$BANANAS31 #USDollarWarning
"The U.S. national debt is rising by $1 trillion every 100 days," Michael Hartnett, chief strategist of Bank of America, wrote in a note to clients seen by CNBC, adding it's "little wonder ‘debt debasement’ trades closing in on all-time highs, i.e. gold [at] $2077/oz [and] bitcoin [at] $67,734."
Hartnett predicted the newly created spot bitcoin exchange-traded funds (ETFs) that have taken Wall Street by storm over the last month are on course for a "blowout year," in part because of the collapse of the U.S. dollar.
U.S. national debt has skyrocketed in recent years, crossing the $34 trillion mark at the beginning of 2024, as Covid and lockdown stimulus measures—triggering wild predictions last year the bitcoin price could boom to $1 million per bitcoin.