- Crypto has thrust itself into the political arena.
- There are no easy answers to the spiraling US national debt.
- Donald Trump teased a crypto plan to wipe out the national debt.
With US government overspending having hit $1 trillion every 100 days, it feels like there’s no end in sight. As the national debt hits $35 trillion and keeps rising, both economists and voters are left wondering if anything can reverse this runaway train of spending.
Sponsored
Enter Donald Trump, offering up a debt solution that’s got everyone talking. In a recent campaign meeting, the former president playfully suggested using cryptocurrency to wipe out the entire national debt.
Trump Has the Answer, Sort Of
As the November election approaches, both Trump and Harris have been hard at work courting the crypto electorate. But Trump has offered a bold and surprising solution to the national debt crisis.
In a move that would make even the boldest Wall Street traders pause, Trump suggested that writing “thirty-five trillion crypto” on paper could magically erase the national debt.
Upon doing so, the presidential hopeful confidently proclaimed, ‘We have no debt,’ as if he had just unlocked a cheat code for the US economy. Ironically, Trump’s paper-and-pen approach to fiscal policy isn’t too different from how the debt ballooned in the first place.
Even so, Trump’s response was well-received by the audience, who seemingly have already decided to vote for him over Harris.
Democrats Want In
Not to be outdone in the crypto charm offensive, Kamala Harris has been making crypto-friendly moves of her own. At a recent Wall Street fundraiser, she reportedly expressed support for AI and digital assets, signaling that the Democrats aren’t ready to let Trump monopolize the crypto conversation.
While Harris has kept her crypto cards close to her chest in public, more is reportedly happening behind the scenes. Anthony Scaramucci, founder of Skybridge Capital, claimed he’s collaborating with Harris on a crypto policy framework.
Scaramucci is among several industry figures backing the Democrats through the “Crypto for Harris” advocacy group, which aims to support her election campaign and promote fundraising efforts.
On the Flipside
- Many believe crypto is a bipartisan issue that transcends party politics.
- Trump has been proactive in supporting BTC and crypto, including the recent Bitcoin for Burgers event.
- Politicians have a reputation for backtracking once elected.
Why This Matters
While Trump’s outlandish crypto solution may seem far-fetched, it further highlights that digital assets are no longer a fringe topic.
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