President Donald Trump has praised Bitcoin for contributing positively to the U.S. economy, suggesting the cryptocurrency is alleviating some pressure on the dollar.
In a White House press conference on Friday, Trump made bold claims about the role of Bitcoin in global economics and American fiscal resilience.
Trump Sees Bitcoin as Economic Relief Valve
Trump expressed a strong stance in favor of the cryptocurrency industry, noting its rapid growth and growing relevance in global economic competition.
“It has become amazing,” he said.
“I mean, it is the jobs that it produces, and I notice more and more you pay in Bitcoin. People are saying it takes a lot of pressure off the dollar, and it is a great thing for our country.”
His remarks reflect a broader shift in political rhetoric surrounding digital assets, with increasing acknowledgment of crypto’s strategic and economic significance.
Digital asset researcher Anders X interpreted Trump’s statement as an indirect reference to the Triffin Dilemma — the conflict faced by countries issuing global reserve currencies.
Such nations must run persistent trade deficits to satisfy global demand, undermining long-term currency stability.
Structural Deficits and the Risk to Dollar Value
As the issuer of the world’s reserve currency, the U.S. continues to face pressure to maintain global liquidity.
This often leads to persistent trade imbalances, financed by expanding the money supply.
While this temporarily supports global markets, it eventually weakens the dollar’s value, as more currency is printed to fund fiscal gaps.
This process dilutes each dollar’s purchasing power.
Data from TradingView shows that the M2 money supply — a key measure of U.S. dollars in circulation — has steadily increased, reinforcing inflationary concerns.
Trump has previously floated the idea of paying off the national debt using Bitcoin, though critics argue this is unrealistic.
Even if the U.S. government owned the entire circulating Bitcoin supply, it would barely make a dent in the $37 trillion national debt.
Debt Concerns Continue to Mount
Macroeconomic analyst and Bitcoin advocate Lyn Alden has coined the phrase “nothing stops this train” to describe the relentless expansion of sovereign debt across global economies.
Her view underscores a growing consensus that governments will continue printing money indefinitely, eroding fiat currency values over time.
Evidence of weakening dollar confidence is also visible in financial markets.
The Dollar Currency Index (DXY), which tracks the dollar’s value against other leading currencies, recently hit a three-year low.
This decline, paired with rising bond yields, suggests investors are increasingly skeptical of U.S. fiscal sustainability.
Crypto Gaining Political and Economic Ground
Trump’s vocal support for Bitcoin signals a growing convergence between crypto and mainstream economic policy.
While the idea of settling sovereign debt with Bitcoin remains controversial, his remarks underscore Bitcoin’s rising profile in global financial discourse.
With mounting deficits, continued money printing, and weakening confidence in fiat systems, digital assets like Bitcoin may increasingly be viewed as hedges against traditional financial risks.
As Trump put it, Bitcoin might just be “a great thing for our country.”