Cryptocurrency

United

Bitcoin

Chainlink

James

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 <p class="paragraph">During this week, the US National Debt reached its all-time high value, for an accumulated debt of over $33 trillion, which has made economists question the United States’ abilities to honor their financial obligations to Treasury investors.</p> 
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 <p class="paragraph">Interestingly, the US national debt is now over 33 times higher than cryptocurrencies’ total market capitalization of $1.04 trillion.</p> 
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  <img decoding="async" loading="lazy" src="https://cdn.thebittimes.com/images/2023/09/22/daada5c97b5c86ee6daf20662886b1b9.webp" alt="Crypto total market cap chart." class="wp-image-129474" width="834" height="444" srcset="https://cdn.thebittimes.com/images/2023/09/22/daada5c97b5c86ee6daf20662886b1b9.webp 1024w, https://cdn.thebittimes.com/images/2023/09/22/daada5c97b5c86ee6daf20662886b1b9.webp 300w, https://cdn.thebittimes.com/images/2023/09/22/daada5c97b5c86ee6daf20662886b1b9.webp 768w, https://cdn.thebittimes.com/images/2023/09/22/daada5c97b5c86ee6daf20662886b1b9.webp 1536w, https://cdn.thebittimes.com/images/2023/09/22/daada5c97b5c86ee6daf20662886b1b9.webp 2048w" sizes="(max-width: 834px) 100vw, 834px"> 
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    Crypto total market cap chart. Source: <em>CoinMarketCap</em> 
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 <p class="paragraph">This means that the United States government would need the equivalent of all the money in more than 30 <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>s in order to repay all the investors that somehow are betting on the country’s financial health, effectively lending money to this government through US Treasury bonds.</p> 
 <p class="paragraph">When converted to values in Bitcoin (BTC), the dominant <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency with over 50% of the entire <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> cap, this debt would be equal to 60 <a rel="noopener noreferrer nofollow" title="times" href="https://thebittimes.com/tag/times.html">times</a> the <a rel="noopener noreferrer nofollow" title="total" href="https://thebittimes.com/tag/total.html">total</a> supply of 21 million BTC.</p> 
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       <h3 class="font-bold leading-6 " id="each-taxpayer-would-need-to-pay-10-btc-to-get-even-with-the-us-national-debt"> Each taxpayer would need to pay 10 BTC to get even with the US national debt </h3> 
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        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="chainlink-would-trade-at-this-price-if-link-hits-its-all-time-high-market-cap"> Chainlink would trade at this price if LINK hits its all-time high market cap </h3> 
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       <h3 class="font-bold leading-6 " id="this-small-crypto-trader-made-over-300-000-in-19-days"> This small crypto trader made over $300,000 in 19 days </h3> 
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       <h3 class="font-bold leading-6 " id="8-crypto-exchanges-control-90-of-the-market-s-liquidity"> 8 crypto exchanges control 90% of the market’s liquidity </h3> 
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       <h3 class="font-bold leading-6 " id="bullish-20-billion-inflows-into-crypto-market-cap-in-24-hours"> Bullish? $20 billion inflows into crypto market cap in 24 hours </h3> 
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 <p class="paragraph">Notably, considering a debt of $254,961 per taxpayer in the US, current numbers would mean that each taxpayer would need to pay close to 10 BTC in taxes, so the United States could be able to get even with their debts.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="500" src="https://cdn.thebittimes.com/images/2023/09/22/9e00b5b7be08bc92a14e1845626c7502.webp" alt="US National Debt" class="wp-image-129475" srcset="https://cdn.thebittimes.com/images/2023/09/22/9e00b5b7be08bc92a14e1845626c7502.webp 1024w, https://cdn.thebittimes.com/images/2023/09/22/9e00b5b7be08bc92a14e1845626c7502.webp 300w, https://cdn.thebittimes.com/images/2023/09/22/9e00b5b7be08bc92a14e1845626c7502.webp 768w, https://cdn.thebittimes.com/images/2023/09/22/9e00b5b7be08bc92a14e1845626c7502.webp 1098w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    US National Debt. Source: usdebtclock.org 
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 <h2 class="wp-block-heading" id="h-what-is-the-us-national-debt"><strong>What is the US National Debt?</strong></h2> 
 <p class="paragraph">The US national debt is the amount of money that the federal government owes to its creditors. It is a form of borrowing that the government uses to finance its operations and programs.</p> 
 <p class="paragraph">When investors buy US Treasury bonds, they are essentially lending money to the government. The government agrees to pay back the loan with interest, at a rate determined by the Federal Reserve.</p> 
 <h3 class="wp-block-heading" id="h-is-the-us-treasury-able-to-honor-its-debt-payments">Is the US Treasury able to honor its debt payments?</h3> 
 <p class="paragraph">There is some debate among financial experts about whether the US Treasury will be able to meet its debt obligations in the future. The national debt is currently at an all-time high, and some experts worry that it is becoming unsustainable.</p> 
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    <p lang="en" dir="ltr">If you’ve never heard of a *debt spiral*, it’s time you did,<br><br>and ask the question, "is the US already in one?"<br><br>Let’s dig in and answer that.<br><br>A debt </p>— James Lavish (@jameslavish) August 23, 2022 
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 <p class="paragraph">However, the US government has a long history of paying its debts on time. It is also the world’s largest economy, and it has a number of options for raising money, such as raising taxes or borrowing from foreign governments.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/us-national-debt-is-33-times-higher-than-total-crypto-market-cap-tbt63590.html">https://thebittimes.com/us-national-debt-is-33-times-higher-than-total-crypto-market-cap-tbt63590.html</a></p>

US national debt is 33 times higher than total crypto market cap

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