"We're done" - Tesla CEO Elon Musk issued a $37 trillion U.S. debt warning after Bitcoin shock

Tesla billionaire Elon Musk warned that the U.S. is rapidly heading towards a financial crisis due to US $37 trillion in debt, noting that current interest expenses have exceeded the Department of Defense budget. Musk, who holds $1.3 billion in Bitcoin on Tesla's balance sheet, confirmed his support for Bitcoin as a fiat currency, suggesting his new party might accept it. He fears that if the deficit is not cut, Bitcoin could replace the United States as the world's reserve currency.