- Trump plans to use Bitcoin to reduce the $35 trillion US debt if elected in 2024.
- He aims for the US to lead the global crypto space, outpacing China.
- Trump slammed Biden, adding that the current president doesn’t understand crypto.
Donald Trump, the Republican candidate for the 2024 Presidential Election, sat down with FOX Business’ Maria Bartiromo to discuss cryptocurrencies, his crypto policies, and how he plans to make the United States a leader in the digital asset space. He also shared insights into how he plans to reduce the US national debt of $35 trillion using Bitcoin, the leading cryptocurrency.
In the FOX interview held in Bedminster, N.J., on Thursday, Trump emphasized his goal to put the United States in the number one spot for digital asset growth. He stated that other countries, including China, are already taking significant steps to dominate the crypto space, and that the US needs to surpass them to become the global leader.
Trump also criticized current President Joe Biden, who is not seeking a second term, asserting that Biden lacks the intellect to understand or regulate crypto. He added:
“Biden doesn’t have the intellect to shut it [crypto] down. Can you imagine this guy telling you to shut something down like that? He has no idea what the hell it [crypto] is.”
Trump highlighted that the crypto market is larger than some companies and even entire countries, stressing that the time to support the digital asset sector is now. He warned that if the US fails to embrace crypto, other countries will lead the crypto space.
Trump further outlined his plans to tackle the $35 trillion US debt. He explained how he was on track to address this issue during his previous tenure until the Covid-19 pandemic derailed his efforts. The billionaire has ambitious plans to leverage crypto to strengthen the US economy.
“But if we don’t embrace it, it’s gonna be embraced by other people…other countries will anyway. But we can be the leader, and we might as well be the leader.”
Trump also hinted that he might reduce the US debt by paying creditors in Bitcoin, further bolstering the case for Bitcoin as a store of value.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
