Elon Musk, known as the founder, CEO, and chief engineer of SpaceX, CEO of Tesla, co-founder of OpenAI, owner of X (formerly Twitter), and contributor to many other ventures, is also renowned for his criticism of government policies. This time, he has expressed deep concern about US government spending, warning that the country could face bankruptcy if measures are not taken to curb expenditures.
Musk cited an anonymous financial source, claiming that the national debt has increased by $500 billion in just the last three weeks. He argued that the current fiscal policies are steering the US toward bankruptcy, and if immediate action is not taken, the situation could become irreversible.

It’s worth noting that the US national debt has been growing at an alarming rate in recent years. At the start of 2024, it had already surpassed $34 trillion, and by August, it reached $35 trillion. Analysts at Bank of America predict that the debt burden will continue to rise, with an average of $1 trillion being added every 100 days. This could further fuel investor interest in bitcoin as an alternative to unstable traditional currencies.

Interestingly, Musk recently met with Nayib Bukele, the president of El Salvador, the first head of state to make bitcoin legal tender in his country. Bukele echoed Musk’s concerns, even suggesting that the days of US economic dominance may be numbered if the American government does not change its financial course.