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Highlights
- Donald Trump's recent statement on the US's crypto dominance over China has gained traction.
- The tension between the US and China has shifted from trade wars to crypto supremacy.
- The US holds around 198,012 BTC while China boasts almost 190,000 BTC.
In line with President Donald Trump’s vision to turn America into a crypto capital, he has asserted the country’s dominance over China in digital assets. Amid the US-China trade deal tensions, Trump claimed, “We’re leading China in crypto.”
Notably, this critical statement comes amid the US’s increasing efforts to establish Bitcoin as a national reserve. This revelation takes the US-China rivalry to a new level, with the focus shifting from trade wars to crypto supremacy.
US Takes Crypto Lead Over China, Says Donald Trump
Reportedly, the US holds around 198,012 BTC ($20.56 billion), primarily acquired through seizures related to cybercrime and enforcement actions. China closely follows, boasting a total of almost 190,000 BTC worth around $19.7 billion.
Crypto commentator Altcoin Gordon was among the first to report Donald Trump’s critical statement on the US’s crypto dominance over China.
It is noteworthy that the US and China are approaching Bitcoin dominance differently. While the US through strategic acquisitions and seizures, China leverages its control over the underlying tech infrastructure.
Focus Shifts from Trade Deal to Crypto Dominance
Significantly, all eyes have been on the US-China trade war over the past few weeks. The crypto market has been substantially impacted by the escalating tensions between the two countries. Although the market experienced a major correction following Trump’s tariff announcement, crypto prices rebounded with the recent easing plan.
Now, the anxiety concentrates on another major concern that aligns with Donald Trump’s “crypto capital” vision. With the country’s existing crypto holdings, the government is planning to adopt a Bitcoin reserve. Meanwhile, China is also actively exploring the possibilities of embracing a BTC reserve.
How Did Crypto Market Respond to Donald Trump’s Revelation?
The crypto market has been experiencing a wild ride over the past week, with key tokens facing severe fluctuations. In addition to the growing anxiety surrounding the US-China trade deal, the US-UK agreement has also contributed to the crypto market’s recent movements.
Despite its notable correction yesterday, the market rebounded today to reach $3.34 trillion. Following Trump’s statement on the US dominance in crypto holdings over China, the crypto market saw a marginal 0.7% increase.
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