Bitcoin Hail Mary

One thing is obvious, Bitcoin is one of the main winners from the US elections, up a staggering 50% since then. The market capitalization of all cryptocurrencies is now $3.83 Trillion. That’s more than the GDP of the UK, or the 186 countries outside of the biggest six, combined. No matter what you think of blockchain, the metaverse, or even NFTs, that is too much money to ignore.

For those of us struggling to understand what blockchain is, remember that few people know how the internet works either, yet seem to be using it just fine. What is the utility of Bitcoin? That remains to be seen, but it would seem implausible that we buy our groceries with something that could lose its value by 80%, twice. Ultimately, the value of an asset is what someone is willing to pay for it, digital or not. 

Which brings us to the US Deficit, or rather the plan for how to get rid of it. Given the total US debt and the current price of BTC, if we bought ten million coins, and Elon does another half, and if past performance is indicative of future returns, then we should be able to grow out of the whole lot in about ten years. Seems totally feasible, if not entirely reasonable, to be wholly achievable.