Donald Trump, Who Once Called Bitcoin a “Scam,” Now Says Crypto Is the “Solution”

President Trump called the traditional financial system “broken” and promoted cryptocurrency as the solution. An executive order now allows 401(k) accounts to invest in cryptocurrencies and private equity. Accountable.US estimates 73% of Trump’s net worth comes from crypto holdings, alongside a $1.5 billion family crypto treasury. In a stunning reversal, President Donald Trump who once called Bitcoin a “scam” has delivered one of his most direct endorsements of cryptocurrency yet. He is now calling the traditional financial system “broken” and arguing that digital assets offer a “solution.” This dramatic change of heart coincides with a flurry of pro-crypto policy actions and new revelations about his personal holdings, and legislative debates that could redefine the role of crypto in the U.S. economy. It’s come to this. Even with a lawsuit threat from the President, Fed Chair Powell holds firm on the economy. Here’s our analysis. Backing Up Words with Action Backing up his new pro-crypto rhetoric, the President on August 7 signed an executive order enabling 401(k) retirement accounts to invest in cryptocurrencies and private equity alongside … The post Donald Trump, Who Once Called Bitcoin a “Scam,” Now Says Crypto Is the “Solution” appeared first on Coin Edition .

Source: Coin Edition