The US House of Representatives passed a bill that would raise the debt ceiling a few days before it went into default, with BTC dropping 2.60 percent.
The House of Representatives passed a bill to raise the debt ceiling on Wednesday, bypassing an important legislative hurdle just days before the US defaults. The final number of votes in the House of Representatives was 117 to 314. An additional 149 Republicans and 165 Democrats supported the bill. Republican Speaker of the House of Representatives Kevin McCarthy opposed the deal he brokered with 71 members of the conference and President Joe Biden. As a result of the events, cryptocurrencies were negatively affected and instant decreases were seen in BTC. BTC, which came from $ 27,300 to $ 26,600, created an atmosphere of panic in investors.
Remarks From Kevin McCarthy
On a victory lap after the bill was passed, McCarthy downplayed concerns about divisions within the House Republican conference. In addition, McCarthy celebrated the policy concessions he achieved in his negotiations with Biden.
Kevin McCarthy expressed his views on the issues as follows;
“Before I voted for president, I was thinking about this day because I knew the debt ceiling was coming. And I wanted to write history. I wanted to do something that no other Congress has done,” McCarthy told reporters after the vote. “We all made history tonight.”
