On October 31st, Michael Saylor, the CEO of MicroStrategy, shared false information about Trump's cryptocurrency policy with his 3.6 million followers on social platform X. The statement claimed that Trump supports the abolition of cryptocurrency taxation and stated that "Bitcoin is currency."

After investigation, this false information originated from a post by social account Basedkarbon on October 28th. The message was subsequently shared by several well-known cryptocurrency social accounts, including Kraken and Bitcoin Archive. Trump did propose the idea of ​​canceling federal income tax during a recent interview with Joe Rogan, but did not discuss digital assets.