In the past few months, have you also felt a strange 'pattern' emerging?
Seemingly unrelated headlines suddenly begin to resonate with each other; some bizarre market trends no longer seem like random events; institutions are behaving more aggressively, and the media's tone is becoming increasingly extreme; political narratives are shifting from cultural division to 'order reconstruction.'
Many analysts are still using macro models from 1970–2010 to explain the current world, but reality is tearing apart the old framework.
We are in a rare moment: not a monetary cycle, not a partisan struggle, not a crypto bull or bear... but a real 'currency regime change.'
The two sides in this war are not Republicans against Democrats, nor retail investors against Wall Street.
The real confrontation is:
Old order: a dollar framework centered on the Federal Reserve + commercial banks (with JPMorgan Chase at the core)
New order: a digital dollar system centered on Treasury + stablecoins + Bitcoin reserves
In the past 50 years, the old order has dominated the globe; in the past 24 months, the new order has germinated; in the past 90 days, this war has become public for the first time.
This article will delve into this historical monetary competition and explain:
Why has JPMorgan Chase suddenly appeared frequently in the political storm center?
Why has MicroStrategy become the focus of attacks?
Why is the U.S. government 'silent but frequently active' regarding Bitcoin?
Why has the regulation of stablecoins suddenly become a high-risk political issue?
Why are there seemingly inexplicable extreme fluctuations in the market?
Why do many phenomena 'not make sense with old models'?
This article will not tell you 'to buy or not to buy Bitcoin,' but will tell you: Bitcoin has become a battleground in national-level currency competition.
One, JPMorgan Chase: the 'sword bearer' of the old monetary system
Many people think of JPMorgan Chase as a large bank. This is a huge misconception. JPMorgan Chase is the core execution agency of the global dollar settlement system. That's because:
It is the most important commercial bank pivot of the Federal Reserve system
It manages a large flow of the dollar clearing system CHIPS
It is one of the custodial banks of the world's largest financial institutions
It controls most of the structured 'soft power' in commodity derivatives, gold pricing, and foreign exchange markets
In other words: if the Federal Reserve is the brain, JPMorgan Chase is the hand and nervous system.
Therefore, when Trump named JPMorgan Chase in a post about the Epstein network, he wasn't speaking casually; he was dragging the 'core institution of the old system' into the narrative battleground. Meanwhile, you will notice several coincidences:
1. MicroStrategy stocks face inexplicable strong short-selling pressure
And the structure of major short-selling institutions is highly correlated with JPMorgan Chase.
2. Multiple brokerages report 'abnormal delays in transferring MicroStrategy stocks'
This is a rare custody signal that normally occurs only in extremely tense market conditions.
3. Senior executives of JPMorgan Chase are unusually aggressive in opposing the 'Treasury-led stablecoin model' at the stablecoin hearing
All these 'coincidences' are not coincidences. JPMorgan Chase is defending the core interests of the old system: the power of the Federal Reserve + commercial banks to control the issuance and settlement of dollars.
And the rise of the new system is cutting off their source of power.
Two, the government's real strategy: to take back the dollar issuance power from the Treasury
Many people do not realize: a critical crack has appeared in the global monetary system.
2023–2025 with: the Russia-Ukraine war, soaring U.S. Treasury rates, the breakdown of the foreign reserve system, excessive use of SWIFT sanctions, some countries turning to local currency settlements, the strategic questioning of the independence of the Federal Reserve
The Treasury is beginning to genuinely worry: 'Can the dollar still rely on the old system to maintain global hegemony?'
Thus, the Treasury is beginning to promote a historic plan: Treasury + stablecoins + programmable dollars + Bitcoin reserves
This is not a fantasy of the crypto circle, but a real trend happening within the U.S. government:
Multiple stablecoin companies are beginning to accept the Treasury's regulatory framework
The Treasury is establishing 'strategic cooperation' with Circle and payment giants
Congress is discussing making stablecoins a 'compliant dollar issuance channel'
The U.S. has repeatedly mentioned using digital assets as 'strategic reserves'
The Treasury's goal is not 'cryptofication,' but to rebuild a digital dollar system that can bypass the Federal Reserve.
