From Skeptic to Supporter: Trump’s Crypto U-Turn Explained
Former President Donald Trump, once a vocal critic of cryptocurrency, has made a complete about-face — now openly embracing digital assets, launching his own meme coin, and courting the crypto community. According to CNN’s chief data analyst Harry Enten, the shift isn’t just ideological — it’s strategic and financial.
“It’s been good for him politically, but also quite good for him and his family financially,” said Enten in a recent segment. The numbers back it up — and so does the money.
Trump Once Called Crypto “Thin Air”
During his first term, Trump dismissed cryptocurrency as “not money” and “based on thin air,” aligning with traditional economic skepticism. But since reentering the political arena, his stance has shifted dramatically. The biggest indicator? The creation of the $TRUMP meme coin, launched just days before his second inauguration in 2025.
Just last week, the president hosted a private dinner at one of his golf courses for top $TRUMP coin investors — a move that underlines how central crypto now is to his brand and campaign identity.
Political Benefits: Crypto Owners Love Trump
Enten notes a significant rise in pro-crypto sentiment among the American public. In 2014, just 38% of Americans believed crypto should be legal. In 2025, that number has risen to 55%, reflecting widespread normalization of digital assets across demographics.
Trump has capitalized on that shift. Polling from the 2024 election showed that he performed notably better among crypto owners compared to his 2020 performance. For Enten, the explanation is simple: “Crypto owners like Donald Trump, so Donald Trump loves crypto owners.”
This alignment has turned crypto from a fringe tech into a core voter base, and Trump is giving them what they want — recognition, policy protection, and access.
A Family Affair: Trump Sons Join the Blockchain Bandwagon
The enthusiasm isn’t limited to Donald Trump himself. His sons, Donald Trump Jr. and Eric Trump, have taken public roles in promoting crypto. They both spoke at a major bitcoin conference in Las Vegas, where Vice President JD Vance also delivered a keynote praising the industry.
The event marked a coordinated effort by the Trump administration to cement its alignment with the crypto world — not just in policy, but in public perception and culture.
Truth Social Eyes $2.5B Bitcoin Treasury
In another headline-grabbing move, the parent company of Trump’s social media platform, Truth Social, announced plans to raise $2.5 billion to buy bitcoin. This follows similar treasury strategies employed by major tech firms like MicroStrategy and Tesla, but this time, the implications are overtly political.
Truth Social becoming a major institutional crypto holder further aligns Trump’s brand with the future of digital money — and potentially gives his platform financial insulation through crypto holdings.
Critics Raise Ethics Concerns Over Financial Gains
While supporters see Trump’s embrace of crypto as visionary, ethics watchdogs and political opponents view it with suspicion. Critics from both Democratic and Republican sides have raised concerns about potential conflicts of interest, especially as the Trump family appears to be benefiting personally and directly from the policy shift.
Enten cited a Bloomberg estimate from April that valued the Trump family’s crypto gains at nearly $1 billion — driven largely by the popularity of the $TRUMP coin and related crypto holdings.
That financial windfall, Enten noted, could have played a significant role in reshaping Trump’s previously skeptical views. “They saw an opportunity to make a lot of money from crypto — and that is, in fact, exactly what they have done.”
JD Vance and the Crypto Caucus
Vice President JD Vance, a rising figure in the pro-crypto political space, has further strengthened the administration’s alignment with digital currency advocates. His keynote at the bitcoin conference signaled a shift in Washington’s tone toward crypto, from regulatory skepticism to active encouragement.
With Vance helping lead the charge and Trump family members building crypto-empires, the White House is increasingly seen as crypto-friendly territory, especially compared to more regulation-heavy approaches floated by prior administrations.
Crypto and the 2028 Road Ahead
Trump’s crypto pivot is more than just a personal financial decision — it could shape the future of U.S. crypto regulation and policy for years to come. If Trump runs again in 2028 or throws his weight behind a successor, the integration of crypto into his political brand could remain a long-lasting fixture.
As Harry Enten puts it, the alignment between Trump and crypto is no longer speculative — it’s measurable, profitable, and intentional. With the former president now a billionaire in digital assets, cryptocurrency has gone from “thin air” to a political powerhouse.
