July 19, 2024
By Anjali Kochhar
In a recent media interview, former U.S. President and current presidential candidate Donald Trump reaffirmed his support for cryptocurrency, emphasising the importance of the U.S. embracing the industry to prevent dominance by China. The interview took place on June 25 at his Mar-a-Lago golf club in Palm Beach, Florida, two days before the first 2024 presidential debate and about two weeks before a failed assassination attempt.
Trump discussed his shift from being a crypto skeptic to an advocate, highlighting the necessity for the U.S. to stay competitive in the crypto space. He warned, “If we don’t do it, China is going to pick it up and dominate the industry.” Trump pointed out that China is significantly advanced in cryptocurrency and blockchain technology. “It’s not going away. It’s amazing,” he added, noting his interactions with industry leaders during a fundraiser in San Francisco on June 6.
In addition to his support for cryptocurrency, Trump revealed plans to launch a fourth non-fungible token (NFT) collection. Reflecting on his previous NFT ventures, he explained that most payments for his three NFT collections were made in cryptocurrency. “I noticed that 80% of the money was paid in crypto. It was incredible,” he emphasised. Trump noted the success of his NFTs, with his first collection selling out 45,000 cards in a single day.
Trump stressed that embracing cryptocurrency is crucial for the U.S. to maintain its technological edge. “If I throw it aside, it’s going to be picked up in another country, most likely China,” he warned. Trump’s stance is driven by his belief that the U.S. must lead in the crypto space to ensure national security and economic prosperity.
Highlighting his growing familiarity with the industry, Trump mentioned the changing attitudes of prominent figures like Jamie Dimon, CEO of JPMorgan Chase, who has become more receptive to crypto. “We have a good foundation. It’s a baby. It’s an infant right now. But I don’t want to be responsible for allowing another country to take over this sphere,” Trump stated.
Trump’s continued engagement with cryptocurrency and his plans for a new NFT collection demonstrate his commitment to ensuring the U.S. remains at the forefront of the digital currency revolution. His advocacy underscores the broader importance of the U.S. adopting and advancing cryptocurrency technologies to stay competitive on the global stage.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
