United States adds total market cap of Bitcoin worth of debt in 15 days, fear of recession intensify

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

The economic and political conditions of the United States have been feeding the concerns of a recession. The fear of a government shutdown, the remov

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in BUSİNESS

Business Business Latest News, Business Business Headlines