Musk’s concerns over the U.S.'s escalating $35 trillion debt coincide with a surge in bitcoin’s value, outpaced by the rapid rise of dogecoin, a meme-based bitcoin competitor that has gained traction with Musk’s support for the Department of Government Efficiency, known as Doge.

Elon Musk is painting a clear picture of what he says is ahead if Donald Trump appoints him to lead government efficiency efforts. Musk told voters to expect some "temporary hardship" as he aims to drastically reduce federal spending,