Bitcoin (BTC) has continued to occupy center stage, drawing varied reactions from different financial pundits. One of these voices is billionaire investor Mike Novogratz, who has yet again reiterated his support for the top cryptocurrency despite the unsettling dynamics in the United States economy. The Growing Concern: Skyrocketing Interest Payments The US is currently experiencing an unprecedented increase in debts as its interest payments reach $970 billion. This figure represents a leap of $41 billion in the second quarter alone. Observers anticipate that the rising trajectory could soon see the country’s debts surge resulting in the interest payments hitting the $1 trillion milestone, which has set off alarm bells in financial circles. Related Reading: Bitcoin Retreat Below $30,000: A Threat To Crypto’s 2023 Dominance Over Stocks? To clarify, interest payments are the actual payments that the borrower makes to the lender, typically on a regular schedule, to repay the interest on a loan or debt. The amount of each payment is determined by the interest rate and the terms of the loan. As such, the sustained upsurge of inte ..
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