In this system:
The dominance of the Federal Reserve has weakened, the dollar minting rights of commercial banks have been weakened; the settlement center status of JPMorgan Chase has been weakened; stablecoin companies have become settlement infrastructure; Bitcoin has become collateral and reserve assets
What does this mean for JPMorgan Chase? It means a direct loss of power, profit, and systemic control.
So they began to fight back. Not through debate, but by: shorting MicroStrategy, suppressing Bitcoin derivatives, amplifying market panic fluctuations, creating friction at the custody level, and applying pressure at the political level.
Because this is not a 'market issue' — this is their biggest survival threat in decades.
Three, Bitcoin: not the target, but the battleground
The Treasury does not want 'Bitcoin to rise.' What the Treasury wants is: to accumulate quietly, control exposure, and publicly announce after the new system stabilizes
But if Bitcoin surges now: the model will be destroyed; the accumulation will be interrupted; the strategic value of MicroStrategy will increase too quickly; the Treasury will pay too high a cost.
And JPMorgan Chase does not want Bitcoin to surge — for completely opposite reasons: a rise in Bitcoin → the traditional system loses its anchor
MicroStrategy becomes stronger → the bridge of transformation expands; the model of stablecoins + Bitcoin reserves is closer to feasibility
So both sides are suppressing Bitcoin, but their motivations are different. The Federal Reserve system suppresses Bitcoin with a 'golden strategy': paper derivatives, synthetic shorts, high-frequency targeting, panic driven by news, liquidity attacks
JPMorgan Chase has used the same techniques in the gold market for decades, now applied to the Bitcoin market.
And the way chosen by the Treasury is: silence.
Silence itself is a strategy. Not because they do not understand Bitcoin, but because they understand it too well.
Four, both sides are standing on a 'fragile system'
This monetary war is taking place on an 'old, damaged' infrastructure:
Global dollar liabilities reach 130 trillion dollars
U.S. Treasury rates and financial assets are highly interconnected
Commercial banks rely on systemic liquidity injections
The Federal Reserve needs to maintain asset price stability to avoid collapse
The SWIFT system is shifting from global to group-oriented
Major powers' settlement structures are decoupling
More critically: the Federal Reserve system and the Treasury system are not complementary, but competitive.
Both sides are competing for: who is the true 'center of dollar issuance.'
The two sides clash fiercely on a fragile foundation, which is why recent market behaviors seem to be:
Unreasonable, abnormal; yet eerily consistent, because behind all this is the reconstruction of monetary power.
Five, MicroStrategy: the 'bridge' of the monetary system transformation
This is the key that almost no one on the Chinese internet has explained clearly: why has MicroStrategy become a target?
Because MicroStrategy has become the largest 'institutional entry point' from the traditional system to the Bitcoin system.
Whether you are: an institution that cannot buy spot Bitcoin? A bank that cannot custody BTC? A family office wanting to gain BTC exposure, or a large capital wanting to hedge risks of the old system?
You can achieve through MicroStrategy: use dollars to buy Bitcoin exposure, buy Bitcoin leverage with debt; hold long-term BTC through stock structures, bypassing spot regulation through corporate governance
MicroStrategy has become the most important grassroots node in the transformation of the U.S. monetary system.
Once MicroStrategy's scale is large enough, it will naturally evolve into:
Decentralized reserve bridge, the collateral channel for the Treasury's future digital dollar, a 'second national debt' for large institutions' hedge assets; the invisible warehouse of the U.S. BTC reserve system
If the U.S. government wants the future digital dollar system to have Bitcoin collateral attributes, MicroStrategy is the easiest node to be included. JPMorgan Chase sees all this very clearly. Therefore: short selling, creating custody delays, lowering liquidity, compressing its valuation through ETFs
These are not 'market behaviors.' This is blocking the future transition of the monetary system.
