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Weekly Beluga Insights

We are officially at the end of Trump’s first week of the presidency, and while we don’t yet have a Strategic Bitcoin Reserve (SBR), a lot has happened including the pardon of Ross Ulbricht. Yesterday saw the announcement of Trump’s first crypto-related executive orders, which included a very important detail: the government will not create a Central Bank Digital Currency (CBDC). This is a big deal as a CBDC could provide the government with unparalleled financial control over its citizens, and goes against the core crypto ethos of decentralization.

There is also now discussion over a “Digital Assets Stockpile” through which the US would hold the Bitcoin they’ve seized over the years, however likely wouldn’t purchase more. This is definitely not the SBR everyone was hoping for, but it’s a good start – funnily enough in our Predictions for 2025, we said an SBR would be created to hold seized BTC however the government would not buy any more, which is looking pretty good so far!

Major Movers of the Week

Public Trading Wallet Update

Not much has changed in the wallet over the last week, however the attention and liquidity suck that was Trump’s memecoin definitely made its impact. With all eyes on Solana, other alt chains like Sonic (formerly Fantom) have been hit pretty hard. Our Sonic ecosystem bet, BEETS, has struggled because of this but with Sonic seemingly starting to catch up I expect some positive movement to come soon. It’s also much lower in market cap than our other holdings, so liable to move more.

Something to note is it seems like next week could be the long-awaited launch of Berachain, as the founder Smokey keeps hinting we are days out. While the airdrop will likely be massive, I expect a lot of it to stay on the chain rather than filtering out. With that said any time people get millions in tokens for free, they tend to sell it — this will make Bera’s price very volatile to start with, so be patient if you’re looking to catch an entry.

Tweet of the Week

The dog himself made an appearance at the NYSE and confirmed the hat is still on.

Recent Beluga Content

Free BONK Report from Fundstrat Research

Interested in learning how the institutions are looking at your favorite memecoins? Download a free report from Fundstrat Research on BONK and the memecoin landscape below!

Disclaimer

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions.

Will McKinnon is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR