US debt crisis might drive Bitcoin to $1M by 2030
Sebastian Serrano, CEO of Argentina-based cryptocurrency exchange Ripio, has forecasted that Bitcoin (CRYPTO:BTC) may soar to $1 million by 2030, driven by escalating U.S. public debt and dollar devaluation.
Serrano contends that ongoing fiscal pressures and high government spending—regardless of the 2024 U.S. presidential election outcome—will intensify the need for debt-fueled financial strategies, ultimately eroding the dollar’s value.
“The U.S. debt is already US$35 trillion,” Serrano stated, adding that the U.S. fiscal state has “no other option but to devalue the currency.”
This mounting debt, according to Serrano, will push investors toward assets viewed as safe havens, including gold and Bitcoin.
“The elderly will run to gold, and the new generations will buy Bitcoin,” he emphasised, explaining that this trend may differ by generation.
Serrano’s prediction follows a broader belief among investors that Bitcoin could serve as a hedge against governmental fiscal policies.
Matt Hougan, CIO of Bitwise, echoed this sentiment in September, describing Bitcoin as the “ultimate insurance policy against our government royally messing up the U.S. dollar.”
Despite Serrano’s bullish outlook, he suggests that Bitcoin’s price may experience some volatility in the near term, particularly if Kamala Harris secures the presidency, as this could influence market corrections in 2024.
However, he maintains that the overall trajectory remains positive, with significant growth anticipated over the next six years.
Serrano’s views reflect a growing perspective among investors that rising national debt and inflationary pressures will bolster Bitcoin’s appeal as a long-term store of value, with the potential to reach unprecedented levels by the decade’s end.
At the time of reporting, the Bitcoin price was $74,386.81.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ripple CEO Reveals the Truth About the Amount of XRP on the Company's Balance Sheet
Tether to Build 70-Story Skyscraper in El Salvador, Symbol of Prosperity
Tech giants bounce back after AI disruption, S&P 500 nears record high
Share link:In this post: Last week, the largest tech firms in the US experienced huge challenges from Chinese AI, DeepSeek. Apple and Meta reported positive results, boosting the S&P 500. The Magnificent Seven’s price-to-earnings ratio is now 31.
OpenAI launches o3-Mini as it fights back against DeepSeek
Share link:In this post: OpenAI has launched its o3-Mini AI model to fight back against DeepSeek’s latest model. The company mentioned in its blog post that the o3-Mini is the most cost-efficient model in their reasoning series. DeepSeek’s breakthrough caused a $1 trillion tech selloff while putting pressure on AI chip makers.