🚨Donald Trump recently proposed paying off the $35 trillion US national debt with cryptocurrency, sparking a heated debate. At a fundraising event, Trump joked about writing a "little paper" to allocate $35 trillion in cryptocurrency, essentially wiping out the debt ¹. He also expressed optimism about cryptocurrency's future, calling it a game-changer🚀
However, experts argue that Trump's plan isn't feasible. Economist Justin Wolfers pointed out that this isn't how debt, crypto, or economics work ². Others noted that to reach a total value of $35 trillion, Bitcoin's price would need to skyrocket from $60,000 to $2.1 million ².
Despite the skepticism, some experts see potential benefits. Paul Mueller, a senior research fellow at the American Institute for Economic Research, believes that developing and running cryptocurrency projects in the US could boost the economy and provide citizens with better asset management and payment options ².
*The Implications of Trump's Proposal:*
- _Cryptocurrency Value Surge_: Bitcoin's price would need to rise dramatically to cover the $35 trillion debt ².
- _Economic Benefits_: Developing cryptocurrency projects in the US could have positive economic effects ².
- _Debt Relief_: Using cryptocurrency to pay off the national debt could provide relief, but its feasibility is questionable ¹ ².
It's essential to consider the potential consequences of Trump's proposal and weigh the pros and cons. While it's uncertain whether this plan will come to fruition, it's clear that cryptocurrency is becoming increasingly important in the US economy ¹.