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Highlights
- Bitcoin Maxi Max Keiser refers to U.S. economy as ponzi scheme replying to Elon Musk.
- Elon Musk had criticized OBBBA bill introduced in Congress for inflating U.S. budget deficit to $2.3 trillion.
- Max Keiser sets his eyes on Bitcoin at $2.2 million, after imminent failure of traditional finance.
American filmmaker Max Keiser, who is popular for making Bitcoin predictions, has referred to U.S. economy as a “ponzi scheme” in reference to the rising budget deficit and reiterated his stance that Bitcoin will reach $2.2 million in value.
Keiser quoted a tweet made by SpaceX CEO and tech mogul Elon Musk who had criticized the recently proposed “One Big Beautiful Bill Act” (OBBBA) bill for increasing the budget deficit of U.S. economy to a speculative $2.5 trillion. OBBBA bill refers to a recently proposed bill in the 119th U.S Congress that is set to further increase pressure on U.S. budget deficit, as per experts.
In his tweet, Keiser said “You can’t taper a Ponzi scheme”, referring to the inherent collapse of a systemic financial failure, that has emerged of late, due to rising budget deficit in the U.S.
Keiser also maintained that in the wake of U.S. traditional economy set for an imminent collapse, it is Bitcoin as digital gold, that will soar to astronomical figures of $2.2 million. Keiser has long been bullish on Bitcoin and since 2021, has claimed that BTC will reach the figure of $2,200,000, acting as a hedge against systemic financial failure.
Keiser again showed his confidence on Bitcoin and said that, “Everything goes to zero against Bitcoin. Everything, and I mean EVERYTHING, when compared to Bitcoin, is relatively or absolutely a Ponzi scheme compared to Bitcoin.
What is OBBBA bill and why is Elon Musk against it?
OBBBA bill has been proposed by senate Republicans after the 2024 U.S. presidential elections in which Trump had emerged victorious. According to senate majority leader John Thune, it was President Trump’s idea to name the bill as “one big beautiful act.”
The OBBBA bill will allocate an additional $150 billion for defense expenditure and has proposal for several cuts. The bill is estimated to add several trillion dollars to the U.S budget deficit.
Tech mogul Elon Musk, who had campaigned for Donald Trump during the 2024 presidential elections, has been actively involved in the Trump administration since day 1 with his Department of Government Efficiency (D.O.G.E.) wherein he had proposed several cuts and layoff to sae taxpayers’ money. According to Musk, the OBBBA bill will “massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America citizens with crushingly unsustainable debt.”
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