How Bitcoin, Ether Are Rallying as Trump Embraces Crypto - Bloomberg


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Trump's Crypto Shift

President Donald Trump's stance on cryptocurrency has dramatically changed. Initially skeptical, referring to Bitcoin as a 'scam' and crypto value as 'based on thin air', he has since issued executive orders promoting the industry and signed legislation legitimizing stablecoins.

Impact on Bitcoin and Ether

This shift has coincided with a rally in Bitcoin and Ether.

Trump's Business Ventures

Trump and his family have significantly expanded their business interests into the cryptocurrency sector, further highlighting the intertwining of his political actions and financial gains.

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

How times have changed. Since returning to office in January, Trump has put out executive orders supporting the industry and expanding the government’s use of digital assets, and signed a law legitimizing stablecoins, a type of cryptocurrency that’s supposed to keep a stable value. The president and his family have expanded their network of business ventures into almost every corner of the crypto world.

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