Market Update
I am starting to feel like we got the Temu version of Trump. We were promised a strategic reserve, a pro-crypto cabinet and a government agency literally named after a memecoin (DOGE). Instead we got tariffs and interest rates on hold…
Let me stop you there, this is a marathon not a sprint. The strategic BTC reserve taskforce came out yesterday to explain the order of business, we’re talking about the largest economy on Earth hoarding BTC…this can’t be overstated and must be given the appropriate amount of care otherwise it will just be stuck in political red tape forever.
More specifically, ETH has been really struggling. ETH priced in BTC has been on a downward trajectory for almost 2 years now and nobody can really point to why. My opinion is that it’s indicative of the attention economy meaning more than fundamental value propositions. ETH is starting to feel like a boomer coin and the new entrants to crypto weren’t a part of its transformational development causing the world’s second largest crypto to be overlooked. Personally, I think ETH has a bright future…so does Blackrock
With sweeping economic reform coming out of the US nobody really knows which way the market is heading so times like this are great to watch closely and stay humble.
Crypto News
MicroStrategy Ends Weekly Bitcoin Buying Streak
MicroStrategy has ended its latest bitcoin buying streak after twelve consecutive weeks of acquisitions. The firm acquired around $20 billion worth of bitcoin over the past few months but did not sell any shares last week for more purchases.
US Bitcoin ETFs Could Pull in Over $50B in 2025
US spot Bitcoin exchange-traded funds (ETFs) had nearly $5 billion worth of inflows over January, which could put them on track to see over $50 billion in inflows this year, says Bitwise investment chief Matt Hougan. “So far, so good: Spot Bitcoin ETFs pulled in $4.94 billion in January, which annualizes to ~$59 billion”
Trump Orders Creation of Sovereign Wealth Fund
U.S. President Donald Trump has signed an executive order charging the Treasury and Commerce Departments with creating a sovereign wealth fund. Commerce Secretary nominee Howard Lutnick has been a loud champion for the sector. His bond trading powerhouse Cantor Fitzgerald is the custodian for stablecoin giant Tether's massive holdings of government paper, and Lutnick himself has talked about his own personal massive exposure to Bitcoin.
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