(MENAFN- Yolo Wire) Speaking at a business forum, U.S. President Donald Trump said he wants the U.S. to become a "Bitcoin superpower."

Trump said it is important that America beat China in the crypto sector and said that cryptocurrency dominance is a matter of national security for the United States.

The president also linked digital assets to the U.S. dollar, saying "it takes a lot of the pressure off the dollar. It does a lot of good things…"

He went onto say that "we're making the United States the Bitcoin superpower, the crypto capital of the world."

However, Trump warned repeatedly of competitive pressures from China.

"Don't forget, if we don't do the crypto properly, China … China wants to do it. They're starting it, but they want to do it. Other countries want to do it."

Trump's latest remarks about crypto come after his administration created a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile using Bitcoin (CRYPTO: $BTC) and other digital assets seized by law enforcement.

The Trump administration has also passed into law a stablecoin framework and rejected a U.S. central bank digital currency in favour of Bitcoin.

However, the president's comments also come as Bitcoin and other cryptocurrencies see their prices decline, with BTC currently trading at $102,000 U.S.

That's down from an all-time high of just over $126,000 U.S. for Bitcoin reached in early October.

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