Six, the battle for Federal Reserve governance: Trump's time window is closing
This is the most critical and least discussed part. Everything Trump can do regarding the monetary system relies on one thing: controlling the Federal Reserve Board.
If he cannot rearrange the governance of the Federal Reserve, he cannot: push forward the Treasury-led monetary framework; advance the stablecoin bill, thus allowing Bitcoin to enter the national reserve, changing the dollar issuance mechanism, and implementing checks and balances on the JPMorgan Chase banking system.
The problem is: Trump is currently three votes behind on the Federal Reserve Board.
And now several events are colliding together:
Federal Reserve Governor LISA COOK's Supreme Court lawsuit may delay her replacement
The key vote in February 2025 will determine the power landscape for the next five years
The midterm elections may turn Congress blue again
The Treasury's strategy must be implemented before this
Economic recession may be utilized by the opposing camp at any time
If Trump cannot gain actual control over the Federal Reserve by 2025, he will be sidelined by the old system. The window is closing rapidly. This is also why: stablecoin regulation has suddenly become a focus? Bitcoin has become a political weapon? MicroStrategy has become a geopolitical financial node? JPMorgan Chase has become a narrative opponent? The market is experiencing irrational fluctuations?
Because both sides are racing against time.
Seven, putting all clues together, you will see an astonishing truth
When you put all events together, you will see an undeniable pattern:
1. JPMorgan Chase is waging a defensive battle
To protect: the Federal Reserve system, commercial bank power, and their control over global dollar settlements
2. The Treasury is constructing a new monetary framework
Based on: digital stablecoins, programmable dollars, Bitcoin reserves, new chain-based settlement networks
3. Bitcoin has become the proxy battleground for both sides
Price is not the key; control is the key.
4. MicroStrategy is the transformation bridge, viewed as a 'system threat' by the old system; seen as a 'key node' by the new system
5. Federal Reserve governance is a bottleneck, time is extremely urgent
6. The world is undergoing the first reconstruction of monetary power in sixty years
This is not a technical story, not a macro story, not a crypto story.
This is a civilization-scale monetary system reset.
Eight, Trump's 'ultimate bet'
The full picture of the Treasury's current strategy has become clear:
Let JPMorgan Chase overextend in suppressing Bitcoin, exposing the vulnerabilities of its toolchain
The government quietly accumulates Bitcoin to avoid gamma squeeze
Protect the MicroStrategy bridge, even strategically intervene if necessary
Rapidly adjust the governance structure of the Federal Reserve
Legalize stablecoins as a channel for issuing digital dollars
Wait for the right geopolitical window (e.g., 'Mar-a-Lago Agreement') to announce the new system
This is the ultimate challenge to the Federal Reserve system established in 1913.
If successful: then the U.S. will have the most powerful global digital dollar system; stablecoins will become the global settlement layer; Bitcoin will become long-term reserve collateral; the Treasury will regain monetary power; the Federal Reserve will retreat to a monetary technology agency
If it fails: the old system will be re-solidified, and the U.S. will continue to rely on a fragile financialization model; the new monetary system may be constructed by non-U.S. dominant countries
The outcome depends on the next 12-24 months.
Finally: the real fault line is not between the two systems,
And between mathematics and power
Ethereum founder Vitalik once said: 'Technology will defeat politics, but not immediately.'
Bitcoin represents mathematics and code; the state represents power and systems; large banks represent capital and interests.
Now these three forces are directly colliding.
The dollar can be reconstructed, but Bitcoin will not compromise. The system will restart, and the rules will not yield.
The real future does not belong to finance, nor to politics, but to those who can see the truth amidst the chaos.
Two monetary systems are competing for the future, and Bitcoin has become the battleground beneath them.
But ironically — no matter which side wins, neither can defeat the value of BTC's monetary system!
In-depth observation · Independent thinking · Value goes beyond price.
Star mark #Wall Street Crypto Intelligence Bureau, good content not to be missed ⭐
Finally: many of the views in this article represent my personal understanding and judgment of the market and do not constitute advice on your investments. In the past few months, have you also felt a strange 'pattern' emerging?
