With US public debt reaching 97% of GDP at the end of 2023 and forecast to reach 166% by 2054, this threatens the strength of the US dollar
As the U.S. debt continues to spiral out of control, investors are turning to cryptocurrencies as a hedge against inflation and a way to diversify their portfolios. Here are three cryptocurrencies that could benefit from the rising U.S. debt:
1. Bitcoin (BTC) is the most obvious beneficiary of a scenario like the one described above. Due to gross mismanagement over an extended period of time, investors could ultimately turn away from the U.S. dollar. Unsustainable debt levels will hurt the economy sooner or later, and investors will want to break away from the centralized authority that created the problem in the first place. Decentralization is one of the overarching narratives that favor Bitcoin.
2. Solana (SOL), like all other cryptocurrencies, follows Bitcoin first and foremost. When Bitcoin goes up, Solana goes up too. When Bitcoin falls, Solana falls too. This is the nature of all altcoins, they follow the leader.
3. Shiba Inu (SHIB) is pure speculation in the world of cryptocurrency. That says a lot, because there is a lot of speculation throughout the industry. However, I think some speculation is good. Shiba Inu has become the 12th most valuable cryptocurrency overall.
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