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History was just made, but not in a good way. The US national debt has surpassed $35 trillion for the first time ever, equating to over $105k for every living person in the country.
This may seem like bad news, but there is a silver lining. The US’ increasing debt could lead to a rise in the adoption of Bitcoin, solidifying it as a safe haven asset.
As the value of the dollar decreases, it takes more dollars to buy Bitcoin, leading to an increase in Bitcoin’s price. This perpetual increase in price serves as its own advertisement, attracting more investors.
While it is preferable to avoid a scenario where Bitcoin’s value is proven through the collapse of the dollar, having Bitcoin as a ‘life raft’ in such a situation provides a sense of security. Unlike fiat currencies, Bitcoin cannot be manipulated and is not subject to the same risks.