CNN’s chief data analyst Harry Enten on Wednesday broke down why President Donald Trump has done a 180 on cryptocurrency after calling the digital currency “not money” and “based on thin air” in his first term.
“Donald Trump is one of the people who has been responsible for bringing crypto into the mainstream because it’s been good for him politically but it has also been quite good for him and his family financially,” Enten said.
His takes comes after the president hosted a dinner for top investors of his $TRUMP meme coin — a digital currency launched just days before his inauguration — at one of his golf courses last week.
On Wednesday, Vice President JD Vance praised the crypto industry in a keynote address at a Bitcoin conference in Las Vegas — an event that saw remarks from the president’s sons, Donald Trump Jr. and Eric Trump, as well.
The parent company of Donald Trump’s Truth Social platform also announced this week that it looks to raise about $2.5 billion to buy bitcoin all while the Trump family’s growing praise of the digital currency has fueled ethics concerns among Democrats as well as some Republicans.
