Trump recommends the current administration refrain from selling Bitcoin.
In a recent interview with streamer and influencer Adin Ross, former President Donald Trump advised the current administration against selling the United States' Bitcoin (BTC) holdings.
As a 2024 presidential candidate, Trump emphasized that if the United States does not innovate in the digital asset space, other countries will, specifically highlighting China's advancements in cryptocurrency and artificial intelligence sectors. Trump then praised the Bitcoin industry, steering the conversation towards the energy generation that supports Bitcoin mining and AI activities.
Fred Thiel, chairman and CEO of Bitcoin mining company MARA, spoke at Bitcoin 2024 in Nashville, Tennessee, expressing his belief that the Bitcoin mining industry would flourish under a Trump administration. Fellow panelists, including Jason Les of Riot Platforms, agreed, noting that they did not expect significant policy changes from a potential Harris administration compared to the current Biden administration.
Trump's comments on the need for substantial investments in energy infrastructure to support future industries have resonated with analysts and industry spokespeople. They see investments in Bitcoin mining infrastructure and AI data centers as ways to strengthen the energy grid.
Trump recently proposed using a small amount of Bitcoin to help pay off the US government's $35 trillion national debt. He suggested that the appreciating value of the supply-capped asset, against the inflating US dollar, could gradually reduce the debt. This strategy aims to avert a full-blown economic disaster typically associated with currency collapses by transitioning the country's wealth into a new, stable store of value constrained by mathematics.
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