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$40 Trillion Debt Sends Investors Flocking to Bitcoin

Guavy AI Editorial Team
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BTC
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BlackRock's digital assets head Robbie Mitchnick believes rising US debt and persistent fiscal deficits are a growing concern for investors. This trend is pushing some towards alternative stores of value, such as Bitcoin and gold.

Federal debt has reached an unprecedented $40.05 trillion on August 18, according to recent numbers. Mitchnick says that this development holds more significance for Bitcoin's long-term valuation than any pending market developments.

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