US National Debt
The US National Debt continues to rise and lately, it's been picking up even faster. On January 4th, 2024, we saw the nation's debt increase to $34 trillion, a significant jump from $33 trillion in September 2023.
What's causing the rise in the US national debt?
Currently, the US national debt is increasing at a rate of $1 trillion every 100 days, primarily driven by the federal government's ongoing borrowing to cover its operational expenses. As the US national debt keeps climbing, it's causing the dollar to weaken, reducing its purchasing power for everyone. If this trend goes on, the dollar's value may drop even further, plunging the US deeper into debt.
If this continues further, how are individuals able to protect their wealth against rising debt?
Recently, many investors have been turning to assets such as Bitcoin as a way to protect their funds from the falling value of the US dollar.
Bitcoin’s Performance
Bitcoin, the leading cryptocurrency per market cap, has entered as an increasingly popular investment lately due to its role as an alternative store of value and hedge against inflation. Historically, during turbulent economic times, Bitcoin has increased tremendously. Specifically, on March 5th, 2024 Bitcoin set a new record of +$69,000 surpassing its previous all-time high.
Experts believe Satoshi Nakamoto created Bitcoin to offer an alternative to the existing financial system, criticized for its weak monetary policies, at a time when the US dollar continued to become weaker.
What Are Investors Doing?
With the US National Debt continuously on the rise, investors are growing increasingly concerned about the future of their assets. This uncertainty has prompted a significant shift towards Bitcoin, especially following the approval of the Spot Bitcoin ETF, which has made headlines for driving up both adoption and demand.
At iTrustCapital, you can buy and sell Bitcoin, all within the framework of a tax-advantaged crypto IRA. Sign up today and take advantage of iTrustCapital’s easy-to-use platform available 24/7.
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DISCLAIMER
This article is for information purposes only. It does not constitute investment advice in any way. It does not constitute an offer to sell or a solicitation of an offer to buy or sell any cryptocurrency or security or to participate in any investment strategy.
iTrustCapital is a cryptocurrency IRA software platform. It is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not associated with and has no direct relationship with Bitcoin. iTrustCapital is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.
Cryptocurrencies are a speculative investment with risk of loss. Precious metals are a speculative investment with risk of loss. Cryptocurrency is not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA have not been endorsed by the IRS or any regulatory agency. Historical performance is no guarantee of future results.
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