Tesla and SpaceX CEO Elon Musk signaled agreement with Coinbase CEO Brian Armstrong‘s warning Wednesday that government overspending could lead to Bitcoin (CRYPTO: BTC) replacing the dollar as the reserve currency.
What happened: Armstrong was responding to a post by World of Statistics that highlighted the alarming rise of U.S. federal debt in the last few years. The debt has ballooned to $36.9 trillion in 2025.
“If the electorate doesn’t hold Congress accountable to reducing the deficit and start paying down the debt, Bitcoin is going to take over as reserve currency,” Armstrong said.