TLDR
- Trump said he wants the U.S. to become “the Bitcoin superpower” and “crypto capital of the world” during a speech in Miami
- The president claimed his executive orders ended a federal “war on crypto” but offered no new timelines or specific agency directives
- Trump warned that China and other countries could gain ground if the U.S. doesn’t handle crypto properly
- Hong Kong eased crypto restrictions on Monday, allowing licensed platforms to connect with global exchanges and list new digital assets
- The U.S. created a Strategic Bitcoin Reserve using seized coins but has not made any government bitcoin purchases
President Donald Trump told a business audience in Miami that he wants America to lead the world in cryptocurrency. He spoke at the America Business Forum on November 5, 2025.
BREAKING: đşđ¸ President Trump says, âI only care about one thing: will we be number one in cryptoâ
âChina is getting into it very bigâ pic.twitter.com/LuMHAQLlnf
— Bitcoin Magazine (@BitcoinMagazine) November 3, 2025
Trump said he ended what he called a federal “war on crypto” through executive orders. He did not provide new timelines or specific directions for government agencies.
The president linked cryptocurrency to U.S. dollar strength. He said crypto “takes a lot of the pressure off the dollar” and “does a lot of good things.”
Trump criticized the previous administration’s approach. He said the Biden administration was “vicious on crypto” and went after people in the industry.
The president framed cryptocurrency as part of a larger competition with China. He told CBS News after meeting with Chinese President Xi Jinping that he wants America to stay “number one” with crypto, just like with AI.
Competition from China and Hong Kong
Trump warned that other countries want to develop their crypto industries. He said China is starting its own efforts and other nations want to follow.
Hong Kong announced new rules on November 4 that make it easier for crypto platforms to operate. Licensed platforms can now connect directly with global crypto exchanges and list new digital assets.
Hong Kong approved spot bitcoin ETFs last year. The city approved spot ether ETFs three months before the U.S. did.
Over 60 percent of stablecoins run on the Ethereum network. Stablecoins are cryptocurrencies tied to government currencies like the dollar.
Hong Kong hosted its 10th FinTech Week recently. About 70 percent of attendees came from traditional finance, showing growing mainstream interest.
U.S. Government Actions on Crypto
The White House created a Strategic Bitcoin Reserve this year. The reserve uses coins obtained through federal seizures and forfeitures.
The government has not purchased any bitcoin directly. All holdings come from law enforcement actions.
Congress passed the GENIUS Act on July 18. The law creates a framework for stablecoins tied to the U.S. dollar.
The Trump administration rejected creating a U.S. central bank digital currency. Officials said their crypto policy works with dollar dominance.
Market Size and Investment Activity
The total value of all cryptocurrencies remains under $4.5 trillion. Global stock markets are much larger at $101.52 trillion.
Bitcoin dropped below $100,000 recently for the first time since late June. The drop came from concerns about U.S.-China trade tensions and high AI stock values.
Forbes estimates Trump personally holds about $870 million in bitcoin. This makes him one of the world’s largest individual bitcoin holders.
China ranks third globally in bitcoin mining activity. The U.S. leads, followed by Russia.
The U.S. dollar made up just under half of global payments in September. The Chinese yuan held a 3.17 percent share, ranking fifth.
China’s central bank governor promoted the digital yuan last week. He took a careful view of stablecoins while maintaining restrictions on speculative crypto trading.
