US National Debt Surges Past $38.5T on Bitcoin Genesis Block Day
The US national debt surpassed $38.5 trillion on the anniversary of the Bitcoin Genesis Block mining.Summary
The United States National Debt exceeded $38.5 trillion on a Saturday, coinciding with Bitcoiners celebrating "Genesis Day," marking the anniversary of Satoshi Nakamoto mining the first Bitcoin block on January 3, 2009. Market analysts criticized the rising debt as symptomatic of fiat currency debasement. The Genesis Block famously contained a headline referencing the UK government's bank bailout, which Bitcoin proponents cite as proof of the protocol's core value: inflation-resistant, decentralized money with a 21 million supply cap. The US debt is escalating rapidly, adding billions daily, contrasting sharply with the two centuries it took to reach the first trillion, while the Federal Reserve's M2 money supply continues to climb, eroding the dollar's purchasing power.
(Source：Cointelegraph)