Bitcoin Rallies as Global Debt Hits Record High

Global debt continues to rise, surpassing $365 trillion in total by the first half of this year. According to data from the Institute of International Finance, global debt increased by $10 trillion during that period.

The US is also experiencing a significant increase in debt, with its total exceeding $40 trillion and annual interest payments rising to $1.27 trillion.

This trend has led analysts to warn about the potential for benchmark interest rates to rise, causing interest costs to continue increasing.

Nic Puckrin, founder of Coin Bureau and cross-asset analyst, notes that the current environment favors 'debasement assets' such as Bitcoin and gold due to the declining purchasing power of fiat currencies.