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In an urgent message delivered during an interview with influencer Adin Ross, former president Donald Trump urged the government to retain its Bitcoin holdings, highlighting the critical importance of the asset for the nation's future.
Trump Highlights China's Advancements
While speaking with influencer and streamer Adin Ross recently, former president Donald Trump warned the present government not to sell the US's Bitcoin holdings, reports Cointelegraph.
Noting that China, America's greatest geopolitical adversary, is already making strides in the fields of artificial intelligence and cryptocurrency, the 2024 presidential contender restated his position that other nations will innovate in these areas if America does not.
Next, Trump shifted his focus to lauding the Bitcoin industry:
"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."
Energy Infrastructure Investments Crucial
When discussing AI and Bitcoin, the leading Republican candidate for 2024 shifted the focus to the energy production that powers both industries.
Bitcoin 2024 attendees heard from Fred Thiel, chairman and chief executive officer of MARA, a Bitcoin mining company, who expressed optimism that the sector would prosper under Trump's administration.
Even Thiel's fellow panelists seemed to agree with him; for example, Riot Platforms' Jason Les stated that he did not anticipate any policy differences between a Harris government and the Biden administration.
Industry spokespeople and analysts agree with Trump that the US must invest substantially in energy infrastructure to support future industries. They see investments in Bitcoin mining facilities and AI data centers as ways to fortify the energy grid.
Bitcoin to Pay Down US Debt
Trump has lately brought up the possibility of paying down the United States' enormous $35 trillion national debt with a tiny quantity of Bitcoin.
By gradually appreciating against the inflated US dollar and draining value from the collapsing fiat system, the former president hinted that the supply-capped asset could wipe out US government debt entirely.
The United States could avoid the economic catastrophe that usually follows currency failures if it progressively transferred most of its wealth to a new store of value and established a stable monetary system limited by mathematical constraints.
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