Elon Musk has been more critical of the U.S. fiscal policy in a number of recent statements. This has caught the attention of Bitcoin supporters who see his comments as a move toward Bitcoin maximalism. Max Keiser, a well-known Bitcoin supporter and advisor to the government of El Salvador, said that Musk is “on the brink of going FULL BITCOIN MAXIMALIST.”
Elon is on the brink of going FULL BITCOIN MAXIMALIST https://t.co/hgh4Kp9Knj
— Max Keiser (@maxkeiser) June 4, 2025
Musk’s worries about money and Bitcoin’s appeal
Musk is worried about the rising debt of the U.S. government. He pointed out that interest payments on the national debt take up about 25% of government revenue. He warned that if the government keeps spending more than it makes, it could run out of money for important services. “There will only be money for interest payments and nothing else!” he said. There is no Social Security, no medical care, no defense, and nothing else.
This point of view is similar to what Coinbase CEO Brian Armstrong said when he warned that unchecked deficit spending could make Bitcoin the world’s reserve currency. Many people saw Musk’s response, a single U.S. flag emoji, as an unspoken agreement.
How the Bitcoin Community Responded
People in the Bitcoin community have quickly taken Musk’s comments as a possible endorsement of Bitcoin as a way to protect against bad fiscal behavior. Analyst Will Clemente thought that Musk’s “Bitcoin maxi arc [is] next,” while Anthony Pompliano thought that if Musk bought a lot of Bitcoin, it would be a strong statement against the way things are done with money right now.
Max Keiser added to this story by saying that Bitcoin’s value would go up dramatically, with a possible price of $2.2 million per BTC. He stressed that “everything goes to zero against Bitcoin,” making it a way to protect against the loss of value of fiat currencies.
What does this mean for the future?
Musk hasn’t officially said that Tesla’s Bitcoin holdings will change, but his recent comments are in line with the main ideas of Bitcoin maximalism. Because Tesla already has money in Bitcoin, any more connections with it could have big effects on the cryptocurrency market and the financial system as a whole.
Musk’s changing position on fiscal policy and monetary stability may lead other industry leaders to see Bitcoin as a beneficial alternative to traditional financial tools.
Also read: Trump Media’s $2.5 Billion Bitcoin Bet: A Strategic Shift in Digital Finance
