Despite Bitcoin’s failure to reach the anticipated $100,000 mark and a minor 2.1% pullback in the broader cryptocurrency market, U.S. President Donald Trump has reinforced his pro-crypto stance. During a recent interview, he characterized cryptocurrencies as “very popular,” “very hot,” and even claimed they are “much stronger” than the stock market.
These remarks came during a May 4 conversation with Meet the Press moderator Kristen Welker, where Trump addressed various topics including his personal crypto investments, the recent surge of the TRUMP meme coin, and the overarching policy direction of his administration regarding cryptocurrencies.
Trump’s Crypto Endorsement
During the interview, when asked about the noteworthy 58% rise in the value of the TRUMP token, which followed an exclusive dinner invitation to its top holders, the President humorously remarked, “I don’t even know that. What did it surge to?” After Welker revealed the significant price spike, Trump appeared unimpressed, asking, “Billion dollars?” and dismissing the figure as inconsequential.
Recent reports have suggested that this uptick in the meme coin’s value might have been artificially inflated, with on-chain data revealing substantial transfers to centralized exchanges, prompting suspicions of a potential “pump and dump” scheme by the token’s development team following the dinner invitation. Trump, however, firmly denied any personal gain from the token’s rise, stating simply, “I’m not profiting from anything.”
Regardless of the controversy surrounding the TRUMP token, what stood out during the interview was Trump’s unequivocal endorsement of cryptocurrencies as a vital part of the global financial landscape.
“I want crypto. I think crypto’s important because if we don’t do it, China’s going to,” he asserted.
Trump emphasized the endurance of cryptocurrencies, noting, “It’s very popular, it’s very hot,” and went on to highlight how these assets have performed better than traditional markets amidst the recent downturn triggered by trade tensions between the U.S. and its significant trading partners.
“If you look at the market, when the market went down, that stayed much stronger than other aspects of the market,” he stated.
The President also remarked on his shift in perspective regarding cryptocurrencies, attributing it to their growing popularity: “Millions of people want it,” he declared.
Additionally, this newfound enthusiasm for cryptocurrencies comes at a time when reports have surfaced indicating that a company affiliated with Trump, Trump Media & Technology Group, is exploring the integration of crypto into its business model.
BTC Holds the Line
On a separate note, Bitcoin, the leading cryptocurrency, recently reached a high of $98,000 before experiencing a pullback that dipped it below $96,000 over the weekend. This decline followed a brief rally from a stable trading range of $93,000–$95,000 that was maintained throughout late April.
As of now, Bitcoin is trading at $94,666, with robust daily trading volumes reflecting healthy market activity. In the past 24 hours, approximately $19.5 billion has been exchanged, maintaining Bitcoin’s market dominance above 60%.
The insights shared in Trump’s recent interview not only underscore his support for the crypto space but also raise questions about the future regulatory landscape as cryptocurrencies continue to gain traction among the public.
