Donald Trump, the Republican presidential candidate, stated that the United States government should not engage in the sale of cryptocurrency, but rather concentrate on the development of the industry in order to prevent China from assuming a leadership role.
A recent video held by 23-year-old streamer Adin Ross featured Trump reiterating his support for the crypto industry. This was in line with his campaign’s efforts to bring in crypto enthusiasts.
Ross inquired about Trump’s future plans for the cryptocurrency sector in the event that he were to win the November election, and he also referenced the US government’s recent cryptocurrency transactions. Recently, the government transferred 29,800 Bitcoin, which are estimated to be worth approximately $2 billion, to an address that remains undisclosed.
“They should not be engaging in this activity, as they should be focusing on the development of it,” Trump stated, also referring to cryptocurrency as a “modern” currency. “Consequently, China will implement it if we fail to do so.” Other locations are conducting it, and they are continuing to do so.
Additionally, he compared cryptotechnology to artificial intelligence (AI), suggesting that it is crucial to consider.
The United States government presently possesses 179,155 Bitcoin, which is estimated to be worth approximately $10 billion, according to Lookonchain.
In an additional interview with Fox News, Donald Trump suggested the use of Bitcoin or a “crypto check” to address the $35 trillion national debt of the United States.
“Have you considered the possibility of paying off our $35 trillion national debt by providing them with a small cryptocurrency payment?” He declared, “We will present them with a small amount of Bitcoin and eliminate our $35 trillion.”
Trump addressed the possibility of integrating cryptocurrency into government reserves during the Bitcoin 2024 conference, during which he raised $25 million. Additionally, he declared his intention to terminate Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), who is perceived as a rival of the cryptocurrency sector, on his first day back in office.
The campaign of Democratic presidential nominee Kamala Harris is currently engaged in efforts to sort out her filled relationship with the crypto industry. However, Bernstein analysts are of the opinion that her endeavors to involve the industry may not have a substantial impact on the votes of the upcoming US presidential election.
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