Donald Trump Consults Bitcoin Expert on Crypto Solution for $35 Trillion US Debt

Trump Explores Using Bitcoin to Address Mounting US Debt Woes

Donald Trump, the former president and leading Republican presidential candidate, appears to be weighing whether Bitcoin could play a role in addressing the United States' ballooning debt crisis.

During a Twitter Space last Sunday, David Bailey, CEO of Bitcoin Magazine, disclosed that Trump had asked him if Bitcoin could be leveraged to help solve the US government's debt problems. Bailey serves as a cryptocurrency advisor to the Trump campaign.

Bailey said he had some ideas in response to Trump's inquiry but wasn't prepared to discuss the topic in-depth during their initial meeting.

On May 13th, Bailey announced he was collaborating with Trump's election campaign to develop a crypto-friendly agenda and was directly involved in formulating a strategic vision for Bitcoin and other cryptocurrencies should Trump win the presidency.

"Over the past month, we've been working with the Trump camp to develop policy positions around Bitcoin and cryptocurrencies," Bailey stated. "We've presented a full presidential directive for President Trump to sign on day one of his administration. This directive would establish a favorable regulatory framework for cryptocurrencies and reflect the campaign's strategic approach to crypto assets."

Moreover, Bailey revealed plans to raise "a $100 million war chest" to fund the campaign and ensure the next president champions Bitcoin.

At a "Trump Cards NFT Gala" event on May 9th, Trump declared, "We have to accept the technology of cryptocurrency to keep crypto companies and entrepreneurs in America. If you're pro-crypto, you might as well vote for me."

While concrete proposals on using Bitcoin to tackle the massive debt load remain unclear, the fact that a leading candidate is seriously exploring the idea is garnering attention and will likely spur further discussions.