#美国国债 breaks 37 trillion, Bitcoin becomes the new 'safe-haven hard asset'

The national debt of the United States has surpassed **37 trillion dollars** at a historical peak, with annual interest expenditure exceeding **1.3 trillion dollars**, accounting for 26% of fiscal revenue. The debt-to-GDP ratio has reached **122%**, and if it continues to expand, by 2030 government interest and mandatory spending will exhaust all fiscal revenue.

This crisis is accelerating capital flight from traditional fiat currency systems:

1. **Dollar credit shaken**: BlackRock CEO Larry Fink warns that if debt spirals out of control, Bitcoin may replace the dollar as the global reserve currency.

2. **Institutions turning to BTC**: The yield on 30-year U.S. Treasury bonds has soared to **5.15%**, a new high since 2007, with investors viewing Bitcoin as a 'politically neutral store of value', and assets under management for spot Bitcoin ETFs have surpassed **104 billion dollars**.

3. **National strategic endorsement**: The U.S. government has defined Bitcoin as 'digital gold', launching a strategic reserve plan aimed at accumulating 1 million coins within 5 years (accounting for 5% of the total), and promoting BitBonds (Bitcoin-enhanced government bonds) to hedge debt against BTC appreciation.

> **The debt black hole devours dollar credit, and the scarcity and decentralization of Bitcoin are becoming the new generation of 'financial safe havens'**.