Bitcoin Veteran Accuses Trump of ‘Frontrunning Americans’

Bitcoin veteran Max Keiser has accused U.S. President Donald Trump of “frontrunning Americans” after one of his companies acquired a massive $2 billion worth of BTC on Monday.

Keiser, known for his strong opinions and early Bitcoin advocacy, dubbed Trump’s move “The Great Bifurcation,” suggesting the president was ensuring his own gains before the U.S. reserve fund begins acquiring any BTC.

The $2B Bet and the “Front-Running” Allegation

On July 21, Trump Media, which runs the Truth Social app, confirmed spending $2 billion to purchase BTC and related securities as part of a broader Bitcoin treasury strategy.

This acquisition coincided with Trump’s signing of the GENIUS Act, significant legislation aimed at regulating the stablecoin sector within the U.S.

Earlier this year, Trump also issued an executive order to establish a Strategic Bitcoin Reserve, which would use BTC forfeited to the government in criminal or civil proceedings. Additionally, he tasked the Secretaries of the Treasury and Commerce with finding “budget-neutral” methods for acquiring more Bitcoin, including potential open-market purchases.

Since then, there has been no public update, with most activity appearing at the state level, where several states have introduced their own crypto reserve legislation. Corporations, too, are on a buying spree, with Michael Saylor’s Strategy leading the pack, having recently bought 6,220 BTC, bringing their total to 607,770 BTC.

However, Trump Media’s market entry faced criticism from Keiser, who also advises El Salvador’s President Nayib Bukele on their BTC strategy. In reaction to the $2 billion purchase, Keiser stated:

> “Before buying any for the reserve fund, DT is front running Americans and buying Bitcoin for himself.”

Keiser’s comments imply Trump is leveraging his position for personal gain ahead of a potential increase in BTC prices when the U.S. national Strategic Bitcoin Reserve starts making acquisitions.

Community Reaction

Reactions from the community were mixed; analysts like Bitcoin Munger suggested impropriety on Trump’s part, stating: “First the family loads up, then the country.”

Conversely, some defended the billionaire politician, arguing he was merely “leading by example” and showcasing confidence in the crypto asset before committing taxpayer dollars.

Regardless of the controversy, BTC has continued to perform well. At the time of this writing, it was trading around $119,313, slightly under 3% below its recent all-time high of $123,091, according to CoinMarketCap. In the past month, BTC has surged 16.2%, with a 9.5% increase over the last two weeks. However, a modest 1.7% uptick in the last week indicates it has lagged behind the global crypto market, which has gained 5.90% during the same timeframe.