United States’ National Debt Jumps To $22 Trillion: Why Bitcoin Still Matters

Today’s cryptocurrency news show that Bitcoin may come right in time as an alternative during a record moment in United States’ history. According to data from the official Twitter profile related to the national debt of the US, the total national debt has surpassed $22 trillion for the first time ever.

This mountain of debt is another terrifying reminder of how fragile the fiat monetary system is. What’s interesting is that you can watch how the debt piles up in real time by visiting the site named the US debt clock.

$22,012,840,891,685.32 (+) #NationalDebt

— National Debt Tweets (@NationalDebt) February 12, 2019

In times like these, many people should be aware that Bitcoin matters, especially with its fixed supply and anti-inflationary policy. As such, BTC is an antidote in waiting which could be used in desperate times like these.

Jumping more than $30 billion in the last month alone, the national debt has been surging by more than $1 trillion in the last year alone. Ever since President Trump introduced his $1.5 billion tax cut plan last year, the debt has spiraled.

When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can't possibly ever pay it back, and thus must print it instead, and thus fiat is doomed… watch what happens to crypto.

— Erik Voorhees (@ErikVoorhees) November 8, 2018

As we can see from the ShapeShift CEO Erik Voorhees and his tweet above, Bitcoin is the alternative monetary system and the antithesis of fiat money like the dollar. Unlike fiat, BTC has a fixed supply so that central banks can’t endlessly print more of it. Plus, its monetary policy is not controlled or manipulated by any entity.

For now, the debt continues to build which is “another sad reminder of the inexcusable tab that the nation’s leaders have continued to run up” according to Judd Gregg and Edward Rendell of the Campaign to Fix the Debt.