Big Beautiful Bill Creating Waves in the Crypto Market – Opportunity or Risk?

The Big Beautiful Bill was passed today, marking a significant political moment in the United States. President Donald Trump will officially sign it on July 4 at 5 PM Eastern Time after both the Senate and the House of Representatives approve it, according to The Kobeissi Letter. This includes permanent tax cuts, no taxation on tips, overtime pay, and Social Security, as well as significant spending on border security and defense. According to the summary of the Big Beautiful Bill, the military receives $150 billion and the same amount will be used for border control.

But this comes at a price— The details of the Big Beautiful Bill show it will add about $3.3 trillion to the national deficit. Critics, including Democratic member Hakeem Jeffries, call it unfair, saying it harms the poor by cutting down the whales, food programs, and clean energy benefits. Meanwhile, Republicans celebrate their victory with chants of "USA!". In total, Trump's request was passed by the House with only four votes (218–214). Some Republican members even opposed it. So who voted against the Big Beautiful Bill? Notable names include Thomas Massie and Brian Fitzpatrick, while Chip Roy unexpectedly switched his vote to "yes." The impact of the Big Beautiful Bill on cryptocurrency: Boost or trouble? This could create mixed results for the cryptocurrency world. On one hand, it could be beneficial. The Big Beautiful Bill Trump includes tax cuts for corporations and transfer businesses. This could benefit blockchain startups and mining companies by allowing them to deduct more expenses, such as R&D and equipment. Additionally, wealthier Americans saving money from these tax cuts may invest more in cryptocurrency. But there are also potential downsides. This cuts down the health programs and food aid. This can reduce the purchasing power of low- and middle-income Americans—those who might invest in cryptocurrencies. Additionally, adding $3.3 trillion to the deficit could lead to higher interest rates, making riskier assets like cryptocurrencies less attractive in the long run. In summary, while some wealthy investors and companies may benefit from this, ordinary people will likely find it difficult to gain advantages. The cryptocurrency market reacts: Confidence soars This political news has had an immediate impact on the cryptocurrency market. This has prompted a small but notable price increase. The global market capitalization rose by 0.37%, reaching $3.37 trillion. Additionally, the price of Bitcoin (BTC) is trading at $109,165.07, up 0.1%, and the price of Ethereum (ETH) is at $2,579.57, up 0.40%. Even the Official Trump Memecoin (TRUMP) is showing an increase, rising by 0.11%, trading at $8.85.

This shows that the passage of the Big Beautiful Bill has boosted investor confidence, at least for now. However, the coming weeks will be more interesting as the Cryptocurrency Week is scheduled at Congress starting on July 14, 2025. During that week, lawmakers will consider other legislation such as the CLARITY Act, the GENIUS Act, and the State Oversight Against CBDC Act. These could shape how cryptocurrency is regulated in the United States. Is Elon Musk still in the game? Rumors about America's party are surfacing. Is Elon Musk still in the game? Rumors about America's party are emerging. While Elon Musk opposed the bill and even called it the "Big Ugly Bill", he has not said anything after it was finally passed today. However, he may be planning something big behind the scenes. A new perspective on Trump Musk is forming as new polls show that 40% of voters would support a new political party initiated by Elon Musk—called the "Elon Musk American Party". According to a report by Quantus Insights, Musk is still receiving public support. Earlier, he posted on X, "It’s time for a new political party that truly cares about the people." On Polymarket, predictions indicate that he may not launch the party immediately but possibly on December 31, 2025, with 42% saying he will create his own political movement before the year ends.

Conclusion The Big Beautiful bill passed today is clearly a major event and it is changing everything - from Wall Street to the cryptocurrency world, and even in politics with the rumored idea of Elon’s American Party. Although this may boost business and tax savings for some, it could harm ordinary Americans through cutting down the whales and increasing debt. However, it brings some optimism about cryptocurrency, but only time will tell if this effect will truly last.