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Can Bitcoin Solve US Debt Crisis? Trump’s Surprising Inquiry

Must Read

Key Factors:

  • David Bailey mentioned Bitcoin as a debt answer with Trump.
  • Bailey’s actions are to help Bitcoin, not endorse Trump.
“Can Bitcoin Remedy US Debt?” was a query requested by Trump, based on David Bailey, CEO of Bitcoin Journal, triggering discussions within the crypto area.

David Bailey, chief govt officer of Bitcoin Journal and a cryptocurrency advisor to the Donald Trump marketing campaign, stirred up curiosity along with his latest disclosure.

Can Bitcoin Remedy US Debt downside?

Throughout a web-based area on X (previously Twitter), he stated Trump had requested whether or not Bitcoin might assist remedy the staggering U.S. nationwide debt, which now stands at a whopping $35 trillion. Bailey stated he advised him he would save that dialog for an additional assembly.

Earlier, Bailey had introduced, in his capability as chief govt officer of Bitcoin Journal, that he and his employees had been working with Trump’s marketing campaign to draft a Bitcoin and cryptocurrency coverage agenda.

Bitcoin Journal CEO’s Initiative to Affect Presidential Coverage

That they had even proposed a complete govt order for Trump to signal on the primary day in workplace. He had additionally introduced his intent to boost $100 million in marketing campaign funds to make sure the subsequent U.S. president would “be into Bitcoin.”

Trip is over, on my means again to America to wage struggle. We have to elevate $100m for Trump. Have already got a number of 7-figure commitments. Lengthy methods to go however it’s a begin. Who can put up $10m+?

— David Bailey🇵🇷 $0.65mm/btc is the ground (@DavidFBailey) Might 15, 2024

Opposite to what many might imagine, Bailey insists his actions should not an endorsement of Trump. In keeping with him, it’s an act of supporting Bitcoin. He feels his initiative is a response to the perceived anti-crypto stance of Joe Biden’s administration and a few Democrats.

Readmore: Solana ETF Approval Is Unlikely, Warns JPMorgan: Report

Normal Chartered Financial institution Optimistic About Potential Regulatory Adjustments

David Bailey

Bailey’s assertion is stuffed with sentiment: “We are going to mobilize to defend ourselves. We’re not voting for Trump per se, we’re voting towards Biden. The one individual in charge for that’s Biden”. In keeping with the Bitcoin Journal CEO, Bitcoin can have a say in who the subsequent U.S. President can be.

Geoff Kendrick, Normal Chartered Financial institution’s head of FX Analysis and Digital Belongings Analysis, shares his optimism. He foresees a extra lenient regulatory setting for the business throughout a second time period of Trump, which he dubs “broadly constructive”.

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