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A deficit of 1.9 trillion is right here. The purchasing power of fiat money is visibly diluted—Bitcoin’s long-term logic as a non-sovereign hard currency hasn’t changed. A 50% drop is actually delivering coins to those who believe in the fundamentals.
Although Bitcoin is still about 50% below its all-time high, Miller believes its fundamentals remain solid. As the Congressional Budget Office (CBO) projects a $1.9 trillion deficit, Miller pointed out that Bitcoin remains a long-term hedge against currency devaluation, inflation, and the growing debt spiral.