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2019-11-18

The world's debt is still growing

Total world debt will reach 255 trillion dollars by the end of 2019 - equivalent to $32,500 for every person on the planet or $12.1 million for Bitcoin (BTC).

Bitcoin data came as a shock to the latest data from the Institute of International Finance, which updated its Global Debt Monitor this month. 

By the end of the year, world debt will have increased by an additional $12 trillion compared to the end of 2018. 

The data are up-to-date, as the US public debt alone amounts to 23 trillion dollars, and the Federal Reserve is not moved by the idea of a further increase in debt.

For Bitcoin supporters, however, the verdict on a fiat economy creating more than $12 million in debt for every Bitcoin that will ever exist was obvious.

Never before has the world's total debt been so high. As Bitcoin continues to gain in importance, efforts to educate consumers about the benefits of hard money - money that no authority or individual entity can manipulate - have increased.