The Bitcoin community has recently rallied behind Tesla CEO Elon Musk, urging him to “stack Bitcoin” in an effort to assert dominance in his ongoing public spat with former US President Donald Trump. This unexpected crossover between the worlds of cryptocurrency and politics has captured the attention of many, sparking conversations about the implications of such a move.
**Elon Musk vs. Donald Trump: The Public Feud Intensifies**
The tension between Musk and Trump escalated following Musk’s departure as an adviser to Trump. On June 3, Musk publicly criticized Trump’s tax bill, describing it as a “disgusting abomination.” This prompted a back-and-forth exchange on social media, where Musk warned that Trump’s proposed global tariffs could lead to a recession later in the year. In response, Trump commented on his platform Truth Social, suggesting that cutting Musk’s government subsidies could save the US billions.
**The Call to Action from Bitcoin Advocates**
As the feud unfolds, prominent figures in the Bitcoin community have chimed in with advice for Musk. Notably, crypto trader Will Clemente boldly stated, “The best way for Elon to get back at Trump is by fully supporting Bitcoin.” This sentiment was echoed by Samson Mow, founder and CEO of JAN3, who implored Musk to “go all in on Bitcoin.”
The idea here is not just about Musk’s personal investments but also about Tesla’s broader strategy regarding cryptocurrency. Mow urged Musk to reintroduce Bitcoin as a payment option for Tesla vehicles and to consider adopting a Bitcoin treasury strategy. In 2021, Tesla had halted Bitcoin payments, citing environmental concerns. Nevertheless, the company continues to hold digital assets, with a reported drop in value from $1.076 billion to $951 million in Q1 2023.
**Innovative Suggestions for Tesla and SpaceX**
Mow went a step further, proposing that SpaceX could incentivize customers by offering discounts for payments made in Bitcoin. His remarks reflect a desire for Musk to take a firm stance in favor of Bitcoin, essentially “forcing a hard money standard on the money printers.” Mow highlighted the urgency for the US to start accumulating Bitcoin this year to maintain its competitive edge over other nations, especially given Trump’s recent executive order regarding a Strategic Bitcoin Reserve.
**Speculations on Musk’s Potential Influence**
Many in the Bitcoin community speculate that if Musk were to fully embrace Bitcoin, he would do so with great vigor. Boyd Cohen, co-founder and CEO of Lomob, remarked that “if Musk were to go BTC maxi, all bets are off in so many ways.” He predicts that Musk would aggressively build or acquire assets to create the largest Bitcoin treasury, welcoming Bitcoin payments across all his ventures. Cohen characterized Musk as someone who does not engage in half-measures, stating that he would prominently champion Bitcoin on the global stage as a path to freedom.
**Musk’s Ongoing Interest in Cryptocurrency**
Beyond this feud, Musk has consistently shown a keen interest in cryptocurrency. Most recently, on June 2, he announced that his social media platform, X, would incorporate “Bitcoin-style encryption” into a new messaging feature. This continued emphasis on Bitcoin and crypto suggests that Musk remains deeply engaged with the digital currency space.
In summary, the intersection of Musk’s dynamic business interests and his public feud with Trump has ignited discussions within the Bitcoin community. Advocates are calling for Musk to leverage his influence to benefit Bitcoin, which could significantly impact not only his companies but also the broader cryptocurrency landscape.
