Bitcoin

Billion

<p>A recent <a href="https://twitter.com/Excellion/status/1709383373205205446" target="_blank" rel="noopener noreferrer nofollow">tweet</a> emphasizing ballooning US debt compared to Bitcoin’s market capitalization has reignited debate on the cryptocurrency’s merits as an inflation hedge. Prominent Bitcoin advocate Samson Mow highlighted that American debt expanded in one day by over half of Bitcoin’s entire market cap.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="628" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-1024x628.png" alt="" class="wp-image-348609" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-1024x628.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-300x184.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-766x470.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-1536x942.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-2048x1256.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-245x150.png 245w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-571x350.png 571w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-80-788x483.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-80.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Mow cited data showing the US added debt equating to approximately 10 million BTC on a single day recently. Meanwhile, he noted some investors still question whether Bitcoin’s price near $27,000 makes for a good entry point.</p>
<p>The staggering debt levels juxtaposed with Bitcoin’s tightly controlled supply seemed to imply that the cryptocurrency looks undervalued by comparison. Mow’s perspective aligns with the view of Bitcoin as “digital gold,” protecting value as fiat money inflates.</p>
<p>However, skeptics argue that comparing America’s ability to service debt obligations with Bitcoin’s speculative valuation remains an oversimplification. The complexities and risks underlying both make the parallel dubious for some.</p>
<p>Bitcoin’s extreme volatility since inception also undermines its reliability as a stable store of value thus far. Detractors consider its flawed valuation models and lack of clear cash flows as failing key value benchmarks.</p>
<p>Of course, proponents believe Bitcoin’s transparent, capped supply and decentralization offer superior inflation resistance compared to dollars or gold in the long term. But skeptics question whether it has sufficiently proven durability to warrant premium valuations.</p>
<p>The tweet ultimately aimed to underscore Bitcoin’s scarcity against boundless fiat expansion in hopes of persuading hesitant adopters. But the divisive topic demonstrates the cryptocurrency’s polarizing nature even after over a decade.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/us-debt-surges-by-275-billion-in-24-hours-analyst-makes-comparison-to-bitcoins-market-cap/">US Debt Surges by $275 Billion in 24 Hours: Analyst Makes Comparison to Bitcoin’s Market Cap</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

US Debt Surges by $275 Billion in 24 Hours: Analyst Makes Comparison to Bitcoin’s Market Cap

Table of Contents

CaptainAltcoin

Other articles published on Oct 4, 2023

Alameda Research lost over $500,000 per day for a month after its launch

El Salvador’s Volcano Energy Launches First Local Bitcoin Mining Pool

Vitalik Buterin Shares His Vision for the Future of Ethereum

How Do Gold-Backed Cryptocurrencies Serve As Safeguard Against Inflation?

ETH Could Retest $1,580 Support If Sell-Off Fears Persist

Cicada Secures $9.7m in Pre-Seed Capital Commitments

Join our free newsletter for daily crypto updates!