The Wolf Den #1148 - Trump Saves The Day
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In This Issue:
Trump Saves The Day
Bitcoin Thoughts And Analysis
Altcoin Charts
Legacy Markets
XRP Flips ETH By FDV
Vitalik And Ross Defend Roger Ver
Ethereum Continues To Make Leadership Changes
This Seems Like Insider Trading
Anthony Scaramucci EXPOSES Trump’s Shocking Bitcoin Plan!
Trump Saves The Day
Trump has saved the day.
Late yesterday morning, Donald Trump shared the post above on Truth Social, causing quite a stir within the crypto community. This is the first time he has used the term “crypto reserve.”
Well over a month ago, I shared the news below, much to the dismay of Bitcoin Maximalists.
I knew that this was true, hearing it from very reliable sources. I was called a liar, a FUDster, crazy… by people who KNEW that what I was sharing was true, but did not want to admit that the “reserve” could be anything other than “Bitcoin only.
Look where we are now.
Moving on.
Let’s rewind a little. Back in Nashville at the Bitcoin conference in July, Trump exclusively talked about Bitcoin and ended his speech with a reference to a strategic national Bitcoin stockpile.
“And so, as the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the Bitcoin the U.S. Government currently holds or acquires into the future. We'll keep 100%. I hope you do well, please. This will serve, in effect, as the core of the strategic national Bitcoin stockpile.”
Then, on January 23, 2025, Trump signed an executive order mentioning a national digital asset stockpile.
Now, the language Trump is using is “crypto strategic reserve.”
To make things even more confusing, Senator Lummis took the stage right after Trump’s speech in Nashville and waved a physical bill in the air, calling it a Bitcoin strategic reserve.
“I'm reading from the text: ‘In the Senate of the United States, to establish a Bitcoin strategic reserve, a network of secure storage vaults, a purchase program, and other programs to ensure the transparent management of Bitcoin holdings of the federal government.’”
Outside of politics, Bitcoin maximalists and supporters largely align with Senator Lummis’s stance—that the United States needs a Strategic Bitcoin Reserve and should actively work toward establishing one. Advocates like Jack Mallers, Dennis Porter, David Bailey, Robert F. Kennedy Jr., Saifedean Ammous, and Michael Saylor have been pushing for Bitcoin exclusivity. While I’m not a Bitcoin maximalist, I mostly agree with them on this issue.
Now that we’ve addressed the confusion over terminology, let’s dive deeper into Trump’s post—specifically, the fact that his executive order did NOT direct the Presidential Working Group to establish a Crypto Strategic Reserve including XRP, SOL, and ADA. This is the first time Trump has directly mentioned these tokens, fueling speculation about the “Made in America” narrative.
It’s also worth noting that the executive order never used the word “reserve.” It specifically referred to a “stockpile”—two distinct terms with different implications.
I’m not sure if Trump is aware of this distinction, but traditionally, a reserve refers to assets set aside for long-term stability, often managed for strategic or monetary purposes, like a national gold reserve. A stockpile, on the other hand, refers to an accumulation of resources for potential use, often in response to future needs or emergencies. In the case of crypto, any assets acquired under government control would likely fall into a stockpile, while intentionally purchased assets would be considered part of a reserve.
When that original post dropped, X went up in flames. But as it turns out, the word “includes” doesn’t necessarily imply that Bitcoin or Ethereum were excluded. Crypto Twitter never considered that possibility, but an hour later, Trump clarified what he meant and put out the fire.
Political opinions aside, we should all know by now that Trump isn’t exactly a master of precise language. He’s not losing sleep over crypto semantics the way we are, and it’s probably not worth reading too much into.
And to that post, Eric Trump quoted:
This is undeniably bullish news—almost everyone who owns crypto benefits. If Trump follows through and includes these assets in the reserve, he’ll be celebrated as a hero by most crypto holders, winning over a broad spectrum of supporters—except for Bitcoin maximalists. But let’s be honest, Bitcoin maxis are never satisfied. For them, it’s not just about Bitcoin winning; Bitcoin has to be the only winner.
