Shorting MSTR and Bitcoin? The Silent War Between the White House and JPMorgan Chase

Author: Maryland HODL; Crypto KOL; Translated by: Jinse Finance

A power struggle over money is unfolding in full view of the public—but almost no one realizes the stakes involved. Here are my personal speculations.

Over the past few months, a new pattern has emerged in the political, market, and media spheres. Scattered headlines have suddenly connected, market anomalies no longer seem so accidental, and institutional behavior has become unusually aggressive. Beneath the surface, a deeper transformation appears to be lurking.

This is not a normal monetary cycle.

This is not a partisan struggle in the traditional sense.

This is not “market volatility.”

What we are witnessing now is a direct confrontation between two competing monetary systems:

The old order…centered on JPMorgan Chase, Wall Street, and the Federal Reserve.

The new order… centers on government bonds, stablecoins, and a digital architecture based on Bitcoin. This conflict is no longer theoretical; it is real and intensifying. For the first time in decades, it has become public. Here is an attempt to see the real battlefield… a battlefield most analysts cannot see because they still apply a 1970-2010 framework to a world that is breaking free from its constraints. I. JPMorgan Chase Steps Out of the Shadows Most people think of JPMorgan Chase as a bank. This is incorrect. JPMorgan Chase is the operations arm of a global financial institution… it is the entity closest to the core mechanisms of the Federal Reserve, influencing global dollar settlements and acting as a major executor of the traditional monetary system. Therefore, when Trump released information about Epstein's network of connections and specifically named JPMorgan Chase (rather than viewing individuals in isolation), it was not a rhetorical exaggeration. He dragged deeply entrenched institutions into this media storm.

At the same time:

• JPMorgan Chase is a major driver of the aggressive shorting of Strategy (“MSTR”), at a time when the macro narrative of Bitcoin is threatening the interests of traditional currencies.

  IV. Both Sides Are Fighting on a Fragile Foundation

  This struggle takes place on a monetary system built over sixty years:

  • Financialization

  • Structural Leverage

  • Artificially Depressed Interest Rates

  • Asset-First Growth Model

  • Reserve Concentration

  • And Institutional Cartelization.

  Historical connections have broken down everywhere because the entire system is no longer coordinated. Traditional financial experts who see this as a normal cycle have failed to realize that the cycle itself is crumbling.

  The regime is crumbling.

  The water pipe system is unstable.

  The incentive mechanisms of both sides have diverged.

  Both factions, the traditional order of JPMorgan Chase and the emerging order of the Treasury Department, are playing a game on the same fragile infrastructure.

  Any misjudgment could trigger a chain reaction of turmoil. This is why these actions seem so strange, so disjointed, so crazy. V. MSTR: The Conversion Bridge Under Direct Attack Now let's introduce a crucial aspect that most commentators have overlooked. MicroStrategy is more than just a company holding Bitcoin. It has become a conversion mechanism—a bridge between traditional institutional capital and the emerging Bitcoin Treasury monetary architecture. MSTR's structure, leveraged Bitcoin strategies, and preferred stock products effectively convert fiat currency, credit, and Treasury assets into long-term Bitcoin exposure. In this way, MSTR has effectively become a convenient channel for institutional and retail investors to enter the Bitcoin market who cannot (or do not want to) directly hold spot Bitcoin but need to escape the artificially suppressed yields of YCC. This means: If governments envision a future where Treasury-backed digital dollars and Bitcoin reserves can coexist, then MSTR is the key corporate channel to achieve this transition. JPMorgan Chase understands this as well. So when JPMorgan Chase: This is not just an attack on Michael Thaler. It's an attack on the bridge that enables the government's long-term accumulation strategy. There's even a plausible assumption (though currently speculative, it's increasingly logical) that the US government will eventually intervene and make a strategic investment in MSTR. As recently suggested by @joshmandell6: Acquiring ownership of MSTR in exchange for injecting US Treasury bonds would clearly support MSTR's preferred vehicle and help improve its credit rating. Doing so would carry political and economic risks. But this also sends a signal the world cannot ignore: The United States is defending a key node in its emerging currency system. This alone explains why JPMorgan Chase launched such a fierce attack. VI. A Critical Window: Control of the Federal Reserve Next, time is running out. With @caitlinlong recently suggesting that Trump needs to take control of the actual operation of the Federal Reserve before Powell leaves office, the situation is currently unfavorable for him... He is trailing by about three to four votes on the Federal Reserve Board. Several bottlenecks are converging at the same time: Lisa Cook's lawsuit to the Supreme Court could last for months and delay key changes. The February 2025 Federal Reserve Board elections could solidify a hostile governance landscape for years to come. A poor Republican performance in the upcoming midterm elections will weaken the government's ability to adjust monetary policy. This is why economic growth momentum is crucial now, not six months from now. This is why the Treasury's issuance strategy has changed. This is why stablecoin regulation has suddenly become crucial. This is why the Bitcoin crackdown is so important. This is why the debate surrounding MSTR is not a trivial matter, but a structural issue. If the Trump administration loses control of Congress, he will become a lame-duck president…unable to restructure the monetary system, instead bound by the very institutions he sought to circumvent. By 2028, the window of opportunity will be closed. Time is running out, and the pressure is immense.

  VII. A More Macro Strategic Perspective

  When you take a step back, you'll see the underlying patterns:

  • JPMorgan Chase is fighting a defensive battle to preserve the Federal Reserve Banking System, as it is a key global node in that system.

  • The current administration is quietly transitioning, restoring the Treasury's monetary dominance through stablecoins and Bitcoin reserves.

  • Bitcoin is the proxy battlefield; price suppression protects the old system, while covert accumulation strengthens the new system.

  • MSTR is the conversion bridge, an institutional entry point threatening JPMorgan Chase's control over capital flows.

  • Government of the Federal Reserve is the bottleneck, and political timing is the constraint.

  • Everything is happening on an unstable foundation; any misstep could trigger unpredictable systemic consequences.

  This is neither financial news nor political news.

  This is a civilizational monetary transformation. For the first time in sixty years, this conflict is no longer being concealed. Chapter 8: Trump's Strategy The government's strategy is becoming clear: Let JPMorgan Chase overreact to the problem. Quietly accumulate Bitcoin. Defend and strengthen the MSTR Bridge as much as possible. Act swiftly to reshape the governance structure of the Federal Reserve. Position the Treasury as the issuer of the digital dollar. Then wait for the right political moment (possibly the "Mar-a-Lago Agreement") to unveil the new architecture. This is not a mild reform, but a complete overthrow of the 1913 order… a return of monetary power to political institutions, not financial institutions. If this strategy succeeds, the United States will enter a new monetary era based on transparency, digital orbits, and a hybrid Bitcoin collateral framework. If they fail, the old regime's control will strengthen, and the window for change may not reopen until the next generation. Regardless, the war has begun. Bitcoin is no longer just an asset…it's a dividing line between two competing futures. What neither side has grasped is that ultimately, both will lose to absolute scarcity and mathematical truth. These two giants are vying for control; prepare for unforeseen circumstances and be mindful of security.