Former President Donald Trump has reiterated his stance that the U.S. government should hold onto, rather than sell, the Bitcoin it has seized. During a live stream interview with influencer Adin Ross on Monday, Trump shared his views on cryptocurrency.
Bitcoin: A Modern Currency
Trump described Bitcoin as a very modern currency, saying, “It’s a very modern currency; it’s a very modern form. 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 compared Bitcoin to AI, emphasizing its importance and the need for the U.S. to stay competitive. “If we don’t do it, China is going to do it, or other people are going to do it, and we can’t be left behind. Crypto is right in that sphere, and it is a form of currency. And again, China’s already doing it. But if we don’t do it, they’re going to do it.”
Trump added:
“There are pros and cons to everything, but China is trying to do everything. Yeah, and we’ve got to beat them to the punch.”
Criticism of Government Bitcoin Sales
Trump, who once was skeptical about cryptocurrency, didn’t hold back his criticism of recent government actions. He pointed out that officials had sold some of the Bitcoin seized from the illegal online marketplace known as Silk Road. According to him, this is not the best strategy.
Using Bitcoin to Pay Off National Debt
In a speech at the Bitcoin 2024 Conference last month, Trump shared his plans if he were to be re-elected. He stated that he would keep the seized Bitcoin as an investment instead of selling it. He also floated the idea of using crypto to address the U.S. national debt, which stands at $35 trillion, although he didn’t provide details on how he would implement this plan.
You can watch the entire conversation Trump had with Adin Ross in the below video: