The cryptography market opened the week on a volatile note that Bitcoin prices have plunged in the red while an explosive drama took place in Washington.
Only a few weeks after US President Donald Trump publicly congratulated Elon Musk as a “wonderful man”, their relationship took a clear and unexpected turn. While the Senate debated the highly publicized expenditure legislation of Trump, nicknamed the “great and beautiful bill”, Musk retaliated with a threat. The CEO of Tesla and Spacex announced that if Trump’s bill passed, he would launch a whole new political party called The America party.
But Musk did not stop there. Going to his X platform, the billionaire criticized the legislators for approving what he called the “greater increase in history debt”. He warned that those who supported the bill would lose their primary elections next year, promising to do so “if this is the last thing I do on this land”.
Trump retaliated just as hard. In an article on Truth Social, the president accused Musk of being deeply dependent on government’s subsidies, referring to this without federal support, Musk should “close the store and return home to South Africa”.
“More rocket, satellite or production of electric cars launches, and our country would save a fortune. Perhaps we should have made a good, hard, watch this great money to save,” Trump wrote. “I literally say cut everything. Now,” Musk said.
The public quarrel arrives at a tense time for the cryptography market. Bitcoin slipped 0.72% in the last 24 hours, now negotiating $ 106,743. Other major cryptocurrencies such as Ethereum, Solana and XRP have also shown mixed movements.
