Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC) from 2017 to 2019, argues that Bitcoin represents digital gold driven by the Federal Reserve’s monetary tightening and rising U.S. public debt, which has exceeded $40.2 trillion. Higher interest rates make debt servicing increasingly expensive, leading to dollar depreciation and strengthening Bitcoin’s appeal, given its capped supply of 21 million units. Bitcoin’s price has risen over 10.5% since the Fed’s most recent rate increase in September, climbing from under $76,000 to above $84,000. Giancarlo, known as Crypto Dad, greenlit the first Bitcoin futures contracts in December 2017.
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