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Langgam Pos - In a recent live stream with streamer Adin Ross, former U.S. President Donald Trump reiterated the importance of innovation in digital assets. He proposed a novel solution for tackling the U.S. national debt, which currently stands at a staggering $35 trillion: Bitcoin.
Trump suggested that Bitcoin, with its limited supply, could appreciate against the U.S. dollar over time. This gradual shift from traditional fiat currency to a mathematically constrained monetary system could help the U.S. avoid economic calamities often associated with currency collapse, according to Trump.
"The U.S. could gradually transform its national wealth into a more stable and secure store of value by embracing Bitcoin," Trump stated. He described Bitcoin as a modern and innovative currency, noting that many intelligent individuals in the crypto space view it as highly beneficial.
During the discussion, Trump also touched on Bitcoin mining and artificial intelligence, emphasizing the need for robust energy infrastructure to support these industries. Analysts and industry spokespeople support Trump's call for substantial investment in energy infrastructure, arguing that it could bolster energy networks and foster a more resilient and innovative economy.
Trump Open to Using Crypto to Address U.S. Debt
In earlier statements, Trump expressed his interest in the cryptocurrency industry, suggesting the possibility of using crypto assets to pay down the U.S. debt if he wins the 2024 presidential election. "Cryptocurrency is very interesting and intellectually advanced," Trump remarked. "Who knows, maybe we'll use some crypto to settle our $35 trillion debt."
He reiterated his belief that if the U.S. does not advance in the crypto space, countries like China will surpass it. Trump emphasized the need for the U.S. to embrace cryptocurrency to stay competitive, highlighting that the crypto market capitalization is already larger than many companies and countries.
Trump Raises $341 Million Following Bitcoin Conference Speech
Last week, Trump became the first major party candidate to speak at the Bitcoin Conference in Nashville. Following his speech, he hosted a fundraiser that reportedly raised $21 million, equivalent to approximately 341.1 billion IDR (using an exchange rate of 16,261 IDR per USD). Trump also sold tickets for private meetings at $800,000 each, marking a shift in his previous stance on cryptocurrency. He promised that his administration would not sell the U.S. Bitcoin reserves.
Trump’s campaign has started accepting cryptocurrency donations and has raised $4 million through digital assets. His support for Bitcoin is further bolstered by his vice-presidential candidate, J.D. Vance, who publicly disclosed holding at least $100,000 in Bitcoin in 2022.
Trump Ready to Compete with China for Crypto Dominance
In a previous Bitcoin conference, Trump emphasized that the U.S. must dominate the crypto sector or risk being overtaken by China. Trump criticized the Democratic approach to regulating cryptocurrency and promised a more favorable regulatory environment if elected.
"If we don't embrace crypto and Bitcoin, China and other countries will," Trump warned. He noted that China has made significant progress in this area, despite its strict controls on capital movement and cryptocurrency trading.
Trump’s pro-crypto stance positions him as a strong advocate for the industry, aiming to make the U.S. a global leader in digital currencies.
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