Elon Musk, Who Called Trump’s ‘One Big Beautiful Bill’ A ‘Disgusting Abomination,’ Responds To Coinbase CEO’s Warning That Bitcoin Could Replace Dollar If Congress Isn’t Held Accountable
From Yahoo Finance: 2025-06-06 14:30:00
Elon Musk agrees with Coinbase CEO Brian Armstrong that government overspending could lead to Bitcoin replacing the dollar as the reserve currency. Armstrong warned that if the deficit isn’t reduced, Bitcoin will take over. Musk, a cryptocurrency supporter, desires a fiscally responsible America, as indicated by a U.S. flag emoji response.
Musk recently criticized a congressional spending bill, calling it a “disgusting abomination.” Despite the White House’s dismissal of his criticism, the House passed the $3.8 trillion package, promising immediate economic boosts, but market analysts warn of long-term fiscal consequences. Entrepreneur Anthony Pompliano believes concerns about debt and inflation could drive Bitcoin’s growth.