Brian Armstrong, the CEO of Coinbase, recently issued a stark warning about the state of the U.S. national debt. In a tweet this week, Armstrong expressed his concern that if lawmakers don’t take action to reduce the deficit, Bitcoin could potentially replace the dollar as the world’s reserve currency.
Armstrong’s tweet was in response to a post from World of Statistics showing the alarming increase in U.S. national debt over the past few decades. The numbers are staggering, with debt skyrocketing from $5.7 trillion in 2000 to $36.9 trillion in 2025, a more than sixfold increase in just 25 years.
The tweet sparked a debate among prominent figures in both the crypto and mainstream worlds. YouTube creator MrBeast questioned the sustainability of accumulating over $100 trillion in debt, while crypto influencer Wendy O expressed doubts about Bitcoin’s ability to become a reserve currency due to its volatility.
Elon Musk, who recently split from the Republican spending agenda, retweeted Armstrong’s post and added an American flag emoji. Musk has been vocal about his frustrations with government spending, particularly criticizing the ‘One Big Beautiful Bill’ and the massive deficit spending that is crippling the country.
In a series of tweets, Musk highlighted the dire consequences of unchecked deficit spending, noting that interest payments already consume a significant portion of government revenue. He called for accountability in the upcoming midterms, urging Americans to vote out politicians who continue to support irresponsible spending bills.
The U.S. government is facing a looming spending crisis, with interest on the federal debt expected to reach nearly $1 trillion this year and potentially double by the mid-2030s. Rising entitlement costs, pandemic-era spending, and a reluctance to address the root causes of the deficit are all contributing to the growing fiscal challenges.
While Bitcoin’s potential as a reserve currency remains uncertain, institutional interest in the cryptocurrency is on the rise. With Bitcoin trading above $100,000 and spot ETFs becoming more accessible, the narrative of Bitcoin as “digital gold” is gaining traction in mainstream financial circles. However, Bitcoin still faces challenges in becoming a true reserve currency, given its volatility and lack of macroeconomic levers compared to traditional fiat currencies.
Overall, the discourse around Bitcoin’s role in the global financial system reflects a broader conversation about financial discipline and the sustainability of current monetary policies. As America’s debt burden continues to mount and confidence in traditional monetary systems wanes, the possibility of Bitcoin becoming a reserve currency is no longer out of the question. Armstrong and Musk believe that the clock is ticking for what they refer to as “hyperbitcoinization.”