Bitcoin's next wave of buyers will decide where its price goes
Pomp Letter asks where bitcoin's next wave of demand will come from, framing the asset as a supply and demand game for nearly two decades. Bitcoin's issuance is capped at 21 million coins, so supply follows a fixed schedule and price gains depend on new buyers entering the market.
Why it matters: With supply fixed, demand is the variable that moves price, and whether new buyers keep arriving decides whether bitcoin can hold its value as money outside central bank control.
Circle Shareholder Sues Trump Over Alleged Profits From $2B UAE Crypto Deals
A Circle shareholder has sued President Trump, alleging he corruptly cashed in on crypto deals worth $2 billion with the UAE. The plaintiff argues those profits are unconstitutional. This is an allegation in a lawsuit, not a court finding, and the claims are untested.
Why it matters: When access to power decides who wins in crypto, the market stops rewarding builders and starts rewarding insiders, which is the opposite of the open competition that sound money depends on.
Ohio governor race turns personal as Ramaswamy ad features family story
Roll Call's weekly At the Races newsletter reports on a new ad produced by Vivek Ramaswamy, the Republican nominee for Ohio governor. The spot features the mother of Amy, a personal angle in a race that is otherwise framed around campaign strategy. The item is written by Daniela Altimari, Niels Lesniewski and Mary Ellen McIntire.
Why it matters: A governor controls little monetary policy, so voters should press candidates on sound money, state spending and taxes instead of letting family stories set the agenda.
Reason's Podcast Puts Ramaswamy and Holmes Under Biblical Parable Scrutiny
In a Reason podcast published October 22, 2026, Robby Soave and Christian Britschgi take aim at Vivek Ramaswamy and Elizabeth Holmes. The hosts frame both figures through their favorite biblical parables. The episode is opinion and commentary, so its lessons rest on the hosts' judgment rather than new data.
Why it matters: Holmes built Theranos on investor hype and a story that outran the facts, and when capital chases narratives instead of verifiable returns, sound money and honest price signals suffer.
Circle Shareholder Sues Trump and World Liberty Over UAE-Linked Gains
World Liberty Financial, the crypto firm co-founded by President Donald Trump and his family, is accused of profiting from funds tied to the United Arab Emirates government. Per Bloomberg, on the 22nd (local time) J. Benjamin Greenberg, a shareholder in rival Circle, filed suit against Trump and World Liberty in federal court in Washington, D.C. He claims the firm's unfair competition harmed Circle investors, alleges constitutional violations, and seeks the return of profits plus damages.
Why it matters: When a sitting president's family business grows on foreign state money and political access, capital flows to connections instead of sound products, and that is the distortion honest money is supposed to prevent.
Jobless claims fall to 194,000, near lowest since the 1960s
Initial filings for unemployment insurance slipped to a seasonally adjusted 194,000 in the latest weekly report. The reading sits near the lowest level since the 1960s, and the low-fire trend that has held through the cycle continues. Layoffs remain scarce, which keeps the labor market firm.
Why it matters: A labor market where employers rarely fire gives the Fed little reason to cut rates quickly, so the cost of money stays high and the pressure on fiat purchasing power stays in place.
First Homegrown GLP-1 Obesity Drug Efe Hits Prescriptions October 29
Efe, billed as Korea's first domestic GLP-1 obesity drug, becomes available by prescription starting October 29. The first month's supply is priced at 130,000 won.
Why it matters: When a new drug's price is set by regulators and insurers instead of buyers, the market stops telling us what the treatment is actually worth, and a sound-money reader should watch whether Efe's price is decided by patients or by the state.
This digest curates and summarizes news from multiple sources. All source links are provided for full context. Summaries reflect the author's interpretation and do not constitute financial advice. View all sources