Investors are turning to safe-haven assets like Bitcoin and gold as the U.S. national debt approaches a record $38 trillion.
America’s national debt, currently $37.9 trillion, has increased by $69,890 over the past year, or about $4.2 million over the past year, according to the U.S. Congress’ Joint Economic Committee (JEC) Debt Dashboard.
According to data from World -Moter, this equates to a staggering $6 billion per day.
Changes in the U.S. government debt over the past 12 months were measured at specific time intervals. sauce: United States Congress Joint Economic Committee
U.S. Representative Keith Self said Friday that the debt tally will top $38 trillion in a few weeks and will probably top $50 trillion within a decade.
“Congress must act now. We demand fiscal responsibility from your leaders before the gradual slide suddenly collapses.”
At current rates, the US is expected to surpass $38 trillion in 20 days.
Investors flock to Bitcoin and gold
Last week, JPMorgan touted Bitcoin (BTC) and gold as a “collapse trade” amid increased dollar uncertainty.
Bitcoin hit a new all-time high of $125,506 on Saturday, and gold hit a fresh high of $3,920 on Sunday.
Bitcoin’s fixed supply and decentralized nature have led the likes of BlackRock CEO Larry Fink (and former Bitcoin critic) to say in January that Bitcoin could hit $700,000 on fears of currency collapse.
Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund, recommended in July that investors allocate 15% of their portfolios to hard assets such as Bitcoin and gold to optimize their “risk-return ratio.”
It’s not just America, Dalio says.
At the time, Dalio said other Western countries like the UK faced the same “debt doom loop” problem and their currencies would continue to underperform compared to Bitcoin and gold.
Reuters reported late last month that global debt had grown to a record high of $337.7 trillion by the end of the second quarter.
Trump’s efforts to slow down our debt
Cutting federal spending and reducing the deficit have been cited as policy priorities under the Trump administration.
For months, the Trump administration brought in Tesla CEO Elon Musk to cut spending to support government efficiency, saving $214 billion so far. but,
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But President Donald Trump signed what he described as the “Big Beautiful Bill Act” in July, seeking to save more than $1.6 trillion in federal spending.
Musk left as a 130-day restriction as the special civil service neared completion, but his previously strong relationship with Trump soured.
But implementing that bill would help push the U.S. debt past $37 trillion and is expected to cost $3.4 trillion over the next 10 years.
Thanks to the One Big Beautiful Bill Act, the debt officially passed $37 trillion. pic.twitter.com/x4icodl2q5
— Thomas Massie (@Repthomasmassie) August 13, 2025
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