Trump Reaffirms Commitment to Establish US as World Crypto Capital
President Donald Trump reiterated his goal for the US to become the global cryptocurrency capital during a livestream at the World Economic Forum in Davos. Key points from his speech include:
- The US has the largest reserves of oil and gas, which will be utilized to reduce costs and enhance manufacturing.
- This strategy aims to position the US as a leader in artificial intelligence and cryptocurrency.
- Trump called for immediate interest rate cuts, potentially benefiting the crypto market.
His previous commitment on X last August also referenced his role with World Liberty Financial (WLFI), a DeFi protocol.
Criticism from Peter Schiff
Bitcoin critic Peter Schiff commented on Trump’s remarks, stating:
“Trump mentioned crypto in his speech, not Bitcoin... my guess is Trump is actually referring to asset-backed crypto rather than fiat cryptos like Bitcoin that have none.”
Trump's Meme Coin Projects
Trump launched the meme coin TRUMP before his inauguration, followed by another project named MELANIA. Current market capitalizations are:
- TRUMP: $7.1 billion
- MELANIA: $466 million
Trump admitted limited knowledge about the TRUMP token beyond its launch. Additionally, Bitcoin’s price surged to $106,000 following Senator Cynthia Lummis's appointment to lead the new digital asset subcommittee in the US Senate Banking Committee.