The U.S. national debt, currently at a staggering $34.77 trillion, has become a major concern for the country. In this context, Donald Trump has consulted with the Bitcoin Magazine CEO, wondering if the leading cryptocurrency can help with it.
With a debt per citizen of $103,259 and a debt per taxpayer of $266,952, the situation is alarming. Moreover, the U.S. National Debt to GDP ratio has skyrocketed from 34.59% in 1980 to 122.27% today. Finbold retrieved this data from usdebtclock.org on May 28.
U.S. National Debt-related data. Source: usdebtclock.org
Interestingly, the Bitcoin Magazine posted on X on May 28, reporting the U.S. Treasury Secretary Janet Yellen’s sayings. Yellen warned that higher Federal Reserve interest rates would make it harder to control the National Debt.
Bitcoin Magazine Donald Trump-related posts series. Source: X / Finbold
As the 2024 presidential election approaches, Bitcoin’s role in shaping the political landscape becomes increasingly evident. With the national debt crisis looming, the question of whether Bitcoin can provide a solution remains open for debate. As the campaign unfolds, the crypto community will undoubtedly be watching closely to see how this issue develops.
