US national debt hits a record $39.4 trillion as deficits approach $2 trillion annually, with stablecoin issuers and Bitcoin increasingly intertwined with

US national debt hits a record $39.4 trillion as deficits approach $2 trillion annually, with stablecoin issuers and Bitcoin increasingly intertwined with

US gross national debt hit $39.01 trillion in May 2026, with a 123% debt-to-GDP ratio fueling Bitcoin hedge narratives and stablecoin Treasury risks.

Foreign holdings of US debt hit $9.2 trillion as private investors replace central banks. Here's why the shift matters for crypto markets and Bitcoin.