Reuters: Worsening U.S. debt outlook has more to show for gold and Bitcoin
According to news on April 19, market observers said that although the U.S. Treasury market has so far remained relatively optimistic about the country’s fiscal path, the recent surge in gold and Bitcoin prices is partly due to concerns about the rapid rise in U.S. government debt. The uncontrolled growth of U.S. government debt is causing growing concern as interest rate payments also take up a larger share of the government budget. This worsening trajectory is boosting demand for Bitcoin and gold, currencies that are often Used to hedge against the risk of inflation and the depreciation of the purchasing power of the U.S. dollar.
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