The world's richest man warns that the United States is about to become insolvent.
Tesla CEO Elon Musk posted an image on social media site X showing the US dollar turning into the Zimbabwean dollar, a currency that has suffered rapid devaluation due to excessive money printing.
Before the currency collapse in 2009, the country's central bank issued $100 trillion worth of banknotes and the price of a loaf of bread reached $300 billion.
Musk says:
"You may ask, where are we with the destruction of the value of the dollar?"
Elon Musk's extreme pessimism about the US dollar came to light after he retweeted a story that the US government is using 76% of all income taxes collected just to pay off interest on its nearly $35 trillion in debt.
“By the way, America is going bankrupt.”
Musk also recently used an X profile photo adorned with laser eyes, a trend that began in 2022, to show support for Bitcoin (BTC).
The billionaire has long been an ardent supporter of Bitcoin. The data shows that Tesla currently owns 9,720 BTC, worth over $640 million.
In 2022, Musk stated that his tech companies were feeling the effects of inflation.
“Tesla and SpaceX have been facing significant inflationary pressures on raw materials and logistics lately.”
Yesterday Musk deleted a photo of laser eyes.
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