protos.com
According to David Bailey, it’s never occurred to him that US President Donald Trump changed his position on bitcoin ($BTC) because he or his family could personally benefit from crypto.
Speaking to CBS news correspondent Jo Ling Kent, Bailey categorically denied the suggestion that Trump changed his stance on $BTC to make money personally.
“No, absolutely not,” said Bailey in a broadcast that aired yesterday morning on nationwide TV.
“I don’t think he embraced this industry to enrich himself,” he repeated. “I think that he just sees the same potential that I see.”
Immediately prior to this answer, on-screen CBS analysis tallied $765 million worth of revenue to crypto ventures controlled by the Trump family since September 2024.
Trump has definitely changed his mind on bitcoin
Trump’s about-face about $BTC in 2024 is public knowledge. In 2019, he tweeted unequivocally, “I am not a fan of $BTC and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
He reiterated his negativity for years, including a 2021 affirmation that $BTC still seemed like a “scam.”
By 2024, however, he’d changed his mind for his presidential election campaign. He collected millions of dollars for various dinners, and launched new tokens by the month.
Read more: Donald Trump wants close to 1 bitcoin a photo at Bitcoin 2024
Protos has mapped Trump’s crypto empire that has funneled money to his family from thousands of NFTs, multi-billion dollar memecoins, a top 10 stablecoin, a governance token, and several publicly listed crypto companies.
According to Bailey, in spite of up to $765 million worth of revenue to these ventures, none of this potential for personal profit impacted Trump’s decision to reverse his long held $BTC beliefs.
Rather than profit motivating his family, according to Bailey, Trump simply became excited about $BTC in 2024. “When you get excited about an idea, you feel compelled to do something about it,” Bailey concluded.