The US has never owed more money that it does today, and some believe the solution isn’t political reform or higher taxes but Bitcoin itself.
America’s national debt has crossed $38 trillion, surpassing the country’s annual GDP by nearly 31%.
Notably, the figure also marks one of the fastest periods of debt accumulation in modern history. The Kobeissi Letter pointed out that Washington added over $500 billion in new debts this month, or roughly $23 billion per day.
The firm added that at this pace, “there is a 100% certainty of US bankruptcy with a long enough timeframe.”
This warning rang alarm bells worldwide as it showed how unsustainable the US government’s current fiscal policy was.
However, Bitcoin advocates saw this as proof that fiat money has reached the limits of credibility.
As a result, the idea now circulating through crypto forums and policy debates is as radical as…
