There are some special reasons for borrowing money especially at the government level. So it could be intentional instead of printing more money. Borrowing money can be used to stabilize interest rate and avoid tax increase which will reduce availability of money in circulation and reduce purchasing power of the people, thereby causing low demand and supply whose aftermath will be low production and low export.
Whereas, printing money will cause inflation. So looking at their effects and what government intends to achieve, they can prefer to borrow.
And current old money elite want to get into crypto not because they want to look cool and innovative but because inside crypto they can get Control more over the world specially trough stablecoins.
How is that possible to control cryptocurrency, even with stablecoins it is only possible for stabilizing price volatility within the crypto ecosystem so that you can know the real value of a coin using stablecoins like usdt,DAi, usdc. So if it is pegged with fiat, that doesn't mean control because it doesn't have inbuilt or inherent ability for controlling the market. Exchanges use it to peg the price of crypto likewise everyone involved in crypto space. Mind you, stablecoins are also cryptocurrency and doesn't have mechanism for outright control by any body or government. It is a hedge and can only be as price control within the ecosystem but not control of finance in the world.