July 5, 2025
Ibiam Wayas
On Friday, President Trump signed the “Big Beautiful Bill” into law, after several criticisms of the bill, including from Elon Musk.
The bill spells tax relief for a certain class of people, including a $4.5 trillion tax cut plan. However, there were no crypto provisions stated in the bill whatsoever.
Efforts were actually made to include amendments to the cryptocurrency tax code that would reduce the burden on crypto users. However, they did not make it to the bill.
Despite the absence of a crypto provision in the bill, some believe the Bitcoin and crypto market could benefit from the bill.
There is one aspect of the bill, the most criticized, which could see the US national debt ceiling spike by a record $5 trillion.
The adverse effect could see investors flee to inflation-resistant assets like gold, Bitcoin, etc., according to analysts.
“More debt can lead to more money printing. That’s good for BTC in the long run,” said crypto analyst Ranjay Singh.
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