U.S. President Donald Trump stated at a press conference at the White House that Bitcoin helps ease the pressure on the U.S. dollar. Trump promised that the U.S. would become a leader in the development of digital assets to prevent China from dominating the market.
Trump assured that, upon taking office, he contributed to the creation of an industry that became strategically significant for the country. According to the politician, the spread of cryptocurrencies in the U.S. has foreign policy implications: when there was no crypto industry in the U.S., cryptocurrencies were already actively used in China. Trump acknowledged that Bitcoin is increasingly being integrated into the domestic economy, as more people are using the first cryptocurrency for payments. Many retail outlets in the country have started accepting Bitcoin as payment for their goods and services:
'I noticed that you are paying more and more with Bitcoin. It takes a lot of pressure off the dollar. And that's great for our country.'
Trump said he became a 'fan of cryptocurrency' only a few years ago. He noted that during the recent market downturn, Bitcoin and other cryptocurrencies fell less than stocks. Trump added that he does not personally invest in Bitcoins, but his children invest money in various crypto enterprises.
When asked if he was ready to suspend his family's cryptocurrency initiatives, the president stated that his sons manage the portfolio, and he himself does not focus on investments, at least during his tenure as president.
Last year, the Trump family launched a decentralized lending platform, World Liberty Financial (WLFI), with its own stablecoin, USD1. Later, Trump launched the TRUMP token, and soon the MELANIA token appeared, dedicated to the First Lady of the United States.
Recently, the son of the American president, Eric Trump, predicted that next year Bitcoin could rise to $170,000. He admitted that the Trump family's interest in the crypto market was sparked by MicroStrategy Chairman Michael Saylor — this company regularly buys Bitcoin for long-term storage.
