**Elon Musk Echoes Coinbase CEO’s Alert: Bitcoin Could Eclipse U.S. Dollar Amid Fiscal Concerns**

Bitcoin is gaining traction as a potential reserve currency contender, with Coinbase CEO Brian Armstrong and Elon Musk raising alarms about the escalating U.S. national debt, now exceeding $36.9 trillion. Armstrong’s comments, posted on X on June 3, 2025, responded to a viral World of Statistics chart illustrating the federal debt’s steep rise from $23.2 trillion in 2019 to a projected $36.9 trillion this year. This relentless borrowing trend has sparked intense debate about U.S. fiscal policy and its global implications.

Armstrong warned that without congressional action to curb deficits and reduce debt, the U.S. dollar’s dominance could falter, paving the way for bitcoin to emerge as a reserve currency. He stated, “If voters don’t demand fiscal responsibility from Congress, bitcoin might step in as the world’s reserve currency.” While expressing support for bitcoin, he added, “A strong America is vital for global stability—we must rein in our finances.”

Elon Musk, Tesla and SpaceX CEO, amplified Armstrong’s concern by reposting it on X, adding an American flag image to signal agreement. Musk also criticized Congress, stating, “Congress is bankrupting America,” and slammed the “One Big Beautiful Bill” spending package, warning it could push the federal deficit to $2.5 trillion, burdening citizens with unsustainable debt.

Though Musk rarely comments on bitcoin publicly, his actions speak volumes. Arkham Intelligence data reveals Tesla holds 11,509 BTC and SpaceX owns 8,285 BTC. Musk has also confirmed personal holdings in bitcoin (BTC), ether (ETH), and dogecoin (DOGE), with BTC being the largest share, underscoring his deep ties to the crypto space.

As U.S. debt concerns mount, bitcoin’s role as a hedge against fiscal instability gains momentum, backed by influential voices like Musk and Armstrong. #Binance #wendy #BTC $BTC #ElonMuskTalks #MyCOSTrade #TrumpVsMusk