Trump’s memecoin scam earned his son 10,000 BTC in 48 hours—about 20% of his father’s net worth.
Shortly after, the holding company took on even more risk by purchasing regulated products.
Last week, Trump announced plans to invest in and launch a dollar-backed stablecoin to compete with USDT. Now, news emerges that they also want to enter the mining sector.
Mining has always been a survival game. Most who stayed until the end lost BTC. Those who got in and out at the right time made BTC. And those with access to subsidies and cheap energy profit in dollars, financed by debt.
Politics and economics are increasingly converging toward Bitcoin.
Ignoring #Bitcoin today is like ignoring the internet in the 2000s or electricity in 1900.
"that's why decentralized mining should win, if miners are being economically rational... and we're seeing a migration towards this and away from FPPS"
— @Bitcoin Mechanic
"Without the certainty of a monarchy or religious legitimacy, rulers have a short time horizon. Their mindset becomes 'smash and grab'—sacrificing the long-term future of the country for short-term personal gains."
— @Saifedean Ammous
"Protection from violence is just another economic good—like apples, cars, or laptops. But when it's provided by a monopoly that takes your money without consent, it fails, just like any other centrally controlled industry."
— @Saifedean Ammous
"The real issue was that managers of publicly owned institutions couldn't perform economic calculation because they didn’t own the means of production. There was no market in the means of production, so the state controlled the entire supply chain and the consumer—making decisions with no mechanism for true calculation."
— @Saifedean Ammous