Bitcoin advocates at the BTC Prague conference on July 6 argued that the cryptocurrency's role in geopolitics is expanding due to its neutral technology and permissionless nature. Panelists emphasized that self-custody remains the strongest use case, distinguishing direct ownership from institutional products like ETFs. They noted Bitcoin's increasing relevance as the global financial order shifts from unipolar to multipolar.

Bitcoin Is Neutral Technology

Natalie Brunell, an author, stated at the conference that Bitcoin is a neutral technology available to sovereign nations and individuals alike due to its permissionless nature. Panelists discussed reports of Bitcoin use by countries such as Iran and Venezuela, arguing that such activity reflects Bitcoin’s core design rather than a reputational flaw.

Tony Yazbeck, co-founder of The Bitcoin Way, highlighted that Bitcoin changes the rules of global money by removing the ability to police transactions. "Bitcoin was created for one purpose and one purpose only, the separation of money and state," Yazbeck added.

Rahim Taghizadegan, founder of the Scholarium, noted Bitcoin has survived previous reputational risks, including Silk Road, speculative crypto markets, and usage by rogue states. He added that Bitcoin is increasingly relevant as the world shifts from a unipolar financial order toward a multipolar one.

Institutional BTC Products Are Not Bitcoin

The panelists drew a sharp distinction between owning Bitcoin directly and gaining exposure through institutional products such as spot ETFs or Bitcoin treasury companies. Brunell said institutional adoption was inevitable and can serve as an on-ramp for pension funds and traditional investors but added that it is not the same as holding Bitcoin directly.

Yazbeck was more critical, arguing that institutional BTC products are "not Bitcoin" because investors do not control the asset. "All of these products and services are created to keep 8.3 billion people dependent on a system," he said. "The only product that’s out there as a ticket for freedom is Bitcoin in your control."

The speakers argued that Bitcoin’s strongest use case remains self-custody, especially for individuals facing inflation, capital controls, or political instability. Yazbeck, who said he lost access to funds during Lebanon’s banking crisis, warned that people should not wait for extreme financial pain before learning about Bitcoin. "Bitcoin is money that has been an option since 2009," he concluded.

President Donald Trump claimed Monday he saved the cryptocurrency industry from the Joe Biden administration, characterizing the previous government's actions as a "weaponization of government" against the sector. This assertion comes as a new investigation by blockchain analytics firm Nansen revealed that nearly one million investors collectively lost $3.81 billion on Trump’s official TRUMP (CRYPTO: TRUMP) meme coin. The report highlights a stark disparity where 988,905 wallets, constituting around two-thirds of all TRUMP buyers, were underwater through the end of June 2025, while fewer than 500,000 wallets generated profits totaling roughly $4 billion.

Financial Details and Market Impact

The President’s annual financial disclosure showed he earned approximately $636 million from the meme coin project in 2025. Trump and affiliated entities generated revenue through trading fees, allowing them to profit regardless of whether the token’s price rose or fell. The TRUMP memecoin was launched three days before the January 2025 inauguration and has fallen about 97% since reaching an all-time high of $75.35.

Retail Vs. Sophisticated Traders

The Nansen report underscores the widening gap between sophisticated traders and retail investors in the meme coin market. The analytics firm noted that early participants, many using automated trading strategies, captured outsized gains during the token’s initial surge, while later retail buyers absorbed most of the subsequent losses.

Political and Regulatory Reaction

Speaking from the Oval Office, Trump said the Biden administration had no understanding of crypto and used government power to destroy the industry. He claimed that Biden only turned pro-crypto in his final months because he was losing badly in the polls and needed the voter base. The White House rejected suggestions that Trump profited at the expense of investors. "President Trump proudly made the U.S. the crypto capital of the world," White House spokeswoman Anna Kelly told The New York Times. "All actions by President Trump and his administration are taken in the best interest of the American people."