Bitcoin Eyes Gains from Trump’s Pro-Crypto Push

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Congress passed the Big Beautiful Bill, Trump’s budget proposal, which could benefit Bitcoin, analysts say.

On July 3, the US Congress passed into law the One Big Beautiful Bill Act. President Donald Trump’s bill offers little to the crypto industry, but it could benefit Bitcoin all the same.

Trump’s budget proposal passed in the late hours of July 3 entirely along partisan lines; only two Republicans voted against the controversial bill, which will significantly increase the US government’s borrowing ability. It has drawn significant criticism from Democrats and even from current and former Trump allies like Tesla CEO Elon Musk. 

Notably absent from the bill were proposed amendments to the cryptocurrency tax code. As the bill worked through the Senate, lawmakers attempted to tack on a number of provisions regarding crypto, but to no avail.

Despite the lack of specific crypto provisions, market observers are optimistic about the knock-on effects it will have for Bitcoin, but these are projected to come amid a wider economic upheaval.


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