Recent news reports that the total national debt of the United States has exceeded 37,000 billion USD, creating a wave of concerns about the role of the USD as a global reserve currency. This volatility potentially risks reducing the international community's confidence in the USD's ability to maintain value in the international financial market.
Brian Armstrong, CEO of Coinbase, warned that if the United States does not effectively control the growth rate of public debt, Bitcoin could potentially replace USD to become a new global reserve asset. This change could lead to a domino effect in the traditional currency market.
The Winklevoss twins, founders of the Gemini exchange, also agree with this view. They emphasized that the rapid growth chart of US public debt is clear evidence of the need to diversify asset storage, and "buying Bitcoin" is seen as a strategy to prevent macroeconomic instability.
Armstrong stressed the essential role of a strong United States with sustainable fiscal balance, while praising Bitcoin as the "digital gold" of the new era. He calls on policymakers to implement financial reforms to strengthen market confidence in the US monetary system.
The the "X date" - for reaching the public debt ceiling is is expected to fall between late August and mid-October. If Congress does not pass the debt ceiling increase in time, the a timthe Government may face the risk of large-scale spending cuts and payment delays, negatively impacting the macroeconomic economy and cryptocurrency market.
