Donald Trump Advises the US Government Not to Sell Bitcoin

Trump Urges US Not to Sell Bitcoin, Highlights Potential Benefits of Crypto

In a recent interview with streamer and influencer Adin Ross, former U.S. President Donald Trump issued a warning to the current administration against selling the country’s Bitcoin (BTC) holdings. Trump, who is also a 2024 presidential candidate, stressed that if the United States does not advance in the digital asset space, other nations, particularly China, could take the lead in cryptocurrency and artificial intelligence.

Trump Praises Bitcoin and Its Community

Trump highlighted the modernity of Bitcoin and the sophistication of those involved in its ecosystem:

“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 Trump Administration

Fred Thiel, chairman and CEO of Bitcoin mining company MARA, expressed confidence that the Bitcoin mining industry would thrive under a Trump administration during the Bitcoin 2024 event in Nashville, Tennessee. Jason Les of Riot Platforms echoed this view, noting that he does not expect significant policy differences between the Harris and Biden administrations.

Trump also emphasized the importance of investing in energy infrastructure to support future industries, including cryptocurrency mining, stating that such investments would reinforce the U.S. energy grid.

Using Bitcoin to Settle the $35 Trillion US National Debt

Trump further suggested that a portion of the U.S. national debt, currently estimated at $35 trillion, could be paid using Bitcoin. He pointed to the cryptocurrency’s capped supply and potential appreciation against the U.S. dollar as a way to gradually reduce the value of the fiat system and eliminate government debt.

By converting a portion of national wealth into Bitcoin, Trump argued, the U.S. could establish a new store of value and a healthier monetary system governed by strict mathematics, potentially avoiding the economic crises typically seen after currency collapses.