Trump claims America becomes bitcoin powerhouse
Donald Trump, President of the US (photo: Getty Images)
US President Donald Trump expressed his intention to turn the US into a Bitcoin superpower and the crypto capital of the world, according to his remarks at the American Business Forum in Miami.
“We're making the United States the Bitcoin superpower, the crypto capital of the world,” Trump said.
He added that if the US does not focus on cryptocurrency, China will step in to do so.
“We're leading China by a lot. And don't forget, if we don't do the crypto properly, China wants to do it. They're starting it, but they want to do it,” Trump said.
According to him, if the US does not take action, it risks losing a massive industry.
Bitcoin decline
Trump’s remarks came amid a drop in Bitcoin prices.
According to data from crypto exchange Binance, on November 5, Bitcoin briefly fell to $99,908 before recovering to $101,400. This was the first dip below the psychological $100,000 mark since June 23, 2025.
The market continues a downward trend that began after the October 10 crash, when around $19 billion was withdrawn from the crypto industry.
The Bitcoin decline has also affected the stocks of companies related to mining. Most tickers fell by several percent, despite previously recorded high profits.
Investors are realizing losses, and overall interest in the crypto sector has temporarily decreased amid high volatility.
Trump’s impact on the crypto market
Trump’s policies previously gave a new boost to cryptocurrencies. As US president, he:
- Began openly engaging with the crypto community;
- Launched his own meme coin;
- Announced the creation of a US strategic reserve in Bitcoin;
- Allowed cryptocurrency to be included in retirement plans, after which Bitcoin reached a historic high of $124,000.
