TRUMP: Bitcoin Strategic Reserve Announcement

Hey, it’s Archie!

It’s been a huge week in Bitcoin!
The White House is FINALLY going to announce a Bitcoin Strategic Reserve on Friday, just as the price consolidates around $90,000.

Let’s dig in! 🙌

🚨Today’s Issue

• Bitcoin Strategic Reserve

• Belarus to start Bitcoin Mining

• IMF pressures El Salvador

NEWS

Bitcoin Snippets

• BlackRock: "If every millionaire in the US asked their financial advisor to get them 1 bitcoin, there wouldn’t be enough."

• Trump Pump: Someone took out a $200m 50x leveraged position ahead of this pump, which was catalysed by Trump’s announcement that a crypto ‘strategic reserve’ will proceed. Interesting…

• Washington Support: House of Representatives to launch a bipartisan 'Congressional Crypto Caucus' to push crypto-friendly policies in Congress.

• SEC drops cases: SEC drops cases against Kraken, Coinbase, Gemini, and Robinhood, among others.

• Bitcoin Volatility: Bitcoin has the most volatile trading day ever on a green candle.

• Peter Schiff: "Bitcoin is digital gold, which is better than analog gold. So let's create a Bitcoin reserve...". We knew that you knew, Pete. 😅
  

• BlackRock: Adds Bitcoin to its model portfolios at ~2% allocation.

• Michael Saylor: We “have a strategy to exceed” 500,000 Bitcoin. Saylor’s company Strategy is just 904 $BTC away from holding 500,000 Bitcoin

• Dubai: Dubai's biggest bank NBD to launch Bitcoin and crypto services.

• Brazil: Discount coupon provider Méliuz buys $3.47m Bitcoin for its corporate treasury, becoming the first publicly listed company in Brazil to do so.

BITCOIN STRATEGIC RESERVE

Trump to Announce Bitcoin Strategic Reserve on Friday

• Trump Green-Lights Crypto Strategic Reserve: President gave the go ahead for his crypto taskforce to pursue a Crypto Strategic Reserve.

• SOL, XRP, ADA: Initial post by Trump did NOT mention Bitcoin. The announcement drew strong reactions from Bitcoin maxis, crypto degenerates, and from the broader investment community about the merits of including ‘alt-coins’ in a potential reserve. Trump quickly posted a follow up to say “Obviously” Bitcoin would be included.

• The reactions across the board were in unanimous in understanding, if not outright support: Bitcoin makes sense as a strategic reserve. No crypto passes the test to qualify. In other words: there is no second best! 😉

NATION STATE BITCOIN MINING

Belarus President Orders Bitcoin Mining

"We have excess electricity. Let them make this cryptocurrency....".

They are not alone among nation states mining Bitcoin. El Salvador has been mining Bitcoin using volcano-generated electricity for a couple of years.

Kingdom of Bhutan has been using stranded hydro-power to generate $1b in Bitcoin.

You might be wondering, why don’t more countries do this? The Prime Minister of Bhutan asked the same question. It’s a no brainer.

EL SALVADOR

IMF Pressures El Salvador to Drop Bitcoin

El Salvador has been under increasing pressure from the IMF to drop it’s association with Bitcoin, with strict conditions placed on loans, including scrapping Bitcoin legal tender laws, abandoning the national Chivo wallet project, and to STOP buying or mining Bitcoin.

To be sure, El Salvador needs the billions in loans from the IMF to continue its profound national transformation, and the global ‘lender’ is using that leverage to attack Bitcoin.

The REAL news from all of this is that Bitcoin is too big to ignore. The IMF sees it as a threat. They could have insisted on these conditions any time over the last 3 years, but chose to put the pressure on now that Bitcoin has become a multi-trillion dollar asset.

President Bukele, for his part, insists that nothing will change despite the explicit demands of the IMF.

It remains to be seen how this all plays out, but El Salvador’s role to date cannot be diminished.

If El Salvador never buys another bitcoin ever, they have already done more for adoption than anyone could have expected from such a small nation.

• First nation-state to make Bitcoin legal tender.

• First to build a Bitcoin strategic reserve.

It’s easy to forget now that Bitcoin ETFs have been a wild success, listed companies are buying Bitcoin, and bitcoin trading is now a standard part of hedge fund activity, there once was a time when all of this was fantasy.

Yeah bro, Bitcoin is gonna take over the world… you watch. There was no MicroStrategy buying. No El Salvador buying. No legal tender laws anywhere.

There had to be a first, and that would take courage. El Salvador stood up under the leadership of President Bukele. They started buying. And kept buying through the bear market. Their persistence finally rewarded as the bear market gave way to the birth of a new bull market, and Bitcoin finally breaking $100,000.

El Salvador now holds 6,102 Bitcoin Worth $547m. Not bad for an investment of $150m. When Bitcoin reaches $1m some time in the next 5-10 years, their current stack will be worth about $6.1b. For an economy currently sitting at $35b GDP they will have a Bitcoin Reserve that is 17% of their total current economy. if their GDP doubles in that time it will be 8.5% backed by Bitcoin. Incredible.

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Cheers,

Archie

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