Elon Musk has broken his silence and issued a dire warning about the US dollar and the US national debt. He believes that Bitcoin has “some value” and has expressed a particular fondness for Doge Coin. Musk warned that the US dollar is headed for “destruction” due to the ever-increasing $35 trillion debt, which could lead to the US bankruptcy.

Tesla CEO Elon Musk added $1.5 billion worth of Bitcoin to Tesla’s balance sheet in 2021, causing Bitcoin prices to surge and boosting the cryptocurrency market. However, Tesla later backed off on its plans to accept Bitcoin payments and sold most of its Bitcoin in 2022, leading to a sharp drop in Bitcoin prices. Currently, Tesla still holds nearly 10,000 Bitcoins on its balance sheet, worth nearly $650 million.

Musk also hinted that his Twitter platform (now rebranded as X) would be rolling out a series of upgrades, which some Bitcoin and cryptocurrency traders believe could be market-changing.

Source: Forbes, Cryptoglobe