Trump says US must ‘stay number one’ as China ramps up crypto push

President Donald Trump has warned that China’s growing involvement in Bitcoin and other digital assets could threaten America’s lead in the global cryptocurrency market, affirming that the United States “must stay number one” in the rapidly expanding sector.

Speaking during CBS ’60 Minutes’ interview, 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. “Crypto has turned out to be a massive industry […] and 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 is essential for US national competitiveness.

“It’s an industry where you’re going to have number one, and you’re not going to have a number two,” he said. “Right now, we’re number one by a long shot — I want to keep it that way, the same way we’re number one with AI.”

Trump contrasted his position with that of former president Joe Biden, alleging that his successor “campaigned against crypto” before eventually changing his stance during the election.

“Biden found out I was getting like 100% of the crypto vote, and he switched totally,” Trump claimed. “They went totally in favour […] they had many people under indictment, and they let them all go.”

The US president noted that his administration had made the US the “global leader” in digital innovation, crediting his policies for fostering growth in the crypto sector.

Trump’s comments come amid growing analyst concern that China is quietly re-entering the cryptocurrency space, despite previous restrictions on trading and mining.

“I don’t want to have somebody else have crypto and have China be number one in the world,” he said. “We’re number one — and I want to keep it that way.”

According to data from Bitbo, the United States currently holds approximately 198,012 Bitcoin, valued at $21.32 billion, while China owns around 194,000 Bitcoin, worth roughly $20.89 billion.

“We are number one, and that’s the only thing I care about,” he said. “I don’t want China or anybody else to take it away.”