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š§ Is Trump a Bitcoiner?
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Good morning patient - Arsen here. ā
Welcome back to Bitcoin Therapy. Weāre like your Bitcoin wingman - weāll make you look smart in front of the girls.
First, happy and relaxing Sunday to 7,867 patients reading today. š
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Alright, hereās what I got for you this week:
4 bull signals to watch š
2 countries ban Bitcoin mining ā
Trumpās presidential campaign accepts Bitcoin (or do they?) šŗšø
Estimated read time: 2 minutes and 32 seconds
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Alright, letās Bitcoinā¦
4 BULL SIGNALS TO LOOK FOR š
1/ Bitcoin hits an all-time high in Japan šÆšµ
Yup, Bitcoin is looking extra kawaii in Japan. 2 reasons why:
Bitcoin is going up against the Japanese Yen š
Japanese Yen is going down against the US Dollar š
2/ Bitcoin is getting ready for a bull rally
There are 2 things that will always be true:
I go to the toilet after my morning coffee
Bitcoin has a bull market after halving
And only one of those has happened so far (RIP my toilet).
3/ This companyās growth exploded thanks to Bitcoin
Meet Meta Planet.
Theyāre a publicly listed Japanese company that announced last week that it would buy Bitcoin on its balance sheet.
The result? It was the best-performing stock of the week.
The gain was so big that Metaplanet has been halted at a max daily gain of +50% for two days in a row (TIL this is a thing in the Japanese stock market, lol).
A total of 165% gain in just 5 days.
Bitcoin is truly a cheat code.
4/ Bitcoin has the same number of users as the Internet in 1999
Wild stat.
The Internet took off only around 2004. For Bitcoin, thatās 5 years away.
Yes, I know you canāt compare these technologies directly.
And yet, I just did.
šAVOID THIS BITCOIN MISTAKEš
PLS STOP STORING YOUR BITCOIN ON PAPER/ONLINE.
I will die on this hill.
Why? Because securing your generational Bitcoin wealth on paper or online is dumb.
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VENEZUELA AND PARAGUAY BAN BITCOIN MINING ā
Look at this picture. What do you think youāre looking at?
At first glance, it looks like some poorly made rap video filmed in someoneās momās basement.
But, no. Thatās a Venezuelan government official filming a video showing the seizure of a large Bitcoin mining facility.
The reason? They want to ban Bitcoin mining completely.
But thatās not all.
The Paraguayan government felt left out and dropped their own brain fart of a proposal:
Ban Bitcoin mining rigs
Sentence miners up to 10 years in prison (oof)
The crime? āEnergy theftā.
And you know what? I trust them 100%. After all, governments are experts at stealing your energy by printing your hard-earned money away.
This is stupid on so many levels. Both Venezuela and Paraguay have worthless local currencies.
So what do they do? Block the only technology that can solve their issue. š¤¦
Oh well. It is going to be a VERY expensive lesson for both nations.
Bitcoin miners will go where theyāre treated best.
TRUMPāS PRESIDENTIAL CAMPAIGN ACCEPTS CRYPTO? šŗšø
This is YUGE!!1
Remember when Trump shocked the Internet with āGrab 'em by the p*ssyā?
Well, this week, he dropped another bomb: He now accepts Bitcoin and crypto for his presidential campaignā¦
ā¦well, kind of.
But first, I'm not sure who needs to hear this, but don't voluntarily give politicians money.
And definitely don't give them your bitcoin!
Also, no, this isnāt āadoptionā:
Trumpās team sells the Bitcoin you send them immediately and converts it to USD
Theyāre not really accepting Bitcoin. This is what happens when you try to send to the campaign address:
This is because Trump accepts āCoinbase Commerce payments,' which donāt allow sending Bitcoin directly.
Itās Coinbaseās own proprietary payment system for sending āBitcoinā to people who accept it.
Think of it as Bitcoin, butā¦fake. No real Bitcoin is being moved here.
Huge fail.
WHAT IāM READING š
Bay Area Times - My favorite business newsletter - those visuals are š„
TLDR Newsletter - These guys are the kings of summarizing tech news. Perfect for busy people (like me)
The Hustle - The OG of business news and tech news. It's some of the best writing and storytelling Iāve seen.
THIS WEEK IN A MEME š
FROM THE ARCHIVE š
It all makes sense now.
PATIENT REVIEW š§
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See you next Sunday,
Arsen
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