That Means Bitcoin (BTC) Will Never Be the World Currency

Dan Held shared: If the US government-owned every single Bitcoin and each coin was worth 1 million dollars, it still wouldn’t be enough to pay off the US national debt. Think about that for a second.

Community Response:  So, 1 million is nothing for BTC. WHAT ABOUT 10 Million?

That means bitcoin will never be the world currency.

US government REKT when the printer goes down.

BTC still has a 1000x in it.

If the US put the entire social security into Bitcoin today it would pay for itself in 20 years 10 X over just by the remittances placed monthly during disbursement. Plus, they could make Defi interest on the balances while they are being deployed- Funds get marked at transfer.

The trading they could be doing could potentially be astronomical. If only they begin it 13 years ago instead of fighting it.

Maybe each Bitcoin needs to be worth 1T dollars to cover the debt.  No, it needs to be precisely 1,109,523 dollars. But it is already shocking that it needs to be OVER 1M.

If they could pay off the national debt completely, what would be the outcome? The legacy system needs more debt to get ‘growth’.

They constantly print money so they need to start buying as much as possible to back money and settle the debt.

Our debt situation is whacked. And if interest rates go up beyond 3 or 4% the government can’t service the interest on its gargantuan load of treasury bonds. Think about that. And if foreign actors decided to flood the bond market sell pressure would spike rates. Game over.

Just another example of how undervalued Bitcoin is.

So, then would it be useless for the US to buy as much BTC as it could? Or would valuable Satoshi’s be suffice?

The value would increase to meet the demand.  Also, the price of everything will decrease to adjust to the new standard.

What is this “pay off” you are talking about sir; this is a Fiat Standard?

If someone still giving them loans, their credit score should be dead, even BTC will not help them.

Think about unfunded liabilities. We are doomed. Our children are doomed. Our grandchildren are doomed.

But they are the United States. What’s the price of the USA? More or less than the dept?

Sounds like the coins are going to cost more than 1 million dollars per?

A debt of the sovereign is an obligation of the sovereign only so long as the sovereign says so. Sort of like continuously funding those that own the debt. Or I guess we should say “the debt.”

Even if they could, do you think the US government would pay off the debt?

Moral of the story: if they got is into debt with Fiat, we shouldn’t trust them with our crypto.

Trying to bring rhyme or reason to the size of the US debt is a waste of brainpower. They have been bankrupt for decades and the flexibility of their financial system is the reason they will never take Bitcoin as a reserve as some wish for.  Can’t manipulate it like the current system.

But if each coin was worth one hundred million Sats at $1, would that work?

In other words, bitcoin is the currency of capitalism for the average person to prosper from and not the government which is run by socialists or corporatists who disregard the first rule of economics i.e., scarcity.

That is an eye-opener could you do the same maths for the United Kingdom.

That’s true. Works out to be USD 18 trillion only.

It’s the way to make money not to pay off your debt, but to service it and invest money elsewhere.

Only a reserve currency nation can pull that off. Any smaller nation would suffer terrible inflation. Oh, that is exactly what is happening now

They could just re-denominate the value upwards until they had enough value, pay it off and as they’d pay it to themselves, they’d still have all the Bitcoin.