Trump Declares U.S. as Future "World Capital of AI and Crypto" at Davos Forum
President Donald Trump has reaffirmed his commitment to positioning the United States at the forefront of technological innovation, declaring it the "world capital" of both artificial intelligence (AI) and cryptocurrency. Speaking via livestream at the World Economic Forum in Davos, Switzerland, Trump outlined his administration’s strategic initiatives aimed at leveraging the nation’s vast resources to drive economic growth and technological supremacy.
A Vision for American Innovation
During his address, Trump emphasized the importance of utilizing the U.S.'s substantial oil and gas reserves to bolster the economy. “The United States has the largest amount of oil and gas of any country on Earth, and we're going to use it,” Trump stated. He highlighted that this strategy would not only reduce the cost of goods and services but also transform the U.S. into a manufacturing superpower. This foundational economic strength, according to Trump, will support the country’s ambitions to lead in AI and cryptocurrency.
Crypto Initiatives Under Trump’s Leadership
Trump’s vision for a crypto-centric America is not merely rhetorical. Last August, he took to X (formerly Twitter) to pledge support for making the U.S. the “crypto capital of the planet,” teasing his forthcoming crypto project. This initiative materialized as World Liberty Financial (WLF), a decentralized finance (DeFi) protocol that names Trump as its "chief crypto advocate."
Just days before his inauguration, Trump launched Official Trump (TRUMP), a memecoin that has quickly amassed an $8 billion market capitalization, according to The Block's TRUMP price data. The token's debut included a White House briefing with AI leaders, where Trump modestly acknowledged its success: “I don’t know much about it other than I launched it. I heard it was very successful. I haven’t checked.”
Market Impact and Institutional Support
Trump’s pro-crypto stance has already begun to influence market dynamics. Following his Davos speech, Bitcoin (BTC) saw a brief surge, peaking at $106,000 before stabilizing around $105,000. This increase is attributed to investor optimism surrounding Trump’s potential crypto-friendly policies and regulatory reforms.
Additionally, institutional support continues to grow. Earlier Thursday, Bitcoin’s price reaction was further buoyed by Sen. Cynthia Lummis announcing her leadership of the newly formed digital asset subcommittee within the U.S. Senate Banking Committee. Lummis, known for her crypto-friendly stance, aims to shape policies that support the burgeoning digital asset market.
Strategic Moves Towards Regulatory Clarity
Trump’s administration is poised to introduce executive orders that could significantly influence the crypto landscape. Among the anticipated measures are the elevation of cryptocurrency as a national priority and the creation of a crypto advisory council. These initiatives are expected to provide clearer regulatory guidelines, fostering an environment conducive to innovation and growth within the digital asset sector.
The administration’s proactive approach contrasts sharply with the previous years under President Joe Biden, where regulatory crackdowns on crypto firms, such as the collapse of the FTX exchange, were prominent. With a renewed focus on supporting technological advancements, the U.S. aims to attract global talent and investments in AI and crypto.