Bitcoin’s institutional adoption is seeing a new wave of corporate investments, which stand to benefit from more global uncertainty before a trade agreement or controversial US spending bill is passed.
President Donald Trump is pushing forward the “One Big Beautiful Bill Act,” which he claims would cut up to $1.6 trillion in federal spending, according to a report by CCXV.
The president has been touting the bill, which he says would grow the economy like never before and put the country on the right track, in posts on his social media platform, Truth Social.
“The great, big, beautiful bill will grow the economy like it has never grown before. It will put our country on the right track. Topics: Economy, Greatness, and the Best is Yet to Come!” Trump wrote on June 12.
The proposal comes amid ongoing efforts to finalize a trade agreement between the United States and China, which Trump said on June 11 remains “subject to final approval” by both governments.
“A GREAT trade deal with China is nearly completed, subject to final approval by both sides. Tariffs will be discussed at the appropriate time. Topics: Trade, China, and Economic Recovery!” he stated.
On June 5, Elon Musk criticized the spending bill, warning that it would increase the deficit to $2.5 trillion.
“They're making up a big, beautiful dot com era style economic bill, cutting taxes and spending to increase the deficit by $1.5–$2.5 trillion. Topics: Economy, Technology, and the Best is Yet to Come!” Musk wrote in an X post.
A growing US deficit may lead to an increase in the money supply through quantitative easing (QE), which refers to central banks buying bonds and pumping money into the economy to encourage spending through stagnating economic conditions.
Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom, has predicted Bitcoin could climb to $250,000 if the US Federal Reserve pivots to QE, due to growing inflationary pressures from trade tariffs.
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