Key Takeaways
- Donald Trump suggests using Bitcoin to pay off the US's $35 trillion debt.
- The cryptocurrency community supports Trump’s campaign with donations in BTC and Ethereum.
- Trump advocates for the US to become a global leader in cryptocurrencies.
In a recent interview with FOX Business, U.S. Presidential Candidate Donald Trump proposed an unconventional method to address the nation’s $35 trillion debt: using Bitcoin.
He remarked:
Maybe we’ll pay off our $35 trillion and hand them a little crypto check, right? Hand them a little Bitcoin, and wipe out the $35 trillion.
This bold suggestion highlights Trump’s increasing advocacy for Bitcoin and other cryptocurrencies over the past year.
Throughout his reelection campaign, Trump has embraced the title of the “crypto president,” advocating for pro-cryptocurrency policies and initiatives. In a discussion with Bloomberg, he emphasized that cryptocurrencies like Bitcoin are “not going away” and stressed the importance of the U.S. becoming a global leader in the crypto space. There are even rumors suggesting that Bitcoin could serve as a reserve asset for the U.S. Government, potentially playing a crucial role in addressing the national debt crisis.
Trump’s suggestion comes amidst discussions of transferring seized Bitcoin from the Department of Justice to the Department of the Treasury, transforming it into a national reserve currency. Although this plan has not been confirmed by Trump, it has sparked significant attention and support as a potential strategy to bolster the U.S. Dollar.
