The fiscal dominance paradox guarantees sovereign currency debasement: • Hike rates ➔ Exploding debt interest injects $1T+ in backdoor fiscal stimulus. • Cut rates ➔ Easier financial conditions accelerate credit expansion. Both paths expand the fiat denominator. The implications for Bitcoin: • Cyclical noise: Hawkish posturing will still spark temporary liquidity squeezes and sharp leverage flushes. • Structural repricing: BTC decouples from high-beta tech risk and reprices as the primary ledger against sovereign balance sheet expansion. Bitcoin's upside isn't just about ETF inflows or adoption metrics anymore. It’s the mathematical clearinghouse for sovereign debt saturation.