Former U.S. President Donald Trump has injected a dose of humor into the ongoing debate about cryptocurrency and its potential uses. At a recent fundraising event, Trump jokingly suggested that crypto could be used to pay off the country’s massive national debt. When asked about the future of crypto, he responded with a chuckle, stating, “I think it’s a good future. If you look at how far it’s come, I think it has a great future, it really does.” He added, “Maybe we’ll pay off the $35 trillion. I’ll write out a little piece of paper, 35 trillion crypto. We have no debt. Right? That’s what I like.”
Trump’s lighthearted comment comes amidst his growing involvement in the crypto world. Just last week, he announced his latest crypto-related business venture, World Liberty Financial, in collaboration with his sons, Donald Trump Jr. and Eric Trump, along with two lesser-known crypto entrepreneurs. To further demonstrate his acceptance of crypto, Trump even paid for a meal at a New York City bar using Bitcoin.
Meanwhile, Vice President Kamala Harris has also voiced her support for digital assets, adding them to a list of “innovative technologies” such as artificial intelligence that she believes are worth backing. This comes as Polymarket data shows Harris leading the election betting odds by a narrow margin.
Trump’s recent shift toward cryptocurrency is noteworthy, given his previous stance. In July 2019, he criticized unregulated crypto assets like Bitcoin, calling them a facilitator of “unlawful behavior, including drug trade and other illegal activity.” This 180-degree turn suggests a growing acceptance of cryptocurrencies within the political sphere, and further indicates the rapidly evolving landscape of digital assets.
The influence of Bitcoin as an institutional asset class is expected to be a key topic at Benzinga’s upcoming Future of Digital Assets event on November 19. As the crypto world continues to develop, the future of digital assets will be an area of keen interest for policymakers and investors alike.
