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Highlights
- Coinbase CEO Brian Armstrong warned that Bitcoin could become the reserve currency if the US doesn't look to its debt rather than increasing it.
- Max Keiser predicted that the Bitcoin price could rally to $2.2 million with the proposed Big Beautiful bill.
- John Deaton opined that Elon Musk and Tesla could buy more Bitcoin as a hedge against the rising US debt.
Trump’s ‘One Big Beautiful Bill’ continues to spark controversy, particularly with the world’s richest man, Elon Musk, criticizing the US Congress over the bill. Amid this saga, crypto stakeholders like Coinbase CEO Brian Armstrong have made a case for why this bill is super bullish for Bitcoin.
Why The Big Beautiful Bill Is Bullish For Bitcoin
In an X post, Brian Armstrong stated that Bitcoin is going to take over as the reserve currency if the electorate doesn’t hold Congress accountable to reducing the deficit and start paying down the debt. The Coinbase CEO was reacting to the US national debt, which could increase thanks to the Big Beautiful bill.
The bill aims to increase funding for specific sectors and makes provision for the US debt ceiling to be raised if necessary. BTC maximalist Max Keiser also commented on the spending bill. In an X post, he stated that President Donald Trump was trying to pump his Bitcoin bags with this “invite to print-to-death.”
In line with this, he declared that the Bitcoin price rally to $2.2 million is imminent. As CoinGape reported, Keiser had described the US economy as a Ponzi scheme in his response to Elon Musk’s criticism about the Big Beautiful bill. He again affirmed his $2.2 million prediction for Bitcoin.
Following Armstrong and Musk’s criticism of the US debt and proposed spending bill, Keiser remarked that the duo are about to shift from Bitcoin agnostics to full Bitcoin maximalist mode.
Interestingly, XRP lawyer John Deaton also echoed a similar sentiment. As CoinGape reported, Deaton predicted that Elon Musk and Tesla could buy more Bitcoin because of the Big Beautiful bill. The XRP lawyer also described the bill as a “walking billboard and advertisement” for buying BTC.
Meanwhile, BitMEX founder Arthur Hayes also encouraged Musk to buy BTC following his criticism of the bill. He suggested that huge government spending is never going to stop and that the flagship crypto is the perfect hedge against this occurrence.
Samson Mow, another BTC maximalist, commented on the bill and the US debt in an X post, indicating that it is bullish for Bitcoin.
There will be no deficit reduction, and it cannot be paid down or mitigated through growth. There are only two possibilities now: 1) hyperinflate or 2) rebase to Bitcoin.
There will be no deficit reduction and it cannot be paid down or mitigated through growth. There are only two possibilities now: 1) hyperinflate or 2) rebase to #Bitcoin.
One is passive and one is proactive.
The outcome will be the same. pic.twitter.com/q8xiOi4E5Z
— Samson Mow (@Excellion) June 4, 2025
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