US President Donald Trump is bullish on his nation’s leadership in Bitcoin as well as crypto in general. The president has yet again stated that America is at the forefront of these crypto assets, before attending his highly anticipated crypto dinner, where he will host key holders of his TRUMP meme coin.
Donald Trump Claims US Supremacy In Crypto & Bitcoin
In a post on Truth Social, the president said that the USA is leading in crypto and Bitcoin and that they are going to continue doing so. He issued the comment while announcing that he would shortly be traveling to the crypto dinner at Loudon County, Virginia.
This is not the first time the US president has made such a bold statement of US superiority in crypto. According to CoinGape, Trump previously said that the US leads China in crypto. He also emphasized early in his campaign last year that he desires the US to be the world’s crypto capital.
In fact, the US has the highest amount of Bitcoin holdings, corroborating the claims of Donald Trump. According to Bitcoin Treasuries data, the US now possesses 198,012 BTC, ahead of the second-highest holder China, which has 190,000 BTC.
The US had acquired these coins through seizures. Donald Trump, however, has suggested introducing these coins into the Strategic Bitcoin Reserve, which he wishes to establish in the US. Accordingly, the US would never again sell seized BTC like it did in previous administrations.
Due to Trump’s favorable approach toward crypto, the US Congress is also moving to approve the stablecoin bill that would become the first significant regulatory framework for the US crypto sector. According to CoinGape, the senators recently voted to move the GENIUS Act forward into the amendment process.
Rep. Maxine Waters has introduced the ‘Stop TRUMP in Crypto Act’ prior to the Trump crypto dinner. The bill seeks to prevent the president, vice president, and members of Congress and their immediate households from having any affiliation with any cryptocurrency while in office.
US Democrats have continued to accuse Donald Trump of corruption based on his engagement and connections with some cryptocurrencies. This was among the reasons some Democrats, spearheaded by Elizabeth Warren, had previously voted against the stablecoin bill, claiming that it favors the president, mainly through his association with World Liberty Financial, which has launched the USD1 stablecoin.
Donald Trump has also been quite active in marketing his TRUMP meme coin, including this crypto dinner, where he will be hosting the top 220 holders of the meme coin, including TRON’s founder Justin SUN.