Trump Jr. Proposes Digital Asset Boom to Revitalize Dollar's Dominance

In a critical moment where the U.S. dollar faces multiple pressures and its status as the global reserve currency is being challenged, the son of Donald Trump has suggested that the digital asset boom could revitalize the dollar's dominance.

On September 18, the son of Donald Trump stated that the digital asset boom would attract trillions of dollars from weak currencies around the world into the United States. This statement comes at a time when the U.S. dollar has significantly depreciated this year, with Trump's trade policies and repeated criticism of the Federal Reserve shaking investor confidence in this global reserve currency.

The son of Donald Trump's views align with his father's policy direction. Trump has pledged to make the United States the "digital asset capital of the world" and promote a relaxed regulatory environment to drive Bitcoin and other cryptocurrencies to new historical highs.

It is reported that the son of Donald Trump also described the family's digital asset business as the "ultimate revenge" on traditional financial institutions. The Trump family has extensive interests in the digital asset sector, including the Truth Social Bitcoin ETF, two types of meme coins, and Bitcoin investment businesses related to Trump Media & Technology Group.

The son of Donald Trump elaborated on how digital assets could support the dollar's position. He stated that conducting Bitcoin mining in the United States and achieving financial independence and initiating a "financial revolution originating from the United States" could "save the dollar."

His core logic is that a U.S. friendly to digital assets would become a global capital haven. When investors seek to move funds out of "unstable currencies," the U.S. crypto market would provide an attractive option, indirectly supporting demand for dollar-denominated assets.

This view comes against the backdrop of multiple pressures on the dollar. The U.S. debt is expected to further balloon due to Trump's signature tax law, exacerbating market concerns about the U.S. fiscal situation. Trump has consistently advocated for significant rate cuts, previously stating that a "weak dollar makes more money than a strong dollar."

The son of Donald Trump believes that by attracting global capital into the U.S. digital asset market, new support for the dollar can be provided.

It is worth noting that the son of Donald Trump's views align with his father's policy direction. Trump has vowed to make the United States the "crypto capital of the world" and encourage a "light-touch" regulatory environment for digital assets. This stance has driven Bitcoin and other token prices to new historical highs.

The Trump family has extensive interests in the digital asset sector, including the Truth Social Bitcoin ETF, two types of meme coins, and Bitcoin investment businesses related to Trump Media & Technology Group.

The son of Donald Trump co-founded World Liberty Financial Inc. (WLFI) last year, a digital asset company supported by his family, operating the USD1 stablecoin pegged to the dollar. According to financial disclosure documents, Trump held 157.5 billion WLFI tokens by the end of 2024, valued at over 3 billion dollars based on Wednesday's trading price.

The son of Donald Trump emphasized that he did not rely on the help of top U.S. financial institutions when establishing multiple crypto-related companies. He described this as the "ultimate revenge" on big banks and modern finance, adding that "you realize you don't need them, and frankly, you won't miss them."

This statement came a few months after the Trump Organization sued Capital One Bank, alleging that the bank closed Trump's account in 2021 for political reasons, which the bank denied.

U.S. banking executives are concerned that stablecoins, which are typically pegged one-to-one with the dollar, could siphon funds from the traditional banking system if they offer better returns.

White House officials hope that stablecoin issuers, including Tether and Circle, will participate in purchasing a significant portion of the tens of billions of dollars in bonds issued by the Treasury Department each year, following the passage of the first major digital asset regulatory bill by Congress in July.