“We do not hold the belief that this earth is a realm of misery where man is doomed to destruction. We do not think that tragedy is our natural fate and we do not live in chronic dread of disaster. We do not expect disaster until we have specific reason to expect it - and when we encounter it, we are free and capable to fight it. It is happiness not suffering that we consider natural. It is success not calamity that we regard as the normal course in human life.”
- Ayn Rand Atlas Shrugged
@stackhodler Is it possible China’s driving Bitcoin’s forced selling? A strategy to unsettle US markets amid Trump’s stablecoin push and family crypto investments?
@btcjvs Is it possible China’s driving Bitcoin’s forced selling? A strategy to unsettle US markets amid Trump’s stablecoin push and family crypto investments?
Great write-up, love your work. Is it also possible that this move was triggered by late levered longs, who likely had stops clustered below $4,300? A combination of profit-taking (as gold hit overbought levels) and a dollar rebound could have breached these levels, triggering a cascade. The selloff likely triggered stop-losses or margin calls for leveraged longs in instruments such as UGL, GDXX, NUGT, JNUG, etc
@Prymop@paulg The impending recession will force the Fed to cut rates and implement QE which will raise the price of BTC. MSTR is the 4th largest holder of BTC, owning over 500,000 coins.
Will already own… The vehicle raised $200M in January and will use the cash to create a new firm, called 21 Capital, which will receive $3B in bitcoin from the other investors and firms.
Tether would contribute $1.5B of bitcoin, while SoftBank and Bitfinex would contribute $900M and $600M, respectively.
@LukeGromen@john_coster@Stimpyz1@Geiger_Capital From a sequencing perspective, wouldn’t Bessent want lower yields to refinance the largest portion of debt maturing in q2 before working towards the longer term strategy of weaker USD and higher bond yields?
As Treasury Secretary and a key figure in the Trump administration, Bessent’s remarks on bank deregulation are of particular interest due to his role in shaping financial policy.
1. March 6, 2025 - Economic Club of New York Speech: Bessent explicitly addressed bank deregulation, criticizing post-crisis bank rules as outdated and burdensome. He vowed to streamline financial regulation and reduce constraints on private enterprise, stating, “We need our financial regulators singing in unison from the same song sheet,” and signaling a reexamination of standards like the supplementary leverage ratio.
2. March 19, 2025 - All-In Podcast Interview: Bessent mentioned that the Trump administration is “re-examining all bank regulation” with a focus on “safe, sound and smart deregulation,” indicating a push to ease regulatory burdens and incentivize growth.
3. November 2024 - CNBC Interview Bessent spoke of a “big push in bank deregulation” to encourage lending, saying, “We’ve got to get a lot of the lending back into the banking system, and let our banks lend.” This is included for context as it aligns with his consistent stance, though it predates December 28, 2024.