The child of the current President announced on Twitter two days ago that it is time to incorporate Ethereum into their balance sheets. It is astonishing to witness this, considering what this cycle signifies for Ethereum.
For years, individuals have been forecasting the developments we are currently observing in this cycle. Ethereum’s primary application has been as a foundation for issuing alternative assets and developing applications concentrated on assets other than ether itself. This shift to become the primary use of the network carries significant implications for the necessity of the Ethereum network in executing these other applications and assets.
Bitcoin enthusiasts have recurrently highlighted this and anticipated that other more affordable and centralized networks with similar functionalities would ultimately render Ethereum obsolete, as the main value proposition of the network in the market has been shown not to be Ethereum or ether itself. This is exactly what we are witnessing now with Solana capturing activity from Ethereum, covering everything from memecoins to DEXes.
This is not a novel hypothesis; it is not some obscure niche concept hidden from view; it has been vocally predicted for over five years. Yet the “orange-pilled” child of the President is now publicly declaring that it’s time to embrace ETH.
I believe this should unequivocally illustrate that neither the Trump family nor the new administration are “orange-pilled” in any way. What they have been presented with is merely the chance to generate profits, and they will act according to their incentives. That realistically leads to shitcoining.
Shitcoining is the most lucrative short-term endeavor in this domain. They will pursue the route to easy profits. I think this is the stark reality that some Bitcoiners refuse to acknowledge – people, in most instances, do not rise above their incentives. We are not going to experience some monumental spiritual “Bitcoin awakening” within the government. Instead, we will observe the incentives we have seen unfold across multiple cycles play out on a larger scale than ever before.
What astonishes me is how many Bitcoiners believed that engaging with the government would yield any different result. We opened the door, and the chaos followed us in.
This article is a Take. The views expressed are solely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
