Elon Musk Supports Coinbase's Warning: Bitcoin May Replace the Dollar

Elon Musk recently expressed support for Coinbase CEO Brian Armstrong's viewpoint. Armstrong warned that if the U.S. cannot control its national debt, which has exceeded $36.9 trillion, Bitcoin may replace the dollar as the global reserve currency.

He pointed out that if Congress does not take action, Bitcoin will become the global reserve currency. Musk retweeted this statement, accompanied by the American flag, indirectly expressing his support. He also criticized the new fiscal spending bill, stating that "Congress is driving the U.S. into bankruptcy."

Currently, Tesla holds 11,509 Bitcoins, SpaceX holds 8,285, and Musk personally owns Bitcoin, Ethereum, and Dogecoin, with Bitcoin being the largest portion.