Do I think adding these assets to a reserve is good for crypto holders? Absolutely. Do I think it’s the best long-term move for the country? That’s debatable. I don’t have a major issue with altcoins being considered—or even included—but the real question is: how will allocation decisions be made? This is a slippery slope, and we’ve probably already started sliding down it. It’s also suspicious that SOL, XRP, and ADA were singled out early, which makes me think there was lobbying or some behind-the-scenes dealing. David Sacks invested in Solana early. Charles Hoskinson from Cardano has spoken openly about getting closer to the administration. Ripple has lobbied aggressively. These may be coincidences, to be fair.
Everyone is entitled to their own opinion, and I don’t expect universal agreement here, but I’m not convinced these assets fully represent the core principles of decentralization, transparency, permissionless access, censorship resistance, and financial freedom the way Bitcoin does. To be fair, Ethereum also falls short in some areas. Then again, I doubt Trump is losing sleep over these philosophical nuances—he’s playing his own game.
While these assets have strong communities and use cases, their centralized governance is a legitimate concern. XRP’s supply is largely controlled by Ripple Labs, Cardano is heavily reliant on a small group of stakeholders, and Solana’s validator network has well-documented centralization issues. So, do these assets align with the principles of decentralization and trustlessness enough to be considered future investments for America? Ehhhh…
If a Bitcoin Cash or Ethereum Classic conference had a big enough crowd and the right financial incentives, Trump probably would have shown up and included them too. He’s playing the game for himself—and for us—but not necessarily for the long-term benefit of the country.
At this point, it’s worth mentioning that none of this is a done deal. It will almost certainly require congressional approval. While I’m not a legal expert (do your own research), Trump’s orders to the Presidential Working Group and his discussions with various agencies likely aren’t enough to make this happen on their own. Congressional approval seems even more necessary now, especially since this plan would involve purchasing assets the government doesn’t currently own.
Will Congress approve a plan to buy BTC, ETH, SOL, XRP, ADA, and potentially others? Even with control over Congress, does Trump have enough influence to push through assets most lawmakers barely understand? I have my doubts. Maybe I’m overthinking it, but if history has taught us anything, nothing in crypto comes easy… maybe this time is different.
So far, state legislators have already rejected five separate Bitcoin/digital asset bills at the earliest stages.
For those keeping track, Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming all voted against Bitcoin-related proposals—despite being solidly red states that Trump won. Wyoming is the home of Senator Lummis, who is the person behind the NATIONAL Bitcoin Strategic Reserve Bill.
The eventual proposal outlining asset allocation will be a massive point of contention. The market impact and political consequences of deciding which assets get priority—and in what quantities—will be significant. I assume BTC will take the majority, with ETH next, as they’ll likely be at the “heart of the reserve,” while other assets make up a smaller percentage.
Also, Bitcoin and Ethereum aren’t afterthoughts just because they were listed second. Trump explicitly stated they would be at the heart of the reserve, which clearly signals their priority over XRP, SOL, and ADA.
It’s almost poetic that Trump is the one pulling crypto back from the edge. There’s no better way to frame this moment than watching asset prices fall, then Trump posting on a Sunday—where his words would have maximum impact due to thin liquidity—and forcing Wall Street to sit on the sidelines until Monday, creating even more FOMO. Say what you want about Trump, but he knows how to deliver a dramatic script. As I said after the $TRUMP token launch…
I stand by that.
In the meantime, try not to get too caught up in speculation. Trump has effectively picked his favorites: BTC, ETH, XRP, SOL, and ADA. This is bullish for altcoins, but for now, investors should focus on those five - and perhaps anything that the Trump family personally invests in through World Liberty Financial.
My goal isn’t to praise or criticize Trump, but to help you take a balanced approach. It’s easy to get swept up in emotions—whether loving or hating Trump—and ignore the details. After all, he’s already done far more for crypto than the previous administration, and that’s worth acknowledging.
