Coin Stories News Block: Massive Trump Spending Bill, BlackRock’s Bitcoin ETF Tops its S&P Fund, Strategy Poised for S&P 500 Spot
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Jul 7, 2025 This week brings a whirlwind of financial news, starting with Trump's massive spending bill and its implications on the national debt. BlackRock's Bitcoin ETF outperforms its S&P fund, showcasing growing institutional confidence in cryptocurrency. The podcast dives into Bitcoin's rising popularity, with new survey data showing a spike in ownership among Americans. As financial giants pivot towards crypto, the scene is set for potentially game-changing developments in the market and regulatory landscape.
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Impact of Trump's Spending Bill
- Trump's massive spending bill will add more than $3.3 trillion to the U.S. national debt over the next decade.
- The bill also lowers tax revenues, meaning the deficit will likely worsen significantly.
Treasury's Risky Debt Strategy
- The U.S. Treasury plans to issue short-term T-bills to manage rising debt costs.
- This strategy risks higher interest costs if short-term rates rise and forces the Fed into a tough position.
Fiscal-Monetary Showdown Unfolding
- President Trump is pressuring Fed Chair Jerome Powell to cut interest rates to lower government borrowing costs.
- Powell resists, but political and fiscal pressure may eventually force rate cuts, benefiting Bitcoin as a hedge.