President Trump says he's a 'big crypto guy,' while distancing himself from family's crypto ventures
President Donald Trump called cryptocurrency "powerful" during the launch of Trump investment accounts for children, while also attempting to distance himself from his family's crypto ventures.
On Monday, during the launch of Trump accounts — new tax-advantaged investment vehicles for children under 18 — the president was asked whether bitcoin could be included in those investments.
Though Trump did not answer directly when asked whether bitcoin (BTC) would be included, he said he is a "big crypto guy," pointing to competition in China and crypto's political swing.
"I got involved in it a little bit for politics because I realized that a lot of people love crypto, and even me, as a businessman, I'd see a lot of money starting to come in with bitcoin, and you know the different forms, and I said — this thing's got a lot of life," Trump added.
Later, Trump touched on his family's crypto ventures — which have become a point of contention among lawmakers in Washington. Last week, the Office of Government Ethics released Trump's financial disclosure report, which revealed hundreds of billions of dollars in bitcoin and etheruem tied to his family's crypto company called World Liberty Financial (WLFI).
The report added fresh urgency to an ongoing debate in Washington on how to address crypto-related conflicts of interest as lawmakers work to pass broader legislation that would regulate the industry for the first time at the federal level. Negotiators from both parties have spent months discussing ethics provisions that would limit how presidents, vice presidents, members of Congress and other federal officials can profit from digital assets while in office.
On Monday, Trump said he does not talk with his children about it.
"So yeah, I'm very much for crypto because it's not a question of a personal thing," he said. "I let my kids do whatever the hell they do… I don't talk to them ever about it, I'm allowed to, I think… but I don't bother because this office is a much higher calling."
These echo similar comments the president made last week.
"I could know about it. I didn't. I mean, there’s nothing illegal, there's nothing wrong with it," Trump told CNBC on Thursday afternoon.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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