Trump says politics and profit drive his crypto embrace

President Donald Trump stated that his embrace of cryptocurrency was driven by political considerations and the industry's profit potential, marking a stark reversal from his earlier criticism. The remarks came during a White House briefing on Monday, July -6, 2026, where he announced a new tax-advantaged savings program for minors called Trump Accounts.

When asked if Bitcoin would be included in the new investment program, Trump did not give a definitive answer but explained his shift in perspective. He said he became a big crypto guy primarily because of competition with China, stating, "If we don't have it, China's going to have it." He also acknowledged that politics played a role, admitting he got involved "a little bit for politics" after realizing there was a significant base of supporters for the market. This represents a complete turnaround from his first term, when he famously called Bitcoin a scam.

The president's comments coincided with the release of his latest financial disclosure, which showed he earned more than $1.4 billion from cryptocurrency-related businesses in 2025. The bulk of that income, approximately $800 million, came from World Liberty Financial, a...