An Open Letter to @JeffBezos:
I will be canceling all of my accounts and divesting completely from @jpmorgan@Chase because Jamie Dimon is, was, and will forever be Jeffrey Epstein’s banker.
More recently, his vicious, backhanded attacks on @saylor and @Strategy put him in opposite to capitalism, freedom, sound money, and the long term interests of the United States of America.
My only remaining Chase account is my @amazon card. I will be cancelling this as well, but I want to continue patronizing @amazon and @WholeFoods and the card offers substantive benefits (5-6-% cash back) at both locations.
Please consider putting bitcoin on the Amazon balance sheet and moving the Amazon card to a less ethically problematic bank - or, better yet, work with @davidmarcus and @lightspark to cut out the banking middlemen entirely and settle directly on the free/open Lightning Network. The value captured can be returned directly to customers.
Jamie Dimon is a manifest enemy of capitalism and innovation. As an icon of both, you should lead the charge away from crony capitalist phonies like Dimon, sucking on the teat of the government leviathan.
Building on a Bitcoin standard means adhering to the motto that has led directly to your success: putting customers and their interests front and center.
Sincerely,
Bitcoiners
The United States Should Print $250 Billion Immediately & Buy Bitcoin
The conversation around the United States bitcoin strategic reserve is heating up.
Senator Cynthia Lummis has put forward a proposal to put the reserve into action. Donald Trump previously committed to starting the reserve with the ~ 200,000 bitcoin that the United States already owns. And RFK Jr has proposed a new plan to start buying bitcoin every day that would allow the United States to accumulate hundreds of thousands of bitcoin over time.
None of these proposals go far enough though.
The United States should print $250 billion on the first day of Donald Trump’s presidency and put 100% of the proceeds into bitcoin.
That may sound bombastic, but I am dead serious. Let me explain.
Bitcoin is becoming the preferred balance sheet asset for various corporations, including Microstrategy which is one of the best performing stocks in 2024. Companies want bitcoin on their balance sheet because it protects them from the debasement of the dollar, while also having minimal risk due to the decentralized structure.
Additionally, there will only be 21 million bitcoin ever created, so the scarcity of the asset will likely lead to price appreciation in the future.
If bitcoin is a desired balance sheet asset for individuals and corporations, then it will eventually find its way to nation state balance sheets too. Given that there are only 21 million, it is imperative that countries act quickly to purchase their share of the coins before someone else buys them.
This brings me to how much the United States should buy.
$250 billion may sound like a big number, but the US government increased the national debt by $850 billion in the last 90 days so $250 billion is a small number when talking about government finance.
That $250 billion could purchase just under 2.8 million bitcoin at the current ~ $90,000 price.
If the US started to purchase bitcoin, the price of the asset will obviously increase though. So let’s say the average purchase price of the US bitcoin is $150,000. That means we could buy 1.6 million bitcoin with our newly printed $250 billion.
Add in the 200,000 bitcoin we hold and the US would immediately be the largest bitcoin holder in the world with 1.8 million bitcoin.
This is the type of action that would cost us very little financially, but could have a profound impact on our financial health in the future.
Bitcoin is a technology product built to protect against currency debasement. The US is currently suffering from that problem. Bitcoin should be our solution.
Print $250 billion on day one. Purchase bitcoin immediately.
Protect the future for our children.
This seems to be a misunderstanding by @apple of how this feature works and what it's for.
It's a critical part of the future of the internet. It has the capacity to bring people around the world into the economy without the traditional gatekeepers. Please reconsider @tim_cook.
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