The richest man in the world warns that the United States is on the verge of bankruptcy.
Tesla CEO Elon Musk shared an image on social media platform X showing the US dollar transforming into the Zimbabwean dollar, a currency that has experienced a steep decline in value due to excessive printing of money.
Before the currency collapsed in 2009, the country’s central bank printed $100 trillion worth of paper money and the price of a loaf of bread reached $300 billion.
Musk says.
One may ask, “How far has the dollar’s value been destroyed?”
Source: Elon Musk/X
Elon Musk expressed extreme bearishness on the US dollar after retweeting an article that noted that the US government uses 76% of personal income taxes to pay interest on nearly $35 trillion in debt.
“By the way, America is going bankrupt.”
Musk also recently used a profile picture of an X with a laser eye, a trend that has emerged in 2022 to show support for Bitcoin (BTC).
The billionaire has been a vocal Bitcoin advocate for years, and data shows Tesla currently holds 9,720 BTC, worth more than $640 million.
In 2022, Musk said his technology company was being affected by inflation.
“Tesla and SpaceX have recently faced significant inflationary pressures in raw materials and logistics.”
Musk deleted the photo of the laser eye yesterday.
At the time of writing, Bitcoin was trading at $65,964, down 2.13% from the previous day.
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