Bitcoin as a Potential Game-Changer for U.S. Debt?

Intriguingly, as debates swirl about the national debt, former President Donald Trump floated a bold idea: using bitcoin to “wipe out” America’s debt. “Imagine paying off $35 trillion with a little bitcoin check,” he joked, but with a hint of seriousness, at this year’s Bitcoin 2024 conference. Trump even hinted at creating a “strategic national bitcoin reserve” and projected that bitcoin could one day rival gold’s $16 trillion market cap.

Senator Rand Paul, who made headlines in 2015 for accepting bitcoin campaign donations, has similarly advocated for cryptocurrency as a potential replacement for the U.S. dollar, citing its ability to avoid government surveillance.

With support from both Musk and prominent politicians, the idea of bitcoin as a national asset has gained new life.

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