Trump Says Crypto Could Be Key to Paying Off $35T Debt

In a recent conference, Trump hinted at a potential role for crypto in addressing America’s mounting national debt.

When asked about the future of crypto if he doesn’t win the upcoming election, Trump surprised many with his positive outlook. “I think it’s a good future,” he stated, adding, “I think crypto’s got a great future. I think it really does.”

But it was his next comment that really turned heads. Trump playfully suggested using crypto to tackle the nation’s $35 trillion debt. “Maybe we’ll pay off the 35 trillion dollars,” he mused. “I’ll write out a little piece of paper, 35 trillion crypto. We have no debt. Right? That’s what I like.”

BREAKING: 🇺🇸 Donald Trump says, “I think crypto has got a great future. Maybe we will pay off the $35 trillion” with it. pic.twitter.com/R5k4FU3Nah

— Bitcoin Magazine (@BitcoinMagazine) September 23, 2024

Trump’s Evolving Crypto Stance

This isn’t the first time Trump has shown his affection towards crypto. In an August interview with Fox Business, he delved deeper into his thoughts on it.

“You have to understand about crypto. Crypto is a very interesting thing, very high level in certain ways, Trump explained. He emphasized the importance of the U.S. being at the forefront of crypto adoption. He also warned that if America doesn’t embrace it, other countries like China will take the lead.

Trump also acknowledged the crypto community’s patriotism and intellect. “There are people in crypto that are very, very smart people who do love our country, and they think it’s good,” he noted.

During his presidency, he famously tweeted that he was “not a fan of Bitcoin and other Cryptocurrencies,” citing their high volatility and lack of regulation.

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….

— Donald J. Trump (@realDonaldTrump) July 12, 2019

As the 2024 election approaches, Trump’s newfound openness to crypto could potentially influence the Republican Party’s stance on digital assets. It also raises questions about how cryptocurrency regulation might turn out to be in the US.