Elon Musk: Bitcoin’s New Best Friend? 💰

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Well, well, well… here we go again. Elon Musk, our favorite tech mogul with a penchant for making waves, has once again lit the fuse on the Bitcoin speculation bomb. This time, it’s his fiery reaction to a certain controversial Republican-backed spending bill. Apparently, it’s reignited the age-old question: is Tesla buying more Bitcoin? Spoiler alert: probably. 🚀

The bill, which promises to shower tax cuts on corporations and the ultra-wealthy, is set to balloon the U.S. national debt by a jaw-dropping $3.8 trillion over the next decade. XRP advocate John Deaton—who clearly loves stirring the pot—thinks Musk might just see this as the perfect excuse to stuff Tesla’s crypto wallet even further. As of now, Tesla holds a modest 11,509 BTC (that’s around $1.2 billion, if you’re keeping track), and Deaton’s prediction suggests they’ll be hoarding even more Bitcoin as a hedge against… well, everything. 🏦

Wouldn’t be surprised to see Elon and Tesla buy more Bitcoin. The Big Beautiful Bill is a walking billboard and advertisement for buying Bitcoin.

— John E Deaton (@JohnEDeaton1) June 3, 2025

The “Walking Advertisement” for Bitcoin?

Deaton, a man with no patience for crypto skeptics (looking at you, Senator Elizabeth Warren), didn’t mince words when describing the bill as a “walking advertisement for Bitcoin.” Translation: reckless government spending and inflation could soon make decentralized assets like Bitcoin the go-to choice for people like Elon Musk. 🤑

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But it’s not just Deaton throwing shade. Musk himself called the bill a “disgusting abomination,” which, let’s be real, is a bit of an understatement. Even Senator Rand Paul is on the “please don’t bankrupt us” bandwagon, citing concerns about an additional $5 trillion in debt. Meanwhile, traditional economists are clutching their pearls, fearing the bill could unleash a wave of inflation. Oh, and gold advocate Peter Schiff weighed in, calling the bill a disaster for the dollar. Thanks for the tip, Pete! 💸

Thank you Elon. You are absolutely right. I really appreciate your calling attention to this fraud. Hopefully you can influence the President to veto the bill if it passes the Senate in its current form, or anything close to it.

— Peter Schiff (@PeterSchiff) June 3, 2025

Oh, and in case you were wondering, Representative Marjorie Taylor Greene decided to throw in her two cents, raising concerns about a provision in the bill that would prevent states from regulating AI for the next 10 years. Because, you know, we should definitely be giving more power to the feds when it comes to AI—what could go wrong? 🤖

Tesla’s Bitcoin Obsession

Tesla, as you may recall, made headlines in 2021 when it dropped a cool $1.5 billion into Bitcoin. Since then, the company has sold off a bit of its stash but still holds around $1.2 billion in Bitcoin. Musk hasn’t outright said Tesla is buying more BTC, but given the current state of things—rising inflation, fiat currencies crumbling, and general economic chaos—it’s not exactly out of the question. The door is wide open for more Bitcoin, folks. 🚪💰

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2025-06-04 09:30