Trump Calls for U.S. to Lead in Cryptocurrency to Address National Debt
Trump Urges U.S. to be at the Forefront of Cryptocurrency
Former U.S. President Donald Trump told Fox Business that the country needs to be in the front on cryptocurrency. His advice was to use bitcoin to pay off the $35 trillion national debt in case Congress authorizes. Trump described the crypto as “a different form of currency,” which is already “prominent” and “massive,” thus able to help the country.
Trump’s Opinions on Crypto
Trump shared his thoughts on cryptocurrency, calling it “very high level” and intellectually challenging. If America doesn’t adopt crypto, he warned that China and other countries will move very fast. According to him, the U.S. should be at the front of the line in this technology.
Trump had one really out-of-the-box idea about the national debt. “Maybe we’ll pay off our $35 trillion,” he said. “Hand them a little crypto check hand them a little bitcoin and wipe out our $35 trillion.”
Making Crypto More Prominent
When asked how he plans to give crypto a bigger voice in the U.S., Trump responded that it would be easy because it’s already gaining traction. He then mentioned that crypto is “very loosely regulated,” which is one of the things that are really helping it grow.
Importance of Embracing Crypto
He said that the U.S. needs to look into crypto, else the country is going to fall behind. He said the U.S. has some of the smartest people in the field of crypto and, therefore, should lead in this area. “If we don’t embrace it other countries are going to embrace it,” he added.
Growth of Crypto
He pointed out that the present market cap for crypto is already larger than many companies and countries, so it will benefit the country as it keeps on growing.
Biden Administration Attacks
Trump criticized the Biden administration about the attempts made to shut down crypto. He further questioned whether Biden understands crypto and its potential for it. Trump insinuated that Biden doesn’t get what crypto really is.