Trump Considers Bitcoin As Potential Solution To National Debt Crisis
Could Bitcoin be the answer to America’s staggering national debt? That’s the question Donald Trump reportedly posed to David Bailey, CEO of Bitcoin Magazine and a cryptocurrency aide to the Trump campaign. The revelation came during an X Space discussion on Sunday night.
Bitcoin and other cryptocurrencies have been looking more and more attractive during the reign of President Joe Biden, as the value of the U.S. dollar continues to diminish in a slap in the face to savers.
According to Bailey, the former president asked if Bitcoin could help tackle the $35 trillion debt during their first meeting. Bailey admitted he had some ideas but wasn’t prepared to discuss them at the time.
The disclosure has set the crypto world abuzz. Trump, widely expected to be the next US president, has recently made several Bitcoin-friendly statements. But this latest tidbit suggests he’s actively considering how the digital currency could be leveraged to address the nation’s financial woes.
It’s a stark contrast to the stance taken by current President Joe Biden, who has faced criticism from opposition leaders for the surging national debt. With the US federal debt ballooning from $403 billion in 1923 to $33.17 trillion in 2023, it’s clear that fresh solutions are needed.
Trump’s interest in Bitcoin as a tool for tackling the debt crisis is sure to be a hot topic as the election draws near. Will the former president’s crypto-friendly approach win him support from the Bitcoin community? Only time will tell.
