Trump’s Big Beautiful Bill Passed: Elon Musk Ready to Challenge?

Big Beautiful Bill Passed: Crypto Confidence and Elon Musk’s Next Move

The Big Beautiful Bill passed today, marking a huge political moment in the United States. President Donald Trump will officially sign it on July 4 at 5 PM ET after both the Senate and House approved it, according to The Kobeissi Letter. This includes permanent tax cuts, no taxes on tips, overtime, and Social Security, and large spending on border security and defense. According to the Big Beautiful Bill summary, the military gets $150 billion, and the same amount goes toward border control.

Source: X

But this comes at a cost—Big Beautiful Bill details show it will add about $3.3 trillion to the national deficit. Critics, including Democrat Hakeem Jeffries, called it unfair, saying it hurts the poor by cutting Medicaid, food programs, and clean energy benefits. Meanwhile, Republicans celebrated the win with “USA!” chants.

In total, Trump's request passed by House by only four votes (218–214). Some Republicans even opposed it. So who voted against the Big Beautiful Bill? Notable names include Thomas Massie and Brian Fitzpatrick, while Chip Roy surprisingly switched his vote to “yes.”

Big Beautiful Bill’s Impact on Crypto: Boost or Trouble?

This could create mixed results for the crypto world. On one side, it might help. The Big Beautiful Bill Trump includes tax relief for corporations and pass-through businesses. This could benefit blockchain startups and mining firms by allowing them to deduct more expenses, like R&D and equipment. Also, wealthier Americans who save money from these tax breaks might invest more in crypto.

But there are possible downsides too. This slashes health programs and food aid. This could lower spending power among low and middle-income Americans—people who might otherwise invest in crypto. Also, adding $3.3 trillion to the deficit could cause interest rates to go up, making riskier assets like crypto less attractive in the long run.

In short, while some rich investors and companies might gain from this, but everyday people could struggle to benefit.

Crypto Market Reacts: Confidence Surges

This political news had an immediate effect on the crypto market. This has fueled a small but noticeable rally. The global market cap jumped 0.37%, reaching $3.37 trillion. Also, Bitcoin price (BTC) is trading at $109,165.07, up 0.1% and Ethereum price (ETH) stands at $2,579.57, rising 0.40%. Even the Official Trump Memecoin (TRUMP) is showing gains, up 0.11%, trading at $8.85.

Source: CoinMarketCap

This shows that the Big Beautiful Bill passed has boosted investor confidence, at least for now. But the coming weeks will be more interesting as Crypto Week is planned in Congress starting July 14, 2025. During that week, lawmakers will review other acts like the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act. These could shape how crypto is regulated in the U.S.

Elon Musk Still in the Game? America Party Rumors Rise

While Elon Musk opposed the bill and even called it the "Big Ugly Bill", he hasn’t said anything after today’s final passage. However, he might be planning something huge behind the scenes. A new Trump Musk news angle is forming as fresh polls show 40% of voters would support a new political party started by Elon Musk—called the "America Party Elon Musk."

According to a report by Quantus Insights, Musk is still gaining public support. He earlier posted on X, “Time for a new political party that actually cares about the people.” On Polymarket, predictions say he might not launch the party right after this but possibly by December 31, 2025, with 42% saying he’ll create his own political movement before the year ends.

Source: Polymarket

Conclusion

The Big Beautiful Bill passed today is clearly a big event, and it's already shaking things up—from Wall Street to the crypto world, and even in politics with Elon’s rumored America Party idea.

While this may boost business and tax savings for some, it could hurt everyday Americans through reduced benefits and rising debt. It does provide some optimism in cryptocurrency, though, but only time will say whether the effect really is lasting.

Disclaimer: This article is not an investment advice and informational purposes only. Always research on your own before making any financial decision.