Gold, Bitcoin Rally: Is US Debt Surge A Key Driver?
A leading Wall Street investment strategist highlighted the exponential increase in the U.S. government debt as the primary cause for the continued rise of assets with finite supplies, such as gold and Bitcoin (CRYPTO: BTC), which appear to be on track to reach their all-time highs. This insight was shared by Michael Hartnett, chief strategist of Bank of America, in his regular weekly note, “The Flow Show.” Hartnett has laid bare a stark reality surrounding the surge in U.S. debt. “The U.S. national debt is rising by $1 trillion every 100 days,” Hartnett wrote. He illustrated how the debt leve…