#USNationalDebt

The Provisions of Donald Trump

President Trump has already indicated his willingness to sign the bill into law. He also believes that the legislation can strengthen the country's position as a leader in digital assets:

"Digital assets are the future, and our nation is going to lead it. We are talking about massive investment and significant innovation. The House, hopefully, will move quickly and pass a 'clean' GENIUS Act. Bring it to my desk as soon as possible, without delays, without add-ons. This is American brilliance at its finest, and we are going to show the world how to win with digital assets like never before!" he wrote.

However, not everyone believes in the value proposition of dollar-backed stablecoins. Economist Peter Schiff recently expressed his criticism in a social media post:

"I understand Bitcoin, but not dollar-backed stablecoins. If you are going to introduce a third-party custodian, why settle for a token backed by a flawed fiat currency like the dollar when you can own one backed by gold? You get the same liquidity, but you also get a true store of value," he commented.

Therefore, with the national debt of the United States on the rise, there is a growing urgency to explore different fiscal options. While Bitcoin is widely recognized as a hedge, the role of stablecoins remains debatable. Ultimately, only time will reveal whether these dollar-backed assets can contribute to debt reduction or not.