ABC News Daily How Trump’s crypto push boosted Bitcoin
23 snips
Jul 29, 2025 Ross Buckley, a Laureate Fellow and Scientia Professor at the University of New South Wales, discusses Donald Trump's unexpected pivot towards cryptocurrency. Once a skeptic, Trump is now passing legislation that’s impacting the crypto market, leading to a surge in Bitcoin's value. Buckley examines whether this boom is sustainable or just a bubble. The conversation also covers major companies' interest in stablecoins, the implications of new U.S. laws, and insights into central bank digital currencies that could transform global trade.
AI Snips
Chapters
Transcript
Episode notes
Bitcoin Hits New Highs
- Bitcoin and the broader cryptocurrency market have seen significant price increases this year, reaching new all-time highs.
- This surge is reflected in Bitcoin surpassing $120,000 and the overall crypto market exceeding $4 trillion in capitalization.
Trump's Crypto Profit Shift
- Donald Trump shifted from calling Bitcoin a scam to embracing it and profiting significantly.
- Estimates suggest Trump has made between $320 and $350 million from cryptocurrencies.
Crypto's Volatility and Usage
- Cryptocurrency like Bitcoin is built on supply constraints and hype, making it volatile and inefficient for everyday transactions.
- It's preferred for untraceable illicit transactions but impractical for legitimate everyday use.