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To investors,

The public narrative is Republicans are embracing bitcoin and cryptocurrencies, while Democrats are actively attacking it. Every good story has a hint of truth to it.

However, be careful believing everything you hear or read.

There is definitely support from many Republicans, including former President Donald Trump, but we are starting to see more Democrats come out in support of the assets and industry.

Take Representative Ro Khanna as an example. He recently came out publicly as a proponent of the United States building a strategic reserve of bitcoin. Khanna stated “Bitcoin that has been seized by the US government should be used as a strategic reserve asset given its potential for appreciation.”

This is noteworthy because we need Democrats like Khanna to ensure bitcoin will be a bipartisan topic moving forward. Technology should not fall victim to tribalism from politics.

If the Republicans are going to embrace the industry, we should encourage Democrats to do the same. Why? Because bitcoin is going to continue gaining importance as a potential solution for the incredible national debt crisis.

Bravos Research recently said “government debt is bigger than the ENTIRE US economy In 2012, debt surpassed GDP for the first time. Ever. There has been no looking back ever since.”

Economist EJ Antoni shows the problem is only getting worse too. He says the “federal debt explodes on first day of the new fiscal year, jumping $204 billion to new record of $35.669 trillion, but it gets worse: Treasury also had to draw down its cash balance by $72 billion – that’s over $275 billion in the red FOR JUST ONE DAY.”

Insane when you think about how large these numbers are.

Bitcoiners seem to be preparing for bitcoin to become a lot more valuable too. Crypto commentator Marty Party pointed out yesterday that crypto exchanges are seeing the largest withdrawals of bitcoin since the big crash in November 2022.

So to recap — national debt is growing to the moon, the Fed is cutting interest rates, bitcoiners are withdrawing their coins into self-custody, and Republicans and Democrats are finding common ground with a decentralized, finite supply asset.

Seems bullish to me. Let’s see what the rest of the year has in store for us.

Hope you all have a great weekend. I’ll talk to everyone on Monday.

-Anthony Pompliano

Founder & CEO, Professional Capital Management

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Polina Pompliano, Author of ‘Hidden Genius‘ and Founder of The Profile, and Anthony Pompliano, Author of ‘How To Live An Extraordinary Life‘ and CEO of Professional Capital Management, discuss why Jerome Powell can’t stop cutting interest rates, all-time high number of US citizens dependent on government aid, using bitcoin to pay your taxes, and what will happen when cheap capital floods the market. 

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