In the past few years, Donald Trump has changed his mind about cryptocurrency. He’s gone from believing it was “based on thin air” to wanting the U.S. to become the “crypto capital of the world.” Atlantic staff writer Annie Lowrey breaks down how the president’s reversal of opinion about this notoriously volatile industry could destabilize the U.S. financial system—and lead to a crypto-induced economic crisis. Get more from your favorite Atlantic voices when you subscribe. You’ll enjoy unlimited access to Pulitzer-winning journalism, from clear-eyed analysis and insight on breaking news to fascinating explorations of our world. Subscribe today at TheAtlantic.com/podsub. Learn more about your ad choices. Visit megaphone.fm/adchoices
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The Bitcoin boom persists. The price has not dipped since Donald Trump was elected, skyrocketing 40% in just the past two weeks. The president-elect vowing to turn the United States into the crypto capital of the planet.
Cryptocurrencies like Bitcoin have been around for a while now. And headlines about crypto always have a boom and bust quality. Overnight billionaires and tech entrepreneurs, scams and collapses on absurd scales. It wasn't clear which way the crypto story was headed because Trump opposed it in his first term. But now he's made a big turnaround.
Trump has become very pro-crypto, pushing to change regulations and create a world where crypto plays a much bigger role in Wall Street and in Washington. all while he and his family stand to profit from crypto investments of their own. I'm Hannah Rosen, and this week on Radio Atlantic, crypto in the new Trump era.
With so many high-stakes changes coming from the administration, it's easy to push the crypto story aside.
There's just so many things going on right now, and people are so excited about some things and so upset by other things.
That's Atlantic staff writer Annie Lowry, who writes about the economy and politics. And she's here to tell us why we shouldn't lose sight of this one. Because what Trump is proposing could have real risks for all of us. And the people who are paying the most attention are the ones pushing for it to happen.
Crypto legislation is only the number one most salient priority for crypto people. So the people that members of Congress are going to hear from are the crypto people.
So let me just start basic. What was the initial idea of cryptocurrency and how did it evolve over time?
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