US Republican presidential candidate Trump, who was interviewed by internet celebrity Adin Ross on the game live broadcast platform Kick a few days ago, warned the current US government not to sell off Bitcoin in the live broadcast, emphasizing that if the United States does not quickly innovate in the field of digital assets, it will soon be will be caught up by other countries.
Trump: Government should not sell cryptocurrencies
Ross first talked about the U.S. government’s move to sell off some of its Bitcoin holdings immediately after Trump appeared at Bitcoin 2024 a few weeks ago. Trump rebuked this:
This is something the US government shouldn't do, they should try to understand and develop it.
Ross later asked whether he would continue to defend and support cryptocurrencies after winning the US election in November, and Trump reiterated his stance:
If we do not actively develop relevant technologies, China is catching up and other countries are also working hard, and we cannot be left behind.
Previously, Arkham data showed last week that wallets labeled as U.S. government were transferring $2 billion worth of Bitcoin to Coinbase, which was reported to be related to funds seized by the U.S. Department of Justice from the darknet market Silk Road late last year.
(Arkham: US government wallet transfers approximately $2 billion in Bitcoin)
Compare it to AI: Cryptocurrencies are fairly modern currencies
In addition, Trump compared cryptocurrencies to the hottest topic of recent years, "artificial intelligence (AI)," calling cryptocurrency a "pretty modern currency":
Cryptocurrency is a currency that exists in a very modern form, and I know a lot of very good and smart people who are entering this market and they think the development in this area is very beneficial.
However, looking at the tragic situation of many technology stocks involved in the field of AI in recent days, it may not be a good choice to take the over-hyped AI issue as an example.
(Nvidia’s new AI chip has been delayed, asset management companies: the company is in a bubble stage and AI has been over-hyped)
Trump touts cryptocurrency campaign strategy
Since this year, Trump has changed his previous opposition to cryptocurrency and will support cryptocurrency policy as a stepping stone for his re-election.
(Trump promised in Bitcoin 2024 to fire Gary Gensler and ensure that the United States becomes a Bitcoin power)
Not only did he declare that he would turn the United States into a "bitcoin mining power," he also stated that he would establish a national strategic bitcoin reserve, and promised to fire the current SEC chairman and end Biden and the Democratic Party's war against cryptocurrency.
(Interpretation of Trump’s speech | The perfect combination of Bitcoin and political language, the intersection of the pain points of the currency circle and the glory of the United States)
Previously, crypto-friendly congressman Cynthia Lummis, also a Republican, also expressed support for this by drafting the "Bitcoin Reserve Act of 2024", calling on the United States to purchase at least 200,000 bitcoins every year.
(Republican Congressman Lummis proposed the Bitcoin Strategic Reserve Act: The United States will accumulate 1 million Bitcoins within five years to solve the national debt)
This article Trump calls on the US government not to sell cryptocurrencies: China cannot be allowed to succeed. It first appeared on Chain News ABMedia.
