Venture capitalist and entrepreneur Balaji Srinivasan said US government debt and government spending continue to rise. Every day, he said, the federal government spends $10 billion more than it takes in, and that number is increasing.
According to the entrepreneur, as they approach the financial reckoning for thoughtless budget policies, officials may consider confiscating private assets from the population. As an example, Srinivasan pointed to the seizure of property from truck drivers in Canada and the “freezing” of assets in the Russian Federation.
To reduce the size of the national debt and government expenses, Srinivasan suggests using bitcoins, which the authorities cannot print or quickly take away. The venture capitalist emphasized that Bitcoin does not depend on the state, and can save from failed budgeting in the United States.
Previously, Srinivasan said that Bitcoin challenges the model of centralized states seeking to control financial flows.
Source: Bits
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