Mark Mason
Well-known member
US Credit Card Debt Passes $1 Trillion, Over 33% Higher Than Cryptocurrency Market Cap
US-based credit card debt has passed the $1 trillion mark, eclipsing the combined value of crypto assets.
According to the US Federal Reserve, in November of last year combined US credit card debt reached a new high of $1.023 trillion. This is up from a previous high of $1.021 trillion reached in in April of 2008, which was immediately before the market bubbles burst that year, kicking off the Great Recession. Meanwhile, the combined cryptocurrency market capitalization ranks in at $750 billion, under three quarters of that number. This means that if every cryptocurrency in existence was forcibly redistributed to every American according to their credit card debt, that would still not be enough to pay off all that debt.
Read more: https://www.dashforcenews.com/us-cr...trillion-33-higher-cryptocurrency-market-cap/
US-based credit card debt has passed the $1 trillion mark, eclipsing the combined value of crypto assets.
According to the US Federal Reserve, in November of last year combined US credit card debt reached a new high of $1.023 trillion. This is up from a previous high of $1.021 trillion reached in in April of 2008, which was immediately before the market bubbles burst that year, kicking off the Great Recession. Meanwhile, the combined cryptocurrency market capitalization ranks in at $750 billion, under three quarters of that number. This means that if every cryptocurrency in existence was forcibly redistributed to every American according to their credit card debt, that would still not be enough to pay off all that debt.
Read more: https://www.dashforcenews.com/us-cr...trillion-33-higher-cryptocurrency-market-cap/