Elon Musk Supports Coinbase Warning: Bitcoin Could Replace the US Dollar

Elon Musk expressed his support for Coinbase CEO Brian Armstrong, who warned that Bitcoin could replace the US dollar if America fails to control its soaring national debt, which now exceeds $36.9 trillion.

Armstrong stated that if Congress does not take action, Bitcoin will become the global reserve currency. Musk re-shared the comment with an image of the American flag, expressing his agreement. He also criticized the recent spending bill, saying: "Congress is bankrupting America."

Tesla currently owns 11,509 Bitcoins, SpaceX owns 8,285 Bitcoins, and Musk personally holds Bitcoin, Ethereum, and Dogecoin - with Bitcoin making up the majority.