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The US federal debt has reached a record $37 trillion, adding fuel to calls that rising deficits and potential money supply growth may underpin a Bitcoin rally to $132,000 by year’s end.
“Thanks to the One Big Beautiful Bill Act, the debt just officially passed the $37 trillion mark,” said Representative Thomas Massie in a Wednesday X post.
The US deficit has risen to its latest record high a month after US President Donald Trump signed the One Big Beautiful Bill Act into law on July 4, which he said would cut as much as $1.6 trillion in federal…
