The global debt has reached the astronomic amount of USD 243 trillion. And now the stock market is becoming gloomier. Against this background, some investors and financial specialists are turning their focus to Bitcoin and speculating about the causes of the renewed interest in the cryptocurrency.
Is Mounting Debt Causing “Pessimism about stocks and Spiking Bitcoin fever?”
Global debt has increased over 50 percent since the last financial debacle of 10 years ago. According to the Institute of International Finance (IIF), although the global debt slowed sharply in 2018, the global debt has now accumulated “a global debt mountain” of $243 trillion USD.
Global Debt Monitor: “Only” $3.3 trillion was added to the global #debt mountain last year, bringing the total at over $243 trillion. pic.twitter.com/8xe4r7WuJp
— IIF (@IIF) April 2, 2019
In its report of April 2, 2019, the FII details how each sector has contributed to the global debt in the table below:
In parallel, bitcoin price has recently led a spectacular…