U.S. Financial Crisis Deepens: Can Trump’s Bitcoin Strategy Steer Clear of Bankruptcy?
by aria-crypto.com
November 23, 2024 at 08:27
U.S. Financial Crisis Deepens: Can Trump’s Bitcoin Strategy Steer Clear of Bankruptcy?
According to the latest D.O.G.E report, the U.S. government’s deficit has significantly widened, with fiscal year 2023 showing $6.16 trillion in expenses against just $4.47 trillion in revenue. This alarming financial situation has not occurred since 2001, prompting intensified discussions on sustainable economic policies. Elon Musk, in a recent social media post, starkly warned that the U.S. is “headed for bankruptcy super fast," emphasizing the urgent need for financial restructuring. Meanwhile, the Wall Street Apes suggested a legislative approach to hold Congress accountable by preventing members from seeking re-election if the deficit surpasses 3% of GDP, a move supported by Warren Buffet to enforce fiscal responsibility. In an unorthodox move, Donald Trump has proposed the creation of a “strategic national Bitcoin reserve” to tackle the $35 trillion national debt. However, skepticism arises as the current valuation of U.S. Bitcoin holdings is far below what would be required, depicting this plan as impractical amidst fears of market disruption and economic instability.
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