Elon Musk has raised serious concerns about the US budget deficit rising to $2.5 trillion, warning of potential national bankruptcy. This statement has had significant repercussions for Tesla's stock and attracted attention to economic issues.
Critique of Trump's Budget
Elon Musk publicly criticized the Trump administration for increasing the fiscal deficit to $2.50 trillion. He suggested, "This move will lead to national bankruptcy." This statement is part of his broader political ambitions, including the creation of a political entity named the 'American Party.'
Consequences for Musk's Companies
Current economic upheavals have negatively affected Tesla's stock, which has fallen by 14%. The increase in the deficit may also impact Musk's companies involved in clean energy and AI, adding pressure due to potential changes in federal contracts. Musk urged Tesla employees to maintain their stock holdings despite market volatility, highlighting confidence in future projects.
Impact on the Cryptocurrency Market
Amid fiscal uncertainty, Bitcoin (BTC) maintains a high price at $108,187.95. Data shows a market cap of $2.15 trillion and a 64.67% dominance. Over the past 90 days, BTC has shown a 37.13% increase, confirming the resilience of the crypto market even amid financial instability.
Elon Musk's statements attract significant attention both in business and financial markets. His critique of the budget deficit intersects with growing concerns about fiscal policy, which may have long-term implications for various sectors of the economy.
