Bitcoin’s bull case grows as U.S. debt tops $40T

Bitcoin’s long-term investment case is gaining support from rising U.S. debt and persistent fiscal deficits, according to BlackRock global head of digital assets Robbie Mitchnick. Summary $40.05 trillion U.S. debt has renewed investor attention toward Bitcoin and gold, according to Mitchnick. Mitchnick argues fiscal sustainability matters more for Bitcoin’s valuation than pending cryptocurrency market structure legislation. CBO projects fiscal 2026 deficit at $1.9 trillion, widening further through 2036 under current law. Bitcoin remained below $80,000 after its strongest three-day advance since 2023 during last week’s market rebound. CLARITY Act progress could affect decentralized finance more than Bitcoin, which already has regulatory acceptance. Mitchnick said in an Aug. 26 interview that renewed concern about government borrowing was leading some investors to consider assets outside the sovereign monetary system. U.S. gross federal debt reached approximately $40.05 trillion on Aug. 18, according to the Treasury Department’s dataset. Bitcoin benefits when fiscal concerns return Mitchnick argued that government debt and budget deficits are becoming major market concerns. Investor...