Trump Backs Bitcoin! Is This the End of Traditional Banking?
Donald Trump has recently expanded his engagement with the cryptocurrency sector, promoting a family-owned crypto project called “The Defiant Ones.” He positions this venture as an alternative to traditional banking, advocating for what he describes as financial liberation from the control of large financial institutions.
This marks a turnaround from Trump’s previous stance on cryptocurrencies, which he once dismissed as a “scam against the dollar” in 2021. However, his recent communications show a notable shift, as he actively endorses#Bitcoinand positions it as a strategic component of America’s financial reserves should he return to the presidency.
Trump’s promotion of “The Defiant Ones” came on his social platform, Truth Social, where he linked to the project’s Telegram channel and encouraged his followers to take a stand against the financial elite.
His post quickly garnered attention, significantly increasing the Telegram channel's follower count, reflecting its substantial influence on public discourse and sentiment.
Furthermore, this engagement with the crypto world coincides with Trump's campaign, as he is currently leading Kamala Harris in prediction markets for the upcoming presidential election.
This move not only highlights his strategic pivot towards embracing digital finance, but also aims to resonate with a voter base that is increasingly skeptical of conventional financial institutions.
