President Donald Trump has warned that China’s growing involvement in Bitcoin and other digital assets could threaten America’s lead in the global cryptocurrency market, asserting that the United States “must remain number one” in the fast-growing sector.
Speaking during the CBS “60 Minutes” interview, Trump described cryptocurrencies as a “massive industry” that has become central to global technology competition.
“I only care about one thing – are we going to be number one in crypto?” Trump said. “Crypto has turned out to be a huge industry […] and I am very proud to say that we are way ahead of China and everyone else. But China is getting into it really big now.”
He warned that regulatory overreach could “kill the industry” and cost US jobs, adding that maintaining leadership in cryptocurrencies and artificial intelligence is essential to US national competitiveness.
“It’s an industry where you’re going to have a number one and you’re not going to have a number two,” he said. “Right now, we’re number one by far — I want to keep it that way, the same way we’re number one with artificial intelligence.”
Trump contrasted his position with that of former President Joe Biden, claiming that his successor “ran an anti-crypto campaign” before finally changing his stance during the election.
“Biden found out I was getting 100% of the cryptocurrency vote and he completely changed,” Trump claimed. “They were absolutely supportive […] they had a lot of people under charges and they let them all go.”
The US president noted that his administration had made the US a “world leader” in digital innovation, crediting his policies for promoting growth in the cryptocurrency sector.
Trump’s comments come amid growing concern from analysts that China is quietly re-entering the cryptocurrency space, despite previous restrictions on trading and mining.
“I don’t want to have someone else own crypto and have China be number one in the world,” he said. “We’re number one — and I want to keep it that way.”
According to data from Bitbo, the United States currently holds about 198,012 Bitcoins, worth $21.32 billion, while China holds about 194,000 Bitcoins, worth about $20.89 billion.
“We’re number one and that’s the only thing I care about,” he said. “I don’t want China or anyone else to take it away.”
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