Trump Calls Coin Center Testimony the “Greatest Bitcoin Explanation of All Time”
U.S. President Donald Trump on Sunday reposted a six-year-old video on his Truth Social account, describing it as the “Greatest Bitcoin explanation of all time.”
The clip features Peter Van Valkenburgh, Director of Research at Coin Center, testifying before the U.S. Senate Committee on Banking, Housing, and Urban Affairs in 2018.
In the video, Valkenburgh delivers a concise defense of Bitcoin and open blockchain networks, explaining their decentralized architecture, utility in financial innovation, and potential to promote individual freedom and privacy.
“Why is it [Bitcoin] revolutionary? Because unlike any other tool for sending money over the internet, it works without the need to trust a middleman,” Valkenburgh said during the hearing.
The post comes just days after Trump signed into law the GENIUS Act—short for Government Encouragement of Neutral and Innovation-Oriented Use of Stablecoins. The legislation establishes clear legal frameworks for the issuance and regulation of U.S. dollar-backed stablecoins, aiming to provide clarity for developers and issuers while reinforcing the dollar’s role in digital finance.
Together, the social media repost and the new legislation mark a significant shift from Trump’s earlier views. In 2021, he called Bitcoin a “scam” and voiced skepticism about cryptocurrencies undermining the U.S. dollar. But since returning to office, Trump has embraced a markedly more pro-crypto agenda, framing digital assets as central to American innovation and financial sovereignty.
That shift is mirrored in his family’s business interests. American Bitcoin (NASDAQ: ABTC) Corp, a mining company backed by his sons Donald Trump Jr. and Eric Trump, recently raised $200 million in private funding and is targeting 25 EH/s of capacity. The venture adds to a growing list of Trump-aligned investments in the digital asset space.
