Gemini Co-founder: "US $39 Trillion Debt, a Bitcoin Buy Signal"

▲ Bitcoin (BTC), Dollar (USD)

Cameron Winklevoss, co-founder of Gemini, cited the surge in U.S. national debt as a reason to buy Bitcoin (BTC). With the U.S. national debt exceeding $39 trillion, Winklevoss re-emphasized Bitcoin's long-term investment appeal.

CryptoBasic reported on May 23 (local time) that Winklevoss stated on X (formerly Twitter) that there are "39 trillion reasons to buy Bitcoin." This remark directly targeted the U.S. national debt, which currently stands at approximately $39.22 trillion.

Winklevoss believes that the growing U.S. debt burden strengthens the long-term investment thesis for Bitcoin. He has previously encouraged Bitcoin purchases during periods of major market corrections or increased economic uncertainty. According to the article, Cameron and Tyler Winklevoss have promoted Bitcoin as a hedge against economic uncertainty and rising national debt.

The two have described Bitcoin as modern-day gold, or "Gold 2.0." Based on Bitcoin's fixed supply of 21 million BTC, they have argued that if Bitcoin challenges the role of gold as a traditional store of value, its price could reach $1 million.

Last year, when Bitcoin fell below $90,000, Winklevoss told his over 700,000 X followers that it was the last buying opportunity before a rebound. Furthermore, the Winklevoss brothers supported pro-Bitcoin political candidates during the 2024 U.S. presidential election and donated Bitcoin worth $21 million to a political action committee supporting Donald Trump's re-election campaign.

According to the article, Winklevoss's remarks align with the broader concerns about U.S. national debt spreading across the cryptocurrency industry. The industry believes that increasing government debt, persistent fiscal deficits, and inflationary pressures weaken the purchasing power of fiat currencies. Jim Cramer also mentioned last year, when the U.S. national debt grew to $37.63 trillion, that Americans should consider buying cryptocurrencies like Bitcoin. At the time, New York's national debt clock displayed the burden per U.S. household as approximately $955,708.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*