America Has Its First Pro-Crypto President.
Ten steps up, half a step back.
But damn, those half steps sure do cause a great deal of consternation, handwringing, finger-pointing, whining, and certainty that all is surely lost.
You might have missed this last week… but Javier Milei, Argentina’s presidential bad-boy and enthusiastic champion of anarcho-capitalism, lent his support to a crypto token, LIBRA, that launched supposedly to benefit Argentina’s economy by bolstering small businesses.
Milei’s tweet: “This private project will be dedicated to incentivizing the growth of the Argentine economy by funding small businesses and Argentine enterprises. The world wants to invest in Argentina.”
Alas… now everyone is disregarding Eva Perón’s advice and definitely crying about Argentina.
That’s because in typical Argentine fashion, LIBRA ugly-crashed.
It didn’t just drift lower.
It fell out like a drunk slipping off a barstool.
Billions of dollars vanished in a blink… a literal straight line down to the floor.
All over Twitter, those who lost big are pointing fingers at everyone other than the right culprit (themselves, for aping into a project that had existed for a mayfly’s half-life, and without doing a lick of research).
Down in Tangolandia, meanwhile, Milei is under enough heat to sear an Argentine steak. A task force was formed within hours to investigate whether Milei was part of a pump-n-dump scheme, while some local lawmakers are already calling for impeachment.
Another day, another scandal in crypto.
Which is unfortunate.
To investors like me who have been in the crypto trenches since 2017, the LIBRA grief is unremarkable. Been there, done that. Next?
But to those who are not accustomed to the crypto markets, but who are interested in investing in the future… well, they see this and wonder if the game is just too risky to play.
I get that. Totally understandable.
Which is frustrating, because crypto and the blockchain tech on which it’s built really is the future of pretty much everything in our life.
However, as I tweeted out when this happened, “Ultimately, this is an exogenous event… But the world moves on. Improvements will likely come out of this, for sure. But the event itself does not change the larger story arc of crypto…”
And, getting to the real point of today’s dispatch, that arc in many ways is tied to much larger events shaping up not in Buenos Aires but in Washington, DC.
See, America has its first pro-crypto president in Donald J. Trump, and the pro-crypto agenda he’s pushing trumps (bad pun) Milei’s sharing of a random coin no one had ever heard of until Milei tweeted about it last week…
What Trump is up to promises to fundamentally change the game and set crypto on a path moonward. (I’ll be telling you more in a special summit I’m hosting this Sunday… including revealing the single biggest action Trump has taken that could forever change the crypto market… and how seven particular coins could skyrocket… Just click here to register—it’s FREE.)
We saw some big price upswings in the early weeks just after Trump’s election victory. Crypto prices surged because of widespread expectations that Prez 47 is going to launch America into the cryptoconomy… Previous presidents, particularly Biden, were exceedingly antagonistic toward the industry.
Since reclaiming 1600 Pennsylvania Ave. as his new mail-forwarding address in late-January, Trump has launched big-time into his crypto agenda.
He has named numerous pro-crypto folks to various agencies, including Treasury, the Commerce Department, and the Securities and Exchange Commission. He named venture capitalist David Sacks to be White House “Crypto Czar.” And just recently, Trump appointed a crypto bro to head up the Office of the Comptroller of the Currency (OCC), America’s primary bank regulator.
Uncle Sam’s bureaucratic banking muppets have long been hostile toward crypto becoming part of the banking industry. That’s now shapeshifting, and the tidal wave of change coming implies a huge demand spike for cryptocurrency over the remainder of the decade.
My bet is that the OCC will give banks the right to custody crypto for their customers and allow banks to begin offering crypto trading services to mom-and-pop savers through internal crypto wallets that mom and pop don’t even have to understand. Banks will make owning crypto as seamless as investing in a certificate of deposit online.
What else is happening right now to secure crypto’s place in our future financial system?
Well, glad you asked…
- Wyoming Sen. Cynthia Lummis is heading up the first-ever Senate subcommittee on crypto, and she’s hellbent to facilitate Trump’s call to build a US Bitcoin Strategic Reserve and stock it with at least 1 million bitcoin—200,000 per year for the next five years.
- Trump’s team has a plan to potentially build an American crypto portfolio, not just a bitcoin reserve.
- President Trump signed an Executive Order giving support to stablecoins, crypto that shadows an asset like the US dollar 1:1—a move that would support the dollar since stablecoins are huge buyers of Treasury paper.
All of that—those last 9 or 10 paragraphs… plus one, even bigger move Trump has made, which I’ll be talking about during my free event on Sunday (as well as the cryptos that will benefit)… is why I remain steadfastly bullish on crypto.
These are big reasons why I continually urge my readers to own crypto in their portfolios. Even if it’s just 5%. That small allocation will grow to a much bigger allocation over the next few years, easily outpacing stocks.
Events like LIBRA are bound to happen. That’s the way it goes with new asset classes. All technologies are used for things good and bad, smart and stupid—especially in the early days.
Don’t let the bad and the stupid blind you to the truly useful, innovative, big-money-making projects in crypto, like those I invest in personally… (And those I’ll be sharing more about in my free event in Sunday, Crypto Surge 2025: Big Potential Profits in Trump’s New Era.)
In fact, for those of us savvy investors investing in savvy projects… exogenous events like the LIBRA debacle even have an upside.
Prices go down on LIBRA-like events because humans lose their mind and flee.
Use that fear to your advantage.
These half-steps back are a great entry point for the 10 steps ahead that are coming.
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