On to the biggest story this week…
This Friday is going to be a big day. Below are the details of the summit.
My advice? Keep watching closely. It feels like the later stages of this bull market will be shaped largely by U.S. government actions. Ideally, another major narrative emerges alongside this one, giving us multiple catalysts. But for now, all eyes are on the U.S.
Feels good to see some green again.
Bitcoin Thoughts And Analysis
Altcoin Charts
For those who are new here, I share SETUPS and not SIGNALS. These are ideas that I am watching - if a certain thing happens, then the trade triggers. I am not telling you what to buy or when. I am showing you how I am watching certain charts and what has to happen for me to take a trade.
The Ethereum/Bitcoin daily chart is showing a notable bullish divergence, with price making lower lows while RSI is making higher lows. This is a classic reversal signal, especially as it emerges from oversold territory.
Volume also confirms growing interest, as buyers stepped in aggressively on the recent dip. However, while this divergence increases the probability of a bounce, ETH/BTC still needs to break above key resistance levels to confirm a trend shift. Until then, this remains a potential bottoming signal rather than a confirmed reversal.
Solana's daily chart shows a strong bounce from key support around $125, leading to a sharp rally that topped out near $180, right at a critical resistance level. This area also aligns with previous price structure and the 200-day moving average (red line), reinforcing its importance.
The rejection at $180 indicates that sellers stepped in at a well-defined level, preventing further upside for now. To confirm a breakout, SOL needs to flip this resistance into support. Otherwise, failure to reclaim this level could lead to another pullback, potentially toward the mid-range of the recent move.
Volume on the recovery was notable, showing strong buyer interest, but follow-through will be crucial. Bulls will want to see consolidation and another push higher rather than a swift rejection back toward lower levels.
Legacy Markets
The euro strengthened while defense stocks soared as European leaders ramped up military spending commitments. The Stoxx 600 rose 0.2% near all-time highs, driven by BAE Systems (+13%), Rheinmetall (+16%), and Saab (+11%). European bond yields climbed amid concerns over increased debt issuance to fund defense and infrastructure.
Bitcoin reversed gains after surging Sunday on Trump’s comments about a strategic crypto reserve. Meanwhile, investors are closely watching the looming US tariff deadline, with sweeping levies set to hit $1.5 trillion in imports from China, Canada, and Mexico starting Tuesday. The tariffs include a 25% rate on most North American goods, except for Canadian energy, which faces 10%, and an increase in Chinese import duties to 20%.
S&P 500 futures were little changed, while US Treasury yields rose slightly. Market focus remains on geopolitical risks, potential last-minute trade negotiations, and China’s upcoming annual policy meeting.
Key events this week:
Eurozone CPI, HCOB manufacturing PMI, Monday
UK S&P Global manufacturing PMI, Monday
Japan unemployment, Tuesday
Eurozone unemployment, Tuesday
US President Donald Trump’s speech to a joint session of Congress, Tuesday
Australia GDP, Wednesday
China Caixin services PMI, Wednesday
China’s National People’s Congress, Wednesday
Eurozone HCOB services PMI, PPI, Wednesday
BOE Governor Andrew Bailey and colleagues speak, Wednesday
Eurozone retail sales, ECB rate decision, Thursday
Eurozone GDP, Friday
US nonfarm payrolls, consumer credit, Friday
Some of the main moves in markets:
Stocks
The Stoxx Europe 600 rose 0.2% as of 9:16 a.m. London time
S&P 500 futures were little changed
Nasdaq 100 futures rose 0.2%
Futures on the Dow Jones Industrial Average fell 0.2%
The MSCI Asia Pacific Index rose 0.8%
The MSCI Emerging Markets Index was little changed
Currencies
The Bloomberg Dollar Spot Index fell 0.3%
The euro rose 0.4% to $1.0417
The Japanese yen rose 0.4% to 150.02 per dollar
The offshore yuan fell 0.1% to 7.3033 per dollar
The British pound rose 0.3% to $1.2615
Cryptocurrencies
Bitcoin fell 2.6% to $91,813.09
Ether fell 7.1% to $2,347.08
Bonds
The yield on 10-year Treasuries advanced two basis points to 4.23%
Germany’s 10-year yield advanced one basis point to 2.42%
Britain’s 10-year yield advanced five basis points to 4.53%
Commodities
Brent crude fell 0.6% to $72.40 a barrel
Spot gold rose 0.4% to $2,869.39 an ounce
XRP Flips ETH By FDV
There’s an important distinction to be made here. In terms of total market cap, Ethereum remains firmly in the #2 spot, with Ripple trailing just behind. However, when looking at fully diluted valuation (FDV)—which reflects the market cap if all tokens were in circulation—XRP briefly surpassed ETH. I didn’t capture this moment in the image below, but you can see how close the two assets are. This doesn’t hold much significance beyond highlighting the fact that only 58% of XRP’s total supply is currently in circulation. That’s why this anomaly occurred. If the remaining 42% were released all at once, XRP’s market cap and FDV would both drop substantially.
