The post Trump’s $35T Bitcoin cheque idea: Crypto as solution to US debt? appeared on BitcoinEthereumNews.com.

Trump’s shift to promoting crypto may be driven more by campaign strategy than genuine belief. The upcoming U.S. election could significantly impact Bitcoin’s future and crypto-friendly policies. Former President Donald Trump, who once disparaged cryptocurrencies as a scam, has dramatically shifted his stance, now embracing the crypto space with unprecedented enthusiasm. Trump’s pro-crypto moves in question This election cycle, he’s captured the attention of crypto voters through various high-profile actions, including accepting crypto donations, proposing a strategic Bitcoin reserve for the U.S., marketing Bitcoin-themed merchandise, and making a significant appearance at the Bitcoin Conference 2024. However, despite his support, Trump seemed notably unprepared during a recent FOX Business interview when questioned about his vision for advancing crypto’s role in America. His answers highlighted a lack of understanding of crypto and what it is supposed to do. When asked about his speech at the Bitcoin [BTC] Conference 2024 about wanting crypto to have a more prominent role in America, he said, “You have to understand about crypto, crypto is a very interesting thing. Very high level in certain ways, intellectually very high level. But if we don’t do it, China’s gonna do it. China’s gonna do it anyway, China’s already doing it. And if we don’t do it, other countries are gonna do it. So we might as well be at the forefront.” Here he didn’t mention what it is that China and other countries are doing. What’s more to it? He further went on to compare BTC with traditional finance when he mentioned that the US could hand a Bitcoin cheque worth $35 trillion to pay off the US national debt. He said, “Who knows, maybe we’ll pay off our $35 trillion, hand them a crypto cheque, hand them a little Bitcoin, and wipe out our $35 trillion.” This showcased…

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Filed under: News - @ August 6, 2024 5:24 pm