Former U.S. President Donald Trump has changed his stance on Bitcoin and cryptocurrencies, drawing significant market interest. This shift in perceiving Bitcoin may influence its price and investor attention.

Embracing Cryptocurrency and Market Reactions

During his 2024 campaign, Donald Trump described Bitcoin as "an extraordinary technology." This move did not go unnoticed as Trump also started engaging in Bitcoin transactions. Previously, he was critical of digital currency, labeling it a "fraud." Many experts suggest this support could lead to Bitcoin price increases.

Failed Crypto Project: World Liberty Financial Token

Trump attempted to launch his own cryptocurrency called World Liberty Financial (WLFI), but the project was unsuccessful. The token was only available to accredited U.S. investors and couldn't be traded freely, deterring potential buyers. Moreover, the project's website encountered technical issues, leading to lower-than-anticipated sales.

Surge in Crypto ETFs

Interest in cryptocurrency ETFs has reached record levels. Major assets such as Bitcoin, Solana, and Ethereum saw an 11% increase within a week. Over $600 million was invested in crypto ETFs during this period. BlackRock's Bitcoin ETF has garnered strong demand, showing notable growth.

Trump's shift towards Bitcoin and cryptocurrencies, along with the growing interest in crypto ETFs, indicates a deeper integration of digital assets with traditional financial products. This may strengthen cryptocurrencies' positions in the global financial market.