Trump's Gold-For-Bitcoin Shock Plan Targets $38 Trillion Debt and $242K BTC

Benzinga

Sen. Cynthia Lummis said the Trump administration is considering converting part of U.S. gold reserves into Bitcoin to form a digital reserve. Backers claim it could halve debt in 20 years, though critics warn of global market disruption.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Senator Cynthia Lummis said the Trump administration is weighing a plan to convert part of the nation's

00:07gold reserves into Bitcoin to create a strategic digital reserve, according to Benzinga.

00:13The U.S. national debt has surpassed $38 trillion, with interest payments projected to hit $14 trillion

00:19in the next decade. Lummis said selling or revaluing gold certificates to buy Bitcoin

00:25could cut debt in half over 20 years. The proposal, supported by Michael Saylor and

00:31Arthur Laffer, suggests buying 1 million Bitcoin, or 5% of global supply, could yield outsized

00:37returns compared to stagnant gold holdings. Critics warn such a move could destabilize

00:43gold markets and global confidence in U.S. debt. White House spokesman Kush Desai said Trump

00:49reduced deficits by $350 billion this year, but stressed the need for deeper structural

00:54reforms to manage long-term debt. For all things money, visit Benzinga.com.

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