- In a live stream interview,Trump, the president of the United States of America, underlined the U.S need to increase investment in cryptocurrency
- Trump also recently expressed his disapproval of the U. S. government’s recent action of disposing a large amount of its digital currency
- The other representation of Trump contributed to the view that cryptocurrency was a cornerstone in the technological race globally, especially with China
During one of his concerts live streaming with Adin Ross, Trump called on the U. S. to increase investments in cryptocurrencies.At this point, he compared the use of cryptocurrency with new technologies such as artificial intelligence. He made the remarks after the U.S government planned to sell a good percentage of its crypto currencies; something Trump was against.
Trump’s Concerns Over U.S. Crypto Strategy
In the interview, Trump criticized the U.S. government for its handling of the country’s cryptocurrency reserves.He claimed that with disposal of a large portion of such assets, the U. S. will be lagging behind in technological area. Trump also proposed to increase direct involvement of the government in the crypto market.Thus, this approach will ensure that the country is at the forefront in one of the most promising and a very growing fields.
Trump’s remarks come after an unprecedented activity by the U. S. government last week. This is where $2 billion worth of Bitcoin was moved from a wallet linked to the Department of Justice. Some of these assets alleged, were obtained from the Silk Road activities. However, the ownership by the government of the United States still remains at $ 11.1 billion.In his remarks, Trump called on the U.S. government to reconsider its approach to cryptocurrency.
The Global Context: Competing with China
Trump also spoke about the intersections of the global context: the position of the U. S. crypto strategy and relations with China. He said that a lack of action in the sector would let opponents such as China and other countries gain the competitive advantage.This comparison established by Trump painted cryptocurrency and artificial intelligence as similar vital technologies. They are essential for the United States’ technological and economic success in the future.
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