US National Debt Tops $38.5T as Bitcoiners Mark Genesis Day
The United States national debt topped $38.5 trillion on Saturday, coinciding with the Bitcoin community’s observance of “Genesis Day,” the anniversary of the first block mined on the Bitcoin network by the pseudonymous creator Satoshi Nakamoto on January 3, 2009. The debt stood at approximately $38,561,900,451,378 at the time of writing, according to the U.S. National Debt Clock.
In response to the rising debt, market analyst James Lavish said, “Lie, cheat, steal, and print relentlessly. It’s the playbook of fiat currency, and it weakens the money until confidence in that currency ultimately fails.”
Nakamoto’s Genesis Block included the newspaper headline “Chancellor on brink of second bailout for banks,” referencing the United Kingdom’s monetary stimulus during the 2008–2009 financial crisis.
“Happy Bitcoin Genesis Block day,” Tether CEO Paolo Ardoino said. Sam Callahan, director of strategy and research at BTC treasury firm OranjeBTC, echoed the sentiment.
Members of the Bitcoin community often cite the embedded headline as emblematic of Bitcoin’s core proposition: resistance to inflation and debasement through decentralization and a fixed maximum supply.
US debt growth and money supply expansion
In 2025, the U.S. government added about $6 billion per day to the national debt on average, totaling $2.2 trillion over the year, according to Congressional data. For comparison, it took more than 200 years for the national debt to exceed $1 trillion, a milestone reached in October 1981, according to the U.S. House of Representatives Budget Committee reports.
The Federal Reserve’s M2 money supply, a proxy for the total amount of U.S. dollars in circulation, continued to rise and reached $22.4 trillion at the time of writing, according to data from the St. Louis Federal Reserve.
Expanding fiat money supply can erode purchasing power by lowering the value of currency relative to finite goods and services. Bitcoin advocates argue the asset addresses this through a fixed supply cap of 21 million and a predictable issuance schedule, which they say can be deflationary over time and support purchasing power relative to goods and services.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
