Does the U.S. really want to use Bitcoin to solve the national debt problem? The international community is not buying it!
Recent analyses have pointed out that the U.S. once considered using Bitcoin and other crypto assets to address the $36 trillion national debt pressure, but this idea did not receive positive responses from major economies. Market observers indicate that there are widespread concerns among countries regarding the volatility of cryptocurrencies and regulatory risks, which has hindered the advancement of this proposal.
Bitcoin, due to its fixed supply but infinite divisibility, has faced skepticism from some viewpoints regarding its speculative nature. Supporters argue that its technological advantages are significant, while critics point out the severe price volatility and high risk of market manipulation. Public data shows that the amount of Bitcoin held by the U.S. is approximately $12 billion, which is significantly small compared to the massive national debt. To fully cover the debt with Bitcoin, its price would need to increase by several dozen times, and this assumption currently lacks a realistic basis.
At the policy level, there are divergences among countries regarding the classification of Bitcoin. For instance, some European countries recognize its monetary attributes, while economies like China explicitly define it as a virtual commodity, restricting its circulation within the financial system. This regulatory divergence further undermines Bitcoin's feasibility as an international debt solution.
Market analysts point out that the high liquidity risk of Bitcoin fundamentally contradicts the stability requirements of U.S. Treasury bonds. Although decentralized finance (DeFi) technology provides new pathways for asset trading, traditional financial institutions still prefer to manage risks through mature tools like gold and foreign exchange reserves. Furthermore, if the U.S. forcibly pushes for Bitcoin to be linked with national debt, it may trigger further doubts about the credibility of the dollar and even accelerate the restructuring of the international monetary system.
For ordinary investors, the extreme volatility of the cryptocurrency market remains a significant challenge. Historical cases show that unregulated markets can easily become speculative tools, with retail investors often at a disadvantage due to information asymmetry.
In summary, Bitcoin currently does not meet the conditions to replace traditional debt repayment methods. The cautious attitude of the international community reflects deep concerns about the combination of new financial instruments and sovereign debt. In the future, the U.S. may need to address debt challenges through fiscal reform and multilateral cooperation, rather than single asset speculation.