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Sujit Kumar
Sep 13, 2024
by Sujit Kumar

Bitcoin Strategy: A Possible Solution to the U.S. Debt Crisis?

Bitcoin Strategy
As the 2024 U.S. election nears, the country is grappling with an unprecedented debt crisis. The national debt has soared to $35.3 trillion, raising alarm among financial experts. Tech mogul Elon Musk recently warned that excessive government spending could push the country towards bankruptcy. The U.S. currently pays $1 trillion annually just in interest on its debt, a figure that is set to grow as the government plans to add another $16 trillion by 2035.

Could Bitcoin Be the Answer?

Some experts believe Bitcoin could offer a potential solution. Robert Kiyosaki, author of Rich Dad Poor Dad, argues that saving in Bitcoin may be a better option than relying on the U.S. dollar. Citing El Salvador's success in using Bitcoin to pay off its debt, Kiyosaki suggests the U.S. could adopt a similar strategy. El Salvador has been purchasing Bitcoin daily for nearly two years, currently holding 5,871 BTC worth approximately $342 million.

Senator Lummis Proposes a Bitcoin Reserve

In response to the growing debt crisis, U.S. Senator Cynthia Lummis is planning to introduce legislation to create a national Bitcoin reserve. The proposal calls for the U.S. to acquire 1 million Bitcoins over five years, with the aim of reducing national debt. The plan suggests holding the assets for at least 20 years, allowing Bitcoin’s potential appreciation to help ease the debt burden.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Bitcoin Strategy
Bitcoin Strategy: A Possible Solution to the U.S. Debt Crisis?
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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