Former US President Donald Trump says he became a cryptocurrency advocate largely for political reasons. During a White House press event, Trump stated he embraced the industry after observing its financial growth and to counter China's influence.
Trump acknowledged he was initially skeptical, calling Bitcoin a "scam" during his first term. His stance shifted as the crypto lobby spent hundreds of millions in recent elections. The former president and his family have since developed significant business ties in the sector, including the platform World Liberty Financial.
When asked, Trump said he does not discuss these family crypto ventures, framing his support as a national strategic interest rather than a personal financial one.