Senators Toss Bitcoin a Bone: Why Old Sam Clemens Just Bought the Dip 🐾💰

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Well now, if you were hoping Congress would saddle up and ride to the rescue of your favorite cryptocurrency, I regret to inform you the cavalry must have missed the memo. The lobbyists for the “number-go-up” bunch spent weeks praying over a potluck stew of wishful thinking—friendly words about airdrops, staking (whatever that is), and the grand ol’ tradition of taxing miners so much you’d think gold panned itself. Senator Cynthia Lummis even fired off a hail-Mary amendment so miners wouldn’t get taxed coming and going—block reward and sale. All that earnest political footwork wound up dumped unceremoniously beside last season’s campaign promises.

Why Bitcoin still wins

Here comes the punchline, and it’s better than half the jokes Tom Sawyer ever pulled: the bill’s brutal ugliness is now rocket fuel for anything scarce, stubborn, and allergic to government meddling—chief among them, our friend Bitcoin. 🚀

  1. Debt spiral economics – Imagine adding $5 trillion to the debt ceiling and expecting politicians to pay it off. I’ll wait. The only thing Congress prints faster than paper is money. Meanwhile, Bitcoin’s cap at 21 million makes it rarer than a straight answer from a senator.
  2. Inflation hedging dĂ©jĂ  vu – Gold and oil shot up quicker than gossip in a small town; Bitcoin played follow-the-leader and hit $109,000 faster than a catfish wriggling off a hook. Nigel Green says everyone’s running for goods that can’t be printed—finally, investors looking for something with a backbone.
  3. 2024 halving tailwind – With supply growth now slower than a Sunday sermon, ETF money, corporate FOMO, and fiscal shenanigans galore, supply and demand are about to have a slapstick brawl fit for a Twain short story.

To put it plain, if you think the powers-that-be care about the dollar’s value, I have a raft to sell you. Bitcoin cruised past $109,000 on a lazy Sunday, just a sneeze away from a new all-time high. Remember all those wild forecasts calling for $200,000 Bitcoin in 2025? Well, try not to keel over from shock, but they might actually be right—for once.

Bitcoin looks primed for a new all-time high. (Source: BNC Bitcoin Liquid Index) 📈

The moral math nobody wants to do

This new bill hands millionaires an extra 3% after-tax, quadruples SALT deductions for the upper crust, and jacks up estate-tax exemptions to $15 million. Medicaid and SNAP take a friendly whacking, while allies get slapped with tariffs fatter than a Mississippi catfish. Even the economists are choking on their corn cob pipes, calling it “a permanent re-ordering of the trade and spending model.”

Sure, it’s grim—unless you’ve parked your coins outside the blast radius of this currency demolition derby. More debt → more inflation → higher asset prices. This whole sorry spectacle is practically an advertisement for trusting something hard-capped and cranky, like Bitcoin.

Washington’s Crypto Week consolation prize

But hey, don’t go thinking Congress forgot crypto entirely. Lummis is back with a plan to rescue miners—again—and toss in a $300 de minimis exemption so spending your crypto on a cheeseburger doesn’t land you in IRS purgatory. Next, the House GOP will hold “Crypto Week” (catchy, boys), with their sights set on:

  • CLARITY Act – because it’s only taken a decade for regulators to pick up a dictionary;
  • Anti-CBDC Surveillance State Act – one heroic attempt to swat the Fed’s digital dollar from the sky;
  • GENIUS Act – stablecoins finally get their own rulebook, possibly written in crayon.

If all that passes, the regulatory clouds part just as fiscal recklessness hits fever pitch. If you blink, you might miss Bitcoin leaving the other assets in the dust. Betting against it right now? That’s one bet Huck Finn wouldn’t take.

Three contrarian reasons to stack sats right now

Trump’s grand bill is a fiscal sugar rush, Main Street’s queasy hangover in the making, and Bitcoin’s “perfect storm.” If you’ve ever stood on a muddy riverbank pondering the right time to dive into Bitcoin, the universe just dangled a neon sign in front of you, blinking: now’s as good a time as any—maybe better. đŸŽ©âœš

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2025-07-07 03:43