Crypto Currency: A New Way for the U.S.?
Imagine this: the United States, the world’s largest economy, starts collecting digital money, like Bitcoin and Ethereum, instead of just gold and dollars. That’s what President Donald Trump has proposed – a national crypto currency reserve![3]
What’s the Big Idea?
The U.S. has always kept important things, like oil, to help during tough times. Now, some people think we should do the same with digital money. A group will be made to buy these crypto currencies for the government. The goal? To make the U.S. the best place for digital money.[1]
Good Things and Challenges
Why Some People Like the Idea
- It could help protect money from losing value too fast (inflation).[3]
- It might show that the government supports digital money, making more people use it.[3]
- Some people think owning a lot of Bitcoin could make us a lot of money, maybe even enough to pay off some of our national debt![2]
Why Some People Don’t Like the Idea
- Digital money can change value quickly, making it risky to keep.[3]
- We might need new laws to make this happen, and that’s not easy.[3]
- Government digital money could be targeted by hackers.[3]
How Would This Happen?
We don’t know all the details yet. There will be a meeting to talk about how to do this and what rules we need. Some people think we could use money the government already has from catching bad guys using digital money.[3]
What’s Next?
This is a big change, and it won’t be easy. But if we can do it, the U.S. could be the best place for digital money. Other countries might follow, making the world’s money more digital. Only time will tell if this happens![1, 2, 3]
