Reuters: Worsening U.S. debt outlook more reflected in gold and Bitcoin

Market observers say that while the U.S. Treasury market has remained relatively optimistic about the country's fiscal path so far, the recent surge in gold and Bitcoin prices is partly due to concerns about the rapid rise in U.S. government debt. The uncontrolled growth of U.S. government debt is attracting increasing attention as interest payments also take up a larger share of the government budget. This deteriorating trajectory has boosted demand for Bitcoin and gold, which are often used as a hedge against the risk of inflation and a depreciation in the purchasing power of the dollar. (Reuters)