Bitcoin price may get macro boost as BofA says tariff refunds could cool inflation
Bitcoin Bitcoin price may get macro boost as BofA says tariff refunds could cool inflation The tariff refund trade has moved from court hypothesis to Treasury accounting, and the macro picture looks more consequential than traders initially framed it, with traders increasingly watching whether the process can improve Bitcoin prices macro outlook. The US Customs and Border Protection had processed $35.46 billion in tariff refunds as of May 11, including interest, validating 86,874 applications covering 15.1 million entries and finalizing 8.3 million shipments. Up to $166 billion in IEEPA tariff collections qualify for repayment, money owed to more than 330,000 importers across roughly 53 million entries, with a Supreme Court ruling having stripped the President Donald Trump administrations authority to impose them. The processed pool already represents about 21% of the potential maximum, and the rest of the eligible volume is large enough to move both reserves and pricing behavior if payments proceed quickly. Most Bitcoin framing around the refund pool follows a channel in which money leaves the Treasury General Account, bank reserves rise, and risk assets catch a bid. Fed Governor Christopher Waller‘s balance sheet explanation confirms the accounting, noting that when the Treasury makes a payment, the Fed debits the TGA and credits the