National debts have ballooned for most major countries in the past few years. To put that into a crypto-perspective, let’s see how much that would be relative to the current market capitalization of Bitcoin.
It’s no secret that national debts are high. The United States is currently $22.5 trillion in debt. It’s a shockingly high number and may cause us to second-guess how many government budgets are even sustainable.
Here are some more numbers.
Not Enough Bitcoins
As it stands now, the U.S. leads the world by a considerable margin when it comes to the national debt.- USA: $22.5T (2750582250.00 BTC)
- Japan: $12T (1466977200.00 BTC)
- China: $9.5T (1161356950.00 BTC)
- UK: $3.5T (427868350.00 BTC)
- France: $3T (366744300.00 BTC)
- Italy: $2.9T (354519490.00 BTC)
- India: $2.8T (342294680.00 BTC)
- Germany: $2.2T (268945820.00 BTC)
National Debts Relative to Bitcoin’s Market Capitalization
Given these high numbers, let’s consider how much each country’s debt would be relative to Bitcoin’s market capitalization. Bitcoin’s current market capitalization is around $147B so, at current price levels, these debts are too large to even be captured by the entire circulating supply. So, it would make more sense to calculate these numbers as factors of Bitcoin’s current market capitalization. Here are the numbers and — fair warning — they may shock you.- USA: ~152x more than Bitcoin’s market capitalization.
- Japan: ~81x
- China: ~65x
- UK: ~24x
- France: ~20x
- Italy: ~20x
- India: ~19x
- Germany: ~15x
Top crypto platforms in the US | March 2024
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Anton Lucian
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.
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