Recently, asset management company VanEck has predicted that the United States can reduce its national debt by 36% by 2050 using a strategic Bitcoin reserve. This prediction aligns with the Bitcoin Act introduced by Senator Cynthia Lummis, requiring the U.S. to accumulate 1 million bitcoins within five years. Lummis believes such a reserve can free future generations from debts they did not create or benefit from, providing a better financial future for them. VanEck’s recent analysis also supports this strategy, forecasting that such an investment can reduce national debts by $42 trillion by 2049. The prediction is based on a 5% fixed growth rate for debts and a 25% annual increase rate for Bitcoin. In this scenario, the price of Bitcoin is expected to exceed $42 million by 2049, becoming a significant asset in the global financial arena. Matthew Sigel, the head of research at VanEck, has emphasized Bitcoin’s potential to change the global financial landscape. He believes Bitcoin can become a leading currency for global settlements, replacing the U.S. dollar, especially for countries seeking to circumvent U.S. sanctions. However, this proposal is also met with skepticism. For instance, Bitcoin critic Peter Schiff recently suggested creating a new digital currency called USAcoin. Schiff stated: ‘The United States can save a lot of money by creating USAcoin. Like Bitcoin, the supply of this currency can be limited to 21 million units, but with an updated blockchain that truly makes it acceptable for payments.’ You can track the real-time prices of all tokens and cryptocurrencies on the Coinmarketpage.
