Can President Donald Trump Erase all of America’s Debts with Crypto Investments?

In lieu of President Donald Trump’s big beautiful bill, there have been several skeptics towards it. The most controversial cut is Medicaid with some GOP members claiming it’s “inescapable.” It seems that even Elon Musk, the President’s former senior advisor, appears to be vehemently against this bill. 

Elon Musk and the big beautiful bill

Elon Musk even made a poll requesting his followers vote on the effectiveness of said bill. Almost 70% of 470,000 people said no, appearing to agree with what the former senior advisor had to say. 

Trump’s faith in cryptocurrency last year

Additionally, when it comes to the nation’s debt, Trump embraced cryptocurrency back in late 2024 during his presidential campaign. After earning millions from crypto-themed NFTs, Trump now supports using bitcoin to help pay down the U.S.’s $35 trillion national debt, suggesting it could offer an alternative as inflation rises. 

One of the reasons why some crypto investors were supportive of him initially was because of Biden’s more hostile stance towards the digital assets. 

The X page, Republican Accountability made several remarks about this idea, and added that he expanded the country’s debt by $4 trillion. It seems the IMF has also shared a warning towards the new bill, as the American government could lose $4 trillion in 10 years. 

Those who support both Trump and cryptocurrency say that the current debt could be fixed if the country’s reserve is poured into a few crypto coins, which would lead to an increase in prices. However, social media users disagree with this idea, as the debt is in US dollars, hence any form of investments may not necessarily help with these debts.