Former president and 2024 presidential candidate Donald Trump stated the importance of Bitcoin and the crypto market in a stream with well-known streamer Adin Ross. He warned the current administration about the ill effects of selling the US’ Bitcoin holdings instead of making the asset part of the country’s reserve.

He mentioned how not focusing on Bitcoin at this level will prevent the US from innovating in the digital assets sphere, letting countries like China, a tremendous geopolitical foe, move ahead in the space. China has already made massive advancements in the crypto and AI sectors.

Trump said, “It’s like AI — ‘do you love it or do you not like it?’ — if we don’t do it, China is going to do it, or other people are going to do it, and we can’t be left behind, and crypto is right in that sphere.”

About Bitcoin, its community, and where the asset is headed, he added, “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.”

Trump wants to make Bitcoin a strategic reserve asset and use it to pay the $35 trillion national debt. He plans on stockpiling Bitcoin and using its value appreciation to cover what the US owes its creditors. Bitcoin’s wealth generation capabilities are a refresher compared to the US dollar’s inflation-induced value depreciation.

Thus, the presidential candidate wants to transition out of the country’s fiat system and into Bitcoin-based national wealth as the asset functions as a better store of value. This move would position the US against economic disasters driven by a falling currency. Bitcoin’s deflationary properties backed by hard-coded, sound mathematics can make it the perfect hedge against financial catastrophe.

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