Elon Musk is once again spooking markets with the imminent collapse of the dollar system.
The billionaire believes the current US economic model, with its endless borrowing, is doomed. In his view, the very concept of money will dissolve in the future, giving way to the only hard currency — energy.
In an interview with Nikhil Kamath, the entrepreneur explained his logic. Bitcoin, he says, is based precisely on energy, and that is its main advantage.
“Governments have always printed and will continue to print unbacked money, diluting citizens' savings. Energy, however, cannot be faked. Electricity costs for mining act as a natural barrier that cannot be bypassed by legislation,” he stated.
Musk added that the market is already trying to save capital. Traders are actively betting against fiat, shifting into hard assets. Gold and silver are refreshing historical maximums.
Bitcoin has also grown by nearly 200% over two years, although it is currently undergoing a correction after its October peak of $126,000.
Meanwhile, the US national debt has crossed $38 Trillion, and the printing press isn't stopping. The budget deficit stands at around $2 Trillion. Musk sees a way out through technology.
He predicts that in the next three years, artificial intelligence will accelerate the production of goods and services so much that supply will exceed inflation. This will supposedly lead to deflation, zero interest rates, and a reduction in the debt burden.
Politics is more complicated. Musk's relationship with Donald Trump has cooled due to the president's inability to cut government spending. The Department of Government Efficiency (DOGE), created by Musk himself, has also not yet shown the promised trillion-dollar savings.
After exiting the political race, the businessman declared that the dollar is hopeless, and the future belongs to assets like the first cryptocurrency.
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