The Treasury just committed the United States to building the best Bitcoin onboarding infrastructure anybody has ever funded. I don't think they know that yet.

Look at what these rails actually are. Wallets. Keys. Settlement on a public ledger. A generation getting comfortable with money that lives in an app instead of a branch, and a real share of them learning what a seed phrase is, because that is how you hold the thing yourself.

None of that is dollar infrastructure. It is self-custody infrastructure that happens to be carrying dollars first.

And it teaches the lesson incompletely, which is the interesting part. A stablecoin has an issuer. Eventually somebody gets frozen, or a court order lands, or the reserves have a bad quarter, and the question arrives on its own. Who is on the other side of this, and can they tell me no?

One answer survives that question.

So, sincerely, thank you Secretary Bessent. Teach the world to hold its own keys and we will take it from there.