Bitcoin’s Surge Makes Debt Look Smaller!

Author: Mustafa Mulla

Mustafa Mulla

Author

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 11, 2024 17:25

The US national debt has skyrocketed to $35.3 trillion as of September 10, 2024, marking a $1.36 trillion increase this year. Surprisingly, when compared to Bitcoin, this huge debt appears smaller. According to Sani from Timechain Index, the debt now equals 644 million BTC, down from 761 million BTC at the start of the year. Despite the rising dollar debt, Bitcoin’s price appreciation has reduced its BTC equivalent. As Bitcoin’s value climbs, reaching $56,800 recently, its role as a store of value against traditional fiat currencies becomes increasingly evident.