Trump Says 'Crypto Is a Big Deal, People Are Paying With Bitcoin'

Parshwa Turakhiya

Mon, August 10, 2026 at 12:32 AM GMT+3 5 min read

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According to President Donald Trump, crypto is "a big deal" and people are increasingly paying with Bitcoin without thinking about cash.

What Trump Said About Crypto And Bitcoin

Trump told Punchbowl News that he supports crypto because the US cannot afford to let China or other countries dominate the space.

He said Bitcoin adoption is already happening organically at the consumer level.

"Crypto is a big deal," Trump said. "I see it more and more where people are paying with Bitcoin and they don't even know about cash anymore. That takes a lot of pressure off our dollar. It's a good thing for our country," he added.

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He framed his support as a national security issue. "If we don't have it, China's going to have it," Trump said, adding that Joe Biden only embraced crypto late because he saw Trump winning the crypto community's support.

On the ethics provisions Democrats want in the CLARITY Act, Trump pointed to Nancy Pelosi as a double standard, saying no similar restrictions were imposed on her investments while in office.

He said he does not personally run his crypto holdings and does not discuss them with his children, adding he does not mind a blind trust arrangement.

Where The CLARITY Act Stands

Senate Banking Committee Chairman Tim Scott (R-SC) said earlier Thursday the Senate should hold a procedural vote on the CLARITY Act before leaving for recess, calling it a matter of "without any question."

However, Senate Majority Leader John Thune (R-SD) said late Thursday, he would hold a vote on the budget resolution motion to proceed, expected to fail, but no cloture filing on the Clarity Act was confirmed at publication time.

What Trump Said About Congress And The Fed

Trump said Republican voters are "very angry" with congressional Republicans but not with him, and declined to back Thune for another term as Senate majority leader.

He said he gets along with Thune but has major disagreements.

On the Federal Reserve, Trump said Chair Kevin Warsh has a board that is "very political" and the rate decision is not entirely up to him.

He said the US should have the lowest interest rate in the world and stopped short of directly calling for a rate cut before the midterms.

Photo via Shutterstock

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