US National Debt Exceeds $38.5 Trillion on Bitcoin Genesis Day
- The US national debt surpassed $38.5 trillion, currently at approximately $38,561,900,451,378.
- January 3 marks the anniversary of the Bitcoin Genesis Block mined by Satoshi Nakamoto in 2009.
- Market analyst James Lavish criticized fiat currency practices as contributing to rising national debt.
- The US government added an average of $6 billion per day to the national debt in recent years.
- The Federal Reserve M2 money supply reached $22.4 trillion, indicating ongoing inflationary pressures.
The rising US national debt and increasing M2 money supply highlight concerns over inflation and purchasing power erosion in fiat currencies. Bitcoin advocates argue that its fixed supply cap of 21 million makes it a deflationary asset resistant to such economic issues.
As the US debt climbs past $38 trillion, Bitcoin’s role as a hedge against inflation is emphasized by its community celebrating the Genesis Block’s anniversary.(Source)
