“Bitcoin solves this problem”-The U.S. Infrastructure Act will increase the U.S. debt mountain by $250B


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.

Fed balance sheet chart.Source: Federal Reserve

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.

related: Before the expiration of the $625 million option on Friday, the Bitcoin bulls broke the $40,000 mark

Traders have mixed views on its market impact, and the popular Twitter account Pentoshi believes that Bitcoin has overcome more significant setbacks.

Other macro signals are still more moderate, and the dollar currency index (DXY) has faltered after the recent volatility.

DXY 1-day candlestick chart. Source: TradingView