The debt for many countries around the world is becoming a much more serious issue than it was before. Therefore, alternative forms of currency are becoming very popular. The fact that bitcoin is not impacted by the regular banking system makes it appealing to many people who are living in countries that have struggling economies. Global debt is now more than $250 trillion. It has never been this high before. Because the supply of bitcoin is mathematically limited, it could provide many countries an ability to store value that other forms of currency are not able to do. However, this will depend largely on the various ways in which countries decide to use bitcoin.
It is not known at this time if the governments of any countries are planning on investing heavily in bitcoin. However, there are certainly many countries that have shown interest in cryptocurrency and blockchain technology. The economy of the world is spiraling out of control. Some changes will need to be made. Otherwise, the global debt crisis will become even worse than it is right now. There are many experts in the financial world who firmly believe that bitcoin is the solution to the problem.
One of the biggest stumbling blocks that bitcoin has to overcome is the fact that certain countries are nervous about the way that it could be used to avoid paying taxes. There are numerous criminal implications for bitcoin that have made countries stay away from it. However, the massive amount of debt in countries around the world might make certain countries reconsider their stance. Debt is getting worse every day. Smaller countries that do not have large GDPs are the ones that are going to be hit the hardest. These small countries might be the first ones to start exploring investing their assets into bitcoin if things do not improve soon.
It has been a very popular belief that bitcoin is the future of global currency. That still might be the case. Cryptocurrency is becoming more mainstream. It has been touted by Twitter CEO Jack Dorsey and other very powerful and influential people. It remains to be seen how this will impact the various governments of the world and their willingness to adopt bitcoin to alleviate their debt. In some cases, world leaders might not know much about what bitcoin is. These people will need to be educated by the people around them.
