Elon Musk Claims to Believe That Bitcoin Could Replace the Dollar as Global Reserve Currency

Bitcoin surged in the last year, driven by Wall Street's adoption of cryptocurrencies and support from American President Donald Trump, despite criticisms from various market players.

Now, with the frenzy of meme stocks from the COVID era shifting to Bitcoin, Tesla billionaire Elon Musk has once again criticized the uncontrolled spending of the United States government, supporting a warning that the cryptocurrency could "take the place" of the US dollar as the global reserve currency.