Take a look at this number game: the total market capitalization of the global crypto market is about 3 trillion, while the US national debt is as high as 35 trillion. A simple calculation shows that it would take nearly 12 times the entire crypto market to cover this debt. Following this logic, isn't ETH capable of reaching $30,000?

The ideal is grand, but reality is quite stark.

From the perspective of market depth, if one were to use an equivalent amount of BTC or ETH for debt auctioning, the problem immediately becomes apparent—there are no counterpart orders to take the other side. On-chain and off-chain liquidity reserves are far insufficient to absorb such massive selling pressure, and the market would collapse instantly.

Legal constraints are even more rigid. The US Constitution explicitly states that debt must be settled in USD, and the Treasury has no authority to directly accept crypto assets as debt repayment. Even if they did, the assets would need to be converted into USD before being credited to the account. This process alone would trigger market volatility.

Regulatory logic is equally intriguing. Suppose crypto assets are truly designated as national strategic reserves, the government's first reaction would likely be slow accumulation rather than direct dumping to repay debt—because the more they pay back, the bigger the hole becomes.

Finally, the macro reality: nearly one-third of the $35 trillion national debt is held by the Federal Reserve, Social Security Trust, and domestic banks. These institutions have almost zero tolerance for high-volatility assets and simply cannot withstand the severe fluctuations in the crypto market.