2024-11-19 16:00 |
Pro-XRP lawyer John Deaton highlighted plans for the United States economy to rebound amid macro factors. The rising debt profile remains a talking point for many crypto enthusiasts pitching a strategic Bitcoin reserve, among other solutions. The leading crypto asset has been deployed as a hedge against inflation and a store of value in many jurisdictions. The upsurge in BTC price and global adoption could change the course of the traditional order.
John Deaton Makes Case For BitcoinIn a recent post on X (formerly Twitter), Deaton backed technologies like blockchain, Artificial Intelligence (AI), robotics, crypto, and automation, among others, to lead the country out of troubled waters. The U.S. debt surpassed $36 trillion, with most citizens criticizing government spending and policies calling for advanced solutions. Crypto enthusiasts have always opposed rising debt, calling for adopting Bitcoin to protect wealth.
Printing more money leads to inflation, which reduces purchasing power. With a huge debt burden and $3B in daily interests, Deaton pointed to some of Donald Trump’s plans.
“We must GROW our way out of this mess. We grow by making sure America leads the world in AI, Automation, Robotics, Crypto & Blockchain, Web3, Renewable Energy Technologies, Space Exploration, etc. And yes, when your government prints 80% of all USD during the last 4 years, Bitcoin is likely going to do very well.”
He added that Elon Musk and Vivek Ramaswamy heading the Department of Government Efficiency (D.O.G.E) will place spending on check. This has been a major highlight since Trump won the US Presidential elections. Furthermore, moves ought to be made for manageable interest while raising the GDP.
Bitcoin Rally on Plunging Macro FactorsThe price is Bitcoin has gained momentum in the last 39 days as inflows continue to flow into the market. This recent jump is due to expected positive policies to be ushered in by the Trump administration driving up market sentiments. Institutional inflows are also rising as debt increases with users seeking to hedge against inflation.
Investment manager Tudor Jones recently signaled that all roads lead to inflation ahead of the U.S. elections, revealing his bullish stance on Bitcoin and gold. Several market participants followed this line, repositioning assets following sustained movement and expert projections. This month, Bitcoin broke its all-time high, soaring above $93K, with bulls setting huge targets in the following months.
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