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Former President Donald Trump on Friday made the case for the benefits of the U.S. government getting involved in cryptocurrencies.
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Vice President Kamala Harris' campaign slammed Trump's comments about Bitcoin, particularly his reference to it as a potential relief for the nation's debt.
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It is still early days for Harris' White House bid and she has yet to comment on her policy positions on cryptocurrency.
Former President Donald Trump further praised the “very smart people” in the cryptocurrency industry. The interview aired on FridayThis is due to the United States adopting Bitcoin ({{BTC}}). US National Debt: $35 Trillion.
“Who knows? Maybe we'll pay back the $35 trillion and give them a little cryptocurrency check, right?,” Trump suggested to Fox Business' Maria Bartiromo in an interview. “We'll give them a little bit of Bitcoin and wipe out our $35 trillion.”
Vice President Kamala Harris, the presumptive Democratic presidential opponent, has yet to issue a policy statement on her views on cryptocurrencies, but one of her campaign accounts, the “Rapid Response” campaign effort, has appeared to slam Trump’s views. Broadcast your comments.
While most of Trump's comments suggest his primary focus is on the country's competitive position with China, he has also made statements critical of President Joe Biden's administration and its stance on cryptocurrencies.
“Biden is trying to block it, but Biden doesn't have the intelligence to block it,” Trump said. “Can you imagine this guy saying block something like that? He has no idea what the hell it is. But if we don't accept it, other people are going to accept it.”
So far, the former president has garnered significant support from prominent crypto advocates. Some in the industry They, too, are considering supporting Harris, but want to hear her side of the story.
Below is a transcript of Trump's responses to Bartiromo's questions about cryptocurrency.
Donald Trump: “Crypto is very interesting. It's very advanced in some ways, very advanced intellectually. But if we don't do it, China will. China will do it anyway. But if we don't do it, China will. China has already done it. If we don't do it, other countries will. So we should be at the forefront. There are very smart people in the crypto space who love our country and think it's a good thing. Who knows. Maybe we'll pay back our $35 trillion and give them little crypto checks, you know? Give them little Bitcoins and wipe out our $35 trillion.”…
“It's already prominent. It's widespread. It's very lightly regulated. That's one of the reasons it's widespread. But it's another form of currency, and it will ultimately benefit the country. But if Biden closes it down like he's trying to close it down, Biden doesn't have the intelligence to close it down. Can you imagine this guy telling you to close something like that? He has no idea what the hell it is. But if we don't embrace it, other people will. You know, this is already huge. If you look at the market, did you read that it's already bigger than any company in the world? It's bigger than a lot of countries. It's very big. If we don't become leaders, we have people who will be leaders. I know some of them. They're very smart. And if we don't embrace it, other countries will embrace it. Other countries. Either way, we can be leaders. We might as well be leaders.”
read more: Donald Trump in his own words – Partial transcript of Bitcoin 2024 speech
