Trump, Bitcoin, and Solving the U.S. National Debt

Donald Trump once promised to solve the U.S. national debt problem using Bitcoin.

To me, the issue with national debt is that the government borrows more than it can repay. How could Bitcoin solve that?

One idea came to my mind:
1️⃣ Ban the government from borrowing in dollars.
2️⃣ Allow borrowing only in Bitcoin.

How would this help? Easy. People are eager to lend dollars because holding them is costly due to inflation. But few would lend Bitcoin, especially to a borrower known for overspending. This would prevent the government from expanding its debt burden.

Sounds improbable. But I couldn’t think of another way Bitcoin could “solve national debt”.

Interestingly, economist Peter Schiff interpreted Trump’s idea differently. He assumed Trump meant buying Bitcoin now, waiting for its price to rise, and selling it later to pay off the debt.

It’s fascinating how someone who deals with crypto currencies every day, like I do at Rabbit Swap, and someone deeply invested in fiat economics can understand the same words so differently!

I search for complex solutions to address the root problem, wondering how Bitcoin could help. Meanwhile, Peter Schiff thinks Bitcoin’s role is simpler: just make more dollars through speculation.