US$39T debt boosts Bitcoin argument
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- US government debt has climbed above US$39 trillion.
- Bitcoin supporters say the rising debt highlights Bitcoin's fixed supply.
- They argue Bitcoin offers protection against currencies that can be created without limit.
The US government's debt has passed US$39 trillion, renewing interest in Bitcoin (CRYPTO:BTC) as a hedge against rising government borrowing.
Bitcoin supporters say governments can continue increasing debt, while Bitcoin's supply will never exceed 21 million coins.
Supporters argue Bitcoin cannot be inflated because its supply is fixed by its code.
The US debt has continued growing as government spending has exceeded tax revenue for many years.
Bitcoin supporters say this difference makes Bitcoin attractive during periods of rising government debt.
The article argues that growing government debt is strengthening Bitcoin's long-term appeal as a store of value.
At the time of reporting, Bitcoin price was $62,758.27.
