Donald Trump Reveals His Love for Cryptocurrency, Reminds of China Risk - Coin Bulletin

Donald Trump, the Republican presidential candidate in the US, once again had the opportunity to talk about cryptocurrency on a difficult day for the markets.

During a live broadcast interview with Adin Ross on the Kick platform, Trump touched on various topics. 23-year-old Ross, who gained fame as a video game streamer on Twitch, was banned from that platform for repeatedly using insults.

Ross asked Trump whether he would support cryptocurrency if he wins the November elections, referring to the recent crypto sales by the US government.

Trump said, “This is something they shouldn’t be doing because they should be trying to build it. If we don’t do it, China is doing it and other places are doing it, and they’re already doing it.”

Last week, according to Arkham Intelligence data, a wallet believed to be owned by the US government transferred 2 billion dollars worth of bitcoin to an unidentified wallet. These bitcoins are associated with funds previously seized by the US Department of Justice from Silk Road. It is stated that the government still holds 11.1 billion dollars worth of cryptocurrency.

Trump described the cryptocurrency as a “very modern form of currency” and compared it to artificial intelligence.

He said, "If we don't do things like artificial intelligence — 'do you like it or not?' — China will do it, or other people will do it, and we can't lag behind, and crypto is right in this area." The former president had previously stated that he wanted the US to be a "Bitcoin mining superpower."

Trump reversed his stance on cryptocurrency earlier this year and gave a speech at the Bitcoin 2024 conference in Tennessee last month, one of the biggest events in the industry, which reportedly helped him raise $21 million for his re-election campaign.

Bernstein analysts wrote in a recent report, 'The crypto community and industry seem clear that cryptocurrency is no longer a bipartisan issue.'

"We believe that the crypto markets will trade entirely on political developments until the beginning of November elections."