$35T US national debt could bolster Bitcoin’s adoption as ‘hard money’
Bitcoin could see a new all-time high due to the looming US federal debt, which surpassed $105,000 for every living person in the country. Go to Source
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Bitcoin could see a new all-time high due to the looming US federal debt, which surpassed $105,000 for every living person in the country. Go to Source
The U.S. national debt has exceeded $35 trillion, highlighting the country’s severe fiscal challenges as debates over taxes and spending continue. The Congressional Budget Office forecasts the debt could surpass $56 trillion by 2034, driven by rising expenditures and interest costs outpacing tax revenues. High interest rates, unexpected pandemic-related program costs, and robust demand for … Read more
At the Bitcoin 2024 conference, Republican U.S. Senator for Wyoming, Cynthia Lummis, introduced the “Bitcoin Strategic Reserve Bill” aimed at establishing a strong bitcoin reserve to mitigate the national debt and strengthen the economy. The bill proposes converting federal assets into bitcoin (BTC), capitalizing on its appreciating value without raising taxes. Bitcoin Reserve Bill Introduced … Read more
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has promised significant bitcoin-related changes if elected. On day one of his presidency, he plans to transfer 200,000 bitcoins to the U.S. Treasury and mandate the government to purchase 550 bitcoins daily until a strategic reserve of 4 million bitcoins is reached. He also pledged to … Read more
The court stipulated that Binance could invest customer funds custodied at BitGo in Treasury Bills maturing along a four-week basis. Go to Source
Economist Peter Schiff cautions against buying U.S. dollars or selling gold, citing rising Treasury yields as a result of the government’s failure to control the national debt and inflation. He notes the widening trade deficits, suggesting an unproductive economy will further weaken the dollar and increase prices. Schiff Warns Against Buying US Dollars Economist and … Read more
Galaxy Digital CEO Mike Novogratz has proposed several measures to prevent a U.S. debt spiral. The executive explained that the U.S. debt crisis makes it “so easy to convince people to buy bitcoin and other hard assets.” He emphasized that implementing these measures could give the U.S. a chance to avoid a “debt death spiral.” … Read more
Cointelegraph analyst and writer Marcel Pechman explains why the downgrading of U.S. government debt will negatively impact the price of Bitcoin over the next few months. Go to Source
In our latest Cointelegraph Report, we analyze the causes leading to the decline of the U.S. dollar as the world reserve currency and its potential implications. Go to Source Powered by WPeMatico
Join us as we discuss the current U.S. debt ceiling crisis and what it means for Bitcoin and the crypto market. Go to Source Powered by WPeMatico