As President Donald Trump prepares for his second term in office, he is expected to continue with some of the key policies that defined his first term, such as increasing tariffs on imported goods and strengthening border enforcement. However, there are also notable changes in his approach to certain issues. For instance, Trump, who previously took credit for the development of COVID-19 vaccines in 2020, is now planning to bring an anti-vaxxer into his cabinet. Additionally, he has shifted his stance on cryptocurrency, moving from skepticism to becoming one of its most vocal proponents.
During his first term, Trump was openly critical of cryptocurrency, referring to it as “not money” and “a scam.” He consistently championed the U.S. dollar as the only legitimate currency, even after leaving office in 2021. However, as he prepares for his second term, Trump has undergone a significant change in his views on cryptocurrency. He now aims to make the U.S. the “crypto capital of the planet” and establish a national cryptocurrency reserve. This shift in stance has led to a spike in Bitcoin prices following Trump’s victory.
Trump’s change in position on cryptocurrency can be attributed to several factors, including the growing influence of the industry in Washington. Once considered a fringe element, the crypto sector now wields substantial financial power, with top industry players contributing millions to political campaigns, particularly those supporting Trump. Super PACs aligned with the industry spent $131 million in the 2024 election cycle, helping to elect pro-crypto lawmakers nationwide. This increased influence has likely played a role in Trump’s newfound support for cryptocurrency.
In addition to his evolving stance on cryptocurrency, Trump has also shifted his position on other key issues. For instance, after previously attempting to ban TikTok, he now promises to “save” the app. These changes reflect a broader shift in Trump’s approach to governance as he prepares to embark on his second term as President. While some policies may remain consistent with his first term, there are clear indications of a new direction in certain areas.
As Trump prepares to take office for his second term in late January, it will be interesting to see how his changed stance on cryptocurrency and other issues will shape his administration moving forward. With the crypto industry gaining influence in Washington and Trump’s newfound support for the sector, there are likely to be significant developments in this area during his second term in office.
