Former US President Donald Trump advises the US government not to sell Bitcoin and sees it as an opportunity.
In a recent interview with streamer and influencer Adin Ross, former President Donald Trump warned the current administration against selling the Bitcoin (BTC) holdings of the United States.
The 2024 presidential candidate reiterated his stance that if the United States does not innovate in the field of digital assets, other countries will, noting that China, the United States’ most significant geopolitical rival, has already made advances in the cryptocurrency and artificial intelligence sectors. Trump then turned his attention to praising the virtues of the Bitcoin industry.
It’s a very modern currency, a very modern form, and I know a lot of very good people who are really into that world, into that market. They’re smart, they’re good people, and they think it’s going to be very beneficial.
Bitcoin mining under a Trump administration
Fred Thiel, chairman and CEO of Bitcoin mining company MARA, spoke at the Bitcoin 2024 event in Nashville, Tennessee, to share his belief that the Bitcoin mining industry would thrive under Trump. Other panelists agreed, with Jason Les of Riot Platforms saying he did not expect the policies of a potential Harris administration to deviate from those of the Biden administration.
Trump’s comments that the United States needs to invest heavily in energy infrastructure to support the industries of the future have been echoed by analysts and industry spokespeople alike, who see investments in Bitcoin mining infrastructure and AI data centers as ways to reinforce the energy grid.
Bitcoin as a way to pay off the $35 trillion national debt
Trump recently proposed the idea of using a small amount of Bitcoin to pay off the US government’s massive $35 trillion national debt. The former president alluded to the power of the supply-capped asset to completely wipe away US government debt by simply appreciating against the inflating US dollar over time and slowly siphoning the value out of the crumbling fiat system.
This would allow the United States to avert a full-blown economic disaster, traditionally seen during currency collapses, by slowly and gradually transitioning most of the country’s wealth into a new store of value and a sound monetary system constrained by hard mathematics.
