According to Foresight News, Binance Research analysis suggests that the total US Treasury issuance (including refinancing) is expected to exceed $31 trillion in 2025, equivalent to approximately 109% of the country's GDP and 144% of M2, indicating unprecedented financing pressure. About one-third of US Treasury bonds are held by overseas investors, and if they reduce holdings or shift direction, it could potentially drive up financing costs and bond yields.
Binance Research points out that even with stable demand, the supply itself will create structural pressure on the interest rate market. If the government ultimately chooses debt monetization, that is, filling the deficit by "printing money," it may strengthen the position of hard assets like Bitcoin as a hedge against currency depreciation, and recommends closely monitoring related macroeconomic trends.
