‘Doge In The Treasury’—Mark Cuban Teases Wild Donald Trump And Elon Musk Plan To Pay Off $35 Trillion Of U.S. Debt With Bitcoin And Crypto Amid Price Boom

   Share to Facebook Share to Twitter Share to Linkedin Bitcoin Bitcoin and crypto traders have been told to "expect fireworks" this month as BlackRock's chief executive issues a "crazy" Federal Reserve warning. The bitcoin price has roared back after plummeting below $60,000 per bitcoin this week as former U.S. president Donald Trump's China nightmare suddenly seems to be coming true. Now, after Tesla billionaire Elon Musk warns the U.S. could collapse into "bankruptcy" due to its debt spiraling out of control, billionaire investor Mark Cuban has teased a plan floated by Donald Trump to pay off U.S. national debt with bitcoin or crypto—and the Doge Department of Government Efficiency proposed by Elon Musk. Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run Forbes‘Expect Fireworks’—BlackRock CEO Issues ‘Crazy’ Fed Warning As A China ‘Tsunami’ Is Predicted To Hit Crypto And The Bitcoin PriceBy Billy Bambrough MORE FOR YOU Today’s NYT Mini Crossword Clues And Answers For Saturday, October 5th Alex Pereira Calls Out His Easiest Potential World Champion Opponent UFC Cuts Contender Series Winner After 2 Failed Drug Tests Dallas Mavericks minority owner Mark Cuban has teased a plan floated by Donald Trump to pay off U.S. ... [+] national debt with bitcoin or crypto—and the Doge Department of Government Efficiency proposed by Elon Musk. Getty Images "We don't know what Elon would actually do," Cuban said during an appearance on the All-In Podcast alongside fellow investors David Friedberg, Chamath Palihapitiya, Jason Calacanis and David Sacks, responding to a question about how the U.S. could begin to tackle its huge debt pile that's rocketed to over $35 trillion this year. "Maybe [he'll] put doge in the the Treasury, who knows and that's how we make it all up," Cuban joked, referring to Elon Musk's on-again-off-again relationship with the meme-based bitcoin rival dogecoin. In July, Cuban called the growing support among Silicon Valley founders, investors and executives for Republican 2024 White House hopeful Donald Trump a "bitcoin play," predicting a bitcoin price boom if Trump wins next month's election. Cuban, who's an outspoken Democrat, supporter of U.S. president Joe Biden and famously said in 2018 he'd rather have bananas than bitcoin, became a bitcoin and crypto convert through the Covid pandemic and has warned that Trump could win the 2024 election due to president Joe Biden's opposition to crypto. Earlier this year, Trump floated the possibility of using bitcoin to pay off the U.S.'s $35 trillion debt pile. "Crypto is a very interesting thing," Trump told Fox Business in August. "Maybe we'll pay off our $35 trillion dollars, hand them a little crypto check, right? We'll hand them a little bitcoin and wipe out our $35 trillion." Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious ForbesDonald Trump’s ‘Crucial’ China Nightmare Is Suddenly Coming TrueBy Billy Bambrough The bitcoin price has topped its previous all-time high this year, with Donald Trump, Elon Musk and ... [+] Mark Cuban all helping to push the bitcoin price higher. Forbes Digital Assets Earlier, during an appearance at the Bitcoin 2024 conference, Trump promised to create a "strategic national bitcoin reserve" and predicted bitcoin could eclipse gold's $16 trillion market capitalization. Speaking in September at the Economic Club of New York, Trump proposed creating a government efficiency commission and said Elon Musk had agreed to "head that task force"—with Musk branding it the Department of Government Efficiency, or Doge. Both Musk and Cuban have helped dogecoin—a tongue-in-cheek fork of bitcoin—become one of the world's largest cryptocurrencies over the last few years. The dogecoin price rocketed along with bitcoin and the wider crypto market in 2021 before crashing back but holding on to far more of its value than most of its critics predicted. Follow me on Twitter. Billy Bambrough Following Editorial Standards Forbes Accolades