In a recent press conference at the White House, President Donald Trump discussed the impact of Bitcoin on the US economy and the need to embrace new digital assets.
Positive Impact of Bitcoin on the Economy
President Trump expressed his support for the crypto industry and stated that Bitcoin helps to take "pressure off" the dollar. He noted:
> "It has become amazing. 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."
Triffin's Theory and US Debt
Some experts, such as digital asset researcher Anders X, suggest that Trump's comments hint at the Triffin Dilemma, concerning the conflict of interest in being the issuer of the global reserve currency while maintaining proper trade balances and ensuring long-term currency value. As the issuer of the global reserve currency, the US must run persistent trade deficits to meet global demand for dollars.
Dollar Crisis and Uncertainty
The dollar currency index (DXY) hit its lowest level in three years, signaling deteriorating investor confidence in the creditworthiness of the US government. Macroeconomist and Bitcoin advocate Lyn Alden expressed that nothing will stop the "train" of money printing, jeopardizing the future value of national currencies.
In his statements, Trump emphasizes the ongoing changes in the global economy and the growing significance of Bitcoin. However, critics point to persistent issues with debt and the long-term sustainability of the dollar.
