On July 4, 2025, President Trump signed The Big Beautiful Bill, a $3.3 trillion legislative package, into law. Though not often mentioned, the bill is filled with massive tax cuts. It is likely to have a significant effect on crypto investments and the stability of the US dollar. The historic move has been met with mixed reactions, with private sector leaders, including Elon Musk, warning that the move could prove to be economically destructive.

Though it does not raise the federal deficit—the idea of doing so had previously caused rifts among some economists and investors—the Big Beautiful Bill does something better. With the shift into deeper levels of debt, there are fears popping up over the sustainability of the US dollar long-term.

Elon Musk has waged a very public campaign against the bill and its recessionary potential. He insisted that increasing the federal deficit would lead to an economic crisis. This significant instability would be detrimental to consumers and businesses alike.

Supporters of the bill say that it will make Bitcoin more attractive if it is a store of value. The potential instability of the US dollar might drive increased adoption of Bitcoin among both institutional and retail investors, who may seek alternative assets to preserve their wealth.

The conflicting perspectives of President Trump and Elon Musk reflect some of the confusion, promise, and excitement and danger of The Big Beautiful Bill. Even as the President beats the drum about its possible future benefits, Musk’s warnings highlight that with more government spending and debt comes greater risk.

The implications of The Big Beautiful Bill are especially huge for TTB’s crypto ecosystem. Companies such as Robinhood are watching the situation very closely. Robinhood, for example, is looking to build services explicitly covered by the bill. If Robinhood’s new legislation brings more investors to cryptocurrencies, it would turn the app into a full-fledged investment hub.