Powell pulls the punchbowl and $1.5 trillion in 'paper wealth' vanishes. I'll unpack Wall Street's meltdown, JPOW's 'maybe we'll cut, maybe we won’t' strategy, and how inflation still runs the show.

Then, we take a serious look at the idea of a U.S. Strategic Bitcoin Reserve. Could an executive order make it happen overnight?

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

LINKS:

• What Is the National Debt Costing Us?
• Bitcoin Miner Hut 8 Buys $100M BTC Bringing Total Holdings to $1B
• The Dutch government urged to establish a National Bitcoin Reserve in an open letter. 
• CNBC Daily Open: Expectations on Fed cuts were the lethal blow to markets
• El Salvador secures $3.5 billion IMF financing package after agreeing to make accepting Bitcoin voluntary and unwind its Chivo wallet.
• Bitcoin Crosses $108k, US Spot ETFs Are The Largest Holder, MSTR To Enter Nasdaq-100
• US Federal Reserve cuts fed funds rate by 25 basis points
• SUMMARY OF FED CHAIR POWELL'S STATEMENT (12/18/24)
• Bitcoin Policy Institute drafts Executive Order for a Strategic Bitcoin Reserve for President Trump
• A US strategic reserve could push bitcoin to $500K: Bitwise CIO - YouTube
• FASB Officially Adopts Fair Value Accounting Rules for Bitcoin Starting December 2024
• El Salvador to Scale Back Bitcoin Policies for $1.4 Billion IMF Loan Deal
• BlackRock releases 3 minute educational video explaining what Bitcoin is.

MUSIC:

• Digital Age Blues by Simon C

Bitcoin at $100K has summoned the FUD swarm — from quantum computer panic to 'national security threat' hot takes. I’m calling out the bad logic, breaking down every attack, and arming you with the facts.

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

LINKS:

• Bitcoin has now become MSNBC's new obsession. 
• River: Bitcoin Ownership Distribution
• Top Organizations Disclosing Donations to Fairshake PAC, 2024 • OpenSecrets
• Ripple founder has given more than $11.8 million to Harris campaign
• Kamala Harris turns to Coinbase for crypto campaign donations, CFO reveals
• Since January, $227 billion of Bitcoin has been activated by long term holders, dwarfing the ETF flows by a multiple.
• Tucker Carlson on X: "Roger Ver is facing life in prison for revealing how the US government worked secretly to subvert cryptocurrency and prevent economic freedom.
• 06: Debunking Big Blocker Alternative History
• Google shocks the world with new a chip that could vanquish Nvidia and Bitcoin - YouTube
• Gloria Zhao on Bitcoin Core Devs, Network Security Threats and Will There Be A "Block Size" War II? - YouTube
• Bitcoin News on X: "Satoshi’s thoughts on handling a “massive breakthrough attack,” such as quantum computing rendering SHA-256 encryption ineffective in protecting the Bitcoin network. https://t.co/GBnZ3UpeXN" / X
• MicroStrategy’s $26 Billion Bitcoin Cache Is Larger Than IBM, Nike Cash Holdings - Bloomberg
• Amazon shareholders have submitted a request for the $2.3 Trillion company to explore adding Bitcoin to its treasury.
• Is It 'Crazy' for the US to Have a Bitcoin Reserve? - YouTube
• Senate Republicans propose Bitcoin national reserve - YouTube
• Behind Bitcoin’s Rally Is a Simple Fact: Supplies Are Limited - WSJ
• Hawaii local news covers Bitcoin adoption in the state with cameos - YouTube
• The National Center for Public Policy Research has submitted the attached shareholder proposal for consideration at the 2025 annual shareholder meeting. 
• China discovers world's largest gold mine - Egypt Independent
• El Salvador’s Gold Reserves Worth $3 Billion: President Bukele Highlights Economic Potential. – El Salvador in English
• CPI inflation November 2024: Annual inflation rate accelerates to 2.7% in November, as expected
• Russia: MP proposes a strategic Bitcoin reserve
• WabiSabi Vulnerability Allows Malicious Coordinators to Deanonymize Coinjoin Users
• MicroStrategy Poised to Join Nasdaq-100 Index
• Eric Balchunas on X: "$MSTR is likely to be added to $QQQ on 12/23 (w/ announcement coming 12/13). Moderna likely to get boot
• Alex Thorn on X: "🚨 “SELL THE PAST, BUY THE FUTURE” 

Crypto Illicit Transaction Volume

• Illicit transactions constituted only 0.34% of the total on-chain transaction volume for 2023
• The total value received by illicit cryptocurrency addresses dropped to $24.2 billion in 2023

Breakdown of Illicit Activities

• Transactions involving sanctioned entities accounted for $14.9 billion, representing 61.5% of all illicit transaction volume analyzed.
• Crypto scams and hacking revenue both decreased significantly, with total illicit revenue down 29.2% and 54.3%, respectively.

Stablecoin Usage

• Stablecoins accounted for the majority of criminal transactions for the second consecutive year, aligning with the recent increase in stablecoin share of all crypto activity.

Citations:

• Crypto crime in 2023 exceeded $24 billion: Chainalysis
• US Financial Secrecy Fuels Illicit Financial Flows from Environmental Crimes, New Report Finds
• Illicit cryptocurrency transactions global 2023 | Statista
• New report: The 2023 Illicit Crypto Economy | TRM Insights
• Efforts to track illicit financial flows need scaling up – UNCTAD SDG Pulse 2024
• 2024 Crypto Crime Trends from Chainalysis
• The IMF and the Fight Against Illicit Financial Flows
• An In-Depth Look at Crypto-Crime in 2023 Part 1 | Trend Micro (US)
• African Strategies to Combat Illicit Financial Flows | Carnegie Endowment for International Peace
• The Illicit Crypto Economy Report
• Illicit Financial Flows | UNCTAD
• Illicit crypto addresses received at least $24.2 billion in 2023 - report | Reuters
• Balancing privacy and public interest in the fight against illicit financial flows: Lessons from an European Case Study - ScienceDirect

Cash Illicit Transaction Volume

• According to the UN Office on Drugs and Crime 
• the estimated amount of money laundered globally in one year is 2-5% of global GDP 
  • or $800 billion - $2 trillion in current US dollars.
• The US Treasury estimates that about $300 billion is laundered annually in the United States alone, much of it through cash transactions.

Music

• 5-Watt Rock • Theo Katzman
• Be the Wheel | 5-Watt Rock | Podcastindex.org

Bitcoin: The Unlikely Ally of the Dollar System. What if Bitcoin pumps don’t kill the dollar but make it stronger? How stablecoins and T-bills could entrench the dollar’s dominance, Saylor’s Bitcoin pitch to Microsoft, and why ETF fears are overblown.

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

LINKS:

• Finally my chart got attention. And now I feel is it too late for this fractal now that everyone knows about it
• Crypto Market, Gold Could Rise if World Seeks Dollar Alternatives Amid Trump Tariffs
  Trump pushes for global dollar dominance, but also embraces bitcoin
• Tom Lee Predicts S&P 500 To Reach 6,300, Bitcoin To Break $100K By Year-End, Says Trump's Tariffs Can Be Effective 'Negotiating Tools' 
• US dollar and bitcoin advance spurred by Trump tariff expectations | Reuters
• How painful will Trump’s tariffs be for American businesses?
• Luke Gromen: Bitcoin as "The New Oil," Trump's Tariffs, and the Death of the Dollar-Centric System - YouTube
• Digital Assets and the Treasury Market presentation
• Saylor Buys 15,400 BTC
• Microsoft Bitcoin Strategy - A Presentation by Michael Saylor - YouTube
• James Lavish says Bitcoin is “0.2% right now, at 1% of the total global assets, Bitcoin's a $9 Trillion asset and worth about $450,000, at 3% is worth $1.3 Million per BTC”

Energy:

• The Potential Relationship between Biomass, Biorefineries, and Bitcoin
• Renewable energy and cryptocurrency: A dual approach to economic viability and environmental sustainability: Heliyon
• Can bitcoin mining empower energy transition and fuel sustainable development goals in the US? - ScienceDirect
• Bhutan's national Bitcoin holdings reach one-third of its GDP, could Bitcoin become the new favorite reserve asset for countries worldwide? - ChainCatcher

Updates:

• BlackRock’s spot ETF surpasses 500,000 bitcoin in assets under management 
• Officials are halting Bitmain units at U.S. ports, industry firms report - Blockspace Media
• Introducing Alby Benefits
• Alby Go v1.7.2 Update.

Music

• Bitcoin all Time High by HEKS

Inflation is back—what it means for Bitcoin. Why the media is wrong about who's selling BTC, and I make the case that Bitcoin loans beat selling your sats every time.

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

LINKS:

• Huge $15 Trillion Bitcoin Price Bet Helps Stem Sudden Crypto Sell-Off
• MicroStrategy spends $5.4 billion buying another 55,000 bitcoins, shares slide
• Why Bitcoin's undiscovered potential could push it to $500,000 - TheStreet Crypto: Bitcoin and cryptocurrency news, advice, analysis and more
• Bitcoin (BTC) Bounces Off Lows, Rekindles $100,000 Milestone Optimism - Bloomberg
• Bitcoin bounces back above $96,000 as investors eye $100,000 milestone
• Bitcoin Tops $70K for First Time in More Than Four Months
• PCE inflation October 2024
• #2234 - Marc Andreessen
• Trump admin eyes CFTC to lead digital asset regulation | Fox Business
• Important update for Swan clients 
• awesome-liquid-network | A curated list of Liquid Network resources, libraries, tools and applications
• Casa’s CEO catches a scammer posing as Coinbase support in the act, getting them to spill everything. 👀 https://t.co/t2
• Bitcoin is up 450% since Justin Trudeau said anyone who bought Bitcoin “would have lost more than half their life savings.”

MUSIC:

• Be the Wheel • Theo Katzman

MicroStrategy has become the most traded stock in the US - What does it mean for Bitcoin? Plus, how the new Bitcoin ETF options could reshape the market, and why Bitcoiners should prepare for shitcoins to stick around.

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

LINKS:

• "Businesses are buying BTC faster than ever"
• $1.9b is unheard of for Day One
• Bitcoin Reserve Bill - S.4912 - 118th Congress (2023-2024): BITCOIN Act of 2024 | Congress.gov | Library of Congress
• BlackRock Says Trump Win Brings 'Optimism' for a Bitcoin Reserve
• VanEck Backs Donald Trump’s Strategic Bitcoin Reserve Plan
• Trump Bitcoin Report Card
• Bitcoin in 21 Minutes | River
• Trump Team Mulls Creating First-Ever White House Crypto Role
• Trump taps billionaire crypto booster Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary
• The crypto industry plowed tens of millions into the election. Now, it’s looking for a return on that investment | CNN Politics
• Embrace Alby Hub - phasing out Alby’s shared wallet | Alby User Guide
• Supercut: "If people knew how the monetary system actually worked

Music

• Slight Curiosity By Circle the Earth

From Election Day drama to Market mania: Unpacking the recent surge in Bitcoin and stocks. Is this a hype cycle or something more? Let's follow the money and find out.

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

LINKS:

• "Assets in the US spot bitcoin ETFs are now up to $84b
• Bitcoin mania taking over the stock market too as Coinbase and Microstrategy are both in Top 5 most traded stocks today
• Investing Bitcoin in Retirement Accounts 
• Adopting Bitcoin - High-signal Bitcoin conference for builders
• New release: ZEUSv0.9.2
• RoboSats Release v0.7.2-alpha 
• Fountain app v1.1.6
• Exciting news for Canadians! You can now buy bitcoin directly on the Lightning Network from your Bitcoin Well account!
• Goodstein: Bitcoin could become the next strategic reserve asset. - YouTube

MUSIC

• Tip Toe by Jack Holliday

Trump's nine Bitcoin promises examined – plus how a perfect macro storm is set to usher in BTC's new golden era and shatter all-time highs.

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

LINKS

• Bitwise CIO says “We are entering the Golden Age of Crypto.”
• Bitcoin breaks new all-time high above $74,000 amid Trump's early lead on Election Day | The Block
• The Crypto Industry’s Spending on the Election Pays Off - The New York Times
• Bitcoiners celebrate as Bernie Moreno ousts Sherrod Brown, Ohio upset
• Operation Chokepoint 2.0’s main enforcer Senate Banking Committee Chair Sherrod Brown of Ohio has lost his Senate seat
• Altcoin Daily on X: Trump Super Cut
• Boltz v3.8.0 
• BOLT 12
• Strike: Introducing Bitcoin Auto-Withdrawals
• The Pomp Podcast • #1427 Howard Lutnick

MUSIC

• 1night by Daddy NAT

Bitcoin's sweet 16 has never looked better. This week, I'll unpack the hard data behind the new wave of adoption that's transforming magic internet money into mainstream reality.

