As the US debt snowball reaches $38.3 trillion and continues to grow, some are digging up old charts from seventeen years ago. Coincidentally, the current candlestick pattern looks remarkably similar to the 2008 subprime mortgage crisis.

Recently, a tech tycoon openly stated: "The concept of currency is weakening; in the long run, energy is the true ultimate currency." On the same day this statement was made, Bitcoin dropped below $89,000, and nearly 100,000 traders faced liquidations. The dramatic contrast prompts reflection: is history really about to repeat itself?

On September 15, 2008, Lehman Brothers filed for bankruptcy, and $6.13 trillion in liabilities evaporated overnight. At that time, the financial system was like a house of cards, with central banks around the world launching money-printing presses to rescue the markets. Fast forward to 2025, and the situation is even worse. US debt surpasses $38 trillion, which means, on average, each American owes $114,000.

What’s more painful is the interest costs. The US government pays $1.2 trillion annually in debt interest, a figure that exceeds defense and healthcare budgets, becoming the largest black hole in fiscal spending. Meanwhile, the US is expanding its money supply at about $2 trillion per year, like pouring water into a swimming pool while clogging the drain. The debt inflation rate far outpaces economic growth.

The difference this time is that we have new tools. Cryptocurrencies like Bitcoin and Ethereum are gradually gaining recognition from institutions as hedging assets, offering another way to combat currency devaluation. History may not repeat exactly, but the rhymes are already playing out.