Tanya Abrosimova
Independent Analyst
- Bitcoin supporter urges the US President to challenge China.
- America risks losing its technical dominance to China.
Co-founder of Morgan Creek Digital and a prominent bitcoin supporter Antony Pompliano urged Trump to compete with China for bitcoins. He noted that the US should stop China from cornering the cryptocurrency market by buying all Bitcoins. He also reminded us that Bitcoin's issuance is limited by 21 million coins.
"Someone tell President @realDonaldTrump that there are only 21 million Bitcoin and China is planning to buy them all. This is going to be the real US - China competition. That should get him to pay attention. The guy hates losing and will try to buy them all," he wrote in his Twitter account.
Meanwhile, the US President is not a big fan of cryptocurrencies. He was noted posting critical comments about digital coins and projects similar to Facebook's Libra. He also stressed that the US dollar was only one real currency in the country.
However, Pompliano says that China's official support for blockchain is a threat to US technological dominance.
"Chinese President Xi Jinping just publicly supported China going all-in on blockchain technology across their economy. This will be the space race of our generation. America has to embrace the technology, including Bitcoin, or we risk being left behind," he wrote.
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