Trump touts cryptocurrency as potential solution to US debt, shares Harris campaign comments

Former President Donald Trump recently praised the cryptocurrency industry in an interview and suggested that Bitcoin could help solve the U.S. national debt. The Kamala Harris campaign shared Trump’s comments without offering its own policy position on cryptocurrencies.

In an interview with Fox Business, Trump praised the “very, very smart people” in the cryptocurrency industry and suggested that embracing Bitcoin could help solve the nation’s $35 trillion national debt. He suggested that the government could theoretically “give them some Bitcoin and wipe out $35 trillion.”

The former president stressed the importance of the United States maintaining a competitive position with China in the cryptocurrency sector. “If we don’t do it, China will. China will do it anyway,” Trump said, adding that if the United States does not take the lead, other countries will follow. The remarks followed a speech Trump gave at Bitcoin 2024 in Nashville, where he confirmed plans for a “strategic national reserve” in the form of a Bitcoin reserve.

Trump also criticized the Biden administration’s approach to regulating cryptocurrencies, claiming the president “doesn’t have the brains to shut them down” and “has no idea what the hell they are.” He claimed that if the U.S. doesn’t embrace cryptocurrencies, “someone else will.”

Vice President Kamala Harris has yet to take a clear policy stance on cryptocurrencies, but her campaign’s rapid response account, X, shared Trump’s comments without further commentary.

The crypto industry’s response to the candidates remains mixed. While Trump has garnered significant support from prominent crypto advocates, some in the sector are considering supporting Harris, but they are waiting to hear her stance on crypto-related issues.

President Trump’s comments about cryptocurrencies as a potential solution to the U.S. debt show the growing importance of digital asset policies in the presidential election. The issue is becoming increasingly hotly contested, and the response from the Harris campaign shows that the issue is important to voters.