Former President Donald Trump offered more praise for “very, very smart people” in the crypto industry in an interview aired Friday, suggesting that the United States embracing Bitcoin (BTC) could help solve the $35 trillion U.S. national debt.
“Who knows? Maybe we’ll pay back our $35 trillion and give them a little check in cryptocurrency, right?” Trump hinted during an interview with Maria Bartiromo on Fox Business. “We’ll give them a little bit of Bitcoin and wipe out our $35 trillion.”
While his Democratic rival, Vice President Kamala Harris, has yet to make any policy statements regarding her views on cryptocurrencies, one of her campaign’s accounts, under the handle X — which stands for “Rapid Response” Campaign — appeared to take a swipe at Trump’s views by broadcasting his comments.
Much of Trump's comments suggested he was primarily focused on the United States' competitive position with China, though he also criticized President Joe Biden's administration and its stance on encryption.
“Biden is trying to shut it down — Biden doesn’t have the wisdom to shut it down,” Trump said. “Can you imagine this guy telling you to shut down something like this? He has no idea what it is. But if we don’t embrace it, it will be embraced by someone else.”
The former president has received strong support so far from prominent crypto advocates, and there are signs that some in the industry are also considering supporting Harris, even as they are eager to hear her thoughts.
Here is a transcript of Trump’s response to Bartiromo’s question about cryptocurrency:
Donald Trump: “Cryptocurrency is a very interesting thing. Very advanced in some ways, very advanced intellectually. But if we don’t do it, China will. China will do it regardless. But if we don’t do it, China will do it. China is already doing it, and if we don’t do it, other people will do it. So we better get ahead of the curve. And there are some very, very smart people in crypto who love our country and they think it’s good. Who knows? Maybe we’ll pay back our $35 trillion and give them a little cryptocurrency check, right? We’ll give them a little Bitcoin and wipe out our $35 trillion.” …
"It's already significant. It's growing. It's very lightly regulated. That's one of the reasons it's growing. But it's a different form of currency that ultimately benefits the country. But if we're like Biden is trying to Shut it down like that -- can you imagine this guy telling you to shut it down? But if we don't embrace it, it will be embraced by others. You know, it's already a huge thing. You've seen it's bigger than any company in the world, if you look at the market, it's bigger than a lot of countries. If we don't become leaders -- and I know some of those people who are very smart, other countries will embrace it anyway, but we can be leaders. ."We might as well be leaders."
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