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Jack Mallers Profile picture
@jackmallers
Nov 17, 2022 • 1 tweets • 2 min read • Read on X
@IAMSTACKMASTER @VitalikButerin literally printed ETH out of thin air, handed the supply out to his friends, and then sold it to my step-mom in a pre-sale. I was there.

The network had not launched.

There was a roadmap and an expectation of profits.

Reads like a shareholder's letter ImageImageImageImage

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More from @jackmallers

Jack Mallers Profile picture
Feb 9
Bitcoiners have long viewed Bitcoin as the solution to currency decline. Better gold. Ultimate money.

Instead, the broader market has treated it like a software stock.

Painful, but this dip may be how Bitcoin stops trading like tech and starts trading like a hard asset.
Bitcoin has confused everyone recently.

It hasn’t tracked gold. It hasn’t tracked QQQ. It has tracked... software?

Bitcoin and the Software ETF have moved identically at times, including during this recent selloff.

This explains a lot, including the recent violent selloff. Image
Software, SaaS, cloud, high-multiple growth, and Mag 7 are all taking a beating.

Why? Two reasons.

First, AI is changing the economic profile of software itself. Software is moving from a cash machine to a capital-intensive business.

Look at big tech capex growth recently... Image
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Read 9 tweets
Jack Mallers Profile picture
Jul 23, 2025
The US needs to print but can't spark obvious inflation.

What absorbs the liquidity? Stablecoins. Backed by T-Bills, but driven by #Bitcoin.

A higher #Bitcoin (and Gold) price is becoming a matter of fiscal stability for the US.

#Bitcoin is the new monetary pressure valve.
Here’s Tether’s growth overlaid on Bitcoin’s price.

What do you notice?

The best way to grow demand for stablecoins… is to grow demand for #Bitcoin.

The GENIUS Act cements the dollar (and thus stablecoins) as the reserve trading pair for Bitcoin.

If the US wants a bigger stablecoin market cap →
that means more T-Bill buying →
which means less long-end debt issuance →

…then, the US now needs a higher #Bitcoin price.Image
Now, if you were the US Government, and wanted average Americans to participate in the upside of the inevitable USD debasement, what would you do?

Well, one way would be to open their retirement accounts, dump their stocks and bonds, and buy #Bitcoin and Gold.

Weird! That’s exactly what they’re doing, according to @FT ⬇️

ft.com/content/079062…Image
Read 5 tweets
Jack Mallers Profile picture
Jun 4, 2025
Twenty One's Proof of Reserves is live.

Anyone in the world can now audit and verify that we own the #Bitcoin we say we do.

You can’t do this with gold. #Bitcoin is the best money in human history.

At Twenty One, we are bringing #Bitcoin to the capital markets.
The 14,000 BTC contributed by @Tether_to

mempool.space/address/bc1q8q…
The 7,000 BTC contributed by @Bitfinex

mempool.space/address/bc1q4u…
Read 6 tweets
Jack Mallers Profile picture
Feb 3, 2025
We are witnessing the unwind of the WW2 economic order.

What's happening now is much bigger than tariffs. For nearly 80 years the US exported dollars while importing goods & debt. That system is failing.

What's next? A move back to a neutral reserve currency. Got #Bitcoin?
After WW2, the world was decimated.

The US was the only industrial power left standing. Europe and Japan were in ruins. The world needed to rebuild, and the US took the lead.

How? The US funded global reconstruction with efforts like the Marshall Plan and Bretton Woods. Image
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The idea was simple:

The US would buy foreign goods, run trade deficits, send dollars abroad, and let other countries produce stuff.

In return, other countries would use the dollar as the global reserve currency, accumulating US debt as their savings.

In essence: the world gets dollars, the US gets goods.Image
Read 17 tweets
Jack Mallers Profile picture
Mar 7, 2024
#Bitcoin 101: Satoshi's Innovation

Understanding why and how Satoshi Nakamoto used proof of work to crack the code that unlocked the best money in human history.

Gold is stuck in the ground, #Bitcoin is stuck in the future.

My keynote presentation at @BitcoinAtlantis:
Unfortunately, the beginning of the keynote is a little messed up. My slides weren't formatted correctly and there are tons of shots of the faces of the crowd which I do not support. I've done my best to blur the crowd in these edited clips. I believe the conference is working on a version of its own that addresses these issues.

The most important piece that got cut from the intro of my keynote was my tribute to @dergigi.

I consider Gigi a genius. This presentation is an extension of his work.

You can find his work here: dergigi.com
A request by popular demand:

For those looking to share the keynote with others who don't appreciate an enthusiastic F-bomb, here is the presentation with all of my curse words bleeped out.

Fun fact, I dropped 12 F-bombs in this keynote 🤣😭😩
Read 4 tweets
Jack Mallers Profile picture
Jan 2, 2024
I no longer own any US dollars. Not even a penny.

As an American millennial, I love our country but I oppose our money.

I'm all in on #Bitcoin. Setting my sails toward prosperity or going down with the ship.

I believe it's important to take a stance now more than ever 🫡 Image
In 1971 the US abandoned the Gold Standard and assigned itself as the world reserve currency issuer.

It's been a post-industrial economic wasteland ever since.

The money printing has created hyper-financialization, hyper-asset inflation, and a disgruntled population.
Image
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As the US devalues its currency, its citizens are forced to use assets to store their wealth such as real estate and stocks

This drives the prices of these assets up, also known as asset inflation

The result? A massive wealth gap. Printing money makes those who own assets richer, and those who can't afford them poorer.Image
Read 11 tweets

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