BIT: $40 Trillion Debt Looming, Capital May Accelerate Flow into Gold and Bitcoin
7x24h News
BIT: $40 Trillion Debt Looming, Capital May Accelerate Flow into Gold and Bitcoin
According to BIT's "On Target" Weekly Report, the total outstanding public debt of the US federal government has approached $40 trillion (currently about $39.7 trillion), with US Treasury yields continuing to rise to near 5%. The report points out that Japan, due to facing domestic inflationary pressure and rapid depreciation of the yen, may gradually reduce its holdings of US Treasury bonds; meanwhile, China is also promoting diversification of foreign exchange reserves, continuously reducing US Treasury allocation and increasing gold reserves. Coupled with factors such as the approaching November US midterm elections and tightening US-China relations, market confidence in US Treasury bonds continues to be under pressure. Bitcoin is currently quoted at about $66,505, showing a high positive correlation with the trend of US government debt scale, as the market watches whether funds are accelerating their shift to non-sovereign assets such as gold and Bitcoin.
Navigating Web3 tides with focused insightsTechFlow News, July 24, according to BIT's "On Target" Weekly Report, the total outstanding public debt of the US federal government has approached $40 trillion (currently about $39.7 trillion), with US Treasury yields continuing to rise to near 5%. The report points out that Japan, due to facing domestic inflationary pressure and rapid depreciation of the yen, may gradually reduce holdings of US Treasury bonds; meanwhile, China is also promoting diversification of foreign exchange reserves, continuously reducing US Treasury allocations and increasing gold reserves. Coupled with factors such as the approaching US midterm elections in November and tightening China-US relations, market confidence in US Treasuries continues to be under pressure. Bitcoin is currently quoted at about $66,505, showing a high positive correlation with the trend of the US government debt scale, and the market is watching whether funds are accelerating their shift to non-sovereign assets such as gold and Bitcoin.
