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

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.

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.