Jai Siya Ram

Short answer: There is no evidence the U.S. government has a concrete plan to “offload $37T of debt into crypto” or to force the world to pay for U.S. debt. What’s circulating in the press and social media is a mix of (1) real U.S. steps to treat crypto as a strategic asset, (2) public statements and allegations by foreign advisers and commentators, and (3. ) speculation and conspiracy-style takes on what those moves could allow in theory. I’ll separate what’s verified, what’s claimed, and why the dramatic headline is extremely unlikely in practice.

1) What’s actually happened (verified)

• The U.S. federal government has moved toward recognizing and holding crypto as an asset. The White House / administration has issued policy moves and executive actions to position the U.S. as crypto-friendly and to create government crypto reserves. For example, recent White House materials and executive actions create frameworks for a U.S. digital-asset approach and a government crypto reserve.
• U.S. news outlets and crypto press have reported that the government holds seized crypto (from criminal/civil cases) and has considered building out strategic reserves and acquisition strategies — but these holdings are on the order of billions, not trillions.

2) What’s being claimed (but not verified)

• A high-profile foreign adviser (reported in several outlets) has alleged the U.S. might use stablecoins, gold, or other digital-asset mechanisms to “devalue” or transfer parts of its roughly $35–$37 trillion national debt onto crypto-like structures. These claims have been repeated in several commentary pieces and niche outlets. The claim is an allegation about possible future strategy, not an announcement of U.S. policy.
• Crypto-community posts, social media, and some financial blogs have amplified and reinterpreted those allegations into headlines like “US will offload $37T debt into crypto,” which is stronger than the original quoted claims. Social posts and commentary are not proof of government intent.

3) Why the headline “offload $37T debt in crypto & make world pay” is extremely unlikely

1. Scale mismatch: Global crypto market capitalization (even including stablecoins) is small relative to tens of trillions of dollars of U.S. sovereign debt. Converting significant portions of U.S. Treasuries into a cryptocurrency market would swamp prices and destroy credibility — it’s not a viable way to quietly pay or devalue debt. (See the size/context discussions in crypto press and market commentary.)
2. Legal & contractual constraints: U.S. Treasury securities are legal-contract instruments denominated in U.S. dollars and governed by U.S. law. Unilaterally changing the terms of Treasury debt (for example “replacing” dollar bonds with stablecoins) would face huge legal, congressional, and investor-rights hurdles. Changing debt terms at scale would likely require congressional action and would provoke litigation and loss of investor confidence. (Analysts and policy commentary repeatedly emphasize the legal/political barriers.)
3. Creditor reaction & global finance: The holders of U.S. debt include foreign central banks, institutional investors, and pension funds. Any attempt to “force” conversion or devaluation would provoke market turmoil, raise U.S. borrowing costs, and damage the dollar’s reserve status — outcomes policymakers want to avoid. Independent analyses call such a move self-defeating.
4. Macro consequences & IMF/FSI response: A unilateral debt-devaluation scheme tied to crypto would risk destabilizing global financial plumbing. International institutions and major creditor nations would almost certainly resist or take countermeasures. That makes it a politically and economically risky (and therefore improbable) strategy.
5. Technical & credibility limits of stablecoins: Stablecoins rely on reserves and trust in the issuer and its rules. Creating dollar-linked stablecoins at the scale of trillions would require unprecedented collateralization and transparency; otherwise markets would not accept them as substitutes for Treasuries.

4) What could actually happen (plausible, short of the sensational)

• The U.S. could continue to treat crypto as a strategic asset: building government reserves from seized assets, creating clearer rules for issuance and custody, and enabling regulated stablecoins to play larger roles in some payments and private markets. That’s already visible in executive orders and policy moves.
• Tokenization of some financial instruments — in addition to, not replacing, Treasuries — is a possible future (tokenized short-term bills, tokenized commercial paper, private-market uses). Tokenization can improve settlement speed and accessibility, but it does not equate to “dumping the debt on crypto” or making foreign countries pay U.S. creditors’ losses. Experts stress tokenization is incremental and regulatory-heavy.