Armstrong Proposes Bitcoin to Tackle $39T US Debt as BTC Trades at $63,957

On July 12, Coinbase CEO Brian Armstrong proposed Bitcoin as a hard-backed currency to address America’s $39 trillion national debt, reinforcing cautious bullish sentiment. The idea follows Grant Cardone’s July 10 disclosure that his real estate fund holds $105 million in Bitcoin yet receives no lending credit, and Metaplanet’s July 11 announcement of a tokenized, bitcoin-backed 24/7 credit product with JPYC and Progmat. Prediction markets now show 84% support for Bitcoin reaching $65,000 this month, while the token trades near $63,957. The developments highlight growing institutional efforts to financialize corporate bitcoin treasuries amid regulatory and custody hurdles.