Jamie Coutts Says Debt-Liquidity Gap Is Bitcoin's Next Risk

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Jamie Coutts argued that Bitcoin is underperforming even as March 2026 U.S. M2 reached nearly $22.7 trillion because debt growth and reserve drain are weakening liquidity transmission. He said U.S. public debt was over $38.5 trillion in the fourth quarter of 2025 while reserve balances were about $2.9 trillion in the Fed's Apr. 22 release.
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