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On January 3, 2026, the national debt of the United States quietly passed the $38.5 trillion barrier. At the same time, the Bitcoin community took a moment to remember the 17th anniversary of the network’s Genesis Block. At the time of writing, the US National Debt Clock showed that the milestone debt figure was about $38,561,900,451,378. This shows that fiscal pressures are still high, which is a major reason why Bitcoin supporters see the cryptocurrency as an alternative to fiat systems that are prone to debasement.
Read also: How the markets are changing their minds on scarcity in Bitcoin, gold, and silver in 2026
The fact that these two things happened at the same time—record national debt and the anniversary of Bitcoin’s first block—has brought up old debates about the function of fixed-supply digital assets in a time when money supplies are growing. Bitcoiners say that the message in the Genesis Block—”Chancellor on brink of second bailout for banks”—was a smart criticism of the monetary policies that have led to the current level of debt.
Debt is growing faster because of problems with the budget
In the last few years, the US national debt has expanded quickly. According to the Congressional Budget Office, the government added over $6 billion to the debt per day on average in 2025. This brought the entire debt up by about $2.2 trillion in only one year. This rate is in line with the trend since the pandemic, when annual deficits have consistently been over $1.5 trillion.
In October 1981, the national debt hit $1 trillion for the first time in more than 200 years. In fewer than 45 years, the amount has gone up from $1 trillion to $38.5 trillion. The fastest rise happened after 2020. The debt-to-GDP ratio is now well over 120%, which has sparked more disagreement among economists about how long this level can last.
The M2 money supply from the Federal Reserve, which is a broad estimate of the amount of dollars in circulation, has also gone increased, hitting $22.4 trillion. The rate of M2 growth has slowed down from the huge surge witnessed during the height of pandemic-era stimulus, but it is still going up. This reinforces the claim made by Bitcoin supporters that fiat currencies will confront structural inflationary pressures over time.
Genesis Day: A Reminder of the Philosophy Behind Bitcoin
On January 3, 2009, Satoshi Nakamoto, who is known only by his or her pseudonym, mined Bitcoin’s Genesis Block. The Times newspaper’s headline “Chancellor on brink of second bailout for banks” is hidden in the coinbase transaction of the first block. People in the Bitcoin community have seen the mention of the UK government’s response to the 2008 financial crisis as a purposeful criticism of centralised monetary intervention and a promise of a system that can’t be inflated at will.
Every year, the event is called “Genesis Day,” and well-known people in the space use the day to talk about Bitcoin’s main value proposition again. Paolo Ardoino, the CEO of Tether, wrote “Happy Bitcoin Genesis Block day,” while Sam Callahan, the director of strategy at OranjeBTC, said the same thing. Market analyst James Lavish summed up what most Bitcoin supporters were saying: “Lie, cheat, steal, and print all the time.” It’s the playbook for fiat money, and it makes the money weaker until people lose faith in it.
Bitcoin’s fixed quantity of 21 million coins and its mechanically enforced issuance schedule are very different from currency systems, where central banks can change the amount of money in circulation according on how the economy is doing. Supporters say that this lack of supply maintains buying power over extended periods of time, especially as governments’ debt obligations grow.
Market Sentiment and Big Picture Effects
At the time of writing, Bitcoin was trading at about $94,949, which shows that it hasn’t been doing very well lately. The cryptocurrency has stayed considerably above its 2025 lows, but it hasn’t been able to stay over $100,000 for long. The Crypto Fear & Greed Index has been in the “extreme fear” range for the past few days, with a rating of 23 on Wednesday. This shows that many retail investors are being very careful.
Social media has highlighted the strange coincidence of Bitcoin’s Genesis anniversary and the US’s record debt. People often talk about how Bitcoin’s issuance is predictable compared to the continuing growth of the supply of fiat money. Many people see the debt milestone as proof of Bitcoin’s original idea, while others warn that the overall economy is still changing and that just because the economy is becoming worse doesn’t mean that cryptocurrencies will do better.
Institutional interest in Bitcoin is still growing. Spot ETFs are still getting a lot of money, and corporate treasuries are adding to their holdings. However, retail participation has not been as high as it was during previous cycle peaks, which is why prices are currently moving in a range.
More Important for Monetary Systems
The US debt milestone and Genesis Day celebration both show a basic problem with modern monetary systems. Central banks have to deal with a lot of debt while keeping prices stable. They often use methods that increase the money supply to do this. Bitcoin’s design, on the other hand, takes away the ability to choose when to issue coins, which is appealing to people who are worried about long-term debasement.
There is still disagreement about whether Bitcoin can be a good way to protect against the rise of national debt. Historical evidence indicates that periods of significant debt increase have not consistently resulted in instant outperformance for scarce assets. Still, the philosophical difference between programmable scarcity and expandable fiat money is still a hot topic in the bitcoin world.
The US debt clock keeps going higher, and Bitcoin is now in its eighteenth year. January 3, 2026, is a time to think about what has happened. For many who support Bitcoin, the day underlines the project’s main criticism of fiat systems. It shows policymakers and economists how hard it is to find a balance between fiscal sustainability and economic growth when debt levels are at an all-time high.
