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Big news just dropped right before the Fourth of July — a controversial mega bill has been approved by the House, and it’s stirring up a lot of buzz across the crypto and Bitcoin communities. What does this mean for Bitcoin, crypto markets, and the broader financial landscape? Let’s dive into the details and why now might be the perfect time to load up on Bitcoin.
The Controversial Megabill and Its Impact on Crypto
The bill, often referred to as "Trump’s big beautiful bill," sparked intense debate as it passed after a full day of discussions. It includes a mix of tax cuts, tax breaks, spending cuts, and increased spending, making it impossible to please everyone. Even Elon Musk has voiced strong opposition, calling it horrible due to its massive spending and impact on the US deficit.
One key point for crypto enthusiasts was the rumor that Senators Lumis and David Bailey were pushing for a provision to eliminate capital gains tax on Bitcoin transactions. Unfortunately, that provision was removed from the final version. Had it been included, it would have been a monumental win for Bitcoin holders, but the bill left it out.
So, What’s the Big Deal About the Deficit?
This bill is expected to increase the US deficit by another $4 trillion, adding to the already staggering $37 trillion-plus national debt. This huge increase in deficit spending means more borrowing and dollar printing, which worries many investors. But here’s the silver lining — this cycle is exactly why so many are turning to Bitcoin.
More dollars printed and more debt accumulated generally lead to currency devaluation, and Bitcoin’s scarcity and decentralized nature make it an attractive hedge. This bill could very well accelerate corporate and retail interest in Bitcoin, pushing more investors to stack sats as a safeguard against inflation and dollar weakness.
Bitcoin’s Current Momentum and What Lies Ahead
Following the passage of the bill, Bitcoin’s price has been creeping upward, recently flirting with the $11,100 mark and currently sitting around $10,970. The momentum is steady, and many expect the upcoming weeks to be even more exciting.
There are three major bills on the horizon that could further shape the crypto landscape:
- The Genius Act: A bill focused on crypto innovation and regulation.
- The Clarity Act: Encompasses all of crypto, aiming to provide clearer regulatory frameworks.
- Anti-CBDC Surveillance State Act: A bill opposing central bank digital currency surveillance, protecting privacy.
These acts could be game changers, potentially creating a more favorable environment for Bitcoin and other cryptocurrencies. The next couple of weeks are shaping up to be enormous for crypto regulation and adoption.
Bitcoin’s Volatility and Institutional Accumulation
Despite what some may think, Bitcoin is not as volatile as it seems right now. In fact, its volatility is as low as during the bottom phases of previous crypto winters, like in 2020 and 2023, when momentum was almost non-existent. This low volatility signals a strong accumulation phase, with many investors quietly loading up.
Institutional interest is booming. For example:
- MetaPlanet is leading a group seeking to acquire DV8 on the Thailand Stock Exchange, expanding Bitcoin’s presence in Southeast Asia.
- Figma recently joined the corporate Bitcoin wave with a massive $70 million ETF investment.
The train has left the station, and the climb toward Bitcoin’s all-time high looks promising with many metrics indicating we’re nowhere near the top yet. One notable pattern is the “Y-Coff accumulation,” a strategy where whales and institutions accumulate Bitcoin to shake out retail investors before pushing prices higher.
Beyond Bitcoin: ETFs and Innovations in Crypto
Bitcoin’s ETF market is thriving, making it one of the highest revenue-generating ETFs out of nearly 1,200 funds. But Bitcoin isn’t the only crypto gaining traction in the ETF space. Recent developments include:
- Solana just secured an ETF through a complex Wall Street maneuver.
- Pending ETFs for Cardano, Avalanche (AVAX), Litecoin, and Dogecoin are in the pipeline.
- Aptos is now in the mix, with Bitwise filing for an Aptos ETF approval following key ecosystem upgrades.
Aptos’ Innovations: Shelby Hot Storage and DeFi Expansion
Aptos has been making waves with two major developments:
- Aave Deployment: Aave, one of the largest decentralized finance (DeFi) projects, expanded to Aptos with its first non-EVM deployment, marking a significant milestone.
- Shelby Hot Storage: Aptos introduced Shelby, dubbed “Web 3’s first cloud-grade infrastructure.” This is a high-performance, decentralized hot storage solution designed for real-time data, video streaming, AI pipelines, token-gated content, and dynamic NFTs.
Shelby offers subsecond reads and high throughput via a dedicated fiber network, not reliant on the public internet. It’s chain-agnostic, supporting other blockchains like Solana, Ethereum, and Cosmos, while maintaining decentralization benefits such as monetization, data protection, and eliminating single points of failure.
Interestingly, Shelby is compared to Walrus, a cold storage solution by Suie, which is optimized for archiving and backups with lower throughput needs. Shelby’s hot storage targets real-time, high-demand use cases, making it a compelling innovation.
Why Now Is a Good Time to Invest in Crypto and Bitcoin
With the megabill’s approval increasing the US deficit and more dollar printing expected, Bitcoin’s role as a hedge becomes even more critical. Coupled with growing institutional adoption, ETF approvals, and groundbreaking innovations like those from Aptos, the crypto market is set for an exciting ride.
If you haven’t started accumulating Bitcoin or other promising cryptos yet, now is a prime moment to consider it. The signals, patterns, and macroeconomic environment all point toward continued growth and adoption.
Wrapping Up: Enjoy the Fourth of July and Stay Informed
As we head into the holiday weekend, it’s a great time to relax with family and friends, fire up the grill, and maybe reflect on the incredible momentum building in crypto. While there might not be a video update tomorrow unless Bitcoin breaks new highs, the next couple of weeks promise to be pivotal for Bitcoin and the broader crypto ecosystem.
Stay safe, keep stacking sats, and enjoy the fireworks!
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