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

LINKS:

• BTC ETFs Record Massive $870 Million Inflows
• BTC price risks new 'FOMO' top as Bitcoin ETF inflows near $1B daily
• Spot Bitcoin ETFs on track to overtak Satoshi Nakamoto's BTC holdings by year-end 
• IBIT took in more $$$ *today* than all but 7 of the 590+ ETFs launched in 2024 have taken in *all year* 
• The market is getting even more concentrated
• Microsoft to vote for or against "Assessment of Investing in Bitcoin" during shareholder meeting in December
• CNBC reports on the soaring national deficit’s role in the election, noting that “neither politicians nor the public seem to care.” 
• The US Treasury expects to drain $186 billion this quarter from its general account plus borrow $546 billion, and then borrow $823 billion in the first quarter of 2025. That’s $1.6 trillion of overdraft spending in the next 6 months.
• The Case for Bitcoin as a Reserve Asset
• This is a very bullish setup for bitcoin into the election, says VanEck's Matthew Sigel - YouTube
• New FinCEN Alert Shows Cash, Smuggling Preferred Method For Hezbollah Financing
• Stephen Mollah Q&A - YouTube
• Macroeconomist claims to be Satoshi, creator of ChatGPT, and Twitter logo designer
• US Treasury says stablecoin growth is increasing demand for T-bills 

Music

• That Smile You're Wearing

The Quiet Part Said Loud: Central banks finally admit why they fear Bitcoin - and it's not about protecting you. Breaking down the latest attacks from the ECB and Minneapolis Fed.

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

LINKS:

• The distributional consequences of Bitcoin by Ulrich Bindseil, Jürgen Schaaf :: SSRN
• ECB's Lagarde says bitcoin conducted ‘funny business’ - YouTube
• Christine Lagarde avoids jail despite being found guilty of negligence
• Blockchain's Role in Mitigating Illicit Finance — CRYPTOISAC
• Unique Implementation of Permanent Primary Deficits? | Federal Reserve Bank of Minneapolis
• Challenging ECB's Bitcoin Critique: a Critical Rebuttal
• Pro-Harris PACs see strong donations from crypto community in September - YouTube
• Crypto PAC Fairshake targets close House races as election nears end
• Bitcoin miners launch ad campaign in swing states to boost crypto-friendly candidates 
• Kashkari telling us a few years ago the FED has unlimited money
• Michael Saylor: Why MicroStrategy’s Bitcoin funding is NOT a glitch - YouTube
• The Bitcoin revolution & risks with Michael Saylor (Part Two) - YouTube
• “The Space” | New Bitcoin Citadel in Denver, Colorado
• The future of saving is here: Earn 3.8% on cash. Paid in Bitcoin.
• Natalie Brunell X: Bitcoin is the universal energy currency and a global tool of hope

MUSIC:

• Stop feat. Alex Bonyata

Assets are soaring, but the real economy is crumbling. What gives? I'll break it down. Plus: Bitcoin's lifeline for small businesses, Liz Warren's crypto crackdown sparks outrage, and the Trump Coin crashes and burns.

Affiliate LINKS:

• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling

Links:

• Crude Oil - Price - Chart - Historical Data - News
• MicroStrategy sets sights on $1T valuation as bitcoin bank
• MicroStrategy price target raised to $225 from $173 at Barclays - TipRanks.com
• MicroStrategy Shares Hit New 52-Week Highs Before Pulling Back: Here's What's Going On - MicroStrategy (NASDAQ:MSTR) - Benzinga
• Metaplanet shares jump 16% after buying 107 Bitcoin
• Metaplanet Bitcoin Treasury Reaches $56 Million With Latest BTC Buy - Decrypt
• Warren, Deaton spar over crypto in first debate for US Senate seat
• Trump-Touted Crypto Website Crashes as Token Sale Goes Live, With Just 1.7% of Target Sold
• Trump's crypto coin on sale with Election Day just three weeks out
• Craig Wright files lawsuit against BTC Core and Square without barrister
• Craig Wright tries again: £911 billion lawsuit against Bitcoin Core and Square
• Mayor of Rockdale: 'Bitcoin saved the town's economy
• Mayor of Rockdale says Bitcoin mining saved the town’s economy 
• ZEUS v0.9.1
• Coinbase on X: "Can the crypto voter actually impact the outcome of this election?

Music

• 4am 4ever by Kurtisdrums