Former President Donald Trump has publicly supported Bitcoin (CRYPTO:BTC), advocating for its classification as a strategic reserve asset for the United States.

Trump emphasised BTC's geopolitical significance, warning against policies that could hinder its growth, which he believes would benefit China and Russia.

This endorsement marks a significant shift in political attitude towards cryptocurrencies, with Bitcoin-friendly leaders like Vivek Ramaswamy and Senator Cynthia Lummis also pushing for integrating BTC into economic strategies.

The proposal to back the US dollar with a basket of commodities including BTC aims to stabilise currency value amid inflation concerns.

Discussions around Bitcoin's role in bolstering the nation's fiscal health highlight its potential impact on economic statecraft and international trade, emphasising its decentralised nature and value as a store of wealth.