The US national debt has surpassed $37 trillion, marking a significant escalation from $18 trillion just a decade ago. In parallel, Bitcoin’s value has surged from under $500 to over $100,000 in the same time frame, highlighting its store of value potential.
As the pressure of this soaring debt continues to mount, cryptocurrency advocates are renewing their call for Bitcoin as a potential solution. While the advocacy for Bitcoin isn’t something new, what’s particularly intriguing now is the emerging idea that stablecoins could help reduce national debt.
Analysts Turn to Bitcoin as Economic Protection Amid Rising US Debt
According to the latest data from the US Debt Clock, each US citizen now carries a debt burden of $107,982. In addition, the liability per taxpayer is $323,051.
The federal spending amounts to approximately $7.1 trillion, while the federal budget deficit is $2 trillion.Â
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