Could Musk spend $100 billion on Bitcoin in two weeks, breaking the dominance of the dollar?
Imagine this: Elon Musk, a tech giant, may spend a staggering $100 billion on Bitcoin in just two weeks, completely altering the global financial landscape. Compound founder Robert Leshner bluntly predicts that Musk's move will have a huge impact on the dollar, potentially even "suppressing" its dominant status. This bold prediction has sparked widespread attention and discussion in the market.
In recent years, Musk has fiercely criticized the fiscal policies of the U.S. government, particularly targeting the tax bill passed by the House of Representatives. He pointed out that this bill could lead to trillions of dollars in fiscal deficits over the next decade, further diminishing the purchasing power of the dollar. Against this backdrop, Musk may be seeking alternatives for his own capital safety—Bitcoin, clearly, is the target he has in mind.
Adam Back, CEO of Blockstream, also believes that Bitcoin aligns closely with Musk's business strategy, especially in the context of his opposition to the dollar. Back thinks that Musk's investment in Bitcoin will help him avoid the growing risks associated with fiat currency. However, Back also calmly reminds that while Bitcoin is an attractive option for Musk, his current Bitcoin holdings still seem relatively insignificant compared to his enormous assets, making the allocation to Bitcoin still quite low.
But this is just the beginning. If Musk indeed starts buying Bitcoin wildly, as Leshner predicts, the future of Bitcoin will be completely rewritten. As this possibility draws closer, we may be standing at the dawn of a new financial era.
