Elon Musk recently shared his perspective on US inflation via X (formerly known as Twitter). He stated that inflation is caused by the federal government exceeding its budget and resorting to printing more money to cover the difference. Musk proposed that the solution to inflation lies in reducing wasteful government spending.
Brian Armstrong, CEO of Coinbase, responded to Musk’s tweet, agreeing with his assessment. Armstrong pointed out that the primary cause of inflation is governments spending beyond their means and having to create more money. He suggested that if this practice were curtailed, most inflation problems would dissipate.
Armstrong further underscored Bitcoin’s role as a countermeasure against excessive inflation. He suggested that buying Bitcoin can be seen as a statement against inflationary policies.
