Elon Musk recently voiced worries about the U.S.’s national debt and excessive government spending, suggesting productivity growth is a more reliable solution than austerity measures. He even predicted the U.S. might face bankruptcy. However, Bitwise CEO Hunter Horsley believes this raises Bitcoin’s importance significantly. He argues fiat currencies like the US dollar will continue to lose value due to inflation, making Bitcoin a stronger hedge against such devaluation. According to Horsley, the limited supply of Bitcoin, capped at 21 million coins, makes it ideal for hedging against currency debasement. However, many critics disagree, with Peter Schiff, a frequent Bitcoin skeptic, claiming that the efforts by Musk and the Department of Government Efficiency (DOGE) are insufficient to tackle a significant dollar crisis. The U.S. Dollar Index (DXY) has plummeted 10% following these developments.