Bitcoin Magazine Criticizes $TRUMP: Trump Likes Cryptocurrency Only If It Can Be Used for Graft
Original Article Title: Trump Likes Crypto: Just As Long As It's For Grifting
Original Article Author: Trey Walsh, Bitcoin Magazine Writer; TPBPod Executive Director
Original Article Translation: Ashley, BlockBeats
Editor's Note: The article analyzes Trump's involvement in cryptocurrency, revealing the opportunistic nature of his $TRUMP project. The author criticizes the coin's pump-and-dump scheme, pointing out Trump's focus on short-term gains and self-promotion while overlooking Bitcoin's core values. The author calls for attention to the decentralization and real-world utility of cryptocurrency, rather than speculative trading.
Below is the original content (slightly reorganized for readability):
The Story Behind $TRUMP
When $TRUMP launched on Friday night, no one was surprised, or at least they shouldn't have been. Trump has always thrown himself wholeheartedly into ventures he believes will make him money, but these ventures often end in disaster. Some of these failed attempts include Trump Airlines, Trump Vodka, Trump Steaks, Trump University, Trump Magazine, Trump Plaza Hotel and Casino, Trump Mortgage, and Trump: The Game. Now, cryptocurrency has become the new field he has decided to enter.
I've written articles and spoken at length on various occasions about Trump's foray into the crypto space in an effort to win votes in the recent election. This attempt has been quite successful in many ways. At this summer's Bitcoin Nashville conference, in a bid to garner support for his presidential campaign, Trump made some noteworthy remarks, including claiming that the U.S. would become the "crypto capital of the world and a Bitcoin superpower," he also pledged to fire Gary Gensler, and expressed hopes that all remaining Bitcoin would be mined in the U.S. (which is worrisome from a decentralization perspective and highly unlikely in reality). He also stated that on his first day in office, he would commute the sentence of Ross Ulbricht. If he does, I'll be the first to applaud. (For more on this, I recommend watching the recent documentary by Reason on why Ross should be released.)
Cryptocurrency is Trump's next battleground, combining several elements he loves in business transactions—quick and easy money-making, self-promotion, messaging of "America First," and minimal bureaucratic hurdles. So, what is $TRUMP?

It is based on the Solana blockchain with a total token supply of 1 billion. Initially, 200 million tokens were made available for circulation, while the remaining 800 million were held by a company affiliated with the Trump organization, CIC Digital. These tokens were locked up for three years (meaning the Trump family holds 80% of the token supply...). Following its launch, $TRUMP's market value quickly skyrocketed, touted as a means for supporters to express alignment with Trump's ideals rather than an investment opportunity. However, in my opinion, this is nothing more than a pump-and-dump self-enrichment scam, an unethical behavior in which the participating investors (or should I say "fans") are incredibly foolish.
Crypto Policy Outlook: Speculative Nature vs. Core Value
As we approach Monday's inauguration, we are stepping into uncharted territory where Trump may sign executive orders related to Bitcoin and cryptocurrencies. Now more confident due to his presidency, free from legal concerns, and with a group of supporters whom I truly believe would endorse any of his actions, he famously said, "I could stand in the middle of Fifth Avenue and shoot somebody, and I wouldn't lose any voters, okay?"
Some of these actions may benefit the U.S. Bitcoin industry and supporters. However, many of his actions may also favor the broader cryptocurrency space, which is filled with pump-and-dump scam coins and get-rich-quick schemes designed for the wealthy and lobbyists. This speculative and pump-and-dump cryptocurrency environment, along with his meme coins and NFTs, align well with Trump's logic. In fact, I would bet he truly believes that this is the purpose of cryptocurrency, all the while knowing very little about Bitcoin. Trump has often expressed that he is "having fun playing crypto" and ended a Bitcoin conference keynote speech this summer by saying, "Enjoy yourselves, whether it's Bitcoin or whatever you want."
Trump's experience and views on cryptocurrency and Bitcoin revolve around fun and easy money. But for many in the Bitcoin space, we are fighting for much more, including Bitcoin as a censorship-resistant digital currency, digital gold, an exchange medium for self-custody and privacy tools, a powerful tool for human rights, and more. This is not a gamble... this is the future of currency challenging the dollar and central bank rules.
If Trump truly starts to grasp this, based on his past record and comments on Bitcoin, he is likely to oppose the use of Bitcoin. Or perhaps, to some extent, he understands what Bitcoin is and would rather promote "fun" meme coins, maybe even including Bitcoin as a concept of digital gold, but not beyond that. After all, in 2021 he explicitly stated, "Bitcoin, it just seems like a scam. I don't like it because it's another currency competing against the dollar." He also added that he hopes the dollar becomes the "world currency." On this concept, I highly recommend following Mark Goodwin and his research on Bitcoin vs. the dollar.
Trump wants you to keep playing with cryptocurrency, funneling funds into his organization, but he's unlikely to support anyone using Bitcoin to compete with the dollar, bypass the traditional financial system, or use privacy tools (especially if you're his opponent or he sees it as one of the "left/woke" reasons, maybe one day he'll classify our nonprofit organization Progressive Bitcoiners for this reason). I will continue to promote Bitcoin as a resistance currency and hope you can join in, rather than endlessly gambling on cryptocurrency "and whatever else you're playing."
You may also like

