The now-crypto-friendly Donald Trump was once pessimistic about crypto, saying Bitcoin looks like a scam.
In an interview with the American television program 60 Minutes, Ripple CEO Brad Garlinghouse acknowledged that the crypto community has embraced the United States President-elect Donald Trump.
He made this statement when asked about Trump’s previous hostility to the crypto market. Recall that in 2021, the now-crypto-friendly politician labeled Bitcoin a scam.
Was Trump Always Pro-Crypto?
CBS journalist Margaret Brennan anchored the interview with Garlinghouse. She asked the Ripple CEO:
“Before this cycle, in June of 2021, Donald Trump was saying, ‘Bitcoin seems like a scam.’ Do you understand what happened with that transformation?”
Her question highlighted Trump’s previously hostile outlook on crypto assets like Bitcoin. In June 2021, Trump stressed his dislike for BTC because it competed against the U.S. dollar.
He added that he wanted the country’s sovereign currency to become the world’s currency. Notably, some individuals voiced their disagreement with Trump’s pessimistic view at the time.
Without shedding light on Trump’s past with Bitcoin, Garlinghouse focused on the present.
“I didn’t have a front-row seat to that. I think it’s clear that Donald Trump embraced and crypto embraced Donald Trump,” he replied.
How Crypto Has Faired With Trump’s Support
During his campaign for U.S. presidency, Trump repeatedly echoed his support for the crypto industry. He also promised to fulfill various things to boost crypto adoption in the country if he won the November election.
Since winning the election, he has begun fulfilling his promises. For example, he recently appointed several pro-crypto individuals to political seats. Among them is Paul Atkins, a crypto-friendly politician that Trump appointed to replace Gary Gensler as the U.S. Securities and Exchange Commission chairman.
Interestingly, news of Trump’s selection was key in driving BTC above the $100,000 price mark to an all-time high above $103,600. At the time of writing, the apex crypto asset sold for $99,500.