Former President Donald Trump recently proposed using Bitcoin or a “crypto check” to pay off the United States' $35 trillion national debt. In an interview with Fox Business, Trump praised the potential of the crypto industry and emphasised the need for the U.S. to innovate in the digital asset space to remain competitive globally. He suggested that Bitcoin could help settle the national debt due to its supply-capped nature and potential for significant value appreciation over time.This proposal has garnered attention and support from the cryptocurrency community, with advocates highlighting Bitcoin's ability to absorb and transmute U.S. dollar inflation into a new system founded on sound money and blockchain technology. Additionally, Wyoming Senator Cynthia Lummis has introduced a bill to establish a Bitcoin strategic reserve, aiming for the U.S. Treasury to acquire 5% of Bitcoin’s total supply to counteract monetary devaluation and preserve the financial dominance of the U.S. in global markets​.