[{"category":{"name":"Trending News","exported_url":"trending-news"},"id":"00a3863f-4bc2-4e68-9602-d19ceeb4cd61","updated_at":"2024-05-29T06:57:39.118+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"Donald Trump consulted crypto expert David Bailey regarding Bitcoin’s potential to tackle the US’s $35 trillion debt. ","sapo":"The former US President was reported meeting with CEO of the highly acclaimed Bitcoin Magazine David Bailey to inquire about using Bitcoin to address the US’ colossal $35 trillion federal debt. ","title":"Trump Looks Into Bitcoin to Tackle America’s Trillion-Dollar Debt","content":"

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Trump Seeks Advice on Bitcoin Regulations

Donald Trump recently made his support for cryptocurrencies more clear by meeting with Bitcoin Magazine CEO David Bailey, inquiring about Bitcoin’s potential role to address the ongoing US debt crisis.

Bailey, who now joins Trump’s campaign as a cryptocurrency aide, disclosed details of his first time meeting with Trump during an X session last Sunday night, in which the ex-president asked him whether Bitcoin could be leveraged to help with the $35 trillion national debt. Bailey had some ideas but was not ready to go in depth.

Bailey’s team has since been working closely with Trump’s to develop a crypto-friendly policy agenda, revealing the campaign’s intention of raising “a $100 million war chest” and seeking assistance from fellow crypto enthusiasts “to ensure the next President of the United States is pro-Bitcoin”.

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Trump’s vocal support for Bitcoin and promises of pro-crypto policy changes have earned him increasing support from the crypto communities, with many siding with the Republican candidate in the upcoming presidential election.

According to statistics from the popular blockchain-based prediction platform Polymarket, Trump is currently leading with 56% of total bets as potential winner in the next election, a significant margin ahead of the current POTUS Joe Biden's 37%

polymarket presidential election winner prediction Polymarket’s user predictions of US presidential election winner. (Source: Polymarket)

The U.S. federal debt is at a record high, exceeding $34.6 trillion as of April 2024. The debt is held by both domestic and foreign investors, including governments and private entities.

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Trump Looks Into Bitcoin to Tackle America’s Trillion-Dollar Debt

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