"Cryptocurrencies are like artificial intelligence, and if we don't create it, China can't sell bitcoin
"Cryptocurrencies are like artificial intelligence, and if we don't create it, China can't sell #bitcoin ".
Trump says the government shouldn't sell bitcoin:
"Cryptocurrencies are like artificial intelligence, and if we don't create it, China will do it
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- Former President Donald Trump has once again endorsed #cryptocurrency , indicating that the US government should not sell bitcoin BTC/USD.
What Happened: In an #interview with famed youtuber Adin Ross on Monday, the Republican presidential candidate called #cryptocurrencies the "currency of our time, and he said, "What's a smart person doing? They're investing in them.
When asked how the government would sell government-owned bitcoin, Trump said:
"It's because they have to try to create it, so if we don't do it, China and other countries will.
Trump compared cryptocurrencies to artificial intelligence and emphasized the importance of not being left behind.
It's worth noting that trading and mining cryptocurrencies has been banned in China since 2021. However, some reports show that Chinese investors are increasingly leaning towards alternative methods of investing in the market.
Why it's important: Trump's latest statement mirrors a speech discussed at the recent Bitcoin2024 conference.
"For too long, our government has violated a basic rule that all bitcoin enthusiasts know well: never sell your bitcoins, Trump said during his keynote speech.
Interestingly, last week, the U. S. Department of Justice withdrew 20 billion yen worth of bitcoins from the cold wallet. It is unclear if the government intended to withdraw the assets or if it was a normal cash management procedure.
Trump has called for a national bitcoin reserve, arguing that turning cryptocurrencies into a reserve would help pay down the ¥35 trillion debt.
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