Do you think the crypto market is in the early stages of a bull run this year?
Today we will summarize why it is said that the current global monetary system is about to change, shifting towards a Bitcoin-dominated world currency system. This year is the mid-point of a bull market.
By September 2024, the scale of US national debt is expected to reach $35.27 trillion, and this figure can only increase, not decrease.
The scale of US debt could reach 200% or even 300% of GDP within the next ten or twenty years.
Currently, the US's earning capacity will not allow it to repay this debt for the entirety of its future.
The current GDP of the US is only $26.9 trillion, and the debt already accounts for 131% of GDP.
Thus, the US cannot repay its debts normally.
However, it is entirely possible for the US to use Bitcoin; it only needs to continuously increase the value of Bitcoin while the dollar depreciates, allowing it to repay this $30-some trillion debt with a small amount of Bitcoin in the future.
The second reason is that many countries are now promoting de-dollarization to reduce their dependence on the US.
For example, many BRICS countries, such as China, Russia, Brazil, as well as African nations and India.
They are currently establishing a BRICS system, which is to create their own currency and monetary system, thus not necessarily relying on the US.
In addition to these countries, North Korea and other nations sanctioned by the US are also no longer using the dollar.