Bitcoin could see a new all-time high due to the looming US federal debt, which surpassed $105,000 for every living person in the country.
The growing national debt of the world’s largest economy, the United States, could catalyze mass Bitcoin adoption, according to analysts.
On July 30, the US federal government’s national debt surpassed $35 trillion for the first time in history, raising concerns about the health of the economy.
However, the ballooning US debt could fortify Bitcoin's (BTC) adoption and its status as a safe-haven asset, according to Matt Bell, the CEO of Turbofish. He told Cointelegraph:
