The U.S. tax bill may harm Bitcoin (Bitcoin) And cryptocurrency holders will “continue to plunder future generations,” said Cameron Winklevoss.
according to New estimate, The proposed infrastructure bill currently under discussion in Washington will increase debt by 1/4 trillion US dollars.
Bill may increase debt by $256 billion
As the controversial bill passes the government, cryptocurrency voices continue to warn of potential tax nightmares, which they believe can still be easily avoided.
As Cointelegraph Report, The language in the bill may impose inappropriate requirements on currency holders and companies.
Effort is Currently ongoing Senators and the cryptocurrency industry who support Bitcoin have changed the wording of the bill to ease the burden in the future.
Nevertheless, Winklevoss said that the bill itself has caused economic concerns.
“The Infrastructure Act is estimated to increase the federal budget deficit by another $256B,” Gemini Exchange Co-founder Tweet Friday.
“It will not be paid in full. The plundering of future generations continues. Bitcoin solves this problem.”
His remarks were made a week after the Fed’s balance sheet set a new record, which exceeded $8.24 trillion for the first time on July 26.
More broadly, regardless of the future debt impact, global central banks tend to continue to buy assets and label new variants of the coronavirus as a driving force.
Minneapolis Federal Reserve Chairman Neil Kashkari said on Thursday: “The problem now is Delta Air Lines: If Delta Air Lines causes the labor market to recover more slowly, then I will take a step back.” lead Reuters reported.
Be cautious about BTC price reaction
Bitcoin’s short-term headwind is therefore affected by the progress of the bill, which is Already predicted Become a major market force this week.
Traders have mixed views on its market impact, and the popular Twitter account Pentoshi believes that Bitcoin has overcome more significant setbacks.
We did experience a worse situation, and the market value of Btc is 40.2k
-Pentoshi will not DM you (@Pentoshi1) August 6, 2021
Other macro signals are still more moderate, and the dollar currency index (DXY) has faltered after the recent volatility.