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Bitcoin is stepping into the spotlight ๐ฆ as major figures like Elon Musk and Coinbase CEO Brian Armstrong raise red flags ๐ฉ about the U.S. governmentโs skyrocketing debt โ suggesting BTC could soon become a serious global reserve currency alternative ๐.
On June 3, Brian Armstrong, CEO of Coinbase, voiced concern on X (formerly Twitter) ๐ฆ, highlighting the U.S. national debt, which has surged past $37.5 trillion ๐ฐ, rising sharply from around $24 trillion in 2020 ๐. He was responding to a post from World of Statistics, which shared historical data showing decades of aggressive borrowing since the 1960s.
๐ฅ Armstrong Warns: Bitcoin Could Become the New Global Reserve ๐ฆ
Armstrong cautioned that continued government overspending and lack of action from Congress could erode trust in the U.S. dollar ๐ต as the worldโs dominant reserve currency. He urged voters to hold leaders accountable or face serious consequences. In his words:
> โIf voters donโt demand fiscal responsibility from Congress ๐๏ธ, and steps arenโt taken to reduce the deficit ๐, bitcoin could take over as the global reserve currency ๐.โ
Though a strong supporter of bitcoin, Armstrong also emphasized that a stable and financially healthy United States ๐บ๐ธ is crucial for the world economy:
> โIโm a huge fan of bitcoin ๐ช, but we also need a strong America. Our economic health is essential globally. Letโs fix our finances ๐งพ.โ
This statement reflects a growing concern within the crypto and tech industries: without meaningful change in fiscal policy, the traditional financial system ๐ฆ could lose global trust โ making way for digital assets like BTC to fill the void.
๐บ๐ธ Elon Musk Reacts: โCongress Is Bankrupting Americaโ ๐ฅ
Tesla ๐ and SpaceX ๐ CEO Elon Musk responded by reposting Armstrongโs warning and included an image of the American flag ๐บ๐ธ, signaling his alignment with the message.
In a separate reply to global debt stats, Musk didnโt hold back:
> โCongress is making America go bankrupt ๐งจ.โ
He also criticized a recent spending package โ sarcastically dubbed the "One Big Beautiful Bill ๐" โ calling it wasteful and warning it could push the U.S. deficit to nearly $2.6 trillion ๐งพ, placing a heavy financial burden on American citizens.
๐ Muskโs Crypto Portfolio Proves His Belief in Digital Assets ๐
Though Elon Musk is typically cautious in public remarks about bitcoin, his financial actions speak volumes. On-chain data from Arkham Intelligence reveals:
Tesla owns roughly 12,000 BTC ๐ช
SpaceX holds about 8,900 BTC ๐
Musk personally owns bitcoin (BTC), ethereum (ETH), and dogecoin (DOGE) ๐ถ, with BTC being the largest portion.
These holdings show his strong belief in crypto as both a personal and corporate investment โ reinforcing his indirect support for bitcoin as a hedge against fiat system instability ๐น.
As major tech and finance leaders highlight the risks of uncontrolled debt, bitcoinโs role as a global financial hedge continues to strengthen ๐. With voices like Armstrong and Musk ringing the alarm ๐, the world is watching closely to see if digital currencies will finally challenge fiat dominance.
#Binance #CryptoNews #bitcoin #BTC่ตฐๅฟๅๆ #ElonMusk ๐
