The latest "Universal Tax Cut 2.0" plan thrown out by Trump has shocked the market like a bomb. He directly stated that he wants to cut corporate taxes to 15% and halve capital gains taxes. Wall Street hasn't reacted yet, but Bitcoin has already surged by 10%, and gold has simultaneously reached a historical high—this isn't a tax reform plan, it's clearly a promotion for hard currency. But the devil is in the details; page 27 of the draft specifies in very small print that cryptocurrency transactions will be subject to a brand new tax form, which sends chills down the spines of big players in the crypto world.

The most clever aspect is the timing; this plan was intentionally announced 72 hours before the Federal Reserve's interest rate meeting. Now the market is completely confused— the bond market is betting on tax cuts stimulating inflation, the stock market is gambling on a surge in corporate profits, and the cryptocurrency market has automatically switched to a "fiat currency devaluation" trading mode. Goldman Sachs worked overnight to adjust their models, estimating that if the plan is passed, the U.S. fiscal deficit will directly soar past $20 trillion, which is equivalent to writing a love letter to Bitcoin.