Seemingly unrelated headlines suddenly begin to resonate with each other; some bizarre market behaviors no longer seem like coincidences; institutions are behaving more aggressively, and media tones are becoming more extreme; political narratives shift from cultural tearing to 'order restructuring.'
Many analysts are still using macro models from 1970-2010 to explain today's world, but reality is tearing apart the old framework.
We are in a rare moment: not a monetary cycle, not a partisan struggle, not a crypto bull or bear... but a true 'monetary regime change.'
The two sides in this war are not Republicans against Democrats, nor retail investors against Wall Street.
The real confrontation is:
Old order: a dollar framework centered on the Federal Reserve + commercial banks (with JPMorgan Chase at the core)
New order: a digital dollar system centered on Treasury + stablecoins + Bitcoin reserves
In the past 50 years, the old order has dominated the globe; in the past 24 months, the new order has germinated; in the past 90 days, this war has become public for the first time.
This article will delve into this historical monetary competition and explain:
Why has JPMorgan Chase suddenly appeared frequently in the political storm center?
Why has MicroStrategy (MicroStrategy) become the focus of attacks?
Why is the U.S. government 'silent but frequently active' regarding Bitcoin?
Why has the regulation of stablecoins suddenly become a high-risk political issue?
Why are there seemingly inexplicable extreme fluctuations in the market?
Why do many phenomena 'not make sense with old models'?
This article will not tell you 'to buy or not to buy Bitcoin,' but will tell you: Bitcoin has become a battleground in national-level currency competition.
One, JPMorgan Chase: the 'sword bearer' of the old monetary system
Many people think of JPMorgan Chase as a large bank. This is a huge misconception. JPMorgan Chase is the core execution agency of the global dollar settlement system. That's because:
It is the most important commercial bank pivot of the Federal Reserve system
It manages a large flow of the dollar clearing system CHIPS
It is one of the custodial banks of the world's largest financial institutions
It controls most of the structured 'soft power' in commodity derivatives, gold pricing, and foreign exchange markets
In other words: if the Federal Reserve is the brain, JPMorgan Chase is the hand and nervous system.
Therefore, when Trump named JPMorgan Chase in a post about the Epstein network, he wasn't speaking casually; he was dragging the 'core institution of the old system' into the narrative battleground. Meanwhile, you will notice several coincidences:
1. MicroStrategy stocks face inexplicable strong short-selling pressure
And the structure of major short-selling institutions is highly correlated with JPMorgan Chase.
2. Multiple brokerages report 'abnormal delays in transferring MicroStrategy stocks'
This is a rare custody signal that normally occurs only in extremely tense market conditions.
3. Senior executives of JPMorgan Chase are unusually aggressive in opposing the 'Treasury-led stablecoin model' at the stablecoin hearing
All these 'coincidences' are not coincidences. JPMorgan Chase is defending the core interests of the old system: the power of the Federal Reserve + commercial banks to control the issuance and settlement of dollars.
And the rise of the new system is cutting off their source of power.
Two, the government's real strategy: to take back the dollar issuance power from the Treasury
Many people do not realize: a critical crack has appeared in the global monetary system.
2023–2025 with: the Russia-Ukraine war, soaring U.S. Treasury rates, the breakdown of the foreign reserve system, excessive use of SWIFT sanctions, some countries turning to local currency settlements, the strategic questioning of the independence of the Federal Reserve
The Treasury is beginning to genuinely worry: 'Can the dollar still rely on the old system to maintain global hegemony?'
Thus, the Treasury is beginning to promote a historic plan: Treasury + stablecoins + programmable dollars + Bitcoin reserves
This is not a fantasy of the crypto circle, but a real trend happening within the U.S. government:
Multiple stablecoin companies are beginning to accept the Treasury's regulatory framework
The Treasury is establishing 'strategic cooperation' with Circle and payment giants
Congress is discussing making stablecoins a 'compliant dollar issuance channel'
The U.S. has repeatedly mentioned using digital assets as 'strategic reserves'
The Treasury's goal is not 'cryptofication,' but to rebuild a digital dollar system that can bypass the Federal Reserve.
In this system:
The dominance of the Federal Reserve has weakened, the dollar minting rights of commercial banks have been weakened; the settlement center status of JPMorgan Chase has been weakened; stablecoin companies have become settlement infrastructure; Bitcoin has become collateral and reserve assets
What does this mean for JPMorgan Chase? It means a direct loss of power, profit, and systemic control.
So they began to fight back. Not through debate, but by: shorting MicroStrategy, suppressing Bitcoin derivatives, amplifying market panic fluctuations, creating friction at the custody level, and applying pressure at the political level.
Because this is not a 'market issue' — this is their biggest survival threat in decades.
Three, Bitcoin: not the target, but the battleground
The Treasury does not want 'Bitcoin to rise.' What the Treasury wants is: to accumulate quietly, control exposure, and publicly announce after the new system stabilizes
But if Bitcoin surges now: the model will be destroyed; the accumulation will be interrupted; the strategic value of MicroStrategy will increase too quickly; the Treasury will pay too high a cost.
And JPMorgan Chase does not want Bitcoin to surge — for completely opposite reasons: a rise in Bitcoin → the traditional system loses its anchor
MicroStrategy becomes stronger → the bridge of transformation expands; the model of stablecoins + Bitcoin reserves is closer to feasibility
So both sides are suppressing Bitcoin, but their motivations are different. The Federal Reserve system suppresses Bitcoin with a 'golden strategy': paper derivatives, synthetic shorts, high-frequency targeting, panic driven by news, liquidity attacks
JPMorgan Chase has used the same techniques in the gold market for decades, now applied to the Bitcoin market.
And the way chosen by the Treasury is: silence.
Silence itself is a strategy. Not because they do not understand Bitcoin, but because they understand it too well.
Four, both sides are standing on a 'fragile system'
This monetary war is taking place on an 'old, damaged' infrastructure:
Global dollar liabilities reach 130 trillion dollars
U.S. Treasury rates and financial assets are highly interconnected
Commercial banks rely on systemic liquidity injections
The Federal Reserve needs to maintain asset price stability to avoid collapse
The SWIFT system is shifting from global to group-oriented
Major powers' settlement structures are decoupling
More critically: the Federal Reserve system and the Treasury system are not complementary, but competitive.
Both sides are competing for: who is the true 'center of dollar issuance.'
The two sides clash fiercely on a fragile foundation, which is why recent market behaviors seem to be:
Unreasonable, abnormal; yet eerily consistent, because behind all this is the reconstruction of monetary power.
Five, MicroStrategy: the 'bridge' of the monetary system transformation
This is the key that almost no one on the Chinese internet has explained clearly: why has MicroStrategy become a target?
Because MicroStrategy has become the largest 'institutional entry point' from the traditional system to the Bitcoin system.
Whether you are: an institution that cannot buy spot Bitcoin? A bank that cannot custody BTC? A family office wanting to gain BTC exposure, or a large capital wanting to hedge risks of the old system?
You can achieve through MicroStrategy: use dollars to buy Bitcoin exposure, buy Bitcoin leverage with debt; hold long-term BTC through stock structures, bypassing spot regulation through corporate governance
MicroStrategy has become the most important grassroots node in the transformation of the U.S. monetary system.
Once MicroStrategy's scale is large enough, it will naturally evolve into:
Decentralized reserve bridge, the collateral channel for the Treasury's future digital dollar, a 'second national debt' for large institutions' hedge assets; the invisible warehouse of the U.S. BTC reserve system
If the U.S. government wants the future digital dollar system to have Bitcoin collateral attributes, MicroStrategy is the easiest node to be included. JPMorgan Chase sees all this very clearly. Therefore: short selling, creating custody delays, lowering liquidity, compressing its valuation through ETFs
These are not 'market behaviors.' This is blocking the future transition of the monetary system.
Six, the battle for Federal Reserve governance: Trump's time window is closing
This is the most critical and least discussed part. Everything Trump can do regarding the monetary system relies on one thing: controlling the Federal Reserve Board.
If he cannot rearrange the governance of the Federal Reserve, he cannot: push forward the Treasury-led monetary framework; advance the stablecoin bill, thus allowing Bitcoin to enter the national reserve, changing the dollar issuance mechanism, and implementing checks and balances on the JPMorgan Chase banking system.
The problem is: Trump is currently three votes behind on the Federal Reserve Board.
And now several events are colliding together:
Federal Reserve Governor LISA COOK's Supreme Court lawsuit may delay her replacement
The key vote in February 2025 will determine the power landscape for the next five years
The midterm elections may turn Congress blue again
The Treasury's strategy must be implemented before this
Economic recession may be utilized by the opposing camp at any time
If Trump cannot gain actual control over the Federal Reserve by 2025, he will be sidelined by the old system. The window is closing rapidly. This is also why: stablecoin regulation has suddenly become a focus? Bitcoin has become a political weapon? MicroStrategy has become a geopolitical financial node? JPMorgan Chase has become a narrative opponent? The market is experiencing irrational fluctuations?
Because both sides are racing against time.
Seven, putting all clues together, you will see an astonishing truth
When you put all events together, you will see an undeniable pattern:
1. JPMorgan Chase is waging a defensive battle
To protect: the Federal Reserve system, commercial bank power, and their control over global dollar settlements
2. The Treasury is constructing a new monetary framework
Based on: digital stablecoins, programmable dollars, Bitcoin reserves, new chain-based settlement networks
3. Bitcoin has become the proxy battleground for both sides
Price is not the key; control is the key.
4. MicroStrategy is the transformation bridge, viewed as a 'system threat' by the old system; seen as a 'key node' by the new system
5. Federal Reserve governance is a bottleneck, time is extremely urgent
6. The world is undergoing the first reconstruction of monetary power in sixty years
This is not a technical story, not a macro story, not a crypto story.
This is a civilization-scale monetary system reset.
Eight, Trump's 'ultimate bet'
The full picture of the Treasury's current strategy has become clear:
Let JPMorgan Chase overextend in suppressing Bitcoin, exposing the vulnerabilities of its toolchain
The government quietly accumulates Bitcoin to avoid gamma squeeze
Protect the MicroStrategy bridge, even strategically intervene if necessary
Rapidly adjust the governance structure of the Federal Reserve
Legalize stablecoins as a channel for issuing digital dollars
Wait for the right geopolitical window (e.g., 'Mar-a-Lago Agreement') to announce the new system
This is the ultimate challenge to the Federal Reserve system established in 1913.
If successful: then the U.S. will have the most powerful global digital dollar system; stablecoins will become the global settlement layer; Bitcoin will become long-term reserve collateral; the Treasury will regain monetary power; the Federal Reserve will retreat to a monetary technology agency
If it fails: the old system will be re-solidified, and the U.S. will continue to rely on a fragile financialization model; the new monetary system may be constructed by non-U.S. dominant countries
The outcome depends on the next 12-24 months.
Finally: the real fault line is not between the two systems,
And between mathematics and power
Ethereum founder Vitalik once said: 'Technology will defeat politics, but not immediately.'
Bitcoin represents mathematics and code; the state represents power and systems; large banks represent capital and interests.
Now these three forces are directly colliding.
The dollar can be reconstructed, but Bitcoin will not compromise. The system will restart, and the rules will not yield.
The real future does not belong to finance, nor to politics, but to those who can see the truth amidst the chaos.
Two monetary systems are competing for the future, and Bitcoin has become the battleground beneath them.
But ironically — no matter which side wins, neither can defeat the value of BTC's monetary system!
In-depth observation · Independent thinking · Value goes beyond price.
Star mark #Wall Street Crypto Intelligence Bureau, good content not to be missed ⭐
Finally: many of the views in this article represent my personal understanding and judgment of the market and do not constitute advice on your investments.
