Bloomberg "Global debt burden spreading… Demand for Bitcoin, gold, and silver rises"

As fiscal instability in major countries around the world grows, investors are flocking to 'store-of-value assets' such as Bitcoin (BTC), gold, and silver instead of fiat currencies.

On the 6th (local time), Bloomberg reported, "In Japan, Sanae Takaichi, a lawmaker inclined toward fiscal easing, has emerged as a leading candidate for the next prime minister, and the yen's value plunged. The U.S. dollar has been about 30% weaker versus Bitcoin so far this year, and Europe is also seeing euro weakness due to political instability in France."

It added, "Against this backdrop, there is an accumulated debt burden across the U.S., Japan, and Europe. Accordingly, gold and silver have risen to record highs and near-record levels respectively, and Bitcoin traded near record highs over the weekend."

Chris Weston, head of research at Pepperstone Group, told Bloomberg, "Political uncertainty in the U.S., Japan, and Europe is making gold and Bitcoin defensive assets against 'currency value decline (debasement),'" adding, "This is a time when the upward trend is driving sentiment, and the market feels like it has to hop on."