Mounting evidence is fueling bitcoiners’ belief that Elon Musk could be turning full-blown maximalist, as his moves increasingly align with BTC’s hard-money ethos.
Bitcoin Narrative Strengthens: Elon Musk Backs Brian Armstrong in Warning on US Dollar Decline
Tesla and Spacex chief executive Elon Musk gave fresh weight to speculation about a pro-bitcoin shift through two new signals this week: his public remarks on U.S. debt and his interaction with Coinbase CEO Brian Armstrong, who warned that bitcoin could replace the U.S. dollar as the global reserve currency.
Musk cautioned on social media platform X on Wednesday that interest payments now consume 25% of federal revenue. He projected that continued unchecked deficit spending could eventually prevent the federal government from funding essential programs such as social security, medical care, and defense. His remarks aligned with concerns long expressed by bitcoin advocates, who view such fiscal policies as justification for a fixed-supply monetary alternative.
The billionaire entrepreneur’s comments triggered reactions across the bitcoin community, with prominent voices suggesting a potential pivot in Musk’s outlook. Max Keiser, senior advisor to El Salvador’s pro-bitcoin administration.