US national debt is 33 times higher than total crypto market cap
During this week, the US National Debt reached its all-time high value, for an accumulated debt of over $33 trillion, which has made economists question the United States’ abilities to honor their financial obligations to Treasury investors. Interestingly, the US national debt is now over 33 times higher than cryptocurrencies’ total market capitalization of $1.04 trillion. Crypto total market cap chart. Source: CoinMarketCap This means that the United States government would need the equivalent of all the money in more than 30 crypto market s in order to repay all the investors that somehow are betting on the country’s financial health, effectively lending money to this government through US Treasury bonds. When converted to values in Bitcoin (BTC), the dominant crypto currency with over 50% of the entire market cap, this debt would be equal to 60 times the total supply of 21 million BTC. Cryptocurrency Each taxpayer would need to pay 10 BTC to get even wit...