🧠 Is Trump a Bitcoiner?

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Good morning patient - Arsen here. ☕

Welcome back to Bitcoin Therapy. We’re like your Bitcoin wingman - we’ll make you look smart in front of the girls.

First, happy and relaxing Sunday to 7,867 patients reading today. 👋 

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Alright, here’s what I got for you this week:

  • 4 bull signals to watch 🐂

  • 2 countries ban Bitcoin mining

  • Trump’s presidential campaign accepts Bitcoin (or do they?) 🇺🇸

Estimated read time: 2 minutes and 32 seconds

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Alright, let’s Bitcoin…

4 BULL SIGNALS TO LOOK FOR 🐂

1/ Bitcoin hits an all-time high in Japan 🇯🇵

Yup, Bitcoin is looking extra kawaii in Japan. 2 reasons why:

  1. Bitcoin is going up against the Japanese Yen 📈

  2. Japanese Yen is going down against the US Dollar 📉

2/ Bitcoin is getting ready for a bull rally

There are 2 things that will always be true:

  1. I go to the toilet after my morning coffee

  2. Bitcoin has a bull market after halving

And only one of those has happened so far (RIP my toilet).

3/ This company’s growth exploded thanks to Bitcoin

Meet Meta Planet.

They’re 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, that’s 5 years away.

Yes, I know you can’t compare these technologies directly.

And yet, I just did.

🛑AVOID THIS BITCOIN MISTAKE🛑

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 ❌

Look at this picture. What do you think you’re looking at?

At first glance, it looks like some poorly made rap video filmed in someone’s mom’s basement.

But, no. That’s 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 that‘s not all.

The Paraguayan government felt left out and dropped their own brain fart of a proposal:

  1. Ban Bitcoin mining rigs

  2. Sentence miners up to 10 years in prison (oof)

The crime? ‘Energy theft’.

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. 🤦

Oh well. It is going to be a VERY expensive lesson for both nations.

Bitcoin miners will go where they’re treated best.

TRUMP’S PRESIDENTIAL CAMPAIGN ACCEPTS CRYPTO? 🇺🇸

This is YUGE!!1

Remember when Trump shocked the Internet with ‘Grab 'em by the p*ssy’?

Well, this week, he dropped another bomb: He now accepts Bitcoin and crypto for his presidential campaign…

…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 isn’t “adoption”:

  1. Trump’s team sells the Bitcoin you send them immediately and converts it to USD

  2. They’re not really accepting Bitcoin. This is what happens when you try to send to the campaign address:

This is because Trump accepts ‘Coinbase Commerce payments,' which don’t allow sending Bitcoin directly.

It’s Coinbase’s own proprietary payment system for sending “Bitcoin” to people who accept it.

Think of it as Bitcoin, but…fake. No real Bitcoin is being moved here.

Huge fail.

WHAT I’M READING 📖

  • Bay Area Times - My favorite business newsletter - those visuals are 🔥

  • 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 I’ve seen.

THIS WEEK IN A MEME 📅

FROM THE ARCHIVE 📁

It all makes sense now.

PATIENT REVIEW 🧠

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See you next Sunday,

Arsen

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