Trump’s Bitcoin comments highlight crypto’s growing influence and potential role in U.S. economic strategy.
- Trump advocates retaining Bitcoin, viewing it as a strategic asset for the U.S. Polls show Trump leading over Harris, influenced by crypto engagement.
After embracing Bitcoin [BTC] and the broader crypto market throughout his election campaigns, former President Donald Trump has once again made headlines with his remarks on BTC.
Trump weighs in on Bitcoin again
In a recent livestream with popular influencer Adin Ross, Trump advised the current administration against selling the United States’ Bitcoin holdings.
This discussion arose following the government’s recent transfer of 29,800 BTC, worth approximately $2 billion, to an unknown address.
Stressing on the importance of holding Bitcoin, Trump said,
“It’s something they shouldn’t be doing because they should be trying to build it. It’s a very modern currency. “So if we don’t do it, China’s doing it. Other places are doing it, and they’re doing it anyway.”
Here, he appears to believe that retaining BTC could be strategically beneficial for the country, either as a long-term investment or a valuable financial asset.
Election tactic?
However, what’s important to note here is that knowing he is no longer in office, his comments could be an attempt to sway public opinion or influence crypto voters in the upcoming election.
Moving further in the live stream, he also appreciated Bitcoin by saying,
“It’s a very modern currency, it’s a very modern form, and I know a lot of very good people that are really into that world, and into that market, they’re smart, they’re good people, and they think it’s going to be very beneficial.”
However, this statement did little to demonstrate his deep understanding of cryptocurrency, leading some to speculate that it was more of an election tactic.
This perception may not be entirely accurate, given his recent interview with Fox Business, where he expressed,
“Who knows, maybe we’ll pay off our $35 trillion, hand them a crypto cheque, hand them a little Bitcoin, and wipe out our $35 trillion.”
In his remarks, he contrasted BTC with traditional finance, suggesting that the U.S. could potentially issue a Bitcoin check valued at $35 trillion to settle the national debt.
Kamala Harris struggles to attract crypto voters
On the other hand, Vice President Kamala Harris’s limited engagement with the crypto community, coupled with her previous anti-crypto stance, has given Trump an edge in the race.
This advantage was highlighted by Polymarket’s prediction data, showing Trump leading with 54% of the votes, while Harris lagged behind at 44%.
Source: Polymarket
However, with a recent post by Epic Maps adding more intrigue, the outcome of the election remains uncertain.
Source: Epic Maps/X
But regardless of the election outcome, seeing cryptocurrency take center stage in the 2024 elections sheds light on its potential to positively impact the future of the United States.
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