Jack Dorsey is ramping up his efforts for Bitcoin adoption! He playfully encourages Elon Musk to give the cryptocurrency a shot by sharing Musk’s 2020 tweet where he referred to Bitcoin as his “safe word.”
This clever move is happening amid the debate over the controversial “beautiful bill,” which involves a proposed $2.5 trillion spending boost tied to increasing the U.S. debt ceiling.
With Bitcoin holding strong at $105,000, Dorsey’s appeal highlights the exciting tension between decentralized finance and traditional financial policies, intriguing both crypto fans and investors.
Elon Musk didn’t hold back. In a fiery post on X, he slammed the bill as a reckless move that would increase the U.S. budget deficit by $2.5 trillion. He warned that it would cancel out all the savings achieved by the Department of Government Efficiency (DOGE), which he recently stepped away from.
Musk urged Americans to take action, writing:
“Bankrupting America is NOT OK! KILL the BILL.”
He also supported Coinbase CEO Brian Armstrong’s warning: if the U.S. continues to spend irresponsibly and removes the debt ceiling, Bitcoin could become the world’s new reserve currency. Pro-XRP lawyer John Deaton added that Musk might even make a major Bitcoin move soon.
In a series of events, President Trump endorsed Senator Elizabeth Warren’s call to abolish the debt ceiling, claiming on X that it could prevent economic disaster.
This spontaneous alignment, despite his administration’s support towards the “beautiful bill,” has left viewers reeling. However, Bitcoin maximalists like Max Keiser and Armstrong see the bill as a bullish catalyst for Bitcoin, quoting that it will weaken fiat currencies through uncontrolled spending.
While the bill has raised concerns, some Bitcoin advocates see it differently. Max Keiser and Brian Armstrong both believe that more government spending could actually benefit Bitcoin. Their view? The more the U.S. prints money, the weaker the dollar becomes and the stronger Bitcoin looks as an alternative.
Crypto firms like HTX, founded by Leon Li, are also backing Bitcoin adoption during this debate, reinforcing its growing importance in the global financial system.
Jack Dorsey believes in action. He recently tweeted that he bought fries at Steak ‘n Shake with BTC, showing how it works in real life.
Since Musk took over X, Dorsey has been focusing on Block Inc., which has started accepting Bitcoin payments. His decision to repost Musk’s old tweet is a signal: in uncertain times, Bitcoin might be the safer choice.
As Washington pushes ahead with massive spending, crypto leaders like Dorsey and Musk are warning about the long-term risks. We’ll have to wait and see how it plays out.
Jack Dorsey playfully urged Elon Musk to “Study Bitcoin” by referencing Musk’s old “safe word” tweet, amidst a US debt ceiling bill debate.
Dorsey’s company, Block Inc., is enabling Bitcoin payments on Square terminals, facilitating real-world Bitcoin transactions.
Advocates like Dorsey and Musk suggest Bitcoin offers a decentralized alternative to fiat currencies amid rising national debt.
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