Bitcoin stronger than the greenback? The billionaire Elon Musk has never hidden his interest in Bitcoin (BTC) and cryptocurrencies. He also has his little personal favorite, the same with smiling shiba Dogecoin (DOGE). Following a shared opinion on X by Brian Armstrong (CEO of Coinbase), the boss of Tesla and Spacex also seems to think that Bitcoin could Replace the US dollar as reserve currency on the international scene.
- Elon Musk expressed his support for the idea that Bitcoin could possibly supplant the US dollar as a global reserve currency.
- The public debt of the United States, in the process of reaching $ 37,000 billion, has aroused concern about the sustainability of the status of the dollar as reserve currency.
Will the USA colossal debt make the dollar lose its reserve currency status?
With a public debt of the United States which will soon reach the $ 37,000 billion according to data From the US Debt Clock site, it is legitimate to worry about the ability of Uncle Sam’s country to reimburse her.
And the budgetary law currently under discussion at the US congress promises to dig this abysmal debt a little more. To the point that Brian Armstrongthe boss of the cryptocurrency exchange platform Cornerbasewonders on x this June 4 if the dollar will be able to stay there for a long time global reserve currency. And the king of cryptos, Bitcoinwould be in ambush to take the place of the greenback.
« If the electorate does not ask the congress to account for the reduction of the deficit and does not start to repay the debt, Bitcoin will supplant [le dollar] as reserve currency.
I love Bitcoin, but a strong America is also essential for the world. We must master our finances. »»
Elon Musk agrees with the boss of Coinbase on the future role of Bitcoin
As we said in the introduction, Elon Musk seems to approve the words of Brian Armstrong. Indeed, the billionaire has rest the above publication, after having replied of an emoticon of American flag.
The boss of Tesla himself criticized his country’s financial management himself. In a message posted the day before (June 3) on xElon Musk is concerned that the bill under discussion « Go massively increase budget deficit already gigantic to $ 2,500 billion ». And that it will generate « a overwhelming and unbearable debt For American citizens.
If even the richest begin to worry about the abyssal debt of the United States, it is that it is really time to sound the alarm. Because Brian Armstrong and Elon Musk are not the only ones to think that the BTC could supplant the USD on the international scene. Indeed, the boss of the gigantic asset manager Blackrock,, Larry Fink, also thinks that replacing the dollar as a world reserve currency.