Trump Goes Full Crypto Bull: ‘It’s Very Hot’ as Markets Tumble
Former President Trump doubles down on crypto endorsement—just as traditional markets faceplant. ‘Digital assets are the future,’ he declares, while Wall Street scrambles to explain why their 19th-century risk models keep failing.
Trump’s timing? Impeccable. Bitcoin shrugs off another 10% market correction like it’s a Tuesday. Meanwhile, legacy finance bros are still trying to short NFTs with their Bloomberg terminals.
One hedge fund manager weeps into his yacht’s steering wheel.
Trump’s Crypto Endorsement
When asked about the surprising 58% surge in the TRUMP token’s value following an exclusive dinner invitation to top holders, the President quipped, “I don’t even know that. What did it surge to?” After Welker clarified the price had spiked a lot, Trump scoffed: “Billion dollars?” before brushing off the metric entirely: “Well, that doesn’t mean anything.”
Last week, reports emerged that the uptick in the meme coin’s price may have been engineered, with on-chain data showing large transfers to centralized exchanges. It led many in the community to suspect the team behind the token may have been executing a “pump and dump” move post-dinner invitation. Trump, however, denied profiting from the token, stating bluntly: “I’m not profiting from anything.”
Despite the controversy, what stood out in the interview was Trump’s clear endorsement of crypto’s relevance on the global stage.
“I want crypto. I think crypto’s important because if we don’t do it, China’s going to.” he declared.
He further stressed their staying power, saying, “It’s very popular, it’s very hot,” while suggesting the assets had performed better than the mainstream market during the recent slump triggered by a tariff clash between the U.S. and its major trading partners.
“If you look at the market, when the market went down, that stayed much stronger than other aspects of the market.”
Trump also admitted that his about turn on crypto was because the sector had become very popular. “Millions of people want it,” declared the politician.
The billionaire businessman’s praise of cryptocurrencies came amid reports that a company affiliated with him, Trump Media & Technology Group, is looking to embed crypto into its business model.
BTC Holds the Line
Meanwhile, BTC, the king cryptocurrency, jumped to $98,000 last Friday before failing to sustain the momentum and slipping back below $96,000 over the weekend.
The pullback followed a brief run-up from the $93,000–$95,000 consolidation zone that had held strong throughout late April.
Currently trading at $94,666, Bitcoin’s daily volume remains strong, with the last 24 hours seeing about $19.5 billion changing hands as its market dominance stayed above 60%.
