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Fiscal crisis in sight? Elon Musk and Donald Trump are betting on Dogecoin and Bitcoin as emerging financial solutions!
The billionaire Elon MuskCEO of Tesla, is not afraid to be direct. He recently expressed concerns on social media about the possibility of EUA face a “super fast bankruptcy“Amid growing fiscal deficits, Musk has highlighted the urgent need for measures to curb public spending.
Alarming numbers: the national debt is rising
In a post on X (formerly Twitter), Musk revealed that the US government EUA spent impressive $6,16 trillion in 2023, while it only raised $4,47 trillion in revenues. This alarming discrepancy is contributing to the rising national debt, which has already surpassed the $34 trillion (approximately R$ 170 trillion) in early 2024. For Musk, this situation needs to be corrected quickly to avoid a catastrophic fiscal crisis, according to infomoney.
An unusual solution: the “Doge Department of Government Efficiency”
With his usual humorous tone, Musk suggested the creation of a “Doge's Department of Government Efficiency” as a strategy to reduce public spending. The name refers to the famous criptomoeda with dog theme, the Dogecoin (DOGE), which Musk has previously declared to be his “favorite cryptocurrency.” Despite the relaxed tone, he believes that this department could result in a $2 trillion for EUA.
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The influence of cryptocurrencies
Musk's proposal came in response to a post on X that joked about “fix the USA” with a department inspired by a memecoin. In response, Musk commented “literally,” accompanied by a laughing emoji, showing his support for the idea. In addition, Musk is promoting names in favor of cryptocurrencies to the office of Donald Trump. Since the day of the Republican's re-election, the Bitcoin (BTC) has already seen an increase of around 40%, while the Dogecoin has accumulated impressive earnings of 150%.
America's economic future at stake
The statements of Elon Musk not only reflect their concerns about the economy, but also highlight their innovative vision on how tech and cryptocurrencies can play a significant role in solving complex financial problems. As discussions about the economic future of EUA intensify, Musk's proposals will certainly continue to generate important debates and reflections.
It is a fact that the US has always manufactured currencies without backing, now this idea of using cryptocurrencies to be the basis of that country's economy is too much, I see **** here saying that the dollar is good because it is always rising, that is enough to make **** fall apart, now we have to live with the Brazilian **** hoping for the value of cryptocurrencies to increase, then I have to jump off that boat.
In the last 24 hours it hasn't gone up at all, it continues to fall and is below $92000 at this very moment.
Elon Musk is a visionary person, he knows that everything he puts his hand on generates money. These days, give him money today and it will no longer be a problem. Even if you don't want it, the vile metal will go into your wallet. He likes it the same way and he challenged the President of the United States to expect financial victory for the country.