Donald Trump: "I'm not Going to the Moon. Bitcoin Might"

His words. Not mine.

"Bitcoin is going to the moon!!!" (Donald Trump; Nashville; July 2024)

Of course he wants votes. A person lost in the Sahara will say or do nearly anything for water. A person running for the WH.....

But to the extent anyone really wants to be honest about it, this is bigger than the election. It's a blatant admission the post WWII Keynesian debt and deficit spending dream has finally run its course. Turns out there is no free lunch. The $35 T bill is finally coming due.

So, you look for a hedge. A panacea. An alternative. Anything, really.

No one is saying the Almighty Dollar will die an interminable death tomorrow; but I don't hear too many people arguing the current trajectory makes a whole bunch of sense, either. See Larry Fink and Jamie Dimon as two very senior Wall Street folks who believe the national borrowing binge is a risk that must be addressed soon. (The former loves BTC; the latter loathes it.)

Listen: I don't believe for one second Mr. Trump - whose whole life is built on leverage - will magically become a deficit hawk overnight. Hardly. But I do give him credit for establishing, in a roundabout manner, something's gotta give.

The former trader in me thinks his address today was remarkabx bullish. Remember; not advice. Do your own research. The reality is the speech very likely got written by crypto leaders in-the-know so trading desks, from a practical standpoint, weren't caught off guard in the slightest. Clearly, the comments were priced in.

But now the cat is out of the bag. The proposed amount - 10% of all bitcoin - is more audacious than I excepted. I had it tabbed for 5% but what do I know.

Recall; he's not POTUS. He's a candidate. It's all "bar talk" for now, as my buddy likes to say. But, hey: there are like 183 elected official heads-of-state abroad who saw or will see the news headlines from today. They're in power right this moment: in places such as Argentina, Thailand, Ecuador, Botswana and Macedonia.

Do you think they're all going to sit on their hands and wait until November to find out what American voters decide to do.

I've been in this space now for seven years. I was around when everyone mocked it. The laugher is dying down. Citizens around the world are finally waking up.

It's not too late. I'm not sure it will ever be too late. But don't listen to me. A national candidate wants an extra large serving of a finite asset. One day the Gold Standard ended. Someday the Bitcoin Standard may begin. Today might someday end up being that day.