Can Bitcoin Really Pay Off America’s Debt? The Reality Check

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The crypto bros. Yeah, they’re all excited. They’re rehashing a Michael sailor quote. I think he was at CPAC. I was at CPAC at the time. At the time I didn’t, you know, I heard about it. I didn’t even bear it any mind. Didn’t talk about it here on the program, but Michael sailor from micro strategy, Mr. Bit.

Bitcoin, Mr. Crypto said that the United States, if we were smart, we’re smart. We just start purchasing tons and tons of Bitcoin because Bitcoin could pay off the national debt. We’re almost 39 trillion at this point in time.

And he says that the United States could unlock some 80 trillion dollars in value In value by buying Bitcoin You know people use words all the time and you know I’m gonna sub reference again my old friend and ego Montoya from Princess Bride. You keep using that word. I don’t think it means What you think it means?

Michael Salem predicts US Bitcoin payoff national debt. Okay, all you crypto bros out there, and I love it when you get angry with me. yes, yes, because the responses you give me are so intelligent, based on all sorts of facts and reality. Anyway, neither here nor there, United States buys Bitcoin. Buys Bitcoin, we assume a position.

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and Bitcoin, let’s say Bitcoin goes up, which I said it might. I said it might, and people were paying an ungodly sum of money, ungodly sum of money back in the 1990s for Beanie Babies. That’s right, Beanie Babies. There was actually, there was books out, the Beanie Baby investment book. Okay, I’ve seen people do a lot of dumb things with their money. But again, Michael Saylor’s gonna unlock value, value.

Anyway, let’s say it goes up and let’s just say the United States grabs up $50 trillion in Bitcoin and what it’s worth. We still have, still have about that to say maybe $40 trillion in debt at that point in time. We’ll just throw that number out there. Now what?

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Now, are you gonna just pay off?

Pay all you got to tell everybody, hey, we’re not going to pay you back in dollars. We’re going to pay you back in Bitcoin. You think they’re going to take it?

You know, again, I want to remind everybody, I want to remind everybody, okay, you got to pay back that money in dollars, not Bitcoin. So let’s just say, let’s just say we wanted to pay them, we got to pay it back in dollars, which means what? We have to take the $50 trillion in Bitcoin, we’ll say $40 trillion, and turn that $40 trillion in Bitcoin into dollars. What do you think is going to happen then?

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Holy, you think that there’s gonna be a buyer out there? yeah, sure, I got $40 billion, a trillion dollars lying around, $40 trillion, I sure no problem. I’ll buy your $40 trillion in Bitcoin, do you understand?

How ridiculous that is. I’m gonna sub-reference again, just the sheer stupidity of that argument. I’m gonna go to Billy Madison, Adam Sandler. Billy was answering a question in regards to the Industrial Revolution and his answer was so stupid. Can you listen to Michael Saylor and some of the interviews that he gives out there? And it’s like, wow, what’d he say? Well, anyway, in the debate.

The debate moderator said, Mr. Madison, I’m gonna say Mr. Sailor, what you’ve said is one of the most insanely idiotic things I’ve ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. I award you no points and may God have mercy on your soul. Watchdogonwallstreet.com.