Bitcoin's Rise Linked to 'Big and Beautiful Bill'—The Kobeissi Letter

The Kobeissi Letter, a financial market analysis newsletter, stated in November that Bitcoin (BTC) is serving as a hedge against the U.S. fiscal deficit.

Bitcoin has risen 55% from its April 2025 low, recording an all-time high of $115,000, while the U.S. dollar has fallen about 11% over the same six-month period. The newsletter highlights a correlation between these two phenomena.

At the time of writing, the U.S. Dollar Index (DXY) has fallen approximately 10% since the beginning of the year.

Analysts from The Kobeissi Letter noted that in April of this year, Bitcoin...