- Donald Trump is promoting a new spending bill that aims to increase government spending by $5 trillion.
- Elon Musk opposes the bill, citing concerns over its impact on the U.S. debt ceiling and fiscal policy.
- Musk announced on X (formerly Twitter) that he may launch a new political party, the “America Party,” if the bill is passed.
- Market predictions suggest that Dogecoin and Bitcoin prices could surge if Musk enters politics and backs crypto-friendly policies.
- Musk previously led the Department of Government Efficiency, aimed at reducing government spending under the Trump administration.
On June 30, 2025, Donald Trump revealed a legislative proposal known as his “big beautiful bill,” seeking to increase government expenditure by $5 trillion. The development has sparked debate in the U.S. political landscape as Elon Musk publicly criticized the proposal and suggested forming a new political party to oppose it.
According to statements shared on X, Musk described the bill as “insane spending” and argued that it would cause the national debt ceiling to rise to unprecedented levels. He said, “It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS, that we live in a one-party country—the PORKY PIG PARTY!! Time for a new political party that actually cares about the people.” (source).
Musk also questioned the purpose of a debt limit, posting, “What’s the point of a debt ceiling if we keep raising it?” He further pledged to form the “America Party” if the bill is passed, writing, “If this insane spending bill passes, the America Party will be formed the next day. Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.” (source).
Previously, Musk served as head of the Department of Government Efficiency (DOGE) under Trump, where he worked to control federal spending. He claims the new bill would reverse the department’s progress on government cost-cutting.
According to automated forecasts cited in the report, if Musk continues his involvement in politics, it could create positive market sentiment around digital assets like Dogecoin and Bitcoin. Predictions show Dogecoin could reach $0.25 in the short term and potentially $0.60 if Musk’s support intensifies. For Bitcoin, prices could climb toward $130,000 if crypto policies favor the asset.
The outcome of the legislation and Musk’s political moves remain uncertain, but both are being closely watched by investors and analysts for potential impacts on cryptocurrencies and U.S. fiscal policy.
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