The passage of the Big Beautiful Bill marks a significant political event in the USA, creating widespread resonance across various sectors, including the economy and the cryptocurrency market.
Overview of the Big Beautiful Bill
The bill was approved by both the Senate and the House of Representatives, and signed by President Donald Trump. It includes permanent tax cuts, increased funding for border security and defense. However, it will also result in a $3.3 trillion increase in the national deficit.
Impact on the Crypto Market
The new law has reflected on the cryptocurrency market. The total market capitalization increased by 0.37%, with Bitcoin and Ethereum prices also rising. Some experts believe that tax relief could draw investments into crypto startups, although there may also be negative consequences for current investors.
Political Consequences and Discussion Around Elon Musk
Despite his condemnation of the bill, Elon Musk continues to attract attention. New polls indicate that a majority of voters support the possibility of creating a new political party under his leadership. This adds another layer of complexity to the current political situation.
The passage of the Big Beautiful Bill will be a significant milestone in American politics, impacting both the economy and the cryptocurrency sector. The future will reveal the consequences for everyday citizens and investors.
