US President Donald Trump made big promises to cryptocurrencies before the elections. He said Bitcoin will be one of the reserve currencies of this country. He made many promises, but what he did later with both Trump Coin and Melania Coin made many people skeptical. I am one of those who got ripped off by Trump Coin. However, Trump continues on his way. As you know, there is now a crypto czar in the White House and he is trying to speed up the regulations regarding cryptocurrencies.

In addition, many senators are passing laws regarding cryptocurrencies. Although Trump's actions regarding tariffs have scared investors and made many people suspicious, Trump is actually continuing on his path at full speed and the biggest proof of this is the increasing interest in crypto in large institutions. Yes, some large institutions are buying crypto, but that is not my topic today. New companies related to crypto are being established. Company acquisitions are taking place. There is incredible movement and at the center of all this is Howard Lutnick, one of the most important players in the American administration right now, we will get into this topic a little later. Now, what is changing in the relationship between institutions and crypto? What do the recent mergers and acquisitions in America mean to us and what is the role of Howard Lutnick, one of the most powerful people in America, in all these transactions? Let's understand all of them together.

After Donald Trump was elected president of America, he actually immediately put many innovations into action in crypto. First of all, crypto has become a reserve currency in America. He was also given the authority to buy crypto on the condition that he did not spend from the budget. Who was it given to? Bessent to the Treasury Secretary and Howard Lutnick, whom I mentioned earlier, to the Trade Secretary. We will come back to his son and he are very involved in this business right now. Apart from that, David Sacks is serving as the crypto and artificial intelligence czar in the White House, speeding up the processes. Many laws and regulations are currently in the parliament and all of these have excited the corporate world and institutions have started to take action to see if we can get a share of this crypto and what we can do. This has caused an incredible acceleration in the acquisitions, mergers and public offerings related to the crypto world in the United States.

One of the biggest bombshells is Twenty One Capital. Twenty One Capital is basically established to be a competitor to Microstrategy. If you ask who founded it, Brandon Lutnick is the son of the American Secretary of Commerce Howard Lutnick that I mentioned earlier. They are currently planning a $3.6 billion public offering. There are very powerful investors behind it, including Tether and Japan's Softbank group. As you know, Softbank is also one of the big investors in microchip