WhiteRabbit

Stay humble

[James E. Thorne @DrJStrategy]

Ignore Bessent at Your Peril

Machiavelli’s central lesson of statecraft was simple: dangers seen from afar can be managed; dangers ignored until they are obvious become unmanageable.
Wall Street should apply that rule to Scott Bessent. Ignore him at your peril.

The bond market is still treating Washington’s new posture as a technical adjustment. It is not. It is a regime change. Bessent is not merely managing the Treasury market; he is beginning to set the rules of the global digital financial system.
The forcing function is debt. With US interest costs rising alongside structural deficits, the long end of the Treasury curve can no longer be left entirely to the Federal Reserve. Funding costs are now a question of fiscal capacity, geopolitical power and financial stability.

Bessent has made the direction explicit: the administration will do what it takes to lower yields. Treasury’s decision to double buybacks to $4B per operation from September 9 through November 4 is nominally a liquidity measure. Yet its promise of further detail on futures buybacks on November 4 matters more. It suggests that Treasury’s market-management toolkit is widening.

The yen intervention was the appetizer. It demonstrated that currencies, liquidity and market structure are now instruments of strategy. The next phase is more consequential: active management of the Treasury curve while constructing the rails for a dollar-centred digital financial order.

That is where the Genius Act fits. Properly understood, it is not simply crypto regulation. It is an attempt to bring dollar stablecoins, reserve standards and digital-payment infrastructure within an American legal and financial perimeter. Stablecoins backed by short-duration Treasuries transform global demand for digital dollars into demand for US government debt. They extend dollar distribution beyond banks, correspondent networks and the legacy payments system.

Bitcoin is the complementary signal. It is a coiled spring because it captures two trades at once: demand for scarce, non-sovereign money, and anticipation of a much larger regulated digital-dollar ecosystem. Washington can regulate the perimeter of crypto, but it cannot manufacture Bitcoin’s scarcity.

This is fiscal dominance with a digital dimension. Treasury increasingly sets the incentives; the Federal Reserve reacts within constraints shaped by debt service, market functioning and dollar strategy.
Wall Street keeps parsing buybacks, currency intervention, stablecoin legislation and Bitcoin as unrelated events. They are not. Debt is the constraint. Yield management is the response. Digital dollars are the distribution channel.

And Bessent is defining the rules.

[WhiteRabbit @FlwWhiteRabbit]

@TylerDurden 3BSZrYoUEmivJb1nVR1VLqwwqMQAE7DyTdFyGxSpDPz9

[Willy Woo @willywoo]

The last 30 days has seen more than 3 BILLION DOLLARS per day entering the #Bitcoin network.

[H.E. Justin Sun 👨‍🚀 🌞 @justinsuntron]

Tron is about to experience an AI boom. 👀

[Michael Saylor @saylor]

MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR https://t.co/79ExzXk4UM

[alexjm 🇺🇸 @alexjmingolla]

Veteran crypto traders trying to join the TikTok memecoin meta

[TraderSZ @trader1sz]

$ZIG @zignaly breakout holding and making new highs. Should start pressing now towards 0.4 next imo

[WhiteRabbit @FlwWhiteRabbit]

@GazuaXBT I imagine your first mistakes were because you didn’t believe the start of the bull run, but at this point... Why do you only look for shorts? Do you still not believe in the bullrun?
Sorry to say, but it’s not looking good for your X account.

[WhiteRabbit @FlwWhiteRabbit]

Bitcoin reserves on exchanges hit lowest since November 2018

[WhiteRabbit @FlwWhiteRabbit]

@TylerDurden This bull run is very different from the previous one too many people /institutions are waiting for the dip.

We'll see what happens when the second wave comes lol

[WhiteRabbit @FlwWhiteRabbit]

@Trader_XO Looks like you’re way ahead on Christmas gifts

[WhiteRabbit @FlwWhiteRabbit]

We are back

[WhiteRabbit @FlwWhiteRabbit]

@TylerDurden

[WhiteRabbit @FlwWhiteRabbit]

MicroStrategy announces it has acquired 27,200 $BTC for ~$2.03B AT ~$74,463 per Bitcoin
https://t.co/KpIYmnUfKM

[XO @Trader_XO]

Similar characteristics to 2017 imo

Remains true

Hopeful that alts trade aggressively higher during the next 6/8 weeks.

It’s during this period where alts could make the largest gains.

The moves up are often relentless… 🤲

[WhiteRabbit @FlwWhiteRabbit]

@SantinoCripto Esta es la señal definitiva que necesitábamos.

[WhiteRabbit @FlwWhiteRabbit]

@TylerDurden