Former President and the leading Republican presidential candidate, Donald Trump, has called for the U.S. government to prioritize developing the cryptocurrency industry rather than “selling it off.”
During a recent livestream with YouTuber Adin Ross, Trump stressed the importance of building and strengthening the U.S. crypto sector to maintain competitiveness with China.
He described cryptocurrency as a “modern” form of value exchange, stating,
“If we don’t advance it, China and other countries will. They’re already moving forward with it.”
Trump also drew a parallel between cryptocurrency and artificial intelligence and emphasized that both technologies cannot be ignored.
“It’s like AI. Whether you like it or not, if we don’t advance it, China or other nations will. We can’t afford to be left behind,”
he remarked.
“It’s something they shouldn’t be doing because they should be focusing on building it,”
Trump stated when Ross asked about his view on the government’s recent cryptocurrency transactions.
These statements come as the cryptocurrency market continues to evolve and gain attention in political spheres, with candidates increasingly addressing digital assets in their campaigns.
Trump, in particular, has been actively engaging the crypto community and currying their support. He delivered a keynote speech at the just-concluded Bitcoin 2024 conference in Nashville, Tennessee, where he discussed introducing crypto-friendly policies such as integrating cryptocurrencies into government reserves.
RELATED: How Crypto Fared Under Joe Biden and Donald Trump Presidencies
In a separate Fox News interview, he suggested using Bitcoin or a “crypto check” to address the U.S.’s $35 trillion national debt.
“Who knows, maybe we’ll pay off our $35 trillion national debt with a little crypto check, right? Hand them some Bitcoin and wipe out the debt,”
he proposed.
Meanwhile, in his speech at the conference, Trump also pledged to remove the current U.S. Securities and Exchange Commision (SEC) Chair Gary Gensler, whom he viewed as antagonistic to the crypto industry, on his first day back in office if elected. He reportedly raised $25 million for his campaign at the conference.
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