March 2, 2025 • 13 mins
"America does not need a strategic crypto reserve. We don't need a strategic digital asset reserve. We need a strategic Bitcoin reserve. Unless our goal is to absolutely screw over the citizens of this country."
Donald Trump just announced a "Crypto Strategic Reserve," which includes Bitcoin, ETH, SOL, XRP, and ADA... So I figured I'd let you know my thoughts on this.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Here's the thing, all of these shitcoins, XRP, Sol, ADA,
(00:04):
all of the hundreds and thousands of others,
they are closer to fiat than they are to Bitcoin.
Bitcoin is an asset without an issuer.
All of these shitcoins have issuers, they have founders,
they have centralized corporations
or foundations that control them.
They print their tokens
like the Federal Reserve prints dollars out of thin air.
(00:27):
There is nothing backing them.
There is no real world energy,
nothing tangible tied to the creation of this vaporware.
So to policymakers, I would say this,
America does not need a strategic crypto reserve.
We don't need a strategic digital asset reserve.
We need a strategic Bitcoin reserve,
(00:49):
unless our goal is to absolutely screw
over the citizens of this country.
President Donald J. Trump just announced
a crypto strategic reserve on Truth Social.
Here's what the post said.
A U.S. crypto reserve will elevate this critical industry
(01:12):
after years of corrupt attacks
by the Biden administration,
which is why my executive order on digital assets
directed the presidential working group
to move forward on a crypto strategic reserve
that includes XRP, Sol, and ADA.
I will make sure the U.S. is the crypto capital of the world.
(01:32):
We are making America great again.
Now I wasn't planning on making a video,
but when this came out, I just felt that I needed to.
Obviously the first reaction that any Bitcoiner would have
is what the hell is going on.
However, any Bitcoiner who has been paying attention
to the fact that Trump has launched multiple NFT collections
(01:53):
on Ethereum and on Solana is not so surprised.
Additionally, days before his inauguration,
he launched his own shitcoin called Trump, shocking.
His wife also launched her Melania token,
which managed to siphon a lot of value
from the Trump token, but that's neither here nor there.
The point is this is not entirely surprising.
(02:15):
It's also not surprising,
consider that the shitcoin companies behind XRP, Solana,
and ADA have been funneling money to U.S. legislators,
to politicians for a long time.
Why have they been doing this?
Well, because they are in fact companies
with executives, with founders.
They have insiders who have enriched themselves massively
(02:36):
through pumping their tokens and dumping them on retail,
after of course giving themselves
a massive insider allocation.
Given that these are actual companies
behind these shitcoins, this basically amounts
to a crypto subsidy, it's crypto socialism for the rich.
Interestingly, just an hour after Trump made the original
post on Truth Social, he posted again,
(02:58):
this time saying, and obviously, BTC and ETH
as other valuable cryptocurrencies
will be at the heart of the reserve.
I also love Bitcoin and Ethereum.
So clearly some people around Trump
were paying attention to the backlash
that the inclusion of these shitcoins
has sparked in their strategic reserve.
So Trump felt the need to come out and say this.
(03:20):
Now again, the inclusion of Ethereum
in a strategic reserve doesn't really make much sense,
given that ETH is controlled by Vitalik Buterin
and the Ethereum Foundation.
It is another pre-mined insider allocated shitcoin.
Naval summed this up pretty well when he said on X,
the U.S. taxpayer should not be exit liquidity
(03:41):
for cryptocurrencies that are decentralized in name only.
He further went on to say, if it has a lobbyist,
it isn't decentralized.
And this is the key point here.
Ethereum, Solana, Ripple, XRP, Ada Cardano,
they all have centralized bodies that are controlling them.
(04:01):
They all have marketing teams, marketing budgets,
executives, foundations, lobbyists.
I'm honestly quite curious how much Ripple paid
to get XRP included in this,
because we know that their chairman of the board,
Chris Larson, spending $5 million to fund Greenpeace
to create anti-Bitcoin propaganda
was just a drop in the bucket.
(04:22):
So I'm assuming the price tag was a lot bigger
for Ripple's XRP inclusion in this strategic shitcoin reserve.
Now, I want to be clear,
and this is the reason I made this video.
It's not for me to just whine about the fact
that there's going to be shitcoins
included in this crypto strategic reserve.
It's about why I think that is such a bad idea.
(04:43):
It is a bad idea because these are, again,
centralized shitcoins.
These are not Bitcoin.
There is no second best.
All of these tokens have massive insider allocations.
They are not decentralized.
They are not secure.
They are run by groups of individuals.
Now, why do I care?
(05:03):
Why not just let the United States of America
go ahead and screw its citizens over yet again?
It's very good at doing that.
Let's just rug this thing, right?
Well, here's the thing.
I love the United States of America.
I am an American.
My handle is literally Walker America,
just in case there was any confusion.
I think that America was
(05:24):
and is the greatest country in the world.
We have a shitload of problems,
and now we've just added a few more to that
by including shitcoins in this crypto strategic reserve.
This would be like having a strategic reserve of gold,
which we still do allegedly at Fort Knox
and a couple other locations,
but also saying, you know,
I think we need a strategic reserve of tin
(05:47):
and maybe a little bit of aluminum in there too.
And while we're at it,
why don't we throw in some charcoal
for that strategic reserve?
Actually, that's not even a good example.
I'm sorry, because tin, aluminum and charcoal
are actually useful.
They have a purpose unlike these shitcoins,
which are literally useless.
They are scams.
Now, all of these shitcoins are going to pump
on this news, of course.
(06:09):
A bunch of people are going to pile in,
and insiders are then going to dump them
at some point in the future,
and not only wreck all the retail
that bought into this hype,
it's also going to hurt America.
Here's the thing, all of these shitcoins,
XRP, Sol, ADA, all of the hundreds and thousands of others,
they are closer to fiat than they are to Bitcoin.
(06:32):
Bitcoin is an asset without an issuer.
All of these shitcoins have issuers.
They have founders.
They have centralized corporations
or foundations that control them.
They print their tokens,
like the Federal Reserve prints dollars out of thin air.
There is nothing backing them.
There is no real world energy,
nothing tangible tied to the creation of this vaporware.
(06:55):
So to policymakers, I would say this,
America does not need a strategic crypto reserve.
We don't need a strategic digital asset reserve.
We need a strategic Bitcoin reserve,
unless our goal is to absolutely screw over
the citizens of this country.
I know there have been a lot of Bitcoiners
(07:17):
and several politicians who have actually been working
to make sure that this is a strategic Bitcoin only reserve.
To those people, I say thank you.
I'm sure this is even more upsetting for you
than it is for the average Bitcoiner.
Now, looking at this from a different angle,
maybe this is a good thing.
I mean, it's a good thing if you want to essentially
accelerate the demise of the state as we know it.
(07:40):
Maybe that's the goal.
Maybe Trump is playing 4D chess.
And what he really wants to do
is have the federal government get rugged
so that it has to shrink even more.
Who can say, I don't have a crystal ball?
Now, zooming out, is this good for Bitcoin?
Yeah, everything's good for Bitcoin.
Does this also enrich a bunch of insiders,
(08:01):
VCs, founders, foundations, companies
that operate these shitcoins?
Yes, honestly for me, it's a question of am I okay
with pumping my own bags at the expense
of the American people?
Because the strategic Bitcoin, or excuse me,
strategic crypto reserve is supposed to be something
that is good for the American people, right?
(08:22):
That's why we're doing it.
The reason that it should be Bitcoin only
is because Bitcoin is the only truly decentralized,
secure, immutable cryptocurrency.
The rest of these altcoins are not alternatives at all.
They are shitcoins.
All of these shitcoins are going to trend to zero
in terms of Bitcoin.
Bitcoin doesn't need these other shitcoins to survive.
(08:44):
These other shitcoins do need Bitcoin to pump.
Otherwise, they always continue to dump.
And regardless, they dump in value against Bitcoin
over long time frames.
Sure, all of these shitcoins are going to pump
more than Bitcoin does today.
And if you are an insider at one of these crypto companies
that runs these shitcoins,
you're probably pretty darn happy right now,
(09:06):
lobbying dollars well spent.
Congratulations.
But what I would ask to people in general is this.
Do you genuinely think that it is a good idea
for the United States of America,
for the American taxpayer to have a strategic reserve
that is comprised of assets that are controlled
by centralized groups?
Or do you think the only asset
(09:28):
that could possibly merit inclusion in a strategic reserve
would be the only strategically decentralized,
secure and immutable asset?
Bitcoin, the only asset that is verifiably scarce,
21 million Bitcoin, that's it, forever.
The thing is, absolutely no one can tell you with certainty
what the maximum supply of Solana, XRP, Ethereum, or ADA is.
(09:53):
Sure, their founders could probably give you
a ballpark number,
but you have no guarantee that that is not subject to change.
Bitcoin is an asset without an issuer.
It has a fixed inflation schedule.
Its monetary policy is set in stone.
Ripple can't even find the first 30,000 or so blocks
from their blockchain.
Ethereum has rolled back before and probably will again.
(10:16):
Solana starts and stops their blockchain
more often than a dog with a prostate issue.
And ADA, honestly, I just don't even feel
like wasting my breath.
The sad thing is, a lot of people
are going to end up getting absolutely wrecked
because they are going to pile into these shitcoins
that have just now gotten the endorsement
of the president of the United States.
These shitcoins may go up quite a bit in the short term.
(10:39):
Great, great for the insiders especially,
but not good for the people who jump on the bandwagon
when there's a lot of hype,
only to get rugged when those insiders
with the largest allocations
decide to dump a bunch of their tokens.
What I want to leave you with is this.
If you are a bit coiner, nothing has changed.
Bitcoin doesn't need politicians.
(11:01):
Bitcoin doesn't need a strategic reserve.
Bitcoin doesn't need the endorsement of the president.
All of these other shitcoins, XRP, Sol, ADA, all the rest,
they do need a crypto strategic reserve.
They do need the endorsement of the government
and politicians.
Why?
Because they are valueless.
(11:22):
Their only true utility is separating retail investors
from their hard-earned money
and using it to enrich their own insiders.
But remember, Bitcoin doesn't care.
Bitcoin will continue producing new blocks
about every 10 minutes.
It will continue automatically adjusting its difficulty
every couple of weeks.
It will continue having its newly issued supply
(11:45):
every four years.
Again, Bitcoin doesn't need politicians,
a strategic reserve, or the president.
The president, the strategic reserve,
and politicians need Bitcoin.
So what can you as a bit coiner do
if you don't like that there are shitcoins
being added to a national stockpile of digital assets?
(12:05):
Well, you can make your voice heard.
Give your congressman or senator a call.
You can also just meme the ever-loving shit
out of this thing because it is honestly so absurd
that it is absolutely ripe for the creation
of some super dank memes.
Ultimately, I think this is a great reminder
that if you put your faith in politicians,
(12:26):
you are going to be disappointed eventually.
And remember, Bitcoin is going to go up forever.
All prices will fall to their marginal cost of production
relative to Bitcoin.
And the marginal cost of production for shitcoins
like XRP, Sol, and ADA is zero.
All of these shitcoins will fall to zero against Bitcoin.
(12:49):
As will the US dollar, as will every fiat currency.
So use this as an opportunity.
There is clearly still a massive information
asymmetry at play here.
The leader of the free world still thinks
that shitcoins have a place in a strategic stockpile.
What does that mean?
Well, it means we're still early.
