The post Bitcoin will take over as reserve currency, claims Coinbase CEO appeared on BitcoinEthereumNews.com.

Elon Musk warned that the government’s spending bill would bankrupt Americans and add $2.5 trillion in fiscal debt.  Arthur Hayes, Brian Armstrong, and Robert Kiyosaki expected a BTC boom amid the U.S. fiscal crisis.  The U.S. fiscal deficit debate resurfaced after Elon Musk slammed the government’s spending bill that would add $2.5 trillion to the debt burden in the next ten years.   Musk decried that the bill would bankrupt Americans, reigniting calls for Bitcoin [BTC] as an alternative hedge. Musk went on and added,  “It will massively increase the already gigantic budget deficit to $2.5 trillion and burden America citizens with crushingly unsustainable debt.” U.S. public debt has soared to $36.9 trillion, and analysts have been cautioning of a potential devaluation of the U.S. dollar and inflation. In fact, Coinbase founder, Brian Armstrong, warned that the fiscal debt burden may tip BTC to become the world’s reserve currency.  “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.” All roads lead to Bitcoin Early in the year, BlackRock’s Larry Fink made a similar statement,  “If the U.S. doesn’t get its debt under control, if deficits keep ballooning, America risks losing that position (world reserve currency) to digital assets like Bitcoin.” Simply put, BTC, a fixed-supply asset with only 21 million coins and a deflationary issuance rate, could be the biggest beneficiary as U.S. fiscal woes worsen.  For his part, Arthur Hayes, founder of BitMEX exchange, noted that the government will always spend more, urging users to buy BTC.  “Just buy $BTC cause we know a growing complex adaptive organism, the govt, never stops eating.” Worth pointing out, however, that when the spending bill cleared the Senate in May, gold and BTC pumped. This underscored…

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Filed under: News - @ June 4, 2025 11:20 am