US Debt Skyrockets, Surpassing Bitcoin's Market Cap in Just 24 Hours!

[ad_1] US National Debt Increases by $275 Billion in a Single Day, Surpassing Bitcoin's Market Cap Amid a global financial crisis and the growing national debt of the United States, the US Department of Treasury has recently increased the country's debt by an amount that exceeds more than half of Bitcoin's entire market capitalization in just one day. The US national debt reached a record-high of $33.442 trillion, growing by $275 billion in a single day. In comparison, the total market cap of Bitcoin stood at $536.69 billion at the time, according to observations shared by Samson Mow, the CEO of Pixematic and JAN3, on October 4. Samson Mow, who is also the strategist behind El Salvador's Bitcoin bonds project, pointed out that the US debt amount is equivalent to approximately 10 million BTC. He expressed surprise that there are still people uncertain about whether $27k is a good price to buy Bitcoin, considering the massive debt. In terms of Bitcoin's price analysis, the cryptocurrency was trading at $27,557 at the time of publication. It recorded a slight decline of 0.11% on the day but still showed a 5% gain over the previous week and a 6.1% increase on its monthly chart. Although Bitcoin's current price is significantly higher than its early days, it remains much lower than its all-time high of $69,000 in November 2021. This has led many crypto traders and investors to believe that now is a good time to purchase Bitcoin. Renowned author Robert Kiyosaki, known for his best-selling personal finance book "Rich Dad Poor Dad," has recently expressed his view that Bitcoin is still a relatively cheap investment for the time being. However, he believes that as more people realize its advantages and rush to acquire it, the price will inevitably increase. It is important to note that the content of this news article should not be considered investment advice, as investing in cryptocurrencies carries speculative risks and capital is at risk. [ad_2] https://market-news24.com/crypto/us-debt-skyrockets-surpassing-bitcoins-market-cap-in-just-24-hours/?feed_id=71328&_unique_id=651dad61a519e

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