Trump Just Made Bitcoin's Bull Case

<p>Trump told Time that certain levels of inflation will pay off the debt very rapidly. Jackson, Michael and Brian explain why that makes Bitcoin&#39;s bull case, then take on a lopsided S&amp;P 500, the AI funding frenzy, FinCEN&#39;s retreat and BitGo&#39;s custody bet.</p><p><br></p><p>JOIN US IN MINNEAPOLIS</p><p>Onramp After Hours: a happy hour with Cam Stromme at Pryes Brewing in Minneapolis on October 28. Save your spot:</p><p>📍 https://luma.com/7o9q1hta</p><p><br></p><p>BOOK A CONSULTATION</p><p>Holding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and no single one can lose it, move it, or use it. Inheritance built in. Insured through Lloyd&#39;s of London. Speak with our team to see if it fits.</p><p>👉 https://go.onrampbitcoin.com/consult-tlt-pod</p><p><br></p><p>GET ON THE LIST</p><p>Our research, event invites, and the week&#39;s Bitcoin news in one free email.</p><p>📩 https://go.onrampbitcoin.com/research-tlt-pod</p><p><br></p><p>ABOUT THIS EPISODE</p><p>In an interview with Time, President Trump said certain levels of inflation will pay off the national debt very rapidly, a sharp break from the tough talk on inflation from the Fed and the Treasury. Brian argues there is no political room for spending cuts or higher taxes, which leaves debasement as the only way out and makes the case for hard assets like Bitcoin. Michael explains why most people still miss that the money is broken. The hosts then look at an S&amp;P 500 where 52% of stocks sit at least 20% below their highs, AI capex draining hyperscaler free cash flow, the White House AI Accord, and OpenAI&#39;s reported $30 billion raise with UAE funds. They debate whether institutional smart money is really smart, answer an Ask Onramp question on multi-institution custody, unpack FinCEN withdrawing its unhosted wallet and mixer proposals, and close on BitGo&#39;s push into prime brokerage and why custody is not a race to zero.</p><p><br></p><p>CHAPTERS</p><p>00:00 - Bee stings, rattlesnakes and the Minneapolis meetup</p><p>05:19 - Trump says inflation will pay off the debt</p><p>06:22 - Why debasement is the only way out</p><p>12:35 - Digital price tags and inflation amnesia</p><p>14:09 - Half the S&amp;P 500 is in a bear market</p><p>17:40 - AI capex, Anthropic&#39;s S-1 and the burn rate</p><p>19:57 - The White House AI Accord</p><p>24:56 - OpenAI, DeepSeek and the AI funding frenzy</p><p>3