Today, Former President Donald Trump has expressed enthusiastic backing for Bitcoin and the wider crypto sector, labeling it an essential American asset that the US should persist in leading.
“Thus, I turned into an admirer of crypto, and for me, it’s a sector,” Trump noted. “I consider it an industry and I’m president and if we didn’t have it, China would or another nation would, but most probably China.”
Trump highlighted the economic robustness and strategic significance of Bitcoin, underscoring its strength in recent market declines.Â
“In fact, during the recent stock market fall, crypto and Bitcoin collectively dropped significantly less than others,” he remarked. “And we’ve established a very formidable industry and that is far more crucial than any investments we make.”
The former president discussed his personal connection with Bitcoin prior to initiating his 2024 presidential bid. “I got engaged with it a few years back and before this, before the second term, I got involved, prior to my decision to run… I was into Bitcoin then, not knowing if I would pursue it a third time,” he stressed, referring to his choice to run again.
Trump also indicated that Bitcoin is becoming increasingly mainstream. “It’s the jobs it generates and I’ve observed more and more usage of Bitcoin. I mean, people are mentioning it alleviates substantial pressure from the dollar. And it’s a remarkable benefit for our nation, so my focus isn’t on investing, you know.”
He concluded by asserting that under his guidance, the US has cultivated an essential industry in Bitcoin and crypto. “I have children and they invest in various areas. They have faith in it, but I’m president and what I accomplished was foster an industry that’s very significant and, you know, if we didn’t have it, China would,” Trump stated.