[Elon Musk Warns U.S. Debt Crisis Could Drive Bitcoin Price Volatility]
Elon Musk has warned that the United States is rapidly heading toward a debt crisis that could trigger significant volatility in Bitcoin prices. In an interview with Nikhil Kamath, he stated that in the future, 'money as a concept will cease to exist,' and energy will become the only 'real currency.'
Musk pointed out that the U.S. has significantly increased the money supply through approximately $2 trillion in fiscal deficits. He predicted that within three years, advancements in artificial intelligence will cause the growth rate of goods and services output to surpass inflation levels, potentially leading to deflation, zero interest rates, and a resolution of debt issues.
Although Musk's support for cryptocurrencies has decreased compared to the pandemic period, he continues to back Bitcoin and Dogecoin while criticizing the U.S. dollar and other non-asset-backed currencies as 'hopeless.' The U.S. debt has now exceeded $38 trillion.