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Former President Donald Trump laid out his vision for the future of cryptocurrencies in the United States in a recent interview with FOX Business' Maria Bartiromo. Trump said he should have embraced crypto technology to maintain American leadership in the global arena.
Speaking at a crypto conference last weekend, Trump expressed his strong desire for cryptocurrencies to play a more significant role in the American economy. He argued that the United States must be at the forefront of this technology or risk falling behind other countries, especially China.
“Crypto is a very interesting thing,” Trump said, adding: “It's very high-level, intellectually. But if we don't do it, China will. China is already doing it. If we don't take steps, other countries will.”
The former president stated that cryptocurrencies are advancing rapidly and are already a major force on the global stage. He underlined its increasing importance by stating that it is larger than many countries and the world's largest companies.
Trump criticized the current administration's stance on cryptocurrency, accusing President Biden of lacking the intelligence to manage or understand the technology. “Can you imagine Biden telling you to stop something? He has no idea what it is,” Trump said. He also suggested that the US's lack of leadership in crypto could result in other nations taking the lead.
Trump's enthusiasm for cryptocurrencies was accompanied by a bold prediction. “Maybe we can pay off our $35 trillion debt with some Bitcoin,” he said.
*This is not investment advice.