Trump Proposes Using Bitcoin to Pay Off $35 Trillion Debt

Trump suggested using Bitcoin to pay off the $35 trillion US national debt, highlighting its potential to stabilize the economy & mitigate inflation.

The US adds $1 trillion to the national debt roughly every 100 days, with 76% of income tax revenue in June going to interest payments.

Trump and others believe Bitcoin, with its capped supply, can absorb inflation and serve as "sound money" in contrast to the devalued US dollar.

Senator Cynthia Lummis proposed a bill for a US Bitcoin strategic reserve, aiming to hold 5% of Bitcoin's total supply for 20 years.

Robert F. Kennedy Jr. supports the idea of a Bitcoin reserve to help the US pay off its debt as Bitcoin appreciates in value over time.

Trump emphasized the need for US innovation in digital assets to prevent other countries from outpacing America's financial dominance.

For More English Blogs Click Here