U.S. President Donald Trump has signed a $3.3 trillion spending bill, which may affect the country's fiscal strategy and the cryptocurrency market.
Signing of the Bill
President Trump signed the legislation referred to as 'One Big Beautiful Bill'. This signing marks a shift in fiscal strategy but may also lead to increased inflation.
Absence of Crypto Provisions
Despite the substantial spending, the bill does not include specific provisions for cryptocurrencies. The allocated $3.3 trillion will go towards other fiscal priorities such as employment and healthcare. Key figures involved in this process include Speaker Mike Johnson and Senator Cynthia Lummis.
Impact on Cryptocurrency Market
Although there are no immediate market consequences for cryptocurrencies at the time of the signing, experts suggest that inflation fears may increase interest in Bitcoin. Analysts note that historically, fiscal expansions often boost interest in cryptocurrencies as a potential hedge against rising prices. Economists predict that this trend could continue following the enactment of this bill.
The signing of 'One Big Beautiful Bill' by Trump opens up potential fiscal implications that may resonate within the cryptocurrency market, even in the absence of direct regulations so far.
