Tesla ($TSLA) CEO Elon Musk is considering expanding Bitcoin (BTC) holdings as a way to overcome conflicts with former President Donald Trump. Cryptocurrency industry figures emphasize that Musk's active acceptance of Bitcoin could serve as a symbolic means of confronting Trump.
Cryptocurrency analyst Will Clemente stated on his X (formerly Twitter) account on the 6th that "the best way to overwhelm Trump is to full port Bitcoin" and argued that Musk should make massive Bitcoin purchases. On the same day, Samson Mow, Blockstream's strategy director and JAN3 founder, also expressed a similar view, saying "it's time for Elon to go all in on Bitcoin".
Mow specifically proposed that Tesla resume Bitcoin payment methods previously discontinued and include Bitcoin in its corporate financial strategy. Tesla had stopped Bitcoin payments in 2021 due to environmental concerns but still holds some digital assets. According to Cointelegraph, Tesla's digital asset holdings in the first quarter decreased by 11.6%, from $1.076 billion to $951 million.
Mow also suggested that Musk's space exploration company SpaceX offer launch cost discounts to customers paying with Bitcoin. He emphasized "forcing a hard money standard on fiat currency issuers".
He advised "investing in Bitcoin before the government freezes Musk's assets". This is connected to the argument that the US should hurry to purchase BTC before falling behind, noting that no additional BTC was purchased after Trump's "Strategic Bitcoin Reserve Order" issued three months ago.
Among Bitcoin advocates, there are high expectations that Musk's support would have significant influence. Boyd Cohen, co-founder of blockchain infrastructure company Lomob, said, "If Musk turns into a Bitcoin maximalist, everything will start anew" and added that "he would become a presidential-level figure promoting BTC payments in all businesses and Bitcoin as the only path to freedom on the world's major stages".
The conflict between the two originated when Musk criticized Trump's tax-related bill as "disgusting and terrible" and broke ties. The conflict escalated on social media on the 5th. Musk criticized Trump's global tariff policy as "causing an economic recession in the second half of the year", to which Trump responded on his platform Truth Social that "terminating government subsidies and contracts to Musk could save billions of dollars in US government budget".
Meanwhile, Musk has recently shown interest in cryptocurrencies. On the 2nd, he announced that the new messaging service 'X Chat' would incorporate Bitcoin-style encryption technology.
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