Former U.S. President Donald Trump praised the cryptocurrency industry in an interview with Fox Business yesterday, reiterating his stance that if the U.S. does not innovate in digital assets, other countries will surpass it. Trump also hinted that Bitcoin could play a role in addressing the $35 trillion national debt issue.
(Background: Analysts warn that if Kamala Harris leads Trump, it will negatively impact Bitcoin’s performance.)
(Further Context: Nobel laureate criticizes Trump for supporting the scandal-ridden cryptocurrency industry, calling Bitcoin useless.)
Former President and Republican nominee Donald Trump has publicly supported cryptocurrencies multiple times and promised during his speech at the Bitcoin 2024 conference held last weekend that, “If elected president, I will include Bitcoin in America’s strategic reserve and will never sell it.” This announcement has stirred excitement among many cryptocurrency investors.
Related Read: Trump announces at the “Bitcoin Conference” that BTC will be part of America’s strategic reserve; suggests using Bitcoin to pay off the $35 trillion national debt.
Just yesterday, Trump, in his interview with Fox Business, praised the cryptocurrency industry and reiterated his stance that if the U.S. does not innovate in digital assets, other countries will surpass it. Trump also suggested that Bitcoin could play a role in solving the U.S. debt problem. While his comments seem to imply utilizing the Bitcoin held by the U.S. to pay off debt, it is evident from his wording that he suggests “paying off debt with Bitcoin” rather than “selling Bitcoin to pay off debt,” which indicates his acknowledgment of Bitcoin’s value.
Additionally, Trump sarcastically criticized current President Joe Biden during the interview, stating that Biden is trying to hinder the development of cryptocurrencies but lacks sufficient wisdom. Trump further added that embracing cryptocurrencies would benefit the nation.
On another note, Trump announced on the social platform Truth Social today that he has reached an agreement with Fox News to debate Vice President and Democratic candidate Kamala Harris on September 4. The article also mentioned that if Harris “is unwilling or unable” to attend that day, he would hold an online citizens’ assembly, though this statement has since been modified and removed.
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