US Will Issue a Record Number of Treasury Bonds This Year: Binance Unveils How It Will Affect Bitcoin Price

According to a new report by Binance Research, the U.S. Treasury is expected to issue more than $31 trillion in Treasury bonds in 2025, a record-high figure that would represent approximately 109% of the country’s GDP and 144% of the U.S. money supply (M2).

The report warns that this unprecedented level of issuance could place significant stress on financial markets, including the crypto sector.

In its analysis titled “Record US Treasury Supply in 2025 – What It Means for Macro and Crypto,” Binance Research notes the scale of the expected issuance, noting that the massive supply, largely driven by refinancing needs, will require close attention from both investors and policymakers.

“Even if market demand for Treasuries remains stable, the sheer volume of issuance poses a structural challenge,” the report said. “The recent easing in risk assets, likely due to optimism about trade talks, does little to offset the persistent pressure this issuance volume is putting on interest rate markets.”

Foreign demand also remains a critical variable. With about a third of U.S. debt held by foreign investors, any dip in appetite due to geopolitical tensions or strategic portfolio shifts could lead to higher yields and higher borrowing costs for the U.S. government.

The implications for risky assets like cryptocurrencies are twofold, the report says. On the one hand, continued upward pressure on interest rates could negatively impact market sentiment and liquidity. On the other hand, if the government resorts to debt monetization (effectively printing money to cover budget deficits), hard assets like Bitcoin could benefit from increased appeal as an inflation hedge.

“This macro dynamic is one to watch closely,” Binance Research said, adding: “If debt monetization becomes a reality, it could strengthen demand for alternative stores of value, particularly in the digital asset space.”

*This is not investment advice.