The USA plans to pay off debt using Bitcoin

The BITCOIN Act, proposing a radical approach to reducing the US national debt, could be passed as early as the end of 2024. According to the plan, over 5 years the Treasury will purchase 1 million bitcoins. The initiative aims to leverage the potential of cryptocurrency for long-term economic growth.

It is expected that 200,000 BTC digital coins will be purchased annually. If the asset's price increases by 25% per year, by 2050, the value of the acquired bitcoins could cover 44% of the national debt. To implement this plan, $410 billion will be required as of today.

Experts from CryptoRank note that this plan could indeed be realized; according to them, the growth of BTC quotes in recent years demonstrates its potential as a key asset capable of mitigating inflation and enhancing the stability of the financial system. "The introduction of such a law could be the first case of large-scale use of cryptocurrency for settling state debt obligations," say analysts from the company.