Donald Trump Suggests Using Crypto to Pay Off U.S. Debt
During his 2024 presidential campaign, Donald Trump floated the idea of using cryptocurrency to help pay off the United States' $35 trillion national debt.
In a recent statement during his 2024 presidential campaign, former U.S. President Donald Trump floated the idea of using cryptocurrency to help pay off the United States' $35 trillion national debt. Speaking at a fundraising event, Trump suggested, somewhat tongue-in-cheek, that crypto could offer a future solution for the country’s financial obligations.
Trump: "I think crypto has got a great future."
— TFTC (@TFTC21) September 23, 2024
"Maybe we will pay off the $35 trillion in crypto." pic.twitter.com/l0j4n4YJMB
"I think it's got a great future. Maybe we'll pay off the $35 trillion," Trump remarked, adding that he could “write out a little piece of paper, 35 trillion crypto,” jokingly implying that such a move would eliminate the country’s debt.
After previously expressing skepticism about Bitcoin during his presidency, Trump has shifted to a more positive tone. Recently, he became the first U.S. president to conduct a Bitcoin transaction, using the technology to pay for a meal at PubKey, a Bitcoin-themed bar in New York City.
Donald Trump completes the first-ever #Bitcoin transaction by a president.pic.twitter.com/Rs3HOrrQua
— TFTC (@TFTC21) September 18, 2024
During his campaign, Trump has pledged to make the U.S. the "crypto capital of the world" if re-elected. His embrace of Bitcoin has also resonated with a growing base of Bitcoin-friendly voters.
Vice President Kamala Harris, Trump’s opponent, has also made her first public remarks on digital assets during a New York fundraiser, highlighting her support for “innovative technologies like A.I. and digital assets.” Though Harris did not specifically mention Bitcoin, her comments suggest a broader acceptance of emerging financial technologies in her campaign.
