US President Donald Trump has warned that China’s growing involvement in Bitcoin and other digital assets could pose a threat to America’s dominance in the global cryptocurrency market, asserting that the United States “must stay number one” in the rapidly expanding sector.
Speaking during an interview on CBS’s ’60 Minutes’, Trump described cryptocurrency as a “massive industry” that has become central to global technological competition.
“I only care about one thing — will we be number one in crypto?” Trump said. “I’m very proud to say we are far and away ahead of China and everybody else. But China is getting into it very big right now.”
He cautioned that regulatory overreach could “kill the industry” and cost American jobs, adding that maintaining leadership in cryptocurrency and artificial intelligence (AI) is essential for US national competitiveness.
Trump contrasted his position with that of former president Joe Biden, alleging that his successor “campaigned against crypto” before completely changing his stance during the election after realizing Trump was getting “like 100% of the crypto vote.”
The president’s comments come amid growing analyst concern that China is quietly re-entering the cryptocurrency space, despite its previous restrictions on trading and mining. According to data from Bitbo, the United States currently holds approximately 198,012 Bitcoin (valued at $21.32 billion), while China holds around 194,000 Bitcoin (worth $20.89 billion).
“I don’t want to have somebody else have crypto and have China be number one in the world,” Trump stated. “We’re number one — and I want to keep it that way.”
