Is the world in recession again? U.S. Treasury bonds are worth 100,000 times more than Bitcoin

The U.S. National Debt is several times greater than the value of all physical cash, and a hundred thousand times more valuable than Bitcoin.

The accumulated debt of the U.S. federal government is approximately $19.5 trillion, significantly more than the combined value of all the physical cash in the world, such as gold, silver, and cryptocurrency . These four together cover almost two-thirds of the U.S. national debt, leaving a daunting task of reducing the debt.

Bitcoin is still a minor player in the global financial world

Aside from the staggering level of U.S. debt, the fact remains that Bitcoin, the newest little player in the global economy, is still a force to be reckoned with. The leading cryptocurrency is worth a few tenths of all physical cash in existence and currently has a 24- hour trading volume of about $ 50 million . By comparison, in 2010 , Visa processed more than 100 times that amount in terms of total daily transaction value .

If Bitcoin’s current role in the global economy is small, that of other cryptocurrencies is even more minuscule. And in the general upward trend, alternative cryptocurrencies combined make up barely 20 % of the category’s market cap. Ethereum, the second-place cryptocurrency , comes in at just around 11 %, Bitcoin ’s combined value, less than half the volume, while the next top 13 cryptocurrencies combined make up almost as much as Ethereum.

Why the U.S. may soon enter another recession

To make matters worse, in addition to the growing national debt, the U.S. may soon see growing signs of a recession. Several key indicators, including stagnant sales in farm machinery and transportation, suggest a recession may be just around the corner.

Globally, some of the world's major economic players have called on governments to help save their economies. The European Union in particular could be heading for dissolution, according to Germany's vice-chancellor, judging by the outcome of Brexit.