Trump, Crypto, and the Art of the Digital Deal

In typical Trumpian fashion, the former president’s entrance into the crypto conversation hasn’t been subtle. He’s auctioned NFTs, accepted crypto campaign donations, and recently made headlines through Trump Media & Technology Group’s application to launch a crypto ETF.

But this is more than a marketing ploy. It’s a strategic alignment with a growing and increasingly influential voter bloc: crypto-native Americans, many of whom feel alienated by traditional political establishments.

The real question: is Donald Trump trying to ride the crypto wave—or shape it?

From Gold Standard to Digital Ledger

Historically, Trump has positioned himself as a champion of hard assets—gold, real estate, and oil. Crypto didn’t fit that mold. In fact, in 2019 he called Bitcoin “a scam.” But as public sentiment shifted, so did the political calculus.

In 2024, with campaign fundraising heating up, Trump pivoted. His team began courting crypto donors, aligning with pro-industry PACs, and making digital assets a wedge issue—particularly around the growing anti-CBDC (central bank digital currency) movement.

By 2025, his campaign platform included:

A federal ban on CBDCs, citing surveillance risks
Legal clarity for crypto companies and developers
Support for “financial freedom” through decentralized systems

The Trump Media ETF Play

Earlier this year, Trump Media filed for an ETF dubbed the “Crypto Blue Chip Fund,” with a portfolio skewed heavily toward Bitcoin (70%), Ethereum (15%), and a basket including Solana, XRP, and CRO.

The filing—through a Delaware-based trust—was part financial instrument, part political signal. It told the market (and the base) that Trump wasn’t just pro-crypto in rhetoric. He wanted to offer retail investors direct exposure under his brand.

Critics called it opportunistic. Supporters called it smart.

Either way, the strategy worked. Within days, the fund trended on X and was dissected across Bloomberg panels and Reddit threads alike.

Political Strategy or Digital Populism?

Trump’s crypto push mirrors the broader political realignment happening in the U.S.

Crypto-native voters tend to skew:

Younger (Millennial and Gen Z)
More independent or libertarian
Anti-establishment and tech-forward

A May 2025 poll by The Blockchain Association showed that 43% of swing-state crypto holders say digital asset policy will influence their vote. That number jumps to 61% for voters under 35.

For Trump, this isn’t just about Bitcoin. It’s about owning the “freedom tech” narrative—particularly as his opponents adopt more regulatory postures.

The Risk to the Crypto Industry

While some applaud Trump’s pro-crypto shift, others worry about hyper-politicization. If digital assets become a partisan issue, it could:

Undermine bipartisan legislation in progress
Alienate key institutions wary of political volatility
Stoke regulatory backlash if opposing parties seek to “reverse” Trump-linked reforms

Crypto may benefit from Trump’s short-term attention, but long-term stability requires broad-based, depoliticized adoption.

What Comes Next?

Expect to see crypto mentioned more—not less—as the U.S. heads into election season. Other candidates are now being pressured to take positions on:

Stablecoin frameworks
Regulatory oversight (SEC vs. CFTC)
Digital privacy rights
The U.S. stance on global CBDC development

The crypto vote is officially in play.

Final Thought

Donald Trump may not be a crypto native, but he’s proving adept at seizing the moment. Whether his digital finance pivot is grounded in belief or branding is secondary. What matters is this: crypto has moved from fringe to front-page—and now, to the frontlines of American politics.

And Trump, once again, is at the center of the storm.

Ahmed Bassiouny