Bitcoin Price Surges 1,300% Since Fed’s ‘Infinite Cash’ Statement
A Presidential First
The first sitting US president addressed a bitcoin and crypto conference. In a pre-recorded message, Trump emphasized:
- The US aims to become a "bitcoin superpower."
- Criticism of the current administration's regulatory approach.
- "Operation Chokepoint 2.0" negatively impacts US-based bitcoin companies.
Moby Degen
A new trading event occurred on Hyperliquid involving a trader with a short position worth $449 million at 40x leverage. Key details include:
- The whale would profit if bitcoin stayed below $83,923.
- Traders attempted to liquidate the position.
- The whale managed to close their short profitably, netting $9 million.
Working as Intended
Five years ago, Minneapolis Fed President Neel Kashkari stated that there was an "infinite amount of cash" available to ensure banking system stability. Since then:
- The price of bitcoin has increased by 1,300%.
- The US dollar has lost 24% of its value due to inflation.