The recent rise in the price of Bitcoin has also rekindled the debate about its potential to help solve national debt issues. In Bulgaria, the Bitcoin reserves, confiscated from a criminal group in 2018, have increased in value to nearly 80% of the national debt.
Similarly, the United States has a huge national debt, currently around 36.2 trillion dollars. Many believe that Bitcoin could help alleviate this burden if the United States were to retain its Bitcoin reserves instead of liquidating them prematurely.
Additionally, the GENIUS Act, supported by Donald Trump to accelerate the integration of digital assets in the U.S., would put the country in a favorable position against competing nations in the global cryptocurrency race. Trump has expressed a positive opinion about Bitcoin's potential to address key economic challenges and, therefore, the adoption of cryptocurrencies could offer a long-awaited competitive advantage to the U.S.