So zoom out, make your voice heard, make memes,
(13:13):
go touch grass, spend time with your family,
keep stacking sats, and do something
that creates value for this world.
In other words, don't be a shitcoiner.
All right, then.
Here's the thing, all of these shitcoins, XRP, Sol, ADA,
(00:04):
all of the hundreds and thousands of others,
they are closer to fiat than they are to Bitcoin.
Bitcoin is an asset without an issuer.
All of these shitcoins have issuers, they have founders,
they have centralized corporations
or foundations that control them.
They print their tokens
like the Federal Reserve prints dollars out of thin air.
(00:27):
There is nothing backing them.
There is no real world energy,
nothing tangible tied to the creation of this vaporware.
So to policymakers, I would say this,
America does not need a strategic crypto reserve.
We don't need a strategic digital asset reserve.
We need a strategic Bitcoin reserve,
(00:49):
unless our goal is to absolutely screw
over the citizens of this country.
President Donald J. Trump just announced
a crypto strategic reserve on Truth Social.
Here's what the post said.
A U.S. crypto reserve will elevate this critical industry
(01:12):
after years of corrupt attacks
by the Biden administration,
which is why my executive order on digital assets
directed the presidential working group
to move forward on a crypto strategic reserve
that includes XRP, Sol, and ADA.
I will make sure the U.S. is the crypto capital of the world.
(01:32):
We are making America great again.
Now I wasn't planning on making a video,
but when this came out, I just felt that I needed to.
Obviously the first reaction that any Bitcoiner would have
is what the hell is going on.
However, any Bitcoiner who has been paying attention
to the fact that Trump has launched multiple NFT collections
(01:53):
on Ethereum and on Solana is not so surprised.
Additionally, days before his inauguration,
he launched his own shitcoin called Trump, shocking.
His wife also launched her Melania token,
which managed to siphon a lot of value
from the Trump token, but that's neither here nor there.
The point is this is not entirely surprising.
(02:15):
It's also not surprising,
consider that the shitcoin companies behind XRP, Solana,
and ADA have been funneling money to U.S. legislators,
to politicians for a long time.
Why have they been doing this?
Well, because they are in fact companies
with executives, with founders.
They have insiders who have enriched themselves massively
(02:36):
through pumping their tokens and dumping them on retail,
after of course giving themselves
a massive insider allocation.
Given that these are actual companies
behind these shitcoins, this basically amounts
to a crypto subsidy, it's crypto socialism for the rich.
Interestingly, just an hour after Trump made the original
post on Truth Social, he posted again,
(02:58):
this time saying, and obviously, BTC and ETH
as other valuable cryptocurrencies
will be at the heart of the reserve.
I also love Bitcoin and Ethereum.
So clearly some people around Trump
were paying attention to the backlash
that the inclusion of these shitcoins
has sparked in their strategic reserve.
So Trump felt the need to come out and say this.
(03:20):
Now again, the inclusion of Ethereum
in a strategic reserve doesn't really make much sense,
given that ETH is controlled by Vitalik Buterin
and the Ethereum Foundation.
It is another pre-mined insider allocated shitcoin.
Naval summed this up pretty well when he said on X,
the U.S. taxpayer should not be exit liquidity
(03:41):
for cryptocurrencies that are decentralized in name only.
He further went on to say, if it has a lobbyist,
it isn't decentralized.
And this is the key point here.
Ethereum, Solana, Ripple, XRP, Ada Cardano,
they all have centralized bodies that are controlling them.
(04:01):
They all have marketing teams, marketing budgets,
executives, foundations, lobbyists.
I'm honestly quite curious how much Ripple paid
to get XRP included in this,
because we know that their chairman of the board,
Chris Larson, spending $5 million to fund Greenpeace
to create anti-Bitcoin propaganda
was just a drop in the bucket.
(04:22):
So I'm assuming the price tag was a lot bigger
for Ripple's XRP inclusion in this strategic shitcoin reserve.
