Former U.S. President Donald Trump emphasized the importance of the U.S. leading in cryptocurrency, suggesting that the government could pay off its $35 trillion national debt with bitcoin. He described crypto as “a different form of currency” that is already “prominent” and “massive,” stating that “it’s going to end up benefiting the country.”
Trump Suggests Paying off $35 Trillion National Debt With Bitcoin — Wants US to Be Leader in Crypto
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Trump Advocates for US Leadership in Cryptocurrency
Former U.S. President and Republican presidential nominee Donald Trump discussed cryptocurrency in an interview with Fox Business on Friday. He was asked how he plans to enhance the prominence of crypto in the U.S. following his recent promises at a bitcoin conference.
“You have to understand about crypto. Crypto is a very interesting thing, very high level in certain ways, intellectually very high level,” Trump began. He reiterated his stance that if the U.S. doesn’t embrace crypto, China and other countries will. “So we might as well be at the forefront,” he opined.
“There are people in crypto that are very, very smart people who do love our country, and they think it’s good,” Trump noted, adding:
Who knows, maybe we’ll pay off our $35 trillion. Hand them a little crypto check … hand them a little bitcoin and wipe out our $35 trillion.
The former president was pressed with the question: “How do you want it to be more prominent in America? How will that work?” Trump replied: “Oh, it’s going to work easily. It’s already prominent.” He continued: “It’s moving along. It’s very loosely regulated. That’s one of the reasons it’s moving along.”
He emphasized the importance of the U.S. embracing crypto to avoid falling behind other countries. “We have the people that are the leaders” in the crypto field, Trump noted, adding: “I know some of them. They’re very smart.” He stressed: “And if we don’t embrace it, other countries are going to embrace it. Other countries will anyway, but we can be the leader, and we might as well be the leader.”
Trump pointed out that the market cap for crypto is already bigger than many companies and countries. “It’s a massive thing already,” he explained, stating:
It is a different form of a currency, and it’s going to end up benefiting the country.
The former president also criticized the Biden administration’s attempts to shut down crypto, questioning Biden’s understanding and capability to do so, and suggesting that Biden doesn’t grasp what crypto truly is.
What are your thoughts on Trump’s stance on cryptocurrency? Do you believe the U.S. government could reduce its national debt using bitcoin? Share your opinions in the comments section below.
