Elon Musk’s public clash with President Donald Trump over various economic and policy issues has drawn attention, sparking speculation over the role of crypto as a safe haven.

Now, Compound founder Robert Leshner is suggesting that the richest man in the world is just two weeks away from acquiring a staggering $100 billion worth of Bitcoin (BTC) and “tanking” the US dollar.

This comes after the billionaire tech entrepreneur raised alarm against President Trump’s big, beautiful tax bill and its impact on national debt. Notably, the bill is projected to increase the fiscal deficit by 2.4 trillion over ten years.

The feud escalated quickly, with Musk threatening to ground SpaceX’s Dragon spacecraft and Trump countering by claiming the government would move to cut off all federal support for Musk’s companies. Musk lashed back by linking Trump to the infamous Jeffrey Epstein’s files.

The spectacular public blowup overshadowed what had been a mostly bullish trend for crypto markets in recent weeks, triggering a pullback in prices.

Over the past 24 hours, Bitcoin reached $105,888 before slumping to $100,783 within a matter of hours, according to data from CoinGecko. At the time of publication, Bitcoin is holding at $103,956.

Notably, Bitcoin OG Adam Back recently agreed with a post suggesting that Musk should buy 1 million in BTC to “front-run the US government and the Trump family”.

Back is not hopeful that the Tesla/SpaceX boss will eventually go hard on Bitcoin, which would be “the obvious smart money move.” Though the eccentric billionaire does own Bitcoin, Back maintains that the current allocation is considerably low for his enormous net worth. 

That being said, someone as influential and famous as Musk taking fiscal concerns public could drive investors away from U.S. assets and into alternatives, such a Bitcoin. Moreover, it comes at a time when corporate treasury adoption of BTC and other crypto assets, including Solana and XRP, has picked up pace.

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Filed under: Bitcoin - @ June 6, 2025 7:10 pm