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Bitcoin & Crypto Cheques To Clear $35T US Debt, Donald Trump
The post Bitcoin & Crypto Cheques To Clear $35T US Debt, Donald Trump appeared on BitcoinEthereumNews.com. The conversation about using Bitcoin (BTC) and cryptocurrency to service the United States National Debt is fast gaining momentum. This time around, Republican Presidential candidate Donald Trump has weighed in on the matter. He is confident that these assets can wipe out the staggering $35 trillion debt. Bitcoin to Hit Millions of Dollars in Price Donald Trump attended an interview with FOX Business and while speaking, he touched on the possibility of using Bitcoin and crypto cheque to offset the US national debt that has now reached an All-Time High (ATH). This is not the first time that the suggestion is coming up and it is not surprising that it is coming from Trump. Recently, Bitcoin proponents have lauded the coin’s capacity to offset the United States’ $35 trillion national debt. The basis for their stance is that Bitcoin would reach millions of dollars per coin in a few years. Bearing this in mind, they have suggested that the US government acquire a huge Bitcoin reserve and hold it for about 20 years. At the end of this period, it is expected that BTC price would have grown and then the government can sell the holding to pay off the debt without leading to inflation. Similarly, Senator Cynthia Lummis of Wyoming suggested establishing a strategic reserve for Bitcoin. Based on her proposal, the reserve will serve as a backing for the US dollar, making it stronger globally. Ultimately, the inclusion of this cryptocurrency as financial asset will strengthen the US economy, per Sen. Lummis opinion. She revealed this bill for the strategic Bitcoin reserve while attending the 2024 Bitcoin Conference. To kick off this new era, the first step is to buy 1 million BTC. This will represent about 5% of all Bitcoin available worldwide. Is Bitcoin the Solution to US…
The post Bitcoin & Crypto Cheques To Clear $35T US Debt, Donald Trump appeared on BitcoinEthereumNews.com.
The conversation about using Bitcoin (BTC) and cryptocurrency to service the United States National Debt is fast gaining momentum. This time around, Republican Presidential candidate Donald Trump has weighed in on the matter. He is confident that these assets can wipe out the staggering $35 trillion debt. Bitcoin to Hit Millions of Dollars in Price Donald Trump attended an interview with FOX Business and while speaking, he touched on the possibility of using Bitcoin and crypto cheque to offset the US national debt that has now reached an All-Time High (ATH). This is not the first time that the suggestion is coming up and it is not surprising that it is coming from Trump. Recently, Bitcoin proponents have lauded the coin’s capacity to offset the United States’ $35 trillion national debt. The basis for their stance is that Bitcoin would reach millions of dollars per coin in a few years. Bearing this in mind, they have suggested that the US government acquire a huge Bitcoin reserve and hold it for about 20 years. At the end of this period, it is expected that BTC price would have grown and then the government can sell the holding to pay off the debt without leading to inflation. Similarly, Senator Cynthia Lummis of Wyoming suggested establishing a strategic reserve for Bitcoin. Based on her proposal, the reserve will serve as a backing for the US dollar, making it stronger globally. Ultimately, the inclusion of this cryptocurrency as financial asset will strengthen the US economy, per Sen. Lummis opinion. She revealed this bill for the strategic Bitcoin reserve while attending the 2024 Bitcoin Conference. To kick off this new era, the first step is to buy 1 million BTC. This will represent about 5% of all Bitcoin available worldwide. Is Bitcoin the Solution to US…
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