How the State Captures Bitcoin w/ American HODL
American HODL is an OG Bitcoiner. In this episode, we explore how the state may co-opt Bitcoin not by banning it, but by absorbing it into public markets, enabling control through financial instruments like ETFs and convertible bonds. We also get into the rise of Bitcoin treasury companies, why Michael Saylor’s strategy is just the beginning, and the threat of an Executive Order 6102 style attack. We also discuss the moral tradeoffs of financialising Bitcoin and whether self-custody will be puni...
Jun 05, 2025•1 hr 12 min