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United States President Donald Trump recently touted the positive impacts of Bitcoin (BTC) on the US economy, including relieving “pressure” from the US dollar during Friday’s White House press conference. The President said that he is a fan of the crypto industry, which has grown into a sector that cannot be ignored due to geostrategic competition. Trump added: “It has become amazing. I mean, it is the jobs that it produces, and I notice more and more you pay in Bitcoin. People are saying it takes a lot of pressure off the dollar, and it is a great thing for our country.” Digital asset researcher Anders X suggested that Trump’s comments were a reference to the Triffin Dilemma, or the conflict of interest between being the issuer of the global reserve currency, maintaining proper trade balances, and ensuring the long-term value of the currency. Trump speaking at Friday’s White House Press Conference. Source: The White House As the issuer of the global reserve currency, the US must run persistent trade deficits to meet the global demand for dollars so foreign countries can settle trade and use the dollar as a store of value against more rapidly depreciating local fiat currencies. This provides a short-term solution to meet global liquidity demands at the cost of the long-term value of the currency, as persistent trade deficits are financed through money creation, which dilutes the value of the US dollar. The Federal Reserve M2 money supply, a measure of the total supply of US dollars, continues to climb, diluting the value of each individual dollar. Source: TradingView Trump previously floated the idea of paying off the national debt with Bitcoin, a nod to the asymmetry between the inflationary dollar and the supply-capped asset. However, critics have said that even if the US Treasury…

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Filed under: News - @ June 29, 2025 12:23 am