On January 20, 2025, Donald Trump was re-elected as President of the United States, and his Trump Bitcoin comments quickly resurfaced, reigniting fears across global crypto markets.
He previously served as the 45th President from 2017 to 2021, and in my 40 years of life, I’ve never seen a more unconventional leader—more businessman than politician.
So much so that people would shift en masse in response to a single comment from him.
His words carry weight far beyond personal opinion; they act more like signals capable of moving entire markets.
At this point, you might wonder:
“Why does it matter if a president says something about Bitcoin?”
The answer is simple. When Trump speaks, it’s not just an emotional outburst—it’s often read as a sign of pending regulation.
If Trump says Bitcoin is a scam, investors take it as a warning that the U.S. government may be gearing up for a crackdown.
In this post, we’ll explore how Trump, during his previous term as the 45th President, influenced the Bitcoin market with his statements and actions.
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1. Trump Bitcoin Comments in 2019 – “I’m Not a Fan of Bitcoin”
On July 11, 2019, President Trump tweeted.
You can also verify Trump’s 2019 Twitter statement on the [official website of the National Archives].
“I am not a fan of Bitcoin and other cryptocurrencies. They are not money, and their value is highly volatile and based on thin air.”
But he didn’t stop there.
He went on to point out the risks of cryptocurrencies being used for illicit activities like drug trafficking.
His comments also cast doubt on Facebook’s digital currency project, Libra, adding further uncertainty to corporate blockchain efforts around the globe.
He concluded with this statement
“We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!”
This was widely interpreted as Trump seeing cryptocurrencies as a threat to the U.S. dollar’s dominance.
In hindsight, this was one of the first clear signs that the U.S. presidency was willing to push back against crypto in defense of monetary sovereignty.
The market reacted instantly.
Although Bitcoin was in a general uptrend that year, some analysts dismissed the dip as a mere correction.
Still, it was clear that Trump’s tweet dampened investor sentiment.
At the time, the crypto market had been optimistic, hoping for eventual mainstream adoption. But Trump’s blunt rejection quickly changed the tone.
Investors began asking: “Is regulation coming for real this time?”
Even Silicon Valley felt the pressure.
A few days after the tweet, Bitcoin dropped below $10,000, falling to the $9,800 range—its lowest point in two weeks.
Worries spread among investors that Trump’s stance could delay, or even block, crypto’s integration into regulated markets.
2. Trump Bitcoin Comments in 2021 – “It Looks Like a Scam”
Fast forward to June 2021. Even after leaving office, Trump’s views on Bitcoin hadn’t softened.
In an interview with Fox Business, when asked about Bitcoin, he replied bluntly
“Bitcoin, it just seems like a scam. I don’t like it because it’s another currency competing against the dollar.”
This wasn’t just an offhand remark. It revealed that Trump viewed Bitcoin not merely as a risky investment, but as a direct challenger to the U.S. dollar’s status.
He added
“I want the dollar to be the currency of the world.”
His comments made it clear—he saw Bitcoin as a strategic threat.
And once again, the market shook.
The very next day, Bitcoin dropped around 8–9%, plunging to the $32,000 range.
Major altcoins like Ethereum, Binance Coin, and Cardano also fell by 9–11%.
It’s worth noting that the crypto market was already unstable due to China’s mining bans and Elon Musk’s flip-flopping on Tesla’s crypto policy.
Trump’s remarks acted as the final spark.
Analysts agreed that his statement added fuel to an already volatile market, triggering widespread FUD—fear, uncertainty, and doubt.
Some experts even pointed to Trump’s call to “crack down on Bitcoin” as a sign that political pressure on the crypto industry was far from over.
More importantly, his words reinforced a growing notion:
Cryptocurrencies were no longer just a financial product.
They had become a political issue—tied to national economic security and monetary sovereignty.
Conclusion
In both 2019 and 2021, Donald Trump publicly and strongly criticized Bitcoin.
What may have seemed like personal opinions had sweeping consequences—triggering price drops, eroding investor confidence, and fueling fears of regulation.
Looking back, this was a time when Bitcoin’s legitimacy in the traditional financial system was still uncertain, and Trump’s words served as a significant obstacle.
Ironically, it’s this kind of external pressure and volatility that helped Bitcoin mature and find its footing.
In the next post, we’ll dive into the specific regulatory actions Trump’s administration took against crypto, and examine how those policies structurally impacted the market.
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