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According to the Treasury Department, the U.S. federal debt surpassed $38 trillion on January 3, 2026. This latest milestone was reached as some members of the cryptocurrency community celebrated Genesis Day, the anniversary of the primary Bitcoin block. The timing reportedly attracted attention since it highlighted the differences between public borrowing and the fixed supply of Bitcoin.
Debt reaches latest high
According to the Treasury Department, gross federal debt climbed to over $38 trillion as of Jan. 3. The increase has been sharp over the past two years: from about $34 trillion firstly of 2024 to about $36 trillion at the top of 2024 after which to $38.5 trillion at the top of 2025.
Analysts have calculated that debt has been rising by about $6 billion a day recently, a pace that’s driving up interest costs and limiting options for future budgets. Part of the rise is on account of persistent budget deficits where spending exceeds revenue.
On January 3, 2009, the Bitcoin network began mining its first block, often known as the Genesis Block.
Embedded on this block was a headline from @TheTimes newspaper:
“The Chancellor is about to bail out the banks for the second time.”
The news permanently anchors the origin of Bitcoin… pic.twitter.com/hGozJOYd3I
— Bitcoin Policy UK (@bitcoinpolicyuk) January 3, 2026
Driver behind the wave
According to market reports, several aspects are chargeable for the rise: persistent annual deficits, rising interest payments on existing debt and huge spending bills passed in recent sessions of Congress.
The important figure is the debt owed by the general public and the amounts owed to federal trust funds. Economists warn that as debt increases relative to the dimensions of the economy, more taxpayer money can be needed simply to service interest payments, which could crowd out other priorities.
A dashboard showing the US national debt, which is currently over $38 trillion and rising. Source: US Debt Clock
The Bitcoin community responds
On January 3, many Bitcoin supporters celebrated Genesis Day, a date they said was symbolic of monetary change when the primary Bitcoin block was mined in 2009. Some users posted in regards to the contrast between a unbroken rise in national debt and the limited Bitcoin supply of 21 million coins.
BTCUSD is currently trading at $91,487. Chart: TradingView
Others used the anniversary to ask broader questions on budget rules and the cash supply. Reactions were mixed; Some see it as a warning, others as a moment of remembrance.
Investors and commentators have weighed the implications. A portion of the market views scarce assets like Bitcoin and gold as a hedge against the risks they consider include heavy borrowing.
At the identical time, mainstream economists warn that giant and protracted deficits can raise borrowing costs and slow growth in the long term. Treasury officials closely monitor money needs and sometimes change borrowing plans to shut gaps between income and spending.
Featured image from Unsplash, chart from TradingView
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