Bitcoin's doing the tango with the elephants! Specifically, yes, the White House – that White House – is now touting Bitcoin all over the place. Nobody anticipated this, and certainly not me. Before we all get too celebratory and start opening up the digital champagne, let’s discuss the possible dangerous hangover. Is this a genuine embrace, or a cynical power play that could leave the average Joe and Jane holding the bag?

Populism or Predatory Capitalism?

So while Trump’s move may sound great like a superb magician’s trick. Instead of a pinocchio, he pulls out a shiny, digital rabbit that promises you all sorts of riches. He’s going after the crypto-curious voter and the crypto-anarchist-leaning fringe. He wants to reach anyone who’s been disenfranchised by the traditional financial system. Here's the rub: unregulated Bitcoin adoption is a wealth transfer waiting to happen.

Think about it: Who benefits most from a surge in Bitcoin's price? The people who currently possess the majority of it. People like Michael Saylor, who's practically swimming in Bitcoin thanks to MicroStrategy's massive holdings (now reportedly 592,100 coins!). He’s BTC Prague 2025, right now, and we usually say supercilious, but smug would work. He should be! I’m happy for him, but what about the rest of us?

Imagine a graph representing wealth distribution. Now, picture that spike growing even bigger off the right side of the graph. It’s a straight line for the crypto-rich, and then the rest of the graph flattens out. That's the potential future we're facing.

  • Already Rich: Get Richer
  • Average Joe: Maybe a few scraps

Or is it truly about supporting the small businesses and the little guy? Or is the goal really just to further concentrate wealth in a few hands? Feels a bit like the latter.

Green Dreams or Dirty Reality?

Let's not forget the elephant in the (digital) room: Bitcoin mining. All those transactions, all that “decentralization,” comes at a steep environmental cost. We’re talking about millions of square feet consuming all that energy, usually generated by fossil fuels, releasing gigatons of carbon emissions into our atmosphere.

Tariff dumping conveniently sidesteps this inconvenient truth. Trump’s “Bitcoin-friendly” stance dives under the rug right at this point. It would be like trying to promote gas-guzzling SUVs and at the same time announcing you take climate change seriously. The hypocrisy is palpable.

We cannot stick our heads in the sand and wish the issue would resolve itself. Making this move toward renewables would require significant effort and energy. Realizing this transition requires money, regulation, and a real desire to act sustainably. Are we seeing any of that? Not really.

Perhaps we should learn from the past. Remember the dot-com boom? Much fanfare, many aspirations, and in the end… just a flame of burnt fingers. This feels eerily similar.

Regulation: Friend or Foe of Bitcoin?

These three fast-moving bills will regulate stablecoins, the market structure of cryptocurrencies, and blood diamonds—er, Bitcoin. On the surface, this talk seems amazing! Regulation can be a double-edged sword. When done right, it can better protect consumers, crack down on fraud, and level the playing field in our markets. Done right, it can promote innovation and open doors of opportunity.

  • Good Regulation: Protects the little guy
  • Bad Regulation: Favors the powerful

There’s a genuine danger in this. These regulations would likely be hijacked and manipulated by the very players that intended to capitalize on crypto’s new regulatory regime – bending regulations to fit their desires. What we do know is that the big banks are determining the rules of the road for the entire financial industry. This approach is a recipe for disaster. What we want is transparency, public input, and a whole lot more on making things fair.

Saylor’s eschewal of hardline anti-selfcustody rhetoric is interesting. What is worrisome is that MicroStrategy has been unwilling to publish a proof-of-reserves report. What are they hiding?

This isn't about being anti-Bitcoin. It’s time to stop pretending that being pro-fairness requires being anti-environment or anti-common sense. We must call for more regulation of the crypto industry, too, and more transparency from it. Support other policies that improve Bitcoin’s accessibility, while reducing any environmental harms. Contact your elected officials. Support organizations working on these issues. This is not a spectator sport.

BTC Prague conference, which is humming with excitement from the builders and the maximalists. Let’s bring ourselves back down to earth and resist the hype. Let's keep our eyes on the ball and make sure that Bitcoin's future is one that benefits everyone, not just a select few. Since currently at close to $100,000, the barrier of entry for most is already insurmountable. Don’t let Trump’s embrace become a bear hug for the small investor.

It's time to wake up and demand a better game.