How Trump Came Around to Crypto—and What Crypto Wants in Return

President-elect Donald Trump was once skeptical of digital assets, saying Bitcoin “seems like a scam” and that crypto’s value was “based on thin air.”

Times have changed. During his latest presidential campaign, Trump pivoted to crypto cheerleader: a July speech at the Bitcoin 2024 conference capped his complete about-face. Since his reelection, cryptocurrency prices have surged — especially Bitcoin’s, which hit a record high above $108,000 in December — amid expectations that his incoming administration will pursue a pro-crypto agenda.

What has Trump said about crypto?

Donald Trump speaks at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27.

Photographer: Brett Carlsen/Bloomberg

Trump has pledged to be a “pro-Bitcoin president.” ...