During the election campaign, Trump set a plan for the United States, which was to introduce Bitcoin into America's financial system, but this cannot offset the debt crisis that the U.S. is currently facing, and Trump has also previously mentioned bad news about Bitcoin.
However, at the moment Trump is using Bitcoin as a bargaining chip in his new term's economic policy, and he has even said: to make America a superpower in Bitcoin.
So is there any reasonableness to what Trump said?
After all, America is currently facing $35 trillion in national debt, which far exceeds its total economic value. U.S. debt crisis.
Although former President Biden has already implemented a series of measures to alleviate America's debt crisis, American debt is still on the rise.
When Biden took office in 2022, he stated that no matter what, America's debt must not exceed $270 trillion.
But a year later, this figure directly turned into $35 trillion, and this overnight surge not only left Biden himself feeling terrified, but other countries around the world felt the same.
Because the U.S. debt figures have far exceeded its $27 trillion GDP, which has forced its GDP ratio to reach 120%.
Generally, when a country's national debt to GDP ratio exceeds 60%, it is considered to be in a debt crisis, and 60% is also the safety red line for developed countries.
This data in the United States not only worries itself but also shocks the global economy, as the economic development of the United States has always ranked among the top in the world.
Therefore, when a crisis occurs in the U.S. economy, it will naturally affect the economic trends of other countries, but it also provides an opportunity for other countries to develop.
The current debt crisis in the United States is affecting the global economy, so they are hurrying to find ways to reduce reliance on the dollar, avoiding dragging their own economic system into a quagmire.
Trump restarts the U.S. economy.
At a time when the United States faces such a serious debt crisis, Trump actually dares to say he wants to make America a superpower in Bitcoin?
This also raises questions, not just because Trump previously said that Bitcoin is bad.
So why has he gone back on his word now?
In fact, the reason why Trump has backtracked and used Bitcoin as his campaign slogan is that Trump himself is a businessman.
We all know that what businessmen value most is profit, and Trump has seen that the momentum of Bitcoin's surge is gradually increasing.
Since Trump left office, Bitcoin's price has been on the rise and even once broke 90% of the highest price.
This also made Trump feel that Bitcoin could be a disadvantage against his competitor Biden, after all, Biden once stated during his vice presidency: "If I take office, the United States will become a country that bans Bitcoin."
He even applied to completely shut down Binance, the world's most famous Bitcoin exchange, and wants to capture its founder Zhao Changpeng to the United States for trial.
This directly caused panic in the cryptocurrency industry and suppressed Bitcoin's price to $3,000.
So Trump took this opportunity to use Bitcoin as a selling point in his campaign, and he also said: "Dark web transactions worth $6 billion, Bitcoin increased by 300%."
Trump also said: "If I am elected president, I will help America become a superpower in Bitcoin."
Trump also stated: "The U.S. Bitcoin market is being taken away by other countries, mainly because U.S. government policies are disappointing. I will help America control Bitcoin."
But how are you going to control it?
Trump had previously said that Bitcoin is a scam, claiming: "Bitcoin is not a good thing; it will affect the credibility of the dollar and also affect the U.S. capital market economy."
Before Trump's departure, Bitcoin's price was around $60,000, but after Trump stated he wanted to make America a superpower in Bitcoin, Bitcoin soared and even once broke $100,000, reaching 90% of the $200,000 he mentioned.
This also made Trump happy, after all, Trump still has about $25 million worth of Bitcoin under his name, so if the next term can really make America a superpower in Bitcoin, Trump will make a fortune.
Can America use Bitcoin to repay its debts?
Trump's statement is indeed something to look forward to, after all, if America can really use Bitcoin's increase to repay national debt, the national debt will be completely repaid.
Based on Bitcoin's 300% increase, if it really reaches $200,000 by 2026, then for America, paying off national debt will be a piece of cake.
There are even more astonishing claims that if Bitcoin's price triples, then the U.S. national debt will have money to repay.
This is undoubtedly good news for the United States, as it could easily solve America's national debt problem, and the country will gradually become a developed nation.
The international status of contemporary currency is determined by the economic strength of each country, so once Bitcoin becomes an international currency, its status will be much higher than the current dollar.
So what Brankey said: "Despite the high increase in Bitcoin's price, when it ultimately becomes an international currency, the price will be even higher."
Conclusion
"If I am elected president, I will help America become a superpower in Bitcoin," this statement brings us great expectations, that is, if America can really use Bitcoin's increase to repay national debt, Trump will become a great president.
Perhaps America's fiscal crisis will be alleviated to some extent, but after all, the current fiscal crisis in America is still a crisis, and it might not be possible to use Bitcoin to solve this problem, but can it really work?
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