The US Treasury Department reported a staggering $40.049 trillion in public debt on August 19, more than doubling from $19.95 trillion when Trump first entered office in 2017. The debt has been fueled by pandemic spending, social security and medicare, and chronic federal deficits. However, with interest rates rising, the cost of borrowing has become increasingly difficult to hide. This has led some to turn to bitcoin as a scarce, non-sovereign alternative to traditional currencies. Trump's comments on accumulating bitcoin have added fuel to the fire, with some seeing it as a way to hedge against inflation and monetary debasement. The real test will be whether Trump's rhetoric becomes policy, and whether the US will take concrete steps to add bitcoin to its reserves.
Bitcoin
