Tariffs, Dips, Sovereign Wealth Fund, Plan B
Plan A Bitcoin: The Playbook remains
My flight back from the Plan B Conference in El Salvador had no wi-fi. I had seen we dipped below 100k, only to find after landing we took a nice little dip further to 91k. Whatever, we are already back above 100k and climbing. The Take-Away: don’t waste your valuable time trying to figure out why and how Bitcoin price moves. This leads to a traders mindset. Also, Hash Rate hit a new all-time high, as the Bitcoin Network continues on its march of adoption, regardless of price.
Whether it was Trump’'s tariffs, or other factors, as Bitcoin surpasses a 2T market cap, its dynamics become more complex and at times correlated to global macroeconomics. Figuring out a single source for price action is a fool’s errand.
This new sovereign wealth fund.
It will be marketed by influencers and some Bitcoiners as bullish for Bitcoin. Perhaps. But you are smarter than that, think deeper.
Trump has openly said repeatedly, “we are going to drill baby drill.” So if that is true, the U.S. is also going to hoard baby hoard, when it comes to oil reserves, natural resources and the ability to control markets. The art of the deal remains. So while its cool to think this new sovereign wealth fund is a Bitcoin play, you can rest assured it likely is probably not. But, like any other fund, it makes sense to hold bitcoin, so We shall see. In time. In the meantime, don’t wait for the United States Government to validate what you hold. We can do that ourselves through building the ecosystem and world we want to see!
Plan B
The Plan B Conference was all time. Made a ton of new friends, caught up with some old ones, and hosted an epic panel with Jan 3 Founder Samson Mow, El Salvador Ambassador to the U.S. Milena Mayorga, Vancouver Mayor Ken Sim and Santa Monica Mayor Lana Negrete. I will post the panel on the Proof of Workforce Channel, when it is posted by Plan B. Huge thank you to the Plan B team, they did an amazing job, and I really enjoyed the conference. For me, the best moment was being able to have around an hour conversation with Adam Back, on the work we are doing at Proof of Workforce. To be able to sit down with someone whose work inspired Satoshi to build Bitcoin was amazing. He is also an incredibly kind and solid human.
It was also great to connect with Vancouver Mayor, Ken Sim, and share some ideas pertaining to Bitcoin and municipalities.
Lastly, I got a chance to go on the Bitcoin Beach Podcast. Mike Peterson. What a legend and all time solid human. Whats up with all these solid people in Bitcoin? Oh yeah, its one of the main reasons we continue to all work for Bitcoin to begin with. The people! Looking forward to sharing that here when it comes out.
Speaking of people, while in El Salvador, I caught up with my buddy Luis, who I’ve always used as a driver. I’ve always paid him in bitcoin, and tried to pass on any knowledge I can. He has also taught me a ton about El Salvador. After all these trips he updated me on things he has done to become more financially secure, including saving in Bitcoin, and exiting a toxic high interest (44%+) vehicle loan. He also threw some pretty great business ideas my way. We love to see it.
Imagine a money where when you spend it, it is also a gift in itself. What an amazing bond between peers when exchanging value. A bond that leads to so much more than just a transaction.
My guy’s tommy jeans swag is fire!!
Proof of Workforce Youtube Channel! I Need Your Help!
Working on a Proof of Workforce channel to help get the word out and share our work. It’s going to have 3 “lanes” of content.
Rank and File Podcast: This will be our anchor 20 min segment hosted by myself and Chris Alaimo. We will sometimes have guests and longer segments as well. And we will change the name every time until one sticks
Proof of Workforce in Action: This will be content from our work, educating and building Bitcoin initiatives for workers, unions, pension funds, and municipalities throughout the U.S. and globally.
Special Segments: This will be long form content bringing together some of the interesting folks we encounter in our work. This week coming up will be a Bitcoin Union Hall segment with myself, and the individuals from the 4 other unions that have adopted the Proof of Workforce: Get Off Zero Initiative.
Please share and subscribe. This will be a great channel, where we prioritize “Bitcoin Signal over Subs” as we say. But in order to do that, we need organic sharing of the channel and our work.
Thats all I got for now, sorry for the typos. And will have more soon. Until then, we stay working for Bitcoin. Stay Humble and stack sats.
*This is not financial advice. All readers are responsible for their own due diligence in any financial investment they make. Don’t trust, verify!