Current US debt is more than 5.6 Bitcoins for every single person in America
707 sats \ 6 comments \ @nullama 16 Nov 2022 bitcoin
If you look at the US national debt, you'll see that right now it's at $31.2 Trillion. That's $93,860 for every single person in America.
Currently, 1 Bitcoin is traded at roughly $16k.
Even if you put together all the 21M Bitcoins that will ever be in existence at the ATH price, that wouldn't be enough to pay the US debt. You would be about $30 Trillion short.
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52 sats \ 2 replies \ @Undisciplined 16 Nov 2022
I don't think it's particularly surprising that the current valuation of Bitcoin is less than the entire accumulated federal debt. They have been working on it for over two hundred years, after all.
To extend this line of thinking a little bit though, dividing 31 trillion by 21 million would give the price of Bitcoin in a world where the total dollar valuation of Bitcoin is equal to the US national debt. That price is about $1.5 million per Bitcoin.
I think it's safe to say the dollar would have to be in real trouble by that point and the national debt would certainly have become much larger.
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11 sats \ 1 reply \ @nullama OP 17 Nov 2022
In 2018 US debt was about $21T
In just 4 years there was a 50% increase. That's a massive increase.
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0 sats \ 0 replies \ @Undisciplined 17 Nov 2022
Exponential growth is pretty nuts. It seems like every president more than doubles the debt.
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1 sat \ 0 replies \ @phamtruax 17 Nov 2022
BTC to 10million+
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0 sats \ 0 replies \ @selfish_gene 17 Nov 2022
может нужно сделать другой поворот? не измерять биткоин в доллар? или это будет продолжаться вечно
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0 sats \ 0 replies \ @TheBTCManual 17 Nov 2022
So basically if bitcoin was too sure up that hole as collateral, it would be $1.6 million a coin? Man we are so early
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