Genuinely agreeing with Bailey here.

What changed Trump's mind on Bitcoin likely wasnt that he finally got that it would make him a ton of money (which he has off the back of unsuspecting people investing in his world liberty nonsense).

What changed Trump's mind on Bitcoin was that he understood how he could use stablecoins to leverage unprecedented control over the rest of the world.

Imagine every bank in the developing world replaced with US led fintechs that can be turned on and off with the switch of a button. Every transaction becomes traceable, freezable, executable and deniable on the behest of a country that's entire existence hinges on meddling in other country's politics.

Instead of selling debt to leaders, Dollars get issued directly to the wallets of consumers. It's the IMF on steroids.

For Trump, Bitcoin is indeed a trojan horse, just not the way you think.