People can now use PayPal and Venmo to voluntarily pay off US national debt through the government’s Pay.gov website. This change comes as a bill proposing a Strategic Bitcoin Reserve to address the same financial issue is currently stalled in Congress.
Monthly donations average around $120,000, but this is very small compared to the overall debt of $39 trillion. The $88 billion paid in interest each month is much larger than the amount of money received through donations.
A 64-Year-Old Program Meets Viral Attention
The “Gifts to Reduce the Public Debt” program has been running since 1961, as authorized by law (31 U.S.C. § 3113). Since 1996, people have donated around $67 million through the program, with approximately $30,000 received in February 2026.
With the national debt increasing, Senator Rand Paul has proposed a plan to cut federal spending. His ‘Six Penny Plan’ aims to reduce spending by six cents for every dollar the government spends over the next five years.
I proposed the Six Penny Plan because solving our debt problem is simple: reduce spending by six cents for every dollar. This would balance the budget within five years and secure a better future for our children. The only obstacle is Washington’s unwillingness to spend responsibly, he explained.
Strategic Bitcoin Reserve as the alternative
As an analyst, I’ve been following the debate around how to increase Bitcoin adoption, and it’s interesting to see the different approaches being discussed. Some proponents are focusing on charitable giving, while others are pushing for governments to directly invest in Bitcoin. For example, Senator Cynthia Lummis recently proposed the BITCOIN Act of 2025, which would require the U.S. to purchase one million Bitcoin over the next five years.
VanEck, an investment firm, estimates that if the US held Bitcoin as a strategic reserve, it could reduce the national debt by 36% by the year 2050.
If the world’s $900 trillion in financial assets continue to grow at a rate of 7% per year from 2025 to 2049, Bitcoin could make up 18% of that total, according to the firm.
The proposed legislation is currently stalled in committee. Senator Lummis stated in December 2025 that she will not run for reelection.
President Trump issued an executive order to establish the reserve using money that had been seized. However, the deadlines for making it fully operational have passed, and Congress hasn’t provided any additional funding to acquire more assets.
The companion Mined in America Act seeks to codify that framework.
Taxpayers currently have two options, but they’re very different. They can choose to donate digitally, or they can wait for lawmakers to approve a plan to create a set amount of reserved funds – a plan that’s currently stuck in debate.
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2026-04-26 22:06