U.S. President Donald Trump is fully entering the cryptocurrency market, making it a next-generation strategic industry. After declaring at the Bitcoin conference in Nashville, Tennessee, in July of last year, during his candidacy, that he would make the U.S. the cryptocurrency capital of the world, he has successfully returned to power and is pushing through substantial policies centered on strong deregulation and institutional entry.
On the 28th (local time), CNN analyzed that this movement is "a signal of full-scale industrialization." This indicates that President Trump is reshaping the entire industry through cryptocurrency policies, going beyond simple deregulation.
During his first term, President Trump criticized cryptocurrency as "a delusion and highly volatile speculation," but now he has turned 180 degrees. After former U.S. Securities and Exchange Commission (SEC) Chairperson Gary Gensler resigned, the SEC withdrew lawsuits against cryptocurrency corporations and shifted towards deregulation. NPR reported on the 19th that this is viewed as a clear sign of the Trump administration's intent to integrate cryptocurrency into the financial industry.
Reports also indicate that about $2.9 billion of President Trump's personal wealth is linked to digital asset projects. According to a report published by the left-leaning activist group State Democracy Defenders Fund, President Trump holds various cryptocurrency assets, including NFTs, meme coins, and equity in stablecoin platforms, strengthening his ties with the cryptocurrency industry.
Not only policies but also business moves are active. Trump announced that he would raise about $2.5 billion through his media company, Trump Media & Technology Group (TMTG), to directly hold Bitcoin. The Bitcoin will be included in TMTG's balance sheet, and custody will be managed by Anchorage Digital and Crypto.com. Reuters reported that this movement aligns with a strategy to treat Bitcoin as corporate assets. Devin Nunes, TMTG CEO, emphasized that "Bitcoin is a symbol of financial freedom and an asset that aligns with the principle of America first."
Trump's family is also participating in this trend. His sons are attending major cryptocurrency events to represent the president's pro-cryptocurrency stance and are seeking collaboration with related corporations. Trump himself recently hosted a dinner event for meme coin investors, creating a buzz.
This kind of policy and symbolic movement is changing the entire industry. Coinbase has been included in the Standard & Poor's (S&P) 500 index, and Bitcoin has hit a record high. In response, the blockchain industry has noted that "cryptocurrency is becoming the next-generation strategic industry in the U.S." This indicates that the nature of cryptocurrency is undergoing a substantial transition from the technology industry to the financial industry.
NPR reported that the SEC's approval of cryptocurrency exchange-traded funds (ETFs) and the regulatory agency's withdrawal of its previous stance is seen as an attempt to institutionalize cryptocurrency, going beyond simple deregulation. This analysis suggests that it is a symbolic scene showing that the U.S. government is nurturing cryptocurrency as a national strategic industry.
However, some warn that this trend could lead to weakened investor protections, bubble formation, and systemic risks. Some experts have expressed concerns that "the risks similar to those during the 2008 financial crisis could resurface."