Elon Musk issues stark one-word warning on skyrocketing $36T debt originally appeared on TheStreet .
Billionaires, including the world's wealthiest man Elon Musk , couldn't stop reacting as the U.S. national debt hits record high. As per the Treasury Department , the U.S. debt stood at $36.2 trillion on June 3.
"Scary," the tycoon reacted on X .
Musk's one-word response to the monumental debt encapsulates what nearly everyone has been feeling. The tech tycoon isn't the only billionaire worried about the precarious condition.
Tyler Winklevoss , who co-founded the Gemini crypto exchange along with his twin brother Cameron Winklevoss, also reacted to the development. The billionaire crypto entrepreneur, however, seemed to offer a rather unique way out of the condition:
Buy bitcoin
Though Winklevoss's advice is quite uncommon, it is not entirely new. Even Sen. Cynthia Lummis (R-WY), a political heavyweight in the crypto circle, thinks on similar lines.
Lummis, a leading pro-crypto voice in the U.S. Senate, is well-known for her BITCOIN Act that, once legislated, will codify President Donald Trump's March executive order to establish a strategic Bitcoin reserve.
Sen. Lummis thinks Bitcoin is the solution to the soaring national debt too. On March 27, she shared the stage with Strategy (Nasdaq: MSTR) founder Michael Saylor when she claimed :
If it [Bitcoin] is held for 20 years, pursuant to the best modeling available, we can reduce our national debt by half.
The views of the likes of Winklevoss and Sen. Lummis regarding Bitcoin's viability to resolve the debt crisis haven't found any wide support so far. Nonetheless, Trump has emerged as a strong supporter of Bitcoin during his second term.
As per Bitcoin Treasuries , the U.S. holds most Bitcoin — 198,012 BTC worth $21 billion at the time of writing — among all the countries.
As per Kraken , Bitcoin was trading at $105,704.14 at press time.
Elon Musk issues stark one-word warning on skyrocketing $36T debt first appeared on TheStreet on Jun 3, 2025
This story was originally reported by TheStreet on Jun 3, 2025, where it first appeared.
