Former US President Trump praised the cryptocurrency industry and reiterated his position in an interview with Fox Business yesterday, stating that if the United States does not innovate in digital assets, other countries will surpass the US. Trump also hinted that Bitcoin could play a role in solving the issue of the US’s $35 trillion national debt.
Background:
Analysts warn that if Janet Yellen leads ahead of Trump, it will affect Bitcoin’s performance.
Nobel laureate in economics: Bitcoin is useless, criticizes Trump’s support for the scandal-ridden cryptocurrency industry.
Former US President and Republican nominee Trump has publicly expressed support for cryptocurrencies multiple times. In a speech at the Bitcoin 2024 conference last weekend, he promised to “include Bitcoin in the US strategic reserves if elected president and never sell.” This news has caused a stir among many cryptocurrency investors.
Further reading:
Breaking news: Trump’s “Bitcoin conference” announces that BTC will be used as a US strategic reserve.
Trump suggests using Bitcoin to pay off $35 trillion national debt.
Just yesterday, in an interview with Fox Business, Trump praised the cryptocurrency industry and reiterated his position, stating that if the US does not innovate in digital assets, other countries will surpass the US. Trump also suggested that Bitcoin could play a role in solving the US national debt problem. Although Trump’s statement may seem to use Bitcoin held by the US to pay off debts, from the wording it can be seen that he suggests using “Bitcoin to pay off debts” rather than “selling Bitcoin to pay off debts,” which means Trump recognizes the value of Bitcoin.
In addition, Trump mocked current President Biden in the interview, claiming that Biden is trying to hinder the development of cryptocurrencies, but he lacks the intelligence to do so. Trump also added that embracing cryptocurrencies would benefit the country.
On the other hand, Trump posted on the social platform Truth Social today, stating that he has reached an agreement with Fox News to debate with Vice President and Democratic candidate Kamala Harris on September 4th. The article also mentioned that if Harris is “unwilling or unable” to attend on that day, he will hold a citizen assembly online. However, this statement has been modified and deleted.