Trump Declares Crypto 'A Big Deal', Warns of Chinese Dominance
President Donald Trump has expressed his support for cryptocurrency, calling it 'a big deal' and stating that people are increasingly paying with Bitcoin (BTC) without considering cash. In a recent interview, he claimed that this trend is taking pressure off the US dollar.
Trump framed his support as a national security issue, warning that if the US doesn't develop its own cryptocurrency capabilities, China will dominate the space. He also suggested that Joe Biden only began to show interest in crypto after seeing Trump's popularity among Bitcoin enthusiasts.
The President also touched on the CLARITY Act, which aims to impose ethics provisions on lawmakers' investments. Trump pointed out a perceived double standard, citing Nancy Pelosi's lack of similar restrictions during her time in office.