DGinWeb3

Web2 Operator, Web3 Enthusiast | #BTC | Azuki | ex-Researcher @GlimmerDAO

[DGinWeb3 @DGinWeb3]

Clear use case for crypto that is beneficial to consumers - we just need the legislation to catch up.

[Brian Armstrong @brian_armstrong]

https://t.co/Y7JDtkRK1R

[Elja @Eljaboom]

This is game changer tbh, bullish on @BNBCHAIN and ecosystem tokens

[David Sacks @davidsacks47]

Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.

The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.

It is estimated that the U.S. government owns about 200,000 bitcoin; however, there has never been a complete audit. The E.O. directs a full accounting of the federal government’s digital asset holdings.

The U.S. will not sell any bitcoin deposited into the Reserve. It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called “digital gold.”

Premature sales of bitcoin have already cost U.S. taxpayers over $17 billion in lost value. Now the federal government will have a strategy to maximize the value of its holdings.

The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers.

IN ADDITION, the Executive Order establishes a U.S. Digital Asset Stockpile, consisting of digital assets other than bitcoin forfeited in criminal or civil proceedings.

The government will not acquire additional assets for the Stockpile beyond those obtained through forfeiture proceedings.

The purpose of the Stockpile is responsible stewardship of the government’s digital assets under the Treasury Department.

PROMISES MADE, PROMISES KEPT

President Trump promised to create a Strategic Bitcoin Reserve and Digital Asset Stockpile. Those promises have been kept.

This Executive Order underscores President Trump’s commitment to making the U.S. the “crypto capital of the world.”

I want to thank the President for his leadership and vision in supporting this cutting-edge technology and for his rapid execution in supporting the digital asset industry. His administration is truly moving at “tech speed.”

I also want to thank the President’s Working Group on Digital Asset Markets — especially Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick — for their help and support in getting this done. Finally Bo Hines played a critical role as Executive Director of our Working Group.

[CZ 🔶 BNB @cz_binance]

One more hodler, the US. 🤷‍♂️😆

[db @tier10k]

*ABU DHABI'S SOVERIGN WEALTH FUND BOUGHT $436M OF BITCOIN ETFS IN Q1

*ABU DHABI'S MUBADALA DISCLOSES ISHARES BITCOIN ETF HOLDINGS IN 13F

[Nate Geraci @NateGeraci]

Not sure how this isn’t ETF chart of the year…

Anyone have something better?

[Brian Armstrong @brian_armstrong]

Interesting graph from Visa

[DGinWeb3 @DGinWeb3]

Stripe knows.

[Yash @yashhsm]

Stripe acquired Bridge for $1.1 billion.

I'll explain why, for a company, you probably never heard of 🧵

[Chris Dixon @cdixon]

Today we released our latest State of Crypto report.

It shares insights on key trends — like stablecoins, L2s, and AI — plus, crypto’s rise as a policy issue, new data on builders and users, and more.

7 takeaways from the report:

1. Crypto activity and usage hit all-time highs

2. Crypto has become a key political issue ahead of the U.S. election

3. Stablecoins have found product-market fit

4. Major scaling upgrades have drastically reduced onchain transaction costs

5. DeFi remains popular — and it’s growing

6. Crypto could solve some of AI’s most pressing challenges

7. More scalable infrastructure has unlocked new onchain applications

Read the full report here: https://t.co/sBmQApTbuT

[Chris Burniske @cburniske]

Bottom trolls in disbelief.

If you were shook, internalize the lesson that bears have the most power near the bottom.

While social momentum & validation will encourage bearishness near the bottom, it pays the least to be bearish there, and pays the most to be bullish.

[DGinWeb3 @DGinWeb3]

@coinbasetraders @arthur0x @wiltrain @ASvanevik Is there an email / contact point to clarify details about the event?

[Coinbase 🛡️ @coinbase]

So you think you can HODL... here's what it means 🧵

[DGinWeb3 @DGinWeb3]

Institutions are here.

[Franklin Templeton @FTI_US]

#NewProfilePic

[db @tier10k]

BLACKROCK ETH ETF CONFIRMED IN NASDAQ FILING

Source: DB | Coins: ETH

[DGinWeb3 @DGinWeb3]

Baby steps

[Eric Balchunas @EricBalchunas]

The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Again all part of the process of bringing ETF to market.. h/t @martypartymusic

[DGinWeb3 @DGinWeb3]

Institutions are here.

[Bitcoin Archive @BitcoinArchive]

BREAKING: BlackRock CEO Larry Fink says this #Bitcoin rally "is a flight to quality" and way beyond the ETF approval rumour.

