In the past two weeks, the United States has noted an increase of $500 billion worth of debt. Most of this came between October 1 and 3 as debt rose by $293 billion in three days, amounting to more than half of Bitcoin’s market cap of $550 billion. Analysts are suggesting Bitcoin holds the potential to make the most of these market conditions amid intensifying recession concerns. al of McCarthy as Speaker, and the rising debt are increasing the worry among citizens.
US Treasury Statement October 3 Although the debt increase has been faster than the GDP growth for nearly ten years at this point, the current debt-to-GDP ratio, at 120%, is just below its 135% peak in 2020 when the COVID-19 pandemic hit the world. US Debt-to-GDP ratio Interestingly, the Federal Reserve Chair Jerome Powell has continuously maintained the central bank’s stance of a sound economy.