## Bitcoin's Record High Driven by Macroeconomic Factors 10x Research suggests Bitcoin's latest all-time high is fueled by fundamental macroeconomic shifts rather than mere speculation. Their analysis points to the US's significant debt ceiling increase and substantial fiscal deficit spending as key drivers. The imminent release of a cryptocurrency policy report from a task force under former President Trump is also expected to shape the landscape. ## BTC as a Hedge Against Fiat Devaluation Bitcoin is increasingly seen as a hedge against fiat currency devaluation due to unlimited fiscal spending. Furthermore, the upcoming FOMC meeting could further solidify BTC's role in this context. The cryptocurrency market experienced gains in July, amplified by call option purchases and short squeezes. This recent price surge underscores the growing confidence in Bitcoin's value proposition amidst global economic uncertainty. This is a different beast than the 2021 bull run. ```

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