Jack Dorsey urged Elon Musk to adopt Bitcoin (BTC) in an interesting move. Amid the spreading controversy surrounding the '$2.5 trillion Beautiful Bill', Dorsey shared Musk's 2020 tweet and encouraged Bitcoin support.
With Bitcoin maintaining the $105,000 level, Dorsey's actions further intensified the tension between decentralized finance and traditional financial policies.
Musk strongly criticized the bill on 'X', stating that it would increase the US fiscal deficit by $2.5 trillion. He expressed concerns that all cost-saving effects from the government efficiency department he recently resigned from (DOGE) would be in vain.
Coinbase CEO Brian Armstrong warned that Bitcoin could become the world's reserve currency if the US continues reckless spending and removes the debt ceiling. XRP lawyer John Deaton predicted that Musk might soon make a significant decision regarding Bitcoin.
Trump supported Senator Elizabeth Warren's proposal to abolish the debt ceiling, claiming it could prevent an economic crisis. This was contrary to his previous stance supporting the 'Beautiful Bill'.
Bitcoin supporters like Max Keiser and Armstrong predicted that this bill would have a positive impact on Bitcoin. Leon Li, founder of HTX, also supported Bitcoin adoption amid the controversy and reaffirmed Bitcoin's importance in the global financial system.
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