[DGinWeb3 @DGinWeb3]

Great thread on things to watch out for in 2H 23

[Balaji @balajis]

Jason, I'm glad you recognize the distinction between reporting on the Fed’s crisis and causing it!

While I have you…with zero personal animus, I’m going to need you to correct the record on something. And this is also addressed to @matt_levine and to a lesser extent @SchreckReports, both of which have published things that require correction.

In short, the hyperbitcoinization bet is a Simon-Erlich style bet that is purely about settling an ideological matter. I did not propose the bet but only accepted it, I have absolutely zero profit motivation, I am never selling Bitcoin for USD unless legally compelled to do so, and I am holding Bitcoin until the US dollar is no longer the reserve currency of the world, again unless legally compelled to do otherwise.

The only time I have ever rung a fire alarm like this was in Jan 2020. I did what I could to warn about a lab leak that actually did end up claiming millions of lives.

That's also the only reason I’m doing this: to alert innocent Americans and dollar holders in the style of Paul Revere that the printing is coming.

A SIMON-ERLICH BET ON HYPERBITCOINIZATION
In more detail:

1) The record shows that I put up the #Bitsignal before I made the bet, giving out $1M of my own money to raise awareness of this stealth crisis — the digital devaluation of the dollar — before it was known to be a crisis.[1]

2) The record also shows that I didn't *propose* the bet, but just accepted it. @jdcmedlock proposed it. [2]

3) I believe Medlock will agree that this is an ideological bet, like the Simon-Ehrlich bet[3], which resolved a famous difference of opinion between libertarians and progressives. As with the Simon-Erlich bet, the hyperbitcoinization bet is obviously not a money making bet. It is purely informational. For what it's worth, I was CEI's Julian Simon award winner[4] last year so I'm clearly aware of Simon.

4) Moreover, the Bitcoin community, such @jack, has posted about the possibility of hyperbitcoinization for many years.[5, 6] This is not coming out of nowhere.

5) To allay any question about my motivations, I publicly commit to never selling any Bitcoin for USD unless legally compelled to do so. While I still respect many individual Americans, I no longer have faith in the US currency or banking system.

6) I am sadly not alone in this loss of faith in US banking. Moody's has downgraded the US banking system as a whole [7], many Indians have been forced to move funds from collapsing US banks to India's GIFT City banking system[8], and — in a development that should be worrying for the world — Chinese banks are soaring as Western banks are failing.[9] If the USD fails, the free world needs BTC as the reserve currency, not RMB.

7) Finally, after ten years of being in the public eye, with tens of thousands of tweets, 50+ hours of podcasts, and hundreds of pages of writing — there are enough people with context on me to know that I am not a trader, I rarely discuss price, and I do not do John McAfee-like stunts. I am an ideologically driven person who believes in Bitcoin & everyone who knows me can testify to this.

IN SUMMARY
The hyperbitcoinization bet is a Simon-Erlich-style public interest bet.
I did not propose the bet but only accepted it.
I have absolutely zero profit motivation.
I raised the alarm on printing as I did on COVID, because it’s important.
I’m already being proven right, as the printing is reportedly $18T.
I am never selling Bitcoin for USD unless legally compelled to do so.
And I am holding Bitcoin until the US dollar is no longer the reserve currency of the world, again unless legally compelled to do otherwise.

I cannot give a more strongly worded statement.

[1]: https://t.co/FtRYUDQTDs
[2]: https://t.co/bh621sdXCg
[3]: https://t.co/GOxiZAlELA
[4]: https://t.co/eXBAhsiS2r
[5]: https://t.co/1cY7CIl4KY
[6]: https://t.co/nlP5BxClSQ
[7]: https://t.co/jKlhYWoph5
[8]: https://t.co/6N3Nw88nL3
[9]: https://t.co/GC5uJtewzQ
[10]: https://t.co/BCnREcjJbC

[DGinWeb3 @DGinWeb3]

@chickengenius ECB has raised 50 BP this week, think it’s more 50/50 whether the fed follow suits this week

https://t.co/dD3VRnUZWi

[DGinWeb3 @DGinWeb3]

Don’t let the 1M headline distract you from the core message of the fundamental weakness in fiat.

[Balaji @balajis]

The BitSignal

How do you ring the fire alarm on the internet?
How do you show it’s not a false alarm?
I am putting up the BitSignal.
$1M in BTC to alert us to the stealth financial crisis.
$1000 per tweet, for the best 1000.
Reply with your charts, graphs, stats, memes!
Bring attention to what is happening!
Because the central bank, the banks, and the bank regulators have bankrupted all of us.
They hid their insolvency from you, the depositors.
And they're about to print $2T to hyperinflate the dollar.
In the digital age this will happen very quickly.
So buy Bitcoin *now* and get your coins off exchanges.