Now, I want to be clear,
and this is the reason I made this video.
It's not for me to just whine about the fact
that there's going to be shitcoins
included in this crypto strategic reserve.
It's about why I think that is such a bad idea.
(04:43):
It is a bad idea because these are, again,
centralized shitcoins.
These are not Bitcoin.
There is no second best.
All of these tokens have massive insider allocations.
They are not decentralized.
They are not secure.
They are run by groups of individuals.
Now, why do I care?
(05:03):
Why not just let the United States of America
go ahead and screw its citizens over yet again?
It's very good at doing that.
Let's just rug this thing, right?
Well, here's the thing.
I love the United States of America.
I am an American.
My handle is literally Walker America,
just in case there was any confusion.
I think that America was
(05:24):
and is the greatest country in the world.
We have a shitload of problems,
and now we've just added a few more to that
by including shitcoins in this crypto strategic reserve.
This would be like having a strategic reserve of gold,
which we still do allegedly at Fort Knox
and a couple other locations,
but also saying, you know,
I think we need a strategic reserve of tin
(05:47):
and maybe a little bit of aluminum in there too.
And while we're at it,
why don't we throw in some charcoal
for that strategic reserve?
Actually, that's not even a good example.
I'm sorry, because tin, aluminum and charcoal
are actually useful.
They have a purpose unlike these shitcoins,
which are literally useless.
They are scams.
Now, all of these shitcoins are going to pump
on this news, of course.
(06:09):
A bunch of people are going to pile in,
and insiders are then going to dump them
at some point in the future,
and not only wreck all the retail
that bought into this hype,
it's also going to hurt America.
Here's the thing, all of these shitcoins,
XRP, Sol, ADA, all of the hundreds and thousands of others,
they are closer to fiat than they are to Bitcoin.
(06:32):
Bitcoin is an asset without an issuer.
All of these shitcoins have issuers.
They have founders.
They have centralized corporations
or foundations that control them.
They print their tokens,
like the Federal Reserve prints dollars out of thin air.
There is nothing backing them.
There is no real world energy,
nothing tangible tied to the creation of this vaporware.
(06:55):
So to policymakers, I would say this,
America does not need a strategic crypto reserve.
We don't need a strategic digital asset reserve.
We need a strategic Bitcoin reserve,
unless our goal is to absolutely screw over
the citizens of this country.
I know there have been a lot of Bitcoiners
(07:17):
and several politicians who have actually been working
to make sure that this is a strategic Bitcoin only reserve.
To those people, I say thank you.
I'm sure this is even more upsetting for you
than it is for the average Bitcoiner.
Now, looking at this from a different angle,
maybe this is a good thing.
I mean, it's a good thing if you want to essentially
accelerate the demise of the state as we know it.
(07:40):
Maybe that's the goal.
Maybe Trump is playing 4D chess.
And what he really wants to do
is have the federal government get rugged
so that it has to shrink even more.
Who can say, I don't have a crystal ball?
Now, zooming out, is this good for Bitcoin?
Yeah, everything's good for Bitcoin.
Does this also enrich a bunch of insiders,
(08:01):
VCs, founders, foundations, companies
that operate these shitcoins?
Yes, honestly for me, it's a question of am I okay
with pumping my own bags at the expense
of the American people?
Because the strategic Bitcoin, or excuse me,
strategic crypto reserve is supposed to be something
that is good for the American people, right?
(08:22):
That's why we're doing it.
The reason that it should be Bitcoin only
is because Bitcoin is the only truly decentralized,
secure, immutable cryptocurrency.
The rest of these altcoins are not alternatives at all.
They are shitcoins.
All of these shitcoins are going to trend to zero
in terms of Bitcoin.
Bitcoin doesn't need these other shitcoins to survive.
(08:44):
These other shitcoins do need Bitcoin to pump.
Otherwise, they always continue to dump.
