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🧠 Trump's 2 BIG Bitcoin promises
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Good morning patient - Arsen here. ☕
Welcome back to Bitcoin Therapy. A newsletter where we spoon-feed you the tastiest Bitcoin stories of the week.
First, happy and relaxing Sunday to 7,901 patients reading today. 👋
Thinking about what to write in this intro. My head is empty. Well, I guess now we have an intro.
Alright, here’s what I got for you this week:
Donald Trump’s 2 BIG Bitcoin promises 🧑💼
4 reasons to be bullish right now 🐂
Who owns the most Bitcoin ETF (hint: it’s not who you think it is)? 🤔
Estimated read time: 3 minutes and 5 seconds
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Alright, let’s Bitcoin…
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TRUMP’S 2 BIG BITCOIN PROMISES 🧑💼
Last Sunday, Donald Trump gave a speech at the Libertarian National Convention in Washington.
And your boy shed a few tears during it. 🥺
He made 2 big promises:
1/ “I’ll free Ross Ulbricht”
Ross founded the dark web marketplace Silk Road, where you could buy and sell anything with Bitcoin. And when I say ‘anything,’ I mean it.
Long story short, Ross was caught and sent to prison.
His sentence? 2x life.
But now, he might get pardoned if Trump gets elected!
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/2064f01b-15d5-4e76-98b4-4e9229379445/image.png?t=1717066785)
2/ “I will support your right to self custody”
Followed by: “I will keep Elizabeth Warren and her goons away from your Bitcoin.”
Why would he say this? Because Elizabeth Warren, the General of the ‘anti-crypto army,’ has long tried to get Bitcoin self-custody banned in the US.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/35ba30d5-ab96-45fd-aac9-4cd793d43768/ZomboMeme_30052024033531.jpg?t=1717081974)
Elizebeth, please show us where a self-custodial wallet touched you.
This is big for another reason, too: it’s the first time a US President has used the words "self-custody" in a speech.
Bitcoin is entering mainstream consciousness.
I don’t even live in the US, but I’ll vote for Trump anyway, lol.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/46a03fea-57db-4ff1-97e0-4caed101ba2b/Untitled_design.png?t=1713354948)
ARE YOU CONFIDENT IN YOUR BITCOIN SETUP? 🔒
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/9013b8b2-8fd8-4968-a295-6f01f215ce26/photo_2024-02-27_20-08-03.jpg?t=1709130792)
I admit I’m not 100% confident.
And I can’t imagine anything worse than saving in Bitcoin for years…only to lose it.
Let me ask you a few questions:
Do you think your Bitcoin setup is secure enough?
Do your loved ones know how to access your Bitcoin if something happens to you?
If you struggle with these questions, you’re not alone. I’ve been there.
When I first discovered Bitcoin in 2017, I made many mistakes. I sent BTC to the wrong addresses, overpaid in transaction fees, and sometimes didn’t back up my wallet (RIP, Sats).
This is because there was no one to guide me. But that’s not the case today. Meet The Bitcoin Way - your Bitcoin IT team
The Bitcoin Way team offers personalized, secure, and comprehensive solutions for EVERY aspect of your Bitcoin journey:
Wallet & node setup
Individuals & Businesses
Inheritance planning
Privacy-focused collaborative custody
Fast and reliable tech support
They’re rated 4.9/5.0 on Apollo. So yeah, they’re legit.
PS: it’s a friendly tour, not a sales pitch ☝️
Please support my sponsors! 🙌
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/46a03fea-57db-4ff1-97e0-4caed101ba2b/Untitled_design.png?t=1713354948)
4 REASONS TO BE BULLISH RIGHT NOW 🐂
1/ A publicly traded company buys 581 Bitcoin
Meet Semler Scientific.
A company no one has ever heard of. Well, until this week.
They made sure everyone knew them after they announced Bitcoin as their main treasury reserve asset.
Translation: they bought 581 Bitcoin for $40 million
And can you guess what happened next? $SMLR shares jumped up 42.5%. 📈
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/57cc83fa-c8e2-4934-b550-0b70a9778d33/image.png?t=1717051697)
There is no denying it now: Bitcoin balance sheet strategy is pure bull juice for your stock price.
The $MSTR playbook is gaining momentum:
1 public company buying Bitcoin means they have a whacko CEO.
2 public companies buying Bitcoin is a trend.
The dominoes are beginning to fall for corporate Bitcoin adoption.
If you’re reading this, you’re witnessing it from the front-row seats.
And I’m 100% sure Saylor is watching this with an ‘I told you so’ smirk on his face.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/0e9412b0-7df2-4082-99da-be52d7e32569/GOrhAtRXoAARQFd.jpg?t=1717051948)
2/ Bitcoin whales are in heavy accumulation mode
Here are the heaviest things in the universe:
Black hole in galaxy NGC 4889
Michael Saylor’s cojones
Bitcoin whales’ Bitcoin bags recently
Check this out: Bitcoin whale addresses last active in 24 hours are hoarding tons of Bitcoin.
Who are these whales? No idea.
But what’s clear is they are going balls deep in Bitcoin.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/83c9b2e5-a7bd-47d9-a420-442b5c2b3fe2/GOg28FMWIAA3tKx.jpg?t=1716894943)
3/ The Nigerian Naira is now worth less than 1 satoshi
Yes, you read that right. 1 NGN < 1 Satoshi.
The reason? Nigerian money printer go brrrrr x2
Congratulations to the Nigerian Central Bank - only a few select countries have achieved this!
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/c9ebbd37-c2b5-4b0e-b270-bd38e589c148/GOn75I3WMAA7wcx.jpg?t=1716895120)
4/ Someone moved $3 billion worth of Bitcoin with $2.8 fees
A $2.8 fee. For moving $3 BILLION.
I tried sending $3 billion from my bank, but the bank teller just laughed in my face.
This is the power of Bitcoin.
Bitcoin: 1
Banks: 0
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/cd2a433c-804d-4a80-973b-b174cf5724d1/GOqUUbDWYAAKUea.jpg?t=1716908856)
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/46a03fea-57db-4ff1-97e0-4caed101ba2b/Untitled_design.png?t=1713354948)
WHO OWNS THE MOST BITCOIN ETF? 🤔
BOOM CHAKA LAKA POLL TIME!
Who owns the most Bitcoin ETFClick any to see the correct answer |
I’ll be honest; I got this one wrong.
Here’s what surprised me: Retail investors own 85% of all spot bitcoin ETF shares.
Check this out:
FYI: This chart shows both Spot and Futures ETFs.
That wild. You’d assume the largest holders would be large financial institutions.
But no, the little guys have the heaviest ETF bags! Love to see this.
However, I am only interested in Spot ETF ownership because it involves actual Bitcoin.
Here are the key findings:
Retail own ~85%
Hedge funds own ~10%
Investment advisers own ~2.5%-4%
So why are institutions so far behind?
It’s simple: bureaucracy.
When you want to buy a Bitcoin ETF, you need to ask your wife.
When an institution wants to buy a Bitcoin ETF, it must go through 321 layers of approval (aka 321 wives).
Anyway, this is a rare thing to see. Usually, it’s the big dogs that get to eat first.
You get what’s left after them. In this case, an overpriced Bitcoin ETF where the biggest returns have been squeezed out. 🥹
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 📅
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/f2774d06-a9e3-40c8-9014-5bd39e1efe6a/GOrtSZdXsAE1AT9.jpg?t=1716992889)
FROM THE ARCHIVE 📁
This is the last message from Satoshi before he disappeared 14 years ago.
Satoshi leaving the Bitcoin was good, but this still makes me sad.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/e93a1a4b-573e-4406-95e5-77abc0df5dbc/image.png?t=1716993292)
PATIENT REVIEW 🧠
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/354960d4-8a12-4e88-8340-3dd62cbcc5d3/_I_just_wanted_to_appreciate_the_hard_work_you_guys_have_put_in_to_this_project_keep_doing_stay_humble_stack_sats_.png?t=1716993572)
What did YOU think of this week's email?Brutally honest feedback is appreciated. I read every comment :) |
That’s it for this one—big thanks to The Bitcoin Way who allow us to write Bitcoin Therapy. You support us by supporting them ❤️
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See you next Sunday,
Arsen
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