Tyler Winklevoss: “Increasing the US debt ceiling - advertising Bitcoin on $2.5 trillion" – Bits Media

The US Congress approved raising the national debt limit by another $2.5 trillion. According to experts, this decision will have a beneficial effect on the Bitcoin market.

Congress voted for a bill to raise the US debt ceiling 221 Deputy, against 209. IN As a result, the law was passed by Congress and submitted to US President Joe Biden for signature. Expected, that the leader of the nation will soon sign it. If he does it, bill
will increase the federal government's debt limit by $2.5 trillion to $31.4 trillion.

This decision will once again postpone the threat of a US federal default at least until 2023 of the year. Undoubtedly, this will accelerate the rate of inflation in the US and lead to increased investment in gold and bitcoin.

Famous cryptocurrency investor and founder of Heisenberg Capital Max Kaiser (Max Keiser) stated, that the bill to raise the US debt ceiling created “ideal conditions for Bitcoin growth, as the US government capitulated to hyperinflation".

"I don't want to see America collapse, but I don't have many dollars, so I don't care".

Analyst Scott Melker (Scott Melker) known under the pseudonym "Wolf of all Streets" said, that Bitcoin has a low correlation to traditional assets. At the same time, he admits, that Bitcoin is a high-risk asset even for an experienced investor, following the HODL strategy.

"Short-term news, such as the inevitable increase in the debt ceiling, this is a minor event on the path of bitcoin. Everyone knows, that the government will continue to print money and, if necessary, raise the debt ceiling, which will significantly impact the value of Bitcoin and its use case as an inflation hedge.".

Co-founder of the Gemini exchange Tyler Winklevoss (Tyler Winklevoss)
wrote on Twitter, that the US Senate's approval of the debt ceiling "would effectively act as an advertisement for Bitcoin on $2.5 trillion". MicroStrategy CEO Michael Saylor (Michael Saylor) holds a similar opinion, He
wrote on Twitter: "It seems, Bitcoin has government support".

At the same time, Huobi experts conducted a study, in which they forecast, that the Fed is gradually moving towards increasing interest rates, what will negatively affect the cryptocurrency market in the future?.