Editor's PiCK
Trump Signs Tax Cut Bill…"Surge in Demand for Virtual Assets Possible"
Summary
- President Trump’s signature on the tax cut bill has focused market attention on its impact on the virtual asset market.
- It was stated that a weaker U.S. dollar could increase demand for virtual assets such as Bitcoin (BTC).
- It was reported that the future policy response of the Fed will be a key factor determining whether the upward momentum in the virtual asset market continues.
Donald Trump, the President of the United States, has signed the tax cut bill known as 'One Big Beautiful Bill', drawing attention to the potential impact of this bill on the virtual asset (cryptocurrency) market.
On the 4th (local time), BeInCrypto reported, "Trump has signed the tax cut bill, and the virtual asset market is paying close attention to it. If significant new government bonds are issued and the dollar weakens further, demand for virtual assets such as Bitcoin (BTC) is expected to rise."
The outlet added, "However, the Fed’s policy response will be a key factor in determining whether the rally continues. Trump's legislative victory marks the dawn of a new fiscal era and could serve as a structural upward momentum for the virtual asset market in the coming months."
Meanwhile, Trump signed the tax cut bill at a White House event on the 4th, which includes the largest increase in the debt ceiling in U.S. history at $5 trillion, along with sweeping tax cuts and welfare reductions.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
