2023-07-09 12:55:00
[블록미디어]Galaxy Investments CEO Michael Novogratz has urged investors to buy Bitcoin to counter the risk of soaring US government debt.
Novogratz made the recommendation following investor and strategist Charlie Bileello disclosed that government debt had increased by 1 trillion won since June 2, when the US government debt ceiling was suspended.
U.S. Debt Increases by $1 Trillion a Month – Captured from Charlie Bilello Tweet
In the first week of July, US debt reached $32.47 trillion, according to data released by Villero. This is an increase of more than $1 trillion from $31.47 trillion on June 2, when the debt ceiling was suspended.
The U.S. government and Congress agreed to reduce the U.S. budget deficit by $1.5 trillion over the next 10 years in exchange for deferring the debt ceiling, which currently stands at $31.4 trillion as of June 2, until January 1, 2025.
Novogratz called the debt growth crazy and asked to “explore the potential of Bitcoin in preparation for the dollar’s depreciation as a result of the government’s expansionary monetary policy.”
It is believed that an increase in the potential money supply due to the expansion of debt will lead to inflation and a rise in the price of bitcoin.
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good article to look at
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