Bitcoin

David

Donald Trump

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 <p class="paragraph">The U.S. national debt, currently at a staggering $34.77 trillion, has become a major concern for the country. In this context, Donald Trump has consulted with the Bitcoin Magazine CEO, wondering if the leading cryptocurrency can help with it.</p>
 <p class="paragraph">With a debt per citizen of $103,259 and a debt per taxpayer of $266,952, the situation is alarming. Moreover, the U.S. National Debt to GDP ratio has skyrocketed from 34.59% in 1980 to 122.27% today. Finbold retrieved this data from <em>usdebtclock.org</em> on May 28.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="497" src="https://cdn.thebittimes.com/images/2024/05/29/e444d51c2068145ff7810f59a35f78c7.webp" alt="" class="wp-image-179165" srcset="https://cdn.thebittimes.com/images/2024/05/29/e444d51c2068145ff7810f59a35f78c7.webp 1024w, https://cdn.thebittimes.com/images/2024/05/29/e444d51c2068145ff7810f59a35f78c7.webp 300w, https://cdn.thebittimes.com/images/2024/05/29/e444d51c2068145ff7810f59a35f78c7.webp 768w, https://cdn.thebittimes.com/images/2024/05/29/e444d51c2068145ff7810f59a35f78c7.webp 1096w" sizes="(max-width: 1024px) 100vw, 1024px">
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   U.S. National Debt-related data. Source: <em>usdebtclock.org</em>
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 <p class="paragraph">Interestingly, the <em>Bitcoin Magazine</em> posted on X on May 28, reporting the U.S. Treasury Secretary Janet Yellen’s sayings. Yellen warned that higher Federal Reserve interest rates would make it harder to control the National Debt.</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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    <p lang="en" dir="ltr">JUST IN: US Treasury Secretary Janet Yellen warns higher rates will make it harder to keep debt under control.<br><br>Opt out with #Bitcoin pic.twitter.com/seJW1YmTXx</p>— Bitcoin Magazine (@BitcoinMagazine) May 28, 2024
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 <h2 class="wp-block-heading" id="h-bitcoin-magazine-and-donald-trump">Bitcoin Magazine and Donald Trump</h2>
 <p class="paragraph">David Bailey, CEO of Bitcoin Magazine and a cryptocurrency aide to the Trump campaign, recently disclosed an intriguing conversation. During their first meeting, the presidential candidate Donald Trump inquired whether Bitcoin (BTC) could be leveraged to <a rel="noopener noreferrer nofollow" title="solve" href="https://thebittimes.com/tag/solve.html">solve</a> the national debt <a rel="noopener noreferrer nofollow" title="problem" href="https://thebittimes.com/tag/problem.html">problem</a>. Bailey, though unprepared to discuss the topic at the time, hinted at having some ideas.</p>
 <p class="paragraph"><em>Colin Wu</em> reported Donald Trump’s interest in Bitcoin as a tool to <a rel="noopener noreferrer nofollow" title="solve" href="https://thebittimes.com/tag/solve.html">solve</a> the U.S. National Debt on May 28.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">David Bailey, CEO of Bitcoin Magazine and a cryptocurrency aide of the Trump campaign, revealed that Trump asked if Bitcoin could be leveraged to <a rel="noopener noreferrer nofollow" title="solve" href="https://thebittimes.com/tag/solve.html">solve</a> the U.S. national debt <a rel="noopener noreferrer nofollow" title="problem" href="https://thebittimes.com/tag/problem.html">problem</a>. The Bitcoin Magazine team is advising Trump on developing a policy that is friendly to Bitcoin…</p>— Wu Blockchain (@WuBlockchain) May 28, 2024
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 <p class="paragraph">This revelation comes as Bailey and his team have been advising Trump’s campaign to develop a Bitcoin-friendly agenda. They have even presented an executive order focused on cryptocurrencies, which Trump would sign on his first day back in office. Trump, who previously expressed negativity towards Bitcoin, has since changed his stance, stating that his hypothetical upcoming administration would embrace the digital currency.</p>
 <p class="paragraph">In a <em><a rel="noopener noreferrer nofollow" title="Category Bitcoin News" href="https://thebittimes.com/bitcoin-news.html">Bitcoin News</a></em> report, Bailey emphasized the benefits a crypto-friendly administration would bring to the U.S. industry. He announced his team’s intention to raise $100 million to ensure the next President is pro-Bitcoin. However, Bailey clarified that their actions are not in favor of Trump but rather against President Biden’s anti-crypto policies.</p>
 <p class="paragraph">The <em>Bitcoin Magazine</em> has been actively posting Donald Trump-related content on X.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="560" src="https://cdn.thebittimes.com/images/2024/05/29/16718fef591d6f8e756973a1d2bee426.webp" alt="" class="wp-image-179166" srcset="https://cdn.thebittimes.com/images/2024/05/29/16718fef591d6f8e756973a1d2bee426.webp 1024w, https://cdn.thebittimes.com/images/2024/05/29/16718fef591d6f8e756973a1d2bee426.webp 300w, https://cdn.thebittimes.com/images/2024/05/29/16718fef591d6f8e756973a1d2bee426.webp 768w, https://cdn.thebittimes.com/images/2024/05/29/16718fef591d6f8e756973a1d2bee426.webp 1536w, https://cdn.thebittimes.com/images/2024/05/29/16718fef591d6f8e756973a1d2bee426.webp 1605w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Bitcoin Magazine Donald Trump-related posts series. Source: X / Finbold
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 <p class="paragraph">As the 2024 presidential election approaches, Bitcoin’s role in shaping the political landscape becomes increasingly evident. With the national debt crisis looming, the question of whether Bitcoin can provide a solution remains open for debate. As the campaign unfolds, the crypto community will undoubtedly be watching closely to see how this issue develops.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/donald-trump-asks-if-bitcoin-can-help-solve-the-u-s-national-debt-problem-tbt90217.html">https://thebittimes.com/donald-trump-asks-if-bitcoin-can-help-solve-the-u-s-national-debt-problem-tbt90217.html</a></p>

Donald Trump asks if Bitcoin can help solve the U.S. National Debt problem

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