Trump Praises Crypto Adoption as 'Big Deal' for US Economy

US President Donald Trump has expressed his positive views on cryptocurrency, calling it 'a big deal' and stating that growing Bitcoin adoption is taking pressure off the US dollar.

In an interview with Punchbowl News, Trump noted that more people are paying with Bitcoin and don't even know about cash anymore. He believes this trend is beneficial for the country, as it takes a lot of pressure off the US dollar.

The US has emerged as the global leader in institutional cryptocurrency adoption, driven by regulatory progress, deep capital markets, and growing participation from major financial institutions. Recent data shows that over 67 million Americans now own cryptocurrency, equivalent to about one in four US adults.

However, despite Trump's positive views, the passage of the CLARITY Act, a bill aimed at providing regulatory clarity for digital assets, has been delayed until September due to negotiations over ethics provisions and consumer protections. Industry leaders argue that this delay will not impact the trajectory of cryptocurrency adoption in the US.