Key Takeaways
- Trump advises against selling US Bitcoin holdings.
- Fred Thiel believes Bitcoin mining will thrive under Trump.
- Bitcoin could help pay off the $35 trillion national debt.
In a recent interview with Adin Ross, former President Donald Trump emphasized the importance of the United States maintaining its Bitcoin holdings.
Trump warned that selling these assets could hinder the nation’s innovation in the digital asset sector, especially as China continues to advance in cryptocurrency and artificial intelligence.
Trump stated:
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.
The 2024 presidential hopeful stressed that the United States must invest in the Bitcoin industry to keep pace with other countries.
Bitcoin under Trump admin
Fred Thiel, Chairman and CEO of Bitcoin mining company MARA, spoke at Bitcoin 2024 in Nashville, Tennessee, and expressed confidence that Bitcoin mining would flourish under Trump’s leadership.
Thiel and other panelists, including Jason Les from Riot Platforms, suggested that the policies of a potential Harris administration might not differ significantly from those of President Biden, signaling uncertainty for the industry’s future.
Bitcoin as a solution
Trump has also proposed using Bitcoin to address the $35 trillion national debt.
He believes that Bitcoin, with its limited supply, could help gradually pay off the debt by appreciating against the US dollar. This strategy, he suggests, could prevent an economic collapse by transitioning wealth into a stable monetary system backed by mathematics.
