The United States’ national debt is spiraling toward a staggering $38 trillion — rising at an unprecedented pace of roughly $6 billion every day — prompting investors to increasingly turn to assets like Bitcoin and gold as safe havens against the weakening dollar.

According to the U.S. Congress Joint Economic Committee’s debt dashboard, the national debt has ballooned by nearly $69,890 per second over the past year, translating to about $4.2 million per minute. In less than three weeks, the debt figure is expected to surpass $38 trillion, marking one of the fastest increases in U.S. fiscal history.

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Representative Keith Self warned that the debt is on track to hit $50 trillion within the next decade if spending remains unchecked. “Congress must act now — demand fiscal responsibility from your leaders before the gradual slide becomes a sudden collapse,” Self said on Friday.

The sheer pace of the debt expansion means that the U.S. is now adding more to its balance sheet daily than the annual GDP of several smaller nations combined.

Change in America’s national debt over the last 12 months, measured in certain time intervals. Source: US Congress Joint Economic Committee

Investors turn to Bitcoin and gold as the dollar weakens

With concerns over mounting U.S. debt and a depreciating dollar, investors have been shifting capital into alternative assets — particularly Bitcoin (BTC) and gold.

JPMorgan recently described this trend as the “debasement trade”, citing fears of long-term currency erosion. Both assets hit new highs last weekend — Bitcoin surged to $125,506, while gold reached $3,920, setting fresh records for 2025.

Bitcoin’s finite 21 million supply and decentralized design continue to make it a preferred hedge against monetary expansion. Even traditional finance leaders, including BlackRock CEO Larry Fink, have reversed their earlier skepticism. Fink predicted earlier this year that Bitcoin could climb to $700,000 as global faith in fiat currencies diminishes.

Legendary investor Ray Dalio, founder of Bridgewater Associates, similarly recommended allocating up to 15% of investment portfolios to hard assets like Bitcoin and gold, citing them as crucial for balancing risk and reward in an era of global debt dependency.

Global debt surges to $337.7 trillion

The U.S. isn’t alone in its fiscal struggle. According to the Institute of International Finance (IIF), total global debt reached a record $337.7 trillion by mid-2025, driven by ongoing quantitative easing, rising deficits, and a softer U.S. dollar.

Dalio warned that other Western nations — including the United Kingdom — face similar “debt doom loops,” where high borrowing costs and monetary expansion fuel unsustainable obligations. “Currencies in these economies will continue to underperform relative to Bitcoin and gold, which serve as effective diversifiers,” he said.

Trump’s $1.6 trillion cost-cutting plan

The Trump administration has cited federal spending cuts and deficit reduction as key policy priorities. Earlier this year, the administration enlisted Tesla CEO Elon Musk to lead the Department of Government Efficiency, reportedly saving $214 billion in federal spending during his 130-day tenure.

In July, President Donald Trump signed the “Big Beautiful Bill Act”, a sweeping reform package aimed at reducing more than $1.6 trillion in projected federal expenditures. However, implementing the bill — coupled with legacy spending — ironically pushed total U.S. debt above $37 trillion and could add another $3.4 trillion to deficits over the next decade.