After Donald #Trump and Cynthia Lummis, River, a BTC exchange, has revealed that a Bitcoin reserve could tackle the US National Debt.
The United States of America is among the most developed countries in the world, with huge troops and resources. It has been the topic of discussion for its vast growth, multi-culture, and advanced technology. But now, as the presidential election is near, the attention is on candidates like Trump and their promises for the economy and crypto industry development. This also questions the increasing load of the US national debt, which the country has no possible way to pay. Interestingly, the Bitcoin Reserve has become one potential option to battle this yearâs long debt.
Reports Reveal Bitcoin Reserve Could Pay Off US National Debt
As per the U.S. Treasury Fiscal Data, the country has $35.14 trillion in federal debt and is growing more with almost no perfect solution. Many analysts and industry professionals believe Bitcoin could be one way to deal with it.
River, a US-based Bitcoin exchange, has assembled new reports revealing how managing a BTC reserve could help with the US national debt. Additionally, ex-president Trump announced Bitcoin strategic reserve in a discussion with the CEO of Bitcoin Magazine.
As per the River report, if the country could hold 5% of the total supply of Bitcoin, the most popular cryptocurrency, it could pay off a major load of its debt. River has explained how holding an asset that grows higher than printing money could tackle the US debt. As Bitcoin has been growing more than 60% every year for the last ten years, it is a popular candidate for high-return investment.
At the of writing, the BTC price is closer to the $59K mark with a market cap of $1,155,049,577,387. But it has risen to as high as $73,750.07 a few months ago. This was the best performance of this cryptocurrency since its launch. With this, BTC is now eyed by major investors, and the US government could be one of those.
The river report also revealed that the US already holds 213,246, which is more than any country. So, they already have a great start, and if they could raise it to 5% of the total BTC supply, they could pay a major portion of their debt.
