US National Debt at Record High, TurboFish CEO Predicts Surge in BTC Adoption

IconCryptoNewsTerminal Staff31 Jul, 2024

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US National Debt at Record High, TurboFish CEO Predicts Surge in BTC Adoption

The CEO of TurboFish, a next-generation open-source blockchain technology company, has predicted that the United States' national debt surpassing $35 trillion for the first time could bolster Bitcoin (BTC) adoption. "This news raises concerns about the sustainability of fiat currencies. In contrast, Bitcoin is increasingly being recognized as a decentralized, deflationary asset that provides a hedge against fiat currency devaluation," he explained. Bitfinex analysts also highlighted that the $35 trillion U.S. national debt suggests that Bitcoin is "increasingly important as hard money" and could potentially act as a catalyst for the next Bitcoin bull cycle. "Investors will look for alternative stores of value such as Bitcoin," they emphasized.

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