The US Congress has approved a massive crypto bill from President Donald Trump worth $3.3 trillion, which may significantly impact the cryptocurrency market.
Trump's Bill Progress
The $3.3 trillion bill, dubbed the 'Big Beautiful Bill', has been passed by the US House. The main goal of the document is to support economic growth through fiscal measures and crypto-friendly legislative initiatives. Donald Trump is leading this initiative, with his loyal supporter, House Speaker Mike Johnson, stating: 'House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda.'
Expectations in the Crypto Sector
The passage of the bill signifies a positive impact on the cryptocurrency sector. An increase in interest and investment in Bitcoin is anticipated as it is actively viewed as 'digital gold' amidst fiscal expansion and rising inflation expectations. Increased disposable income and regulatory clarity may boost investments from both retail and institutional investors.
Comparison to CARES Act
Historical examples such as the CARES Act have shown similar market movements, where fiscal measures led to growth in cryptocurrencies. The passed bill can be compared to previous steps taken in support of crypto assets, which have significantly positively affected their performance in the past. Market sentiments suggest that this could lead to increased activity in the crypto market.
The passage of Trump's cryptocurrency bill may mark an important milestone in market development, increasing investor interest and contributing to further growth of digital assets.
