Huo Xing Cai Jing reports, according to Cryptopolitan, Robbie Mitchnick, Head of Digital Assets at BlackRock, stated that Bitcoin’s recent rally is closely tied to the United States’ $40 trillion debt issue. The U.S. federal debt surpassed $40 trillion on August 18, doubling since 2017, with interest payments nearing $1 trillion, accounting for over 14% of total federal spending. Mitchnick noted that debt and deficit levels are major market concerns, driving investors to view Bitcoin and gold as hedging tools. Bitcoin posted its strongest three-day gain since 2023 last week and is currently trading below $80,000. Mitchnick also added that the CLARITY Act has less impact on Bitcoin than on other crypto sectors, as Bitcoin has already gained broad regulatory recognition.
BlackRock: Bitcoin's Recent Rally Linked to the $40 Trillion U.S. Debt Issue
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Summary
Bitcoin news: BlackRock’s Robbie Mitchnick connected Bitcoin’s recent rally to the U.S. federal debt reaching $40 trillion on August 18, 2026. Debt has doubled since 2017, with interest payments nearing $1 trillion. Investors are turning to Bitcoin and gold as hedges. Bitcoin surged sharply last week, trading below $80,000. Mitchnick noted that the CLARITY Act impacts altcoins more than Bitcoin, which already enjoys regulatory clarity.
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