Elon Musk, the world’s richest man, is throwing some serious shade at the US economy. He’s warning that America is on the verge of going bankrupt, comparing the US dollar to the Zimbabwean dollar, which famously collapsed due to hyperinflation.
A Looming Debt Crisis
Musk isn’t pulling punches. He’s pointing out that the US government is spending a whopping 76% of all personal income tax revenue just to pay interest on its massive $35 trillion debt.
Bitcoin Backer
Musk’s comments come as no surprise, considering his long-standing support for Bitcoin. He recently used a profile picture on X (formerly Twitter) featuring “laser eyes,” a trend that emerged in 2022 to show support for the cryptocurrency. He even said his companies, Tesla and SpaceX, are feeling the effects of inflation.
What’s Next?
Musk’s dire warnings have sparked debate about the state of the US economy. It’s unclear what impact his comments will have on the US dollar or Bitcoin, but one thing is for sure: his words have certainly shaken things up.
