Jack Dorsey Pitches Bitcoin to Elon Musk Amid Controversy Over ‘Beautiful Bill’

Highlights

Highlighting Musk's past pro-Bitcoin remarks, Jack Dorsey continues to champion Bitcoin adoption
Musk criticized the "beautiful bill" for its massive $2.5 trillion deficit increase and its potential to burden Americans.
Musk supports Coinbase CEO Brian Armstrong’s warning about Bitcoin emerging as a reserve currency.
As the 'beautiful bill' faces backlash, President Trump aligned with Senator Elizabeth Warren’s proposal to scrap the debt ceiling entirely.

With Elon Musk recently lashing out at the controversial “beautiful bill”, which aims to further spending and increase the debt ceiling, Jack Dorsey reminds Musk that he should support Bitcoin by pointing out his 2020 tweet that “Bitcoin is my safe word”. BTC price remains firm at $105,000 amid growing support, as the Trump administration pivots from its earlier stand.

Elon Musk’s Controversial Take on Spending Bill And Debt Ceiling

Additionally, Elon Musk has also backed a warning from Coinbase CEO Brian Armstrong, who said, “Bitcoin is going to take over as a reserve currency,” if the citizens don’t hold Congress accountable on repaying the debt. Pro-XRP lawyer John Deaton believes that Musk might make a Bitcoin buying announcement anytime soon. In his message on the X platform, Musk wrote:

The Beautiful Bill “will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America citizens with crushingly unsustainable debt. Spending bill contains the largest increase in the debt ceiling in US history! It is the Debt Slavery Bill. Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL”.

Interestingly, the bill comes just within a week of Elon Musk exiting the Department of Government Efficiency (DOGE). The bill “more than defeats all the cost savings achieved by the DOGE team at great personal cost and risk,” added Musk. Last week, DOGE shared plans to avoid US recession by boosting GDP growth.

Amid pushing the ‘Beautiful bill,’ US President Donald Trump made a shocking comment agreeing to Senator Elizabeth Warren’s proposal of eliminating the debt ceiling. In his message on the X platform, Trump wrote: The Debt Ceiling should be entirely scrapped to prevent economic catastrophe”. If so, this would eliminate Congress’s approval anytime for raising the debt ceiling.

Jack Dorsey Reminds Elon His “Bitcoin my Safe word” tweet

Although the Trump administration is pushing the US Congress spending bill, calling it the ‘beautiful bill’, billionaire investors like Elon Musk and Jack Dorsey have rejected it and are leaning towards Bitcoin. Amid Musk’s vehement opposition to this controversial bill, Dorsey hints that it would be better to support Bitcoin in this situation.

bitcoin https://t.co/GSwymIQbFI

— jack (@jack) June 5, 2025

As reported by Coingape, many bitcoin maxis including Max Kaiser and Coinbase CEO Brian Armstrong believe the beautiful bill is actually very bullish for Bitcoin. Amid the current developments, Dorsey has been pushing for the adoption of Bitcoin. In his earlier tweet, Dorsey said that he paid for his fries at Steak and Shake with BTC, in yet another endorsement for the asset class. Ever since Twitter’s takeover by Musk, Jack Dorsey has been working on Block Inc. which agreed to accept Bitcoin payments in April.

Earlier, Elon also responded to Coinbase CEO Brian Armstrong’s tweet about Bitcoin becoming reserve currency if US continues with current spending and removes the debt ceiling.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.