Vitalik And Ross Defend Roger Ver
Roger Ver, the man behind Bitcoin Cash who famously forked Bitcoin years ago, is now facing extradition from Spain to the U.S., where he could face up to 109 years in prison for tax evasion. Putting aside crypto politics, a life sentence for Ver would be extreme—bordering on cruel and unusual punishment. While he’s certainly ruffled feathers in the crypto space, that’s not a crime. And even if he misrepresented the taxes he owed, the idea that such an offense warrants a century-long sentence is absurd.
Vitalik said the following about Roger Ver:
“Going to prison for the rest of your life over non-violent tax offenses is absurd. The case against Roger seems very politically motivated; like with Ross Ulbricht, there have been plenty of people and corporations who have been accused of far worse and yet faced sentences far milder than what Roger is facing.”
“Genuine good faith mistakes should be treated by giving the actor the opportunity to pay back taxes if needed with interest and penalties, not with prosecution.”
There have been numerous cases of tax evasion by corporations with far larger sums of money, yet they’ve often resulted in fines or much lighter prison sentences. This seems to be a targeted attack specifically on Roger Ver.
Ethereum Continues To Make Leadership Changes
Ethereum has taken plenty of heat for its leadership decisions, but credit where it’s due—Vitalik is clearly listening to the community, and real changes are happening. One of the most respected figures in the space, Danny Ryan, is joining Etherealize as a co-founder alongside Vivek Ramen. While Etherealize isn’t part of the Ethereum Foundation, it’s quickly shaping up to be a major force in pushing Ethereum forward.
As for the Ethereum Foundation, this news dropped:
Both Hsiao-Wei Wang and Tomasz Stanczak have impressive resumes within the community and should be warmly welcomed into their new roles.
This Seems Like Insider Trading
It’s hard to chalk this up to mere coincidence. A crypto whale dropping $4 million to open a 50x leveraged position—effectively controlling $200 million worth of Bitcoin and Ethereum—right before a major market move is suspicious at best. Within a day, the market surged in their favor, and they walked away with a $6.8 million profit.
Given the timing, it’s difficult to believe no one within Trump’s circle—or someone connected to them—had advance knowledge of what was coming and acted accordingly. This wouldn’t be the first time someone with privileged information placed a well-timed bet in the crypto market, and it certainly won’t be the last.
Anthony Scaramucci EXPOSES Trump’s Shocking Bitcoin Plan!
On this episode of The Wolf Of All Streets, I sit down with Anthony Scaramucci to break down Trump’s unexpected crypto stance, the political power shift, and what it all means for Bitcoin. We cover everything from meme coins to Wall Street’s growing interest in digital assets—plus, Scaramucci’s unfiltered take on the biggest economic risks ahead. Whether you're bullish or bearish, this conversation is packed with insights you can't afford to miss!
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The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this e-mail constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.