On Monday, Trump Media & Technology Group (TMTG), the parent company of Truth Social and a symbol of MAGA-flavored tech disruption, disclosed a massive Bitcoin acquisition. The company is throwing $2 billion into BTC,  and isn’t shy about hinting there’s more where that came from.

Bitcoin is holding steady just under $120,000, Source: Bitcoin Liquid Index

The move drops like a hammer on the conventional wisdom that Bitcoin follows a neat, four-year halving cycle. You know the pattern: reward gets chopped in half, price pumps, peaks 12–18 months later, then crashes into a bear market that lasts until the next cycle. That tidy narrative has served analysts, traders, and meme-makers alike,  with bull peaks in 2013, 2017, and 2021.

Don’t Fight the President

You’ve heard “Don’t fight the Fed.” It’s gospel in TradFi. But in 2025, a new mantra is emerging for crypto: Don’t fight the President.

Trump isn’t just dabbling in crypto, he’s aligning U.S. policy, media, and tech influence behind Bitcoin at a level we haven’t seen before ,  not even during the early Coinbase IPO hype cycle. His administration is pushing pro-crypto legislation (see: the GENIUS Stablecoin Act), cutting red tape, and now his media company is going long on the hardest digital asset in existence.

As the pseudonymous macro analyst EndGame Macro noted, “No one spends $2 billion on an ultra-volatile asset unless they’re betting on a shift in the entire liquidity regime.” 

Trump’s camp is betting that rate cuts are coming, the dollar is heading for dilution, and Bitcoin will be one of the biggest winners when the liquidity firehose gets turned back on. 

Betting Against Powell, Doubling Down on Bitcoin

Trump has made no secret of his disdain for Fed Chair Jerome Powell,  a man he appointed, then repeatedly lambasted. The former (and possibly future) President has railed against Powell’s refusal to lower interest rates, blaming him for draining household wealth and stifling growth.

Now, through TMTG’s BTC buy, Trump is turning that frustration into a financial strategy. The $2B Bitcoin position isn’t just a bullish bet on crypto, it’s a tactical bet against Powell, the Fed’s high-rate stance, and a U.S. dollar that Trump believes is on the brink of debasement.

If the Fed stays hawkish, sure, TMTG could be exposed to brutal downside. But the bet here is that Powell won’t, or can’t, hold the line. Political pressure, slowing growth, and cooling inflation will force the Fed’s hand.

Goldman Sachs: Cuts Coming in September

That thesis is gaining traction. Goldman Sachs now expects the Fed to begin cutting rates in September, with three 25-basis-point reductions penciled in for the remainder of the year, the meetings on Sept. 17, Oct. 29, and Dec. 10 are the ones to watch.

That dovish tilt could reignite the risk-on narrative, especially for assets sensitive to liquidity like Bitcoin, tech stocks, and real estate. If inflation expectations stay grounded, the path of least resistance is clear: lower rates, weaker dollar, higher asset prices. It’s the same script that sent BTC from $5K to $69K during the COVID stimulus bonanza.

What’s different this time? The political backing. Trump is putting his name,  and his media empire behind Bitcoin. Trump’s BTC buy is a bold bet that we’re on the cusp of a macro inflection point. It’s not about halving cycles or hash rates,  it’s about liquidity, rates, and regime change.

The halving cycle was gospel when crypto was a niche insurgent asset. But with nation-state players, trillion-dollar asset managers, and now Presidents making macro bets, the game is changing. Position yourself accordingly. You don’t have enough Bitcoin.

 

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Filed under: Bitcoin - @ July 23, 2025 2:00 am