Trump & Bitcoin: A “King Canute” Moment?
In a move that feels like a Time‑Travel episode of The Office, former U.S. President Donald Trump reportedly told Treasury Secretary Steven Mnuchin to “go after Bitcoin.” The claim didn’t come straight from the Oval Office. Instead, it surfaced in John Bolton’s new book, The Room Where It Happened, and was further amplified by Nigel Green, the no‑nonsense CEO of deVere Group.
Why Ben Green’s Take Hits the Mark
Green argues that the Treasury instruction, if true, shows Trump as “backward‑looking and out‑of‑touch.” He ties it into a broader critique:
- Trump’s “Twitter tirade” last summer crushed the world’s biggest crypto with a barrage of harsh words.
- He vows to strike down Bitcoin, a move that feels more like resisting progress than leading it.
- “Wall Street’s few miles from the mouth of the periodic table? Patience.”
Cryptocurrency’s Bright Future (and Trump’s Snafu)
Green emphasizes why crypto isn’t just a fad:
- Digital by design: Coins are pure code, no borders, no sleep cycles.
- Post‑recession trust loss: The COVID crisis, echoing the 2008 crash, left citizens wary of fiat and central banks—an opening for blockchain’s immutable ledger.
- Gen‑Z & Millennials: Digital natives who treat crypto as a second currency, not just a novelty.
- Institutional momentum: Big money keep buying crypto, bringing expertise and “clout & capital” to the table.
And the punchline? Green calls Trump’s “attack” on Bitcoin the modern equivalent of King Canute trying to “turn back the tide.” In other words, he’s trying to wrestle a tide that’s already unstoppable.
What This Means for the Future
While Trump’s stance might feel regressive, the broader consensus sways toward:
- Cryptocurrencies continuing their evolution as the future of money.
- Governments needing to fast‑track regulatory frameworks to keep pace, lest the next wave of digital finance bypasses them entirely.
- Both sides—a veteran president and a modern fintech org—joining the same conversation, albeit from wildly different angles.
In the end, Trump’s attempt to “go after Bitcoin” is less about the coin itself and more about his image: trying to be the ruler of something that’s already decided to move on.
