As the U.S. national debt nears a staggering $37 trillion, major voices in the crypto industry are sounding the alarm. Coinbase CEO Brian Armstrong has issued a stark warning: If Congress doesn’t act soon, the U.S. dollar could lose its global reserve currency status — and Bitcoin might take its place.
Armstrong: “I love Bitcoin, but America must survive.”
Coinbase CEO Brian Armstrong emphasized the importance of financial responsibility, noting that while Bitcoin offers a compelling alternative, economic stability in the U.S. remains crucial for global markets.
His comments come at a time when new fiscal legislation has been introduced, aiming to extend tax incentives and increase defense spending, while proposing adjustments to certain federal support programs.
Nobel laureates and Elon Musk issue strong warnings
Criticism is mounting from every direction. Six Nobel Prize-winning economists, including Paul Krugman and Joseph Stiglitz, warned in a June letter that the legislation could add over $3 trillion to the national debt and further widen economic inequality.
Elon Musk didn’t hold back, calling the bill:
“A massive, scandalous, pork-filled Congressional spending proposal” and “a disgusting abomination.”
More importantly, critics say the bill could undermine global confidence in the U.S. dollar and accelerate the ongoing de-dollarization of the global economy.
States like New Hampshire and Arizona are stockpiling Bitcoin
Amid fiscal chaos, some U.S. states are taking matters into their own hands. Keith Ammon, a representative from New Hampshire, explained:
“States aren’t just competing with each other anymore — they’re competing with the federal government, which will be forced to print money to handle its debt.”
He argued that Bitcoin could help shield state finances from further erosion caused by inflation and dollar devaluation.
Bitcoin as a digital defense against systemic collapse
Crypto advocates are reminding the world why Bitcoin was created in the first place — as a response to the loss of trust in the financial system after 2008. According to Kadan Stadelmann, CTO of Komodo:
“No one in the U.S. is facing reality. That’s where Bitcoin comes in. It’s the very reason it was created.”
He described fiat currencies like the dollar as debt-driven and inflationary, whereas Bitcoin offers fixed supply and long-term value preservation. He called it “a safe haven in a collapsing inflationary system.”
Are we witnessing the end of the dollar as we know it?
Analysts warn that the exploding debt, reckless spending, and global monetary shifts may lead to a collapse in trust toward fiat currencies. That could trigger a massive capital shift into Bitcoin, driving up its value and reducing availability due to limited supply.
“If a debt spiral hits, people will flock to Bitcoin — and supply won’t keep up,” Stadelmann noted.
Summary:
🔹 U.S. debt has reached $37 trillion
🔹 Coinbase warns Bitcoin could replace the dollar as reserve currency
🔹 U.S. states like New Hampshire are buying BTC as a hedge
🔹 Nobel economists and Elon Musk blast Trump-backed legislation
🔹 Bitcoin’s fixed supply and decentralized nature continue to attract attention in times of fiscal uncertainty
#bitcoin , #coinbase , #BTC , #brianarmstrong , #ElonMusk
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