As the US government approaches the deadline to raise its $13.4 trillion debt ceiling, how does this affect Bitcoin?
The debt ceiling fiasco
A periodic war between both parties in the US government is over the raising of the country’s debt ceiling. It is always the case that the opposition party will take the governing party to the wire and extract as much advantage as it can before agreeing the new debt ceiling.
The debt ceiling is the maximum amount of debt that the US can borrow in order to meet its financial obligations. Analysts predict that the US could run out of money by Q3 or Q4 this year, while some are saying that weak tax receipts for April may bring the deadline forward.
If the US should somehow not be able to raise the debt ceiling in time it will default on its debts, something that is almost unthinkable for the US government, and would potentially lead to a global economic crisis.
So would a US debt default be good for Bitcoin?
Bitcoin thrives in the good times
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We współpracy z: https://cryptodaily.co.uk/2023/04/us-13-trillion-debt-ceiling-debacle-bitcoin-anyone
