Opinion: $ 1.6 trillion student loan forfeited in U.S. could lead to Bitcoin surge

Senator Bernie Sanders and Senator Elizabeth Warren of the Democratic Party of the United States have proposed a $ 1.6 trillion student loan forgiveness. On the face of it, the plan will increase spending on youngsters with limited resources and boost economic growth. But many financial experts believe that the risk factors associated with student loan waivers and the constitutionality of such actions could lead to economic disaster. The BeInCrypto article states that such a risky move is likely to cause Bitcoin to soar. Increased federal debt, the collapse of the U.S. dollar, and concerns about contract security will drive investors out of the broader market in favor of non-governmental investments such as Bitcoin. Unlike other investments, Bitcoin is not based on contractual obligations. Instead, Bitcoin's network was built as a "trustless" environment, protecting it from government control. Bitcoin can continue to be protected when the market falls due to government intervention. With this protection, the price of Bitcoin could rise sharply as investors flee to safe-haven assets. Although debt relief programs can hurt the U.S. economy, Bitcoin owners will see a considerable return on investment.