The cryptocurrency plummeted amid global market turmoil after the former president suggested it could be used to pay off U.S. national debt.
Bitcoin prices plummeted after former President Donald Trump suggested that the cryptocurrency could be used to pay off the country’s $35 trillion national debt.
The cryptocurrency market has plunged in recent days amid global uncertainty that has led to investors selling out of risky assets. Monday’s global turmoil across stock markets came amid fears of a possible U.S. recession.
While speaking to Fox Business on Friday, Trump said: „Who knows? Maybe we’ll pay off our $35 trillion, hand them a little crypto check, right?“
„We’ll hand them a little bitcoin and wipe out our $35 trillion“, he said.
Bitcoin dropped 12 percent in the past 24 hours and ether plunged by 21 percent in the same time period.
The price of bitcoin has been dropping since Friday, and briefly dropped to below $50,000 on Monday.
