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BTC Same boat: Musk warns that the U.S. economic crisis will affect everyone
In 2025, Tesla and SpaceX CEO Elon Musk pointed out at a town hall meeting in Wisconsin that the fate of every worker, investor and billionaire is closely linked to the health of the U.S. economy.
"If the American ship sinks, all of us will sink with it," Musk said."I will die in the United States, and I will not leave. I may go to Mars, but it will also become part of the United States."
His core view is that wealth does not provide an escape route from crisis. "If the American ship sinks, your company won't survive," he emphasized to attendees, calling on business leaders to work together to keep the ship sailing. While investors can diversify and companies can expand overseas, no one can survive if turmoil breaks out in the world's largest economy.
Warning about debt
This comment fits into a theme Musk has repeatedly emphasized over the past year. He warned that excessive spending could push the United States into "debt slavery." He pointed out that interest on treasury bonds has exceeded US$1 trillion per year, exceeding U.S. defense spending (reported by Fox News in 2025). In addition, interest payments already account for 25% of government revenue. At the time of his speech, the total debt was approximately US$36 trillion, and in August 2026, this figure exceeded the US$40 trillion mark.
However, Musk is not blindly bad-mouthing. In December 2025, he predicted that the U.S. economy would grow by at least 10% in the next 12 to 18 months. This forecast seems overly optimistic: GDP grew by 4.3% in the third quarter of 2025, while the OECD expects growth to slow to about 1.5% in 2026.
Stress appears
The macro background gives it warning weight. As of July 2026, the annual inflation rate was 3.4%, higher than the Federal Reserve's 2% target; wholesale prices rose by 5.4% in August, exceeding expectations. Although the unemployment rate remained at 4.1%, the proportion of Americans unemployed for more than 15 weeks climbed to 43%, setting a five-year high.
Energy prices also remained high, with crude oil prices back approaching $100 a barrel as the conflict with Iran disrupted supply chains.
Cryptocurrency perspective
Musk's debt warning echoes Bitcoin's core logic: runaway spending weakens the value of the U.S. dollar, prompting investors to turn to hard assets. This argument is also one of the reasons why Musk himself got involved in cryptocurrencies. SpaceX disclosed holding 18,712 bitcoins in its June 2026 initial public offering (IPO), and this week Bitcoin traded at nearly $77,000.
This argument has become increasingly powerful as the crypto market grows. Bitcoin was worth only a few dollars in the early days, and in 2015 it was about US$236; today, the market value of the entire crypto market is about US$3 trillion, of which the market value of Bitcoin alone is close to US$1.3 trillion. The spot Bitcoin ETF launched in January 2024 has attracted institutional investors to enter, and strategy companies currently hold more than 700,000 bitcoins.
Washington has begun to view it as a strategic asset. A March 2025 executive order established the U.S. Strategic Bitcoin Reserve, holding approximately 198,000 confiscated bitcoins. As the market exceeds $300 billion, issuers have become major buyers of U.S. Treasurys. That means the ecosystem at which Musk's warnings were directed could in turn help finance the dollar he was worried about.
