President Donald Trump has publicly declared himself “a big crypto person,” reinforcing his support for Bitcoin and the broader digital asset industry. The statement positions crypto advocacy as a pillar of his economic strategy, particularly in the context of competition with China.

This is the same person who tweeted in July 2019 that cryptocurrencies are “not money” and that their value is “based on thin air.”

From thin air to thick wallets

Trump’s 2025 financial disclosures revealed over $1.4 billion in crypto-related income. Of that sum, roughly $635 million came from royalties tied to the $TRUMP memecoin, while more than $500 million flowed from sales connected to World Liberty Financial, or WLFI.

The memecoin has cratered approximately 96% from its market peak, according to data from Nansen. That decline has translated into roughly $3.81 billion in combined unrealized losses among secondary market holders.

The Strategic Bitcoin Reserve

On March 6, 2025, Trump signed an Executive Order establishing a Strategic Bitcoin Reserve for the United States. The reserve is funded with Bitcoin that had been confiscated by federal authorities, essentially turning seized assets into a national stockpile.

Trump has framed this positioning explicitly in geopolitical terms. His statements in early 2026 tied crypto advocacy directly to the competition with China, suggesting that falling behind in digital asset adoption would amount to ceding economic ground to a rival superpower.

The credibility gap

When the president personally earns $1.4 billion from crypto while simultaneously signing executive orders that benefit the crypto industry, the conflict of interest isn’t subtle. The $3.81 billion in losses suffered by $TRUMP memecoin holders creates an uncomfortable dynamic: the president profited handsomely while everyday investors who bought in watched their holdings evaporate, and the person who would direct regulatory scrutiny is the same person who issued the token.