On Saturday, the United States National Debt soared beyond $38.5 trillion, coinciding with Bitcoiners’ celebration of “Genesis Day,” marking the day Satoshi Nakamoto, the anonymous creator of Bitcoin (BTC), mined the first block on the Bitcoin network.
As of this writing, US government debt stands at approximately $38,561,900,451,378, according to the US National Debt Clock.
Market analyst James Lavish stated, “Lie, cheat, steal, and print incessantly. This is the fiat currency playbook, which ultimately undermines confidence in that currency.”
Satoshi Nakamoto mined the Bitcoin Genesis Block on January 3, 2009, featuring a newspaper headline that read “Chancellor on brink of second bailout for banks,” highlighting the UK government’s monetary response to the 2008-2009 financial crisis.
“Happy Bitcoin Genesis Block day,” remarked Paolo Ardoino, CEO of stablecoin issuer Tether, while Sam Callahan, the director of strategy and research at BTC treasury firm OranjeBTC, shared similar sentiments.
The Bitcoin community frequently highlights the Genesis Block’s embedded headline as a testament to the core value proposition of Bitcoin: a form of money that resists inflation or debasement through decentralization and a capped maximum supply.
Related: Bitcoin aids USD’s reserve status ‘in a peculiar way’: Coinbase CEO
US Debt Escalates Unchecked, Fueled by Fiat Currency Inflation
According to Congressional data, in 2025 the US government was accumulating an average of about $6 billion daily in national debt, amounting to $2.2 trillion added to the total debt in just one year.
To put this into perspective, it took over 200 years for the US national debt to surpass $1 trillion, a milestone reached in October 1981, as noted by the US House of Representatives Budget Committee here.
The Federal Reserve’s M2 money supply, used as an indicator of the total US dollars in circulation, continues to grow, currently at $22.4 trillion, according to data from the St. Louis Federal Reserve.
The inflation of the fiat money supply diminishes its value by undermining purchasing power and decreasing its price in relation to finite goods and services.
Proponents of Bitcoin argue that it addresses this issue by maintaining a fixed maximum supply of 21 million, produced at a consistent rate, which makes it deflationary over time and enhances purchasing power relative to goods and services.
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