At the Gulf-US Summit in Saudi Arabia, President Donald Trump claimed the United States is beating China in crypto, telling the room, “We’re leading China in crypto.”
Trump then doubled down, saying, “I’m a big crypto fan.” That wasn’t all. While making the case for global crypto leadership, Trump told attendees he believes Bitcoin is worth over $10 trillion after projecting a strong stock and crypto market push, saying it is all “gonna go a lot higher.”
Despite the comments, the market didn’t react. Not up. Not down. At the time of the speech, Bitcoin was priced at $103,090. A month or two ago, comments like these from him would have shaken the entire crypto market. This time, traders weren’t moved. The silence told its own story.
Trump signs $600B Saudi deal and walks away from Bibi
During the same trip, Trump signed a massive $600 billion strategic partnership with Saudi Arabia, aimed at boosting the American economy. Trump called the agreement “essential” and applauded Crown Prince Mohammed bin Salman for maintaining close ties.
Trump also praised the Gulf nations for helping return Edan Alexander, an American citizen who had been held hostage. He made a point of saying the US and its Gulf allies were working closely to protect civilians, counter terrorism, and support peace efforts.
He turned attention to the crisis in Gaza, calling out Hamas for what he described as hypocrisy, saying they can’t pursue peace “while delighting in terror.”
Trump also said he wants help sent to Gazan children, including food and water. But what stood out more was his sudden move away from Israeli Prime Minister Benjamin Netanyahu, who has visited him twice since January.
Trump now reportedly believes Bibi has been misleading and manipulating him on Gaza, and that’s why the communication has cooled. The distance is clear, and it’s new.
Bitcoin holdings reveal quiet race between US and China
Outside the headlines about tariffs and war, Trump’s focus on crypto shows the deeper power game. Right now, the US government holds 198,000 BTC. China holds close to 190,000 BTC. But how they got there couldn’t be more different.
America’s stash came from seizures—coins taken from Silk Road, hacking groups, and exchange takedowns. The assets are now sitting off-market, treated like long-term reserves.
China took a different approach. Even after shutting down miners, Chinese companies kept control of major infrastructure. They still lead in ASIC mining rigs, backend software, and systems that run large portions of Bitcoin’s global operations.
Trump made that contrast clear. While saying the US is ahead, he also threw out an open hand to Chinese crypto projects. “Please tell me a big project from China in crypto, I will support it,” he said.
That left the door open for future cooperation, even while he repeated the claim that America is ahead in the race.
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