The Big Beautiful Bill, Trump’s keystone budget reconciliation effort, just passed a final vote in the House of Representatives. The President is preparing a signing ceremony tomorrow, on the 4th of July.
Although the bill lost many of its crypto/AI-specific provisions, it has huge implications for the US economy. As its fallout spreads, it will doubtlessly impact the crypto market to some extent.
Trump Wins on Big Beautiful Bill
The Big Beautiful Bill is a key piece of fiscal legislation that’s already been causing disruptions in the crypto market. Through its riders and amendments, the bill covers a monumental number of budget-related subjects like healthcare, ICE funding, and more.
Today, the House finally voted to approve it, allowing President Trump to sign it into law tomorrow.
However, the Big Beautiful Bill is causing a lot of controversy, even within the crypto industry. Elon Musk is a ferocious opponent of the bill, claiming that its substantial expansions to the federal deficit could wreck the US economy.
Also, many amendments directly related to crypto and AI have failed, leaving the bill’s relation to Web3 somewhat uncertain.
So, what can the community expect from the Big Beautiful Bill? After it passed the Senate, this question became more prominent.
Essentially, it seems bullish for crypto investors, especially those outside the United States. To be sure, some of its proposed tax reforms could juice US retail investment, but this seems like a marginal benefit.
Instead, the most salient issue is Bitcoin’s status as a hedge against currency inflation. Analysts have already been predicting a crypto boom since the US Dollar Index hit a multi-year low last week.
The Big Beautiful Bill will likely make the dollar even weaker in the short-term, in addition to fueling fiscal uncertainty.
At the moment, it’s unclear which altcoins would stand to benefit the most, even if BTC gains are likely.
The top performers will likely be large-cap assets, or infrastructure and utility tokens that can benefit from increased trade volumes and capital inflows. Meme coins, however, seem less likely to gain.
Ultimately, the Big Beautiful Bill seems likely to introduce significant chaos to the US financial system.
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