The Americans are using BTC to pay off debt.

110,000 BTC may just be the beginning
In the past month, BTC has skyrocketed from 74000 to 111900, with a somewhat frightening increase and speed, even a bit unbelievable. The core issue is not that a bull market has arrived, but that the Americans need to de-leverage.
Let's start with the recent stablecoin bill in the United States, where all cryptocurrency issuances must be 100% pegged to the U.S. dollar or U.S. debt if they are to be recognized by the U.S. as compliant. This means that for every dollar of stablecoin issued by a virtual currency company, it has to use the recovered money to buy U.S. bonds. For example, USDT, the world's largest stablecoin by market capitalization, has an asset size of 150 billion US dollars, and the US bonds held by the issuing company TEDA are as high as 120 billion, and the interest on US bonds has become the income of TEDA. The total volume of global stablecoin transactions reached $28 trillion, of which 83% was denominated in US dollars, or about $23 trillion. In fact, the rescue of U.S. bonds does not require all the 23 trillion yuan to go into U.S. bonds, as long as the interest part of 1.2 trillion yuan is solved, the orderly operation of the asset chain can be guaranteed.
Since last year, this matter has been secretly operated by the United States. For example, BlackRock has publicly traded virtual currencies, Trump has issued Trump coins, and has promoted legislation in various states to incorporate Bitcoin and other virtual currencies into the system. Then they also promoted cryptocurrency, etc. If cryptocurrencies have become completely politicized, with the implementation of virtual currency bills, more institutions will join the ranks of issuance in the future. The issuance amount may exceed one trillion dollars in the next three years, which is equivalent to opening a new channel for the U.S. Treasury to automatically purchase U.S. bonds. By then, the market value of Bitcoin will likely surpass that of gold, and the price of BTC may reach unimaginable heights again!