Trump: China Is Getting Very Big Into Bitcoin, U.S. Must Stay Number One
U.S. President Donald Trump has raised concerns that China is quickly expanding its involvement in Bitcoin and other digital assets.
During an interview with CBS correspondent Norah O’Donnell at Mar-a-Lago, Trump said Beijing’s growing influence could threaten America’s lead in digital finance and innovation.
“China is getting very big into Bitcoin and crypto right now,” Trump said, warning that losing ground could undermine U.S. technological and economic strength.
The president further asserted that his administration’s policies have positioned the United States as the global leader in cryptocurrency innovation. He contrasted this achievement with what he described as a period of stagnation under President Biden.
Defending His Pardon of Binance Founder CZ
In the same interview, Trump defended his controversial pardon of Binance Co-founder Changpeng Zhao (CZ), who pleaded guilty in 2023 to breaching U.S. anti-money laundering laws. Prosecutors at the time claimed the violations had harmed national security.
Trump rejected those claims, calling the prosecution a politically driven “Biden witch hunt.” He also described Zhao as “a highly respected, successful guy” who had been unfairly targeted.
“I didn’t know him personally,” Trump said, “but I thought he was treated with great unfairness. He was a victim of a vicious group in the Biden administration.”
Furthermore, Trump acknowledged that his sons are more involved in the crypto space than he is. He added that he views digital assets as playing an important role in the U.S. economy.
He also credited his administration for America’s current leadership in the sector, claiming, “We’re number one in crypto in the whole world because I’m the president.”
China’s Return to the Crypto Arena
Trump’s warning comes as analysts note that China has been quietly reentering the crypto space despite earlier bans. Consequently, he suggested that Beijing’s growing involvement highlights the urgency for the U.S. to protect its edge in innovation and finance.
He further explained that losing that edge could weaken America’s economic position globally, a concern he tied directly to his campaign message centered on technology and growth.
U.S. Still Leads in Bitcoin Holdings
Data from Bitbo supports Trump’s assertion of U.S. dominance. The United States currently holds about 198,012 BTC, valued at $21.32 billion. By comparison, China owns 194,000 BTC, worth roughly $20.89 billion. The narrow gap reflects how close the competition has become.
“America Must Stay First”
Closing his remarks, Trump reiterated that global leadership in emerging technologies is his top priority.
“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.”