A magnetic tech engineer advising former president Trump on technology, business, and public policy proposes government efficiency measures to curb inflation. The advisor believes reduced government spending could lower inflation, potentially impacting cryptocurrency prices, particularly Bitcoin. While some see Bitcoin as a hedge against dollar inflation, Musk warns that successful deficit reduction could actually hurt Bitcoin's growth.
The magnetic tech engineer has advised the once and future president Trump broadly on a number of matters relating to technology, business, and public policy.
In fact, many cryptocurrency investors say they favor crypto assets like Bitcoin, Ripple, and Dogecoin as a shelter for their savings from dollar inflation. But Musk warned in an X reply thread on Tuesday that if the D.O.G.E. office’s plans are successful, it will represent a headwind for Bitcoin’s price, not support for growth.
Finance Cryptocurrency Bitcoin Inflation Government Spending Donald Trump
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