The US government's debt has reached $ 23 trillion, as shown on the website. Debt clock is now displayed.
Thus, the average debt per US citizen is estimated at $ 69,724, and public debt now represents 106.65% of the US gross domestic product (GDP).
Bitcoin lawyer reaches new US sovereign debt high on Nov. 1 sharp and accordingly said that every dollar in the mountain of debt was a good reason to invest in Bitcoin (BTC). Another Twitter user added in this context:
"That's more than $ 1 billion in public debt for 1 bitcoin."
The great fear behind these new records is that even a key currency such as the US dollar has no "real value" and even has a negative value (public debt). In Bitcoin, the crypto-community sees a corresponding alternative because its value is linked to a determined traffic volume.
"Fiat currencies will go out"
The crypto entrepreneur, Max Keizer, who moderates the podcast Keizer Report, recently reiterated the thesis that the expansionary monetary policy of central banks is contributing to Bitcoin's success. The corresponding statements that he had made on November 1 against the Hackernoon technology portal.
For example, the recent quantitative easing by the US Federal Reserve would have a significant impact on the price of bitcoin:
"After the US Federal Reserve announced its" infinite easing, "the price of bitcoin reached $ 3,300 and has since rebounded dramatically (…) All Fiat currencies will die sooner or later."
Cointelegraph recently reported that the cryptographic community warned that the world could tip into a new global economic crisis as the US Federal Reserve was spending billions of dollars in a matter of days in mid-September. This amount is even different from the current market capitalization of Bitcoin, which stands at $ 165 billion.