Donald Trump Warns of US Bitcoin Sell-Off, Supports Crypto Leadership

Bittime - Recently, the former President of the United States, Donald Trump, again expressed his opinion regarding the US government's strategy in handling crypto assets. In the midst of increasing market volatility, Trump criticized the government's policy of choosing to sell Bitcoin and other crypto assets. 

With a strong point of view, he suggests that instead of selling out, the US should leverage these technologies to lead in global innovation.

Donald Trump's View on Cryptocurrency

In a recent interview on the Kick livestream platform, former President Donald Trump expressed his views on the US government's involvement in cryptocurrency, calling it a "very modern currency" and comparing it to artificial intelligence (AI). 

In his conversation with popular streamer Adin Ross, Trump expressed his disapproval of the US government's actions to sell their cryptocurrency assets, especially Bitcoin.

Criticism of Government Bitcoin Sell

Trump criticized the administration's decision to sell $2 billion worth of Bitcoin, a move recently reported by Arkham Intelligence. This transaction involved funds previously seized by the US Department of Justice from the notorious Silk Road black market. 

According to Trump, the government should focus on developing the cryptocurrency market rather than selling these assets, as other countries such as China are aggressively advancing in this field.

The Future of US Crypto Policy

The former President emphasized the importance of the US not being left behind in the global cryptocurrency competition. He likened the situation to developments in AI, saying that if the US doesn't lead, other countries will. 

Trump, who previously changed his views on cryptocurrencies, even spoke at the Bitcoin 2024 conference in Tennessee, showing his growing support for the industry. His presence at the event reportedly raised $21 million for his re-election campaign.

Political Implication on Crypto

As the 2024 election approaches, Trump's views on cryptocurrencies could influence the market. Analysts at Bernstein note that the crypto industry is increasingly becoming a political issue, with markets likely to react to political developments ahead of the election. 

Additionally, a bill recently proposed by Senator Cynthia Lummis aims to encourage the US government to purchase up to 200,000 Bitcoins annually for the next five years, further demonstrating the importance of cryptocurrencies in US policy.

Bitcoin Market Performances

At the time of the interview, Bitcoin was trading at around $53,797, down 9% from previous levels, with a trading volume of $118.5 billion. Trump's statements and the ongoing political discourse around cryptocurrencies will likely influence market dynamics ahead of the election.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.