Trump Says He Wants U.S. to Be ‘The Bitcoin Superpower,’ Cites Competition From China
Trump Says He Wants U.S. to Be ‘The Bitcoin Superpower,’ Cites Competition From China
In a Miami speech, the U.S. president said his orders ended a “war on crypto,” mentioned that crypto helps the dollar and warned China could gain if Washington stumbles.
What to know:
- Trump said he wants the U.S. to become “the Bitcoin superpower” and the “crypto capital of the world.”
- He claimed his executive orders ended a federal “war on crypto,” while offering no new timelines or agency directives.
- He argued crypto supports the dollar and warned that rivals, including China, could gain if the U.S. mishandles the sector.
Speaking at 1 p.m. ET on Wednesday, day one of the two-day America Business Forum in Miami, Florida, President Donald J. Trump urged the United States to embrace crypto and sketched an ambition for U.S. leadership. “We are here … to embrace a vital industry here in Miami,” he said.
Trump cast his administration as reversing hostility in Washington: “I’ve also signed historic executive orders to end the federal government’s war on crypto. Crypto was under siege. It’s not under siege anymore.”
He argued the sector is sizable and backed by business leaders: “Because it’s a big industry. It’s a big industry, and I have a lot of people that are great people, great business people. They’re in other businesses, but they’re in crypto too.”
He linked digital assets to the U.S. currency: “And it takes a lot of the pressure off the dollar. It does a lot of good things, but we’re into it.” He contrasted his stance with the prior administration: “Biden was vicious on crypto. They were going after these crypto guys. It was terrible. They were under indictment.” (Trump then digressed to his own legal battles, which were not about crypto.)
Trump framed the goal as national leadership: “We’re making the United States the Bitcoin superpower, the crypto capital of the world,” and tied his tech message to AI by calling the U.S. “the undisputed leader in artificial intelligence.”
Looking abroad, he warned of competitive pressure: “And don’t forget, if we don’t do the crypto properly, China … China wants to do it. They’re starting it, but they want to do it. Other countries want to do it. If we don’t do it properly — it’s a big industry.”
His Miami remarks emphasized positioning over new specifics; he did not announce fresh timelines or agency directives.
This year, the White House took steps consistent with that posture, including creating a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile using coins obtained through federal seizures and forfeitures; however, there have been no government bitcoin purchases.
A stablecoin framework advanced via the GENIUS Act, signed into law on July 18, while broader market-structure legislation continues to progress. Trump’s team has also rejected a U.S. central bank digital currency, presenting crypto policy as compatible with dollar primacy.
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