Former U.S. President and 2024 Republican presidential candidate Trump conducted an interview with Adin Ross, an internet celebrity on the streaming media platform Kick, yesterday (6th), in which Trump once again reiterated his views on the U.S. cryptocurrency industry , that is, the United States should actively invest in this field of innovation, otherwise other countries will take the lead:
China, the most important geopolitical rival of the United States, has made progress in the fields of cryptocurrency and artificial intelligence. If the United States cannot actively invest in innovation in these fields, it will be far behind other countries.
Trump: Bitcoin is a modern currency
On July 29, according to monitoring data from the on-chain data platform Arkham, the US government transferred 29,800 BTC to an unmarked new address, and subsequently transferred 19,800 BTC and 10,000 BTC to two different addresses.
Although the U.S. government did not make a clear statement on this, some analysts pointed out that the United States may intend to sell Bitcoin, thus triggering market panic and causing Bitcoin to plunge from US$70,000 to around US$65,000.
In the face of market concerns, Trump also pointed out again in this interview that the United States should not sell Bitcoin, but should build it:
That's something they shouldn't be doing because they should be trying to build it.
It's a very modern currency, and I know a lot of talented people who are coming into this world and into this market, and they're smart and they're good people, and they also think Bitcoin is a positive thing.
U.S. lawmakers propose to include Bitcoin in national strategic reserves
Not only does Trump believe that the United States should not sell tens of billions of dollars worth of Bitcoin, but U.S. Senator Cynthia Lummis, a member of the Republican Party with Trump, also announced at the Bitcoin 2024 conference on July 28 that she would propose a proposal to list Bitcoin as a currency. into the national strategic reserve assets and allow the U.S. Treasury Department to purchase 1 million Bitcoins within five years.
At the same time, on July 31, Lummis’s legislative draft was officially released , tentatively titled “Bitcoin Bill 2024.” According to the draft, the Ministry of Finance will develop a "Bitcoin Purchase Plan" to purchase up to 200,000 BTC per year within five years, for a total of 1 million BTC.
Additionally, these Bitcoins will be held for at least 20 years and can only be used to repay U.S. debt. After this, only a maximum of 10% of the asset can be sold in any two-year period.
