During his 2024 campaign, President-elect Donald Trump embraced cryptocurrency and even hinted at creating a “Bitcoin reserve” in which the United States would hoard cryptocurrency in the same way that it keeps reserves of key resources such as gold and petroleum.
However, Forbes reports that China may have already beaten Trump to the punch by establishing its own reserve, which Forbes describes as the president-elect’s “nightmare.”
Forbes cites comments made by former Trump official Anthony Scaramucci during a recent podcast appearance as evidence.
“I think China is already acquiring [bitcoin],” Scaramucci recently stated on the Bankless Podcast. “[China] knows Trump is going to be pro and long bitcoin.”
In addition, Forbes says, “China and the U.S. both have around 200,000 bitcoin as a result of seizures from criminals, though the U.S. is expected to eventually sell its bitcoin at auction—something Trump said he doesn’t want to happen.”
