Renowned billionaire investor Mike Novogratz urges people to buy Bitcoin amid the United States’ surging debt and interest payments. In a recent tweet, the CEO of Galaxy Digital and prominent billionaire investor Mike Novogratz investor and crypto advocate Mike Novogratz issued a...
Renowned billionaire investor Mike Novogratz urges people to buy Bitcoin amid the United States’ surging debt and interest payments .
In a recent tweet, the CEO of Galaxy Digital and prominent billionaire investor Mike Novogratz investor and crypto advocate Mike Novogratz issued a resounding call amid concerns over the surging US interest payments reaching new heights.
Specifically, Novogratz exclaimed, “Buy Bitcoin,” in response to market analyst Joe Consorti’s revelation that the United States’ interest payments have skyrocketed to $970 billion. The analyst said the figure marked an alarming increase of $41 billion during the second quarter.
US Interest Payment to Reach $1 Trillion
Consorti’s accompanying graph titled “US Government Annual Interest Expense” further portrayed a stark picture of the US situation. It showed the rise of interest payments from below $400 billion in 2008 to alarming figures projected to be $1 trillion by 2023.
The market analyst highlighted the implications of the mounting interest burden. He argued that as tax receipts continue to fall behind sovereign debt growth, interest payments will increasingly rely on revenue generated from additional debt issuance—a potentially precarious cycle.