Gold prices briefly hit record high over $3,500/oz on fiscal, tariff concerns
U.Today - The debate over the U.S. budget deficit surpassing $2.5 trillion is not dying down. For the third consecutive day, the issue has dominated markets, media and social channels. The administration’s so-called "big beautiful bill" is under fire not only from politicians but also from figures like Elon Musk and MrBeast.
At the core of the criticism is the historic deficit and its implications for the dollar and, more importantly, Bitcoin.
This week, billionaire investor Mike Novogratz became one of the loudest voices in the room. Pointing to the current $36 trillion national debt, he warned that the total could easily surpass $50 trillion within the next 10 years.
His solution? Buy Bitcoin. He made it clear that, in his view, the only rational move in the face of this debt trajectory is to invest in Bitcoin.
And he is not alone. A growing number of investors and analysts are making the connection: massive deficits mean massive interest payments. This feeds a loop that weakens the dollar year by year.
If spending does not change — and there is no indication that it will — the U.S. could be running a $5 trillion annual deficit within a decade.
This chips away at the dollar’s power. Commodities priced in USD naturally climb. Bitcoin, which currently acts more like a digital commodity than a currency, follows the same logic.
The "crazy" $1 million BTC forecasts start to sound more like a trajectory than speculation. Novogratz is simply giving voice to a growing thesis.