NewsMV
national debt reached $40 trillion in August, a figure that sparked a wave of bullish commentary for Bitcoin ($BTC).
The narrative suggests that rising sovereign debt acts as a debasement trade, weakening the dollar and boosting inflation hedges like gold and Bitcoin.
However, the statistical evidence for this link is thin, and the market reaction in late August appears driven by liquidity rather than the debt milestone itself.
The Data Does Not Support The Safe Haven Thesis Bitcoin rallied roughly 23% in late August, moving from the low $60,000s to the high $70,000s.
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