The Coin Rise 2025-05-25 19:30:02

Bitwise CEO Spotlights Elon Musk Warning on Growing US Debt Amid Bitcoin Boost

Elon Musk, one of the richest men in the world, once again sparked debate with a bold warning about America’s growing debt. In a recent X post , the billionaire entrepreneur voiced deep concerns over the country’s financial future. Musk believes the U.S. could face bankruptcy if it does not take urgent steps to grow its productivity and reduce government spending. His remarks have drawn responses from other financial leaders, including Bitwise CEO Hunter Horsley, and sparked fresh interest in Bitcoin. Musk’s Call for Productivity Over Austerity Elon Musk thinks the United States can solve its money problem by increasing productivity. He believes that the economy will grow if people and companies in the U.S. become more productive. This could help the country avoid a financial collapse. Musk’s view also does not support strict spending cuts, also known as austerity. He believes those measures could hurt people and make things worse. Expert Says Inflation Is Reducing the Value of the Dollar Bitwise CEO Hunter Horsley also responded to Musk’s comments. He says the U.S. dollar is losing value because of inflation and warned that it will keep getting weaker if the government does not act. Adding to this concern, the U.S. Dollar Index (DXY), which measures the dollar’s strength against other currencies, has dropped by 10%. This means the dollar is not as strong as it used to be. A weak dollar can make imported goods more expensive and lower confidence in the U.S. economy. Notably, the ongoing trade war caused by Trump’s tariffs also adds to the economic strain. Experts warn that if the dollar continues to fall, more people and businesses might turn to other assets like Bitcoin. While many consider the flagship crypto a haven against inflation and economic turmoil, some are unconvinced about Bitcoin’s value. Australian Senator Gerard Rennick recently called Bitcoin a “Ponzi scheme,” which caused an uproar in the crypto space. Elon Musk Heads DOGE: A Push for Government Efficiency Elon Musk is helping lead a new government group called the Department of Government Efficiency, also known as DOGE. This department was created to stop wasteful government spending and help officials spend public funds wisely. In February, DOGE targeted the U.S. Securities and Exchange Commission (SEC), urging the public to report any evidence of “waste, fraud, and abuse” within the agency. Despite Musk’s broader push to root out inefficiencies in federal agencies, many say the efforts are not strong. Economist Peter Schiff, a staunch Bitcoin critic, says the government’s financial problems are already out of control. He believes a financial crisis has already begun in the United States, and DOGE may not be able to stop it. The post Bitwise CEO Spotlights Elon Musk Warning on Growing US Debt Amid Bitcoin Boost appeared first on TheCoinrise.com .

Наиболее читаемые новости

Trump says “Putin has gone absolutely crazy”...
2025-05-26
Missing the XRP Boom? Why Qubetics ($TICS) St...
2025-05-26
Ethereum Price Finds Its Footing: Bulls Prepa...
2025-05-26
Cardano Nears Major Resistance — MAGACOIN FIN...
2025-05-26
Elon Musk’s X isn’t ready for super app statu...
2025-05-26
XRP Price Prediction For May 26
2025-05-26
TornadoCash Trader Swaps 2.6M DAI for 1,019 E...
2025-05-26
Google’s AI Search could erode Reddit traffic
2025-05-26

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения