Government debt rising may lead to bitcoin becoming reserve currency, potential opportunities for crypto

From Yahoo Finance: 2025-06-13 05:00:00

Government debt continues to rise, sparking potential opportunities for crypto bulls. Coinbase CEO Brian Armstrong warns of the consequences of deficit spending, suggesting bitcoin could become the reserve currency if US debt isn’t addressed. Companies like GameStop and Strategy are buying bitcoin to diversify cash holdings, with Trump Media & Technology planning to raise $2.5 billion for bitcoin. Stablecoin legislation progresses, Circle’s IPO receives positive reception. Morningstar data shows crypto funds attracted $7 billion in May. Despite this, Coinbase shares are up only 3% year to date, with first quarter sales down 24%. Analysts caution about a challenging transaction environment ahead. JPMorgan analyst rates Coinbase shares as Neutral with a $215 price target.



Read more at Yahoo Finance: Ballooning government debt may make bitcoin the world’s reserve currency