Bitcoin supporters have thrown their support behind Elon Musk after he called Donald Trump‘s new tax and spending cuts a «path to debt slavery.» Musk also hinted that he would support Bitcoin (BTC) as the reserve currency of the United States.
The so-called «One Big Beautiful Bill Act» would add $2,4 trillion in debt to the US’s existing $36,2 trillion in liabilities.
It would also provide $3,75 trillion in tax cuts and likely leave 7,8 million people without health insurance due to $1,3 trillion in federal spending cuts.
Bitcoin- maximalists fundamentally disagree with the growth of debt and would prefer the US dollar to be pegged to BTC.
In the investment account Bitcoin-Swan companies Bitcoin agreed with his comments about “debt slavery” and wrote “Elon will understand, there is no way out without BTC.” The magazine Bitcoin Magazine used Musk’s words to encourage its subscribers to buy Bitcoin.
Max Kaiser decided that Tesla’s CEO was «on the verge of going full Bitcoin- a maximalist.»
The Wall Street Journal suggested that the reason for such an unexpected rift between Trump and Musk was the president’s decision to reject the candidacy of Jared Isaacman, Musk’s choice for the post of NASA chief.
