- Trump has called Van Valkenburgh’s 2018 Bitcoin testimony the greatest explanation of all time.
- The video highlights Bitcoin as a global, public payment system without intermediaries.
- Trump’s crypto pivot includes stablecoin regulation and a Strategic Bitcoin Reserve order.
U.S. President Donald Trump has once again expressed his strong support for Bitcoin. On Sunday, he shared a video on his Truth Social platform, captioning it as ‘Greatest Bitcoin explanation of all time’. The video features a 2018 U.S. Senate hearing speech by Peter Van Valkenburgh, director at Coin Center, where he defends the value of decentralized digital currencies. The clip quickly gained attention among crypto enthusiasts and lawmakers. This incident marks another key moment in Trump’s shift from crypto skeptic to blockchain supporter.
Viral Video Sparks Fresh Interest in Bitcoin
Van Valkenburgh illustrated the working of Bitcoin in his speech, referring to it as the first digital payment system in the world. He stated that Bitcoin allows people to send and receive cash anywhere in the world with only a computer and an Internet connection, reinstating that with no banks and middlemen, teh process is less expensive and more inclusive.
Valkenburgh stated that Bitcoin offers “public infrastructure” for money, similar to how the Internet serves as public infrastructure for information. That means anyone, regardless of nationality or credit, can access and use Bitcoin. He stressed that Bitcoin is not yet perfect. It is not widely used for pricing or considered a stable store of value. However, Van Valkenburgh stated that it functions without intermediaries, which in itself is a breakthrough. Further, he compared Bitcoin’s current stage to email in its early years. According to him, Bitcoin represents a leap in both financial and human progress.
Trump’s Changing View on Crypto
By sharing the clip, Trump has strengthened his stance on crypto. During his first presidency, Trump criticized cryptocurrencies and warned that they could threaten the U.S. dollar. However, in his second innings as President, Trump had openly stated his support for the cryptocurrency world.
Following his election win, Trump launched several crypto-friendly policies, which include an executive order to build a Strategic Bitcoin Reserve using government-seized coins. Last week, Trump signed the GENIUS Act into law. This act sets federal rules for stablecoins, aiming to provide regulatory clarity in the sector.
By backing Bitcoin and supporting clear regulations, Trump hopes to keep crypto innovation in the United States. He believes it could strengthen the U.S. economy and financial independence.
Related: Trump’s First Crypto Legislation Could Arrive Soon with Stablecoin Vote
Blockchain Debate Gains Steam
Van Valkenburgh also warned about central points of failure in today’s systems. He pointed to past hacks and data breaches. He mentioned the 2017 Equifax breach and banking system vulnerabilities. He added that even internet-connected cars and medical devices are being targeted by hackers.
In his view, relying on centralized intermediaries makes these systems more fragile. He called blockchain a safer, more democratic alternative to traditional infrastructure. He urged Congress to support innovation and avoid strict rules that could push developers overseas.
Trump’s praise could influence future policy decisions. It also indicates the increase in bipartisan interest in blockchain. Though the crypto sector is still divided over Trump policies, most players are embracing the ideology of regulation and education, which could get further support with. Van Valkenburgh’s video. Trump’s endorsement has given the video new life and wider visibility, indicating that the role of Bitcoin may strengthen in the future.
