GM. This is Milk Road, the crypto newsletter that's as exciting as attending Bitcoin 2024—overflowing with juicy insights and laughs.

Here’s what we got for you today:

US BUYING BITCOIN? TRUMP, RFK JR., AND LUMMIS' PLANS 🇺🇲

Today, we’re about to milk the frothiest buzz from this weekend’s Bitcoin 2024 conference: Bitcoin becoming a national strategic asset reserve for the US government . 🥛 

Yep, the U.S. politicians that made their way to Nashville talked about stocking up on $BTC like it's the hottest new dairy-free latte. ☕

These plans could shake the crypto space like never before. 🌌

Let’s break down what we got and from who:

1/ Donald Trump 

Trump delivered what felt like a comedy special, he stuck to his own type of dairy, cheese 🧀 (He did commit to fire Gary Gensler on day 1 which sent the crowd BANANAS). 🐒

There were not a whole lot of details but his words were for sure bullish Bitcoin (and crypto in general) throughout the speech. 

He did state that if he gets elected, he wants to HODL the U.S. government’s current stash of 210,000 $BTC  (which they snagged from seized assets). 

That’s right, he’s played it cool and fun, remarking on maintaining what Uncle Sam already has but also left some wondering if he actually gets it.

2/ Robert F. Kennedy Jr. (RFK Jr.) 

RFK Jr. went full throttle, proposing the U.S. should acquire a whopping 4 million BTC… 🤯

That's about 20% of the total Bitcoin supply. Imagine the FOMO! (Hong Kong lawmakers already proposed a strategic reserve after the event). 

He plans to sign an executive order on day 1 directing the treasury to buy 550 $BTC every day until this massive reserve is built (as well as move the 210K $BTC seized to treasury).

Critics like Peter Schiff say it's just a tactic to buy votes, but hey, 4M $BTC? That's bold and you could feel RFK’s conviction (this was his second BTC conference btw).

3/ Senator Cynthia Lummis 

Senator Lummis, kinda like Goldielocks, is aiming for a cool 1 million $BTC reserve (~5% of total supply).

She introduced a bill that would start with the 210,000 $BTC the government already has and add 790,000 $BTC over five years. 

Her pitch? A Bitcoin reserve to slice the national debt in half by 2045. Talk about ambitious, here’s what one person compared it to:

That’s all some serious crypto clout. But like any bill, it needs to work its way through the legislative maze.

“WAITING TO BECOME A LAWWWWW” 🎶 (sorry the Milk Man loved SchoolHouse Rock)

So, what’s the big deal? 🤔

Government Bitcoin buys = 🚀. More demand, same supply. You do the math.

🥛Milk Road Take: This is all wildly bullish, but not so fast. There's a lot that needs to be done to actually get any of this to become a reality. 

Trump or RFK Jr. need to win the election, navigate the legislative maze, and get on the same page with the U.S. Treasury.

It's gonna take some serious elbow grease. 

That being said, it's still HUGE that this is being discussed in U.S. politics, let alone from leading presidential candidates. All under the Bitcoin 2024 conference roof, what an event!

PS: Just before publish we got news that $2B of the US $BTC is on the move. Where do you think it’s headed?! 👀 

A/ To the treasury

B/ To Coinbase to sell

C/ Just a random wallet move for security

D/ The Dems heard Trump's speech and snatched this campaign tactic away. 🤫

Conspiracy theory?

Maybe. But stranger things have happened, right?

Hit 'Reply' and let us know what you think!

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WHAT TO WATCH FOR THIS WEEK 🧐

Here’s to another thrilling week in our lovely crypto universe! Let’s dive into the key events and trends that could shake up the market.

This week is going to be a fun one and the Milk Man's been itching to let the cat out of the bag.

1/ Key macro events 🔢 

The Federal Reserve and economic data releases are set to play a big role this week. 📆

Here's the lineup:

2/ Earnings reports 💲

Earnings representing 40% of the S&P 500 market cap are dropping this week, including some heavy hitters like MSFT, META, AAPL, and AMZN. 🥊

Earnings reports from the big players can really shake things up. A killer report? Investors go wild. A dud? Cue panic selling.

Last week, a disappointing report from Tesla rocked both stock and crypto markets. 🤕

Stay alert, it's going to be a fun ride!

3/ Token unlocks 🔓

This week, a whopping $368.19M worth of tokens are set to unlock, so brace yourselves for potential price turbulence!

Schedule:

Big token unlocks are dropping, flooding the market with new ones and possibly tanking prices if/when investors cash out.

Stay sharp—there could be some prime buying or selling moments! 👀

4/ This week on The Milk Road Show 🎙️

Ready to dive into some killer crypto content? This week’s lineup is absolutely lit with Kyle Reidhead, Tyler D, Zeneca, and Lark Davis dropping mind-blowing insights. 🔥

In today’s episode with Kyle Reidhead, you'll learn about:

Hit play and get the lowdown! 🎧👂

YouTube | Spotify | Apple Podcasts

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Solana's TVL has soared to $5.65B, the highest in 931 days. It now dominates DEX volume with a 42% share, surpassing Ethereum in 24-hour fees. This marks a significant milestone in Solana's rapid growth.

Compound passed a $24M COMP proposal amid accusations of a governance attack by whale Humpy. Critics claim this move is a malicious takeover attempt. The proposal's approval has sparked significant community backlash.

Mempool launched a service to expedite Bitcoin transactions with five mining pools. The Mempool Accelerator allows users to pay extra fees for faster confirmations. This service offers a new solution for urgent transaction needs.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.