Former President Donald Trump has advised the current administration to retain the United States’ Bitcoin holdings, emphasizing the significance of innovation in digital assets. In a recent conversation with streamer Adin Ross, Trump, a Republican presidential candidate, highlighted the advancements other nations, particularly China, are making in the cryptocurrency and artificial intelligence sectors.
Trump voiced strong support for Bitcoin (BTC), labeling it as a contemporary and innovative currency. “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,” he stated.
During the discussion, Trump also addressed Bitcoin mining and artificial intelligence, stressing the necessity of robust energy generation to support these industries. He called for significant investments in energy infrastructure to back future industries, a stance echoed by analysts and industry representatives. They contend that improving infrastructure for Bitcoin mining and AI data centers could fortify the energy grid, fostering a more resilient and innovative economy.
In a notable proposal, Trump suggested utilizing Bitcoin to mitigate the U.S. government’s substantial $35 trillion national debt. He hinted at the potential for Bitcoin, a supply-capped asset, to appreciate against the inflating U.S. dollar over time. This gradual appreciation could transfer value from the traditional fiat system to a more stable, mathematically constrained monetary system, potentially helping the U.S. avoid economic turmoil typically linked to currency collapses by transitioning the nation’s wealth to a sounder store of value.
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