US National Debt Now Worth Bitcoin Thousands Of Times Over

The US national debt is several times greater than the value of all physical cash, and thousands of times the value of Bitcoin.
Standing at around $19.5 trillion, the debt accrued by the US federal government amounts to significantly more than the combined value of all the world’s physical cash, gold, silver, and cryptocurrency. Those four combined barely cover two-thirds of the US national debt, leaving the daunting task of debt reduction.
Bitcoin is still a small player in the global financial world
Besides the staggering level of US debt, what this fact reveals is how new and minor a player Bitcoin still is in the global economy. The leading cryptocurrency is worth a fraction of a percent of all physical cash in existence, and at present has a 24-hour transaction volume of about $50 million. By comparison, in 2010, Visa processed daily transactions worth over 100 times that.

This post was published at Coin Telegraph on 2016-09-19.