What Happened in Crypto Today? Solana-Native Rails Launch on Digitap ($TAP) as the Best Crypto to Buy
Key Takeaways Digitap ($TAP) spearheads the transition toward real-world utility in cryptocurrency, offering a seamless financial ecosystem through…

Here’s Why Fed Contender Kevin Warsh is Seen as Bearish for Bitcoin
Key Takeaways Kevin Warsh is a potential nominee for the U.S. Federal Reserve chair, causing concerns due to…

XRP Breaks Below Its 1-Year Support Range: What’s Next?
Key Takeaways XRP has slipped below its critical support range of $1.8 to $2.1, which had been steadfast…

XRP Price Breakdown Intensifies — Can Support Mitigate the Shock?
Key Takeaways XRP has dipped below the significant $1.80 mark, continuing its downtrend. The asset is trading beneath…

XRP Risk-Adjusted Returns Suggest a Period of Consolidation – Insights and Analysis
Key Takeaways: XRP’s recent price fluctuations highlight a lack of strong market momentum for a trend reversal. The…

Kevin Warsh Associated with Crypto Project Basis and Electric Capital
Key Takeaways Kevin Warsh, former U.S. Federal Reserve Board Governor, is associated with crypto initiatives Basis and Electric…

Why is Trump’s Fed Chair Pick Kevin Warsh Seen as Bad News for Precious Metals, Commodities, Bitcoin, and Equities?
Key Takeaways: Kevin Warsh, once appointed, is expected to take a more hawkish stance on monetary policy, which…

Who Is Kevin Warsh? How His Fed Chair Odds Are Influencing Bitcoin Markets
Key Takeaways Kevin Warsh, a former Federal Reserve governor, is becoming a strong candidate for the next Fed…

Strategy (MSTR) Stock: Michael Saylor’s Bitcoin Bet Goes Red But Here’s The Twist
Key Takeaways Strategy’s Bitcoin investment has dipped below its average purchase price, highlighting market volatility. No immediate financial…

Gov-Backed Asset or Solana Meme? Uncovering the Reality Behind the USOR Crypto Frenzy
Key Takeaways USOR, a Solana token, sparked a debate over its legitimacy by claiming associations with U.S. strategic…

Bitcoin Hashrate Falls 12% After US Winter Storms Hit Miners
Key Takeaways: The total network hashrate for Bitcoin has declined by approximately 12% since November 11, marking the…

Gold’s Six-Month Rally Against Bitcoin Shows Parallels to 2019 Cycle
Key Takeaways Gold has consistently outperformed bitcoin over the last six months, despite being typically considered the haven…

Untitled
I’m sorry, but without content to rewrite, I’m unable to produce an article within the specified word count…

Mantle’s Cross-Chain Era on Solana: Onboarding the Bybit Express to Mantle Super Portal
Key Takeaways Bybit joins forces with Mantle to enhance cross-chain asset flows through the Mantle Super Portal. Mantle…

XRP Price Outlook for 2026: Is Bitcoin Hyper Part of Long Term Themes?
Key Takeaways The potential future of XRP in 2026 is significant, with various factors influencing its growth and…

Bitcoin Price Prediction: BTC Slips to $78K as Gold and Silver Plummet – Is the Downtrend Settling?
Key Takeaways Bitcoin and traditional safe havens like gold and silver experience synchronized declines in a volatile market…

$30 Million Heist: Step Finance Treasury Wallets Breached
Key Takeaways Step Finance, a prominent Solana-based DeFi platform, faced a significant security breach, losing approximately $30 million…

Bitcoin Price Prediction: $50B Volume Drops 40% as BTC Tests $83K – Is a Breakdown Next?
Key Takeaways: Bitcoin’s trading volume has seen a significant decline, indicating cautious trader behavior. Bitcoin prices remain under…
What Happened in Crypto Today? Solana-Native Rails Launch on Digitap ($TAP) as the Best Crypto to Buy
Key Takeaways Digitap ($TAP) spearheads the transition toward real-world utility in cryptocurrency, offering a seamless financial ecosystem through…
Here’s Why Fed Contender Kevin Warsh is Seen as Bearish for Bitcoin
Key Takeaways Kevin Warsh is a potential nominee for the U.S. Federal Reserve chair, causing concerns due to…
XRP Breaks Below Its 1-Year Support Range: What’s Next?
Key Takeaways XRP has slipped below its critical support range of $1.8 to $2.1, which had been steadfast…
XRP Price Breakdown Intensifies — Can Support Mitigate the Shock?
Key Takeaways XRP has dipped below the significant $1.80 mark, continuing its downtrend. The asset is trading beneath…
XRP Risk-Adjusted Returns Suggest a Period of Consolidation – Insights and Analysis
Key Takeaways: XRP’s recent price fluctuations highlight a lack of strong market momentum for a trend reversal. The…
Kevin Warsh Associated with Crypto Project Basis and Electric Capital
Key Takeaways Kevin Warsh, former U.S. Federal Reserve Board Governor, is associated with crypto initiatives Basis and Electric…