Debt Ceiling News Pumps BTC

Crypto Curious


Let's go straight into some market talk. Is it all around what's happened with the debt ceiling, do we think? Or is there a bit more to it? I'm not sure, but that news about the debt ceiling has really pushed up all asset classes, and Bitcoin had a bit of a shakeout last week. Even you had a bit of a panic sell trace, but we're back to the races now. Police. I don't know if I had a panic sell. Come on. We're back to the pre -sell -off levels. I guess it was the debt ceiling, which you can give a bit of an update to. Let's talk about that. Crypto prices had a nice little pump on Sunday night with the news that the US lawmakers had ended their stalemate over the government's debt ceiling debate. As part of the deal agreed between President Joe Biden and Republican House Speaker Kevin McCarthy, the plans are a 30 % tax on crypto mining also has been shelved as part of this deal. So I think what exactly was the deal as well? There's no debt ceiling until January 2025? I mean, that's interesting. It's the kicking the can down the road scenario that every country is doing basically, but particularly America has been leading the way for well over a decade. I'm certainly no financial expert, but what I do know is if you keep printing money, money is going to be useless. Absolutely. We've been on the way there for a long time. I'm sure that's why many people are in crypto. I didn't see this coming. I thought they'd sort of let what needs to happen happen, but how much further can they go? They sort of keep making their own rules and, like I said, keep kicking the can down the road. So the inevitable will happen at one point or another. All they're doing is, in my opinion, making what will inevitably happen

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