Donald Trump

United

Biden

Bitcoin

In a recent interview with streamer and influencer Adin Ross, former president Donald Trump cautioned the current administration against selling the United States’ Bitcoin&nbsp;holdings.
The former president reiterated his stance that if the US does not innovate on the digital asset front, other countries will. He noted that China — the US’s most significant geopolitical rival — is already making advances in the cryptocurrency and artificial intelligence sectors. Trump then turned his attention to praising the virtues of the Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) industry.
<blockquote data-ct-non-breakable="true">
 "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.”
</blockquote>
The 2024 Republican Party presidential nominee steered the conversation surrounding Bitcoin mining and AI toward the energy generation that underpins both activities.
<h2 data-ct-non-breakable="true" id="bitcoin-mining-under-a-trump-administration">Bitcoin mining under a Trump administration</h2>
Fred Thiel, chairman and CEO of Bitcoin mining company Marathon Digital Holdings, took the stage at Bitcoin 2024 in Nashville, Tennessee, to share his belief that the Bitcoin&nbsp;<a href="https://cointelegraph.com/news/bitcoin-mining-thrive-under-trump-administration-mara-ceo">mining industry would thrive</a> under Trump.
Thiel’s fellow panelists were also inclined to agree, with Jason Les of Riot Platforms saying he did not expect the policies of a potential Kamala Harris administration to deviate from that of the administration of President Joe Biden.
Related:&nbsp;<a href="https://cointelegraph.com/news/donald-trump-promises-crypto-bitcoin-election">Trump made many promises to Bitcoiners — Can he keep them?</a>
Trump’s comments that the US needs to invest heavily in energy infrastructure to support the industries of the future have been echoed by analysts and industry spokespeople alike. They see investments into Bitcoin mining infrastructure and AI data centers as ways to&nbsp;<a href="https://cointelegraph.com/news/usa-can-should-put-more-energy-bitcoin-mining">reinforce the energy grid</a>.
<h3 data-ct-non-breakable="true" id="bitcoin-as-a-way-to-pay-off-the-35-trillion-national-debt">Bitcoin as a way to pay off the $35 trillion national debt</h3>
Trump recently floated the idea of using a small amount of <a href="https://cointelegraph.com/news/trump-floats-paying-off-35-trillion-national-debt-bitcoin">Bitcoin to&nbsp;pay off</a><a href="https://cointelegraph.com/news/trump-floats-paying-off-35-trillion-national-debt-bitcoin"></a> the US government’s massive&nbsp;<a href="https://cointelegraph.com/news/us-debt-bitcoin-adoption-hard-money">$35 trillion national debt</a>.
He alluded to the power of the supply-capped asset to completely wipe away US government debt by simply appreciating against the inflating US dollar over time and slowly siphoning the value out of the crumbling fiat system.
This would allow the United States to avert a full-blown economic disaster, traditionally seen during currency collapses, by slowly and gradually transitioning most of the country’s wealth into a new store of value and a sound monetary system constrained by hard mathematics.
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/bitcoin-price-ethereum-etf-thomas-fahrer/">Bitcoin $500K prediction, spot Ether ETF ‘staking issue’— Thomas Fahrer, X Hall of Flame</a>

Trump cautions Biden administration not to sell Bitcoin

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