Bitcoin supporters called for a new tax cut for Donald Trump, supporting Elon Musk after spending the road to “debt slavery,” suggesting that they would support Bitcoin (BTC) as the US reserve currency.
The so-called “one big beautiful bill law” is reportedly adding US worth $2.4 trillion worth of debt to already $36.2 trillion.
It also claims it will remain 7.8 million without access to health insurance, as it has achieved a $3.75 trillion tax cut and federal spending reduced by $1.3 trillion.
On Wednesday, Musk launched an angry tilade over the bill and the debt it generates, calling it “unpleasant and hateful.” He also responded with an American flag emoji to Coinbase CEO Brian Armstrong after Armstrong said that if Congress does not reduce the deficit, the BTC will become the US reserve currency.
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Bitcoiner believes Elon Musk is becoming one of them.
That’s why Bitcoin’s maximalists are welcoming mask criticism by spreading their weapons. They fundamentally oppose an increase in debt Rather, look at the US dollars that are glued to BTC instead.
Bitcoin investment firm Swan Bitcoin agreed to his “debt slavery” comments, saying, “Elon will come true: no exit without BTC.” Bitcoin Magazine used the same criticism from Musk to encourage followers to buy BTC.
Bitcoin novelist Michael R. Sullivan believes Musk will “get deeper into BTC by the end of the year” in response to this debt, and as a result, it will be fueled by “parabolic paths.”
Max Skiser, a BTC maximalist with a more stranger idea, said Tesla’s CEO is “on the brink of falling into a full Bitcoin maximalist.” In another unlikely scenario, he said it had something to do with Trump’s plans. Buy billions of dollars worth of BTC for hundreds of millions of dollars he’s printing.
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The sentiment among the entire Bitcoin supporters is that Elon Musk is “orange-pipping himself.” That said, the rise in debt is not the only reason behind his rage.
The Wall Street Journal (WSJ) reported that the president’s decision to block Jared Isaac Man, the mask pick for NASA Head, has greatly confused the mask.
Regardless of this, White House officials have argued that criticism of Musk of the bill has reportedly caught the Trump administration off guard and disrupt Trump.
It could also be Musk’s own Department of Government Efficiency (DOGE) that exacerbates the US debt problem. As WSJ reports, if Doge cuts the IRS, tax returns could be reduced by 10%; $500 billion in lost revenue.
This is due to the public’s perception that the IRS has few staff members confirming and enforcing applications. In fact, a third of the auditors have left.
