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Bitcoin could solve America’s debt problems. MicroStrategy CEO Michael Saylor has proposed a plan to cut $16 trillion from the national debt through Bitcoin purchases. The U.S. currently faces a $33 trillion debt that needs urgent solutions. Also Read: De-Dollarization Enters South America? China to Build a Megaport Worth $3.6 Billion Michael Saylor’s Bold Bitcoin Strategy for US Debt Reduction Source: CNBC Strategic Bitcoin Reserve Implementation https://twitter.com/SenLummis/status/1854208373740458432?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1854208373740458432%7Ctwgr%5Ea43cb09d698d55916e0850ed9cf2bd67505cc8e7%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcoinpedia.org%2Fnews%2Fcould-a-bitcoin-reserve-change-americas-economic-future%2F Saylor’s plan calls for buying one million Bitcoins over five years. This matches how governments traditionally use gold reserves but with digital currency instead. “Bitcoin is Manifest Destiny for the United States,...

In what is an immensely concerning development, the US government has reportedly spent $1.049 trillion in 2024 on interest payments for its national debt. Indeed, the government’s debt figure has surpassed $35.3 trillion this year, as the country faces an impending crisis. The US Treasury Department reported the spending as the interest rate payments passed the $1 trillion mark for the first time in history. The figure is up 30% from this point last year. Moreover, the total debt service is expected to be even bigger by the end of the calendar year. JUST IN: US government announces it has spent over $1 trillion this year on interest payments for its $35.3 trillion national debt. — Watcher.Guru (@WatcherGuru) September 12, 2024 Also Read: Donald Trump Suggests Paying Off $35T National Debt With Bitcoin US Treasury Reports $1 Trillion Spent on Interest For National Debt The US economy has certainly been in a concerning position. Amid its fight against inflation, the Federal R...

Amid the ongoing uncertainty facing the country’s economy, US credit card debt has reached an all-time high of $1.14 trillion. The figure was reported by the Federal Reserve Bank of New York Tuesday, and shows the concerning necessity for American citizens to rely on borrowing. The figure has been on an upward trajectory for some time. Indeed, the figure is currently $27 billion more than it was in Q2 2024. With employment data driving panic of an incoming US recession, worries of an economic downturn continue to persist. JUST IN: US credit card debt reaches new all-time high of $1.14 trillion. — Watcher.Guru (@WatcherGuru) August 8, 2024 Also Read: The US Debt Limit Hits $35T, What Does It Mean For The US Dollar? US Credit Card Debt Hits Record In a Concerning Development Since the start of the year, the finance sector expressed worry over a rising US national debt figure. The limit recently hit a record of $35 trillion, with federal spending looking to facilitate an incom...