President Trump Approves $5T Debt Ceiling Increase: What Next for BTC?
- The U.S. will increase its national debt ceiling by $5 trillion, thus overshadowing Doge savings of $160 billion.
- The global money supply will rise exponentially in the coming quarters and inherently increase cash inflow to Bitcoin.
- BTC price has been trading at a crucial crossroads that could either lead to a capitulation below $100k or towards a new ATH.
The United States celebrated its Independence Day with President Donald Trump signing into law his signature tax cut and spending bill. The One Big Beautiful Bill Act narrowly passed through Congress, a move that divided the two most influential individuals in the crypto industry; Elon Musk and President Trump.
The Big Beautiful Bill received a share of opposition for its spending clauses. Notably, the bill sets a $5 trillion debt ceiling increase, thus allowing the U.S. Treasury to borrow beyond its January 2025 reinstated limit of approximately $36.1 trillion.
“What good is Doge saving $160 billion when this bill increases the debt ceiling by $5 trillion? It makes a mockery of the work,” Musk recently noted.
Bitcoin Emerges as a Better Alternative
The signature tax cut and spending bill w…
The post President Trump Approves $5T Debt Ceiling Increase: What Next for BTC? appeared first on Coin Edition.
Read More
President Trump Approves $5T Debt Ceiling Increase: What Next for BTC?
- The U.S. will increase its national debt ceiling by $5 trillion, thus overshadowing Doge savings of $160 billion.
- The global money supply will rise exponentially in the coming quarters and inherently increase cash inflow to Bitcoin.
- BTC price has been trading at a crucial crossroads that could either lead to a capitulation below $100k or towards a new ATH.
The United States celebrated its Independence Day with President Donald Trump signing into law his signature tax cut and spending bill. The One Big Beautiful Bill Act narrowly passed through Congress, a move that divided the two most influential individuals in the crypto industry; Elon Musk and President Trump.
The Big Beautiful Bill received a share of opposition for its spending clauses. Notably, the bill sets a $5 trillion debt ceiling increase, thus allowing the U.S. Treasury to borrow beyond its January 2025 reinstated limit of approximately $36.1 trillion.
“What good is Doge saving $160 billion when this bill increases the debt ceiling by $5 trillion? It makes a mockery of the work,” Musk recently noted.
Bitcoin Emerges as a Better Alternative
The signature tax cut and spending bill w…
The post President Trump Approves $5T Debt Ceiling Increase: What Next for BTC? appeared first on Coin Edition.
Read More