U.S. President Donald Trump is proposing a new bill titled 'One Big Beautiful Bill Act' that could have a significant impact on the cryptocurrency market, particularly Bitcoin.
Flow of Money and Impact on Bitcoin
In a recent tweet, popular crypto trader CryptoBusy noted that the proposed $4.5 trillion tax cuts would leave individuals and companies with more money. Extra cash often finds its way into hard assets like Bitcoin, especially when there are concerns about inflation or a weakening dollar.
Growing Debt and Bitcoin's Safety
CryptoBusy also warns that this bill would add approximately $3.3 trillion to America’s debt over the next decade. Higher debt often leads people to seek safer assets, and this is where Bitcoin comes in, serving as a haven against a faltering dollar.
Trump's Crypto-Friendly Approach
Additionally, Trump has shown a more favorable attitude toward crypto than many expected. Reduced regulation and clearer rules could encourage major companies to consider adding Bitcoin to their balance sheets.
The 'One Big Beautiful Bill Act' is currently under discussion in Congress, and its passage could significantly impact the cryptocurrency market, especially Bitcoin, which has already seen price increases.