And regardless, they dump in value against Bitcoin
over long time frames.
Sure, all of these shitcoins are going to pump
more than Bitcoin does today.
And if you are an insider at one of these crypto companies
that runs these shitcoins,
you're probably pretty darn happy right now,
(09:06):
lobbying dollars well spent.
Congratulations.
But what I would ask to people in general is this.
Do you genuinely think that it is a good idea
for the United States of America,
for the American taxpayer to have a strategic reserve
that is comprised of assets that are controlled
by centralized groups?
Or do you think the only asset
(09:28):
that could possibly merit inclusion in a strategic reserve
would be the only strategically decentralized,
secure and immutable asset?
Bitcoin, the only asset that is verifiably scarce,
21 million Bitcoin, that's it, forever.
The thing is, absolutely no one can tell you with certainty
what the maximum supply of Solana, XRP, Ethereum, or ADA is.
(09:53):
Sure, their founders could probably give you
a ballpark number,
but you have no guarantee that that is not subject to change.
Bitcoin is an asset without an issuer.
It has a fixed inflation schedule.
Its monetary policy is set in stone.
Ripple can't even find the first 30,000 or so blocks
from their blockchain.
Ethereum has rolled back before and probably will again.
(10:16):
Solana starts and stops their blockchain
more often than a dog with a prostate issue.
And ADA, honestly, I just don't even feel
like wasting my breath.
The sad thing is, a lot of people
are going to end up getting absolutely wrecked
because they are going to pile into these shitcoins
that have just now gotten the endorsement
of the president of the United States.
These shitcoins may go up quite a bit in the short term.
(10:39):
Great, great for the insiders especially,
but not good for the people who jump on the bandwagon
when there's a lot of hype,
only to get rugged when those insiders
with the largest allocations
decide to dump a bunch of their tokens.
What I want to leave you with is this.
If you are a bit coiner, nothing has changed.
Bitcoin doesn't need politicians.
(11:01):
Bitcoin doesn't need a strategic reserve.
Bitcoin doesn't need the endorsement of the president.
All of these other shitcoins, XRP, Sol, ADA, all the rest,
they do need a crypto strategic reserve.
They do need the endorsement of the government
and politicians.
Why?
Because they are valueless.
(11:22):
Their only true utility is separating retail investors
from their hard-earned money
and using it to enrich their own insiders.
But remember, Bitcoin doesn't care.
Bitcoin will continue producing new blocks
about every 10 minutes.
It will continue automatically adjusting its difficulty
every couple of weeks.
It will continue having its newly issued supply
(11:45):
every four years.
Again, Bitcoin doesn't need politicians,
a strategic reserve, or the president.
The president, the strategic reserve,
and politicians need Bitcoin.
So what can you as a bit coiner do
if you don't like that there are shitcoins
being added to a national stockpile of digital assets?
(12:05):
Well, you can make your voice heard.
Give your congressman or senator a call.
You can also just meme the ever-loving shit
out of this thing because it is honestly so absurd
that it is absolutely ripe for the creation
of some super dank memes.
Ultimately, I think this is a great reminder
that if you put your faith in politicians,
(12:26):
you are going to be disappointed eventually.
And remember, Bitcoin is going to go up forever.
All prices will fall to their marginal cost of production
relative to Bitcoin.
And the marginal cost of production for shitcoins
like XRP, Sol, and ADA is zero.
All of these shitcoins will fall to zero against Bitcoin.
(12:49):
As will the US dollar, as will every fiat currency.
So use this as an opportunity.
There is clearly still a massive information
asymmetry at play here.
The leader of the free world still thinks
that shitcoins have a place in a strategic stockpile.
What does that mean?
Well, it means we're still early.
So zoom out, make your voice heard, make memes,
(13:13):
go touch grass, spend time with your family,
keep stacking sats, and do something
that creates value for this world.
In other words, don't be a shitcoiner.
All right, then.
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