Donald Trump

United

President Trump

President Donald Trump

<h4><strong>Former President Donald Trump has stirred up quite a conversation by suggesting that the United States could use crypto to pay off its enormous $35 trillion debt.</strong></h4>
<p>But what does this mean, and how could it work? Let’s break it down in simple terms.</p>
<h5><strong>Trump Suggests Crypto Could Help Pay Off $35 Trillion US Debt</strong></h5>
<p>First, let’s talk about what the $35 trillion debt is. When we say “debt,” it means the money the U.S. government owes to others, like other countries, companies, and even people. To put it in perspective, right now, the <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="noopener noreferrer nofollow">total marketcap</a> of the crypto market is just $2.32 trillion.</p>
<p>So, Trump believes that using the reserves of Bitcoin that the US government owns, could be a solution to help pay off this debt. According to <a href="https://platform.arkhamintelligence.com/explorer/entity/usg" target="_blank" rel="noopener noreferrer nofollow">Arkham</a>, the US gov owns 203k BTC. So, Trump thinks that if the U.S. invested wisely in crypto, it could potentially raise enough money to chip away at that massive debt.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">BREAKING: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Donald Trump says, “I think crypto has got a great future. Maybe we will pay off the $35 trillion” with it. <a href="https://t.co/R5k4FU3Nah" rel="noopener noreferrer nofollow">pic.twitter.com/R5k4FU3Nah</a></p>
 <p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1838139837729181982?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 23, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>While Trump’s idea is bold, many people have different opinions about using crypto to pay off the debt. Some experts believe it could be a smart move, while others worry about the risks involved. It’s important to remember that paying off such a huge debt will take time and careful planning.</p>
<h5><strong>More About Bitcoin &amp; Trump</strong></h5>
<p>Former President <a href="https://www.altcoinbuzz.io/?s=donald+trump" target="_blank" rel="noopener noreferrer nofollow">Donald Trump</a> made headlines by paying his tab at a New York City bar using Bitcoin, marking the first time a U.S. president has publicly used cryptocurrency.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: President Trump just paid his tab in a NYC bar using Bitcoin making this the first public crypto transaction by a president. <a href="https://t.co/Df5PWFSsfR" rel="noopener noreferrer nofollow">pic.twitter.com/Df5PWFSsfR</a></p>
 <p>— Dom Lucre | Breaker of Narratives (@dom_lucre) <a href="https://twitter.com/dom_lucre/status/1836511434114498696?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 18, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Trump, known for his recent shift toward supporting digital currencies, completed the transaction at PubKey, a crypto-friendly bar. This historic moment signals Trump’s growing interest in Bitcoin and showcases his willingness to embrace the evolving world of digital payments.</p>
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg"></a></p>
<div class="youtube-embed" data-video_id="fnC0u71do_4"><iframe title="BlackRock, Bull Markets &amp; Memecoins: Coach K - Do You Even Crypto?" width="696" height="392" src="https://www.youtube.com/embed/fnC0u71do_4?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/trump-crypto-could-help-pay-off-us-debt/" rel="noopener noreferrer nofollow">Trump: Crypto Could Help Pay Off US Debt</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Trump: Crypto Could Help Pay Off US Debt

Altcoin Buzz

Other articles published on Sep 23, 2024

Here’s How Bitcoin Price Performed in Q4 – Will BTC Smash 100K Soon?

Solana Mobile’s Seeker Web3 Phone Set for 2025 Release, Offering Exclusive Crypto Rewards

Coinpedia Fintech News

How Does dVPN Integration Elevate this Layer 1 Blockchain Above the Rest?

Bored Ape NFT Buyers Claim OpenSea Sold Illegal Securities

Ethereum Positioned for Rally to $2.8k, Suggested by Swift Liquidation Levels

Join our free newsletter for daily crypto updates!