Embracing a Vital Industry
Speaking on Wednesday, the first day of the two-day America Business Forum in Miami, Florida, President Donald J. Trump urged the United States to embrace cryptocurrency and sketched an ambition for U.S. leadership. “We are here … to embrace a vital industry here in Miami,” he said. He added, “I’ve also signed historic executive orders to end the federal government’s war on crypto. Crypto was under siege. It’s not under siege anymore.”
He argued the sector was sizable and backed by business leaders: “Because it’s a big industry. It’s a big industry, and I have a lot of people who are great people, great businesspeople. They’re in other businesses, but they’re in crypto too.” He linked digital assets to the U.S. currency: “And it takes a lot of the pressure off the dollar. It does a lot of good things, but we’re into it.”
He contrasted his stance with the prior administration, stating that the Biden administration was perceived as vicious on crypto and was going after crypto individuals, leading to indictments. His remarks signal a policy pivot toward digital assets.
Reversing Prior Hostility and Setting Ambitions
At the Miami event, Trump framed his administration as reversing Washington’s antagonism toward crypto industries. He said the federal government’s prior stance left the sector “under siege” and claimed his executive orders reversed that posture.
He cited strong business interest in the field, noting that many businesspeople outside crypto had entered the space. Furthermore, he stated a broader goal: “We’re making the United States the Bitcoin superpower, the crypto capital of the world,” and tied the message to broader technology leadership by calling the U.S. the undisputed leader in artificial intelligence.
Looking outward, he added a warning that if the US doesn’t handle crypto properly, China will. These remarks reflect a strategic competition narrative in global finance and digital assets.
Crypto’s Role and Policy Signals
Trump positioned digital assets as contributing to the strength of the U.S. dollar by easing pressure on it. He said, “cryptocurrency takes a lot of the pressure off the dollar.” He claimed prior administration hostility hindered the sector’s potential. While he presented ambition and policy direction, he did not announce fresh timelines or detailed agency directives during the forum.
He also referred to steps his administration has taken this year, including creating a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile using coins obtained through federal seizures and forfeitures.
Additionally, a stablecoin framework advanced via the GENIUS Act, which was signed into law on July 18. Trump’s team also rejected a U.S. central bank digital currency, presenting crypto policy as compatible with dollar primacy. Financial analysts say Trump’s comments may influence investor sentiment among retail and institutional players alike. They argue that high-level political recognition of cryptocurrency could mark a turn in how digital assets are regarded in conservative circles.