Bitcoin or Bust: Musk, You’ve Got a Big Problem, and It’s Not Just Your Tweets

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Adam Back, a name that resonates in the Bitcoin circles like a slow, inevitable thunderstorm, has suggested that Elon Musk, that notorious centibillionaire with a passion for flashy tech, might want to reconsider his financial strategy. In his infinite wisdom, Back proposed that Musk save his precious wealth in Bitcoin—because, well, it’s either that or watch your money dissolve into the vapor of inflation and financial repression.

So @elonmusk, given the DOGE experience, inflation, financial repression (interest rates below inflation) as the only option, have you thought about saving in #bitcoin? Seems like a no-brainer…

— Adam Back (@adam3us) June 5, 2025

The tweet, as you might imagine, was as subtle as a sledgehammer. It was inspired by none other than Milton Friedman, that old economist who argued, with a gleam in his eye, that government spending is just another form of taxation, because, in the end, everything the government spends comes from the people. You know, just like the humble Bitcoin miners—except they don’t steal your money, they just *mine* it.

Back, a fan of Friedman, posted this after hearing a clip of the famed economist. Because, in the grand tradition of Bitcoiners, one must constantly seek affirmation from old dead guys who definitely didn’t predict crypto.

Meanwhile, Musk—who, in case you hadn’t heard, has never been shy about his opinions—was busy this week opposing the House-passed tax bill. To no one’s surprise, Musk described the legislative effort as “a disgusting abomination,” urging Senators to vote against it. Maybe he was too distracted by his next space mission to read the details, but who knows?

The One Big Beautiful Bill Act (OBBA) promises to deliver the most massive tax cut in history, while simultaneously adding about $2.4 trillion to the national debt. Some economists, with their dreadfully boring graphs and charts, are whispering about the inflationary consequences of this proposal. But what do they know? It’s a *beautiful* bill.

Of course, Bitcoiners, ever the optimists, have thrown their shiny, digital hats into the ring. They see the leading cryptocurrency as the ultimate solution to the problem of deficit. And they’ve suggested Musk do something radical—put his “laser eyes” on. Because, you know, laser eyes always solve everything, right?

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2025-06-05 21:59