US National Debt Is Growing Rapidly: Bitcoin Could Become the New Reserve Currency
Date: 2025-06-05 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
The US national debt has approached $37 trillion, and this has become a reason for active discussions among representatives of the cryptocurrency and technology industries. Coinbase CEO Brian Armstrong said that if the government does not begin to address the problem of growing debt, Bitcoin could well take the place of the world's reserve currency. According to him, over the past 25 years, the debt has increased more than sixfold, and since 1966 - more than 110 times.
Armstrong responded to this alarming data in X, emphasizing that without efforts to reduce the budget deficit, America risks weakening its position in the world. He pointed out that Bitcoin could become the main means of accumulation if voters do not begin to demand that Congress cut spending and restructure debt obligations. At the same time, he emphasized that although he supports Bitcoin, maintaining a strong US economy remains a priority.
His point of view was supported by Elon Musk, the head of Tesla. He sharply criticized the tax initiative supported by President Donald Trump. Musk called the proposed changes "a disgusting abomination", noting that they will worsen the already critical budget deficit, which could reach $2.5 trillion. In his opinion, American citizens will find themselves under an even greater debt burden if this initiative is implemented.
Against the backdrop of this discussion, Komodo CTO Kadan Stadelmann recalled that Bitcoin was originally created as a defense against an unstable fiat system. He noted that the growth of US debt could lead to a fall in the dollar, which in turn will provoke an increase in interest in Bitcoin and a possible shortage of cryptocurrency on the market.
A similar opinion was expressed by Republican Keith Ammon from the New Hampshire House of Representatives. He said that the federal government's fiscal policy was undermining the stability of the dollar and that Bitcoin could play a role in protecting against inflation. Ammon added that American states were now forced to compete not only with each other, but also with the federal center itself, which would likely print money to cope with the growing debt.
Six Nobel laureates in economics, including Paul Krugman and Joseph Stiglitz, also joined the discussion. In an open letter, they pointed out that the proposed tax reform would increase social inequality and lead to an increase in debt by more than $3 trillion, and if these measures become permanent, the consequences will be even more serious.
