He does not seem aware its Bitcoin .. but to this point. I'm not sure how this reduces any debt. Unless .. the USGov't sells all their gold and basically sends in tanks to blow the Federal Reserve Banks to smithereens.
The the amount of US dollars can be declared FIXED. Based on the amount of Bitcoin held in reserve. Bitcoin could then be declared LEGAL TENDER ... and that would be it.
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It's just a sly way to debase your currency without having to actively default on the debt. Very similar to the one trillion dollar coin idea except it's Bitcoin and is actual money which is already used by millions.
Devalue dollars, buy Bitcoin, Bitcoin goes up, pay off dollar denominated debts. Their proposal estimated it would be worth 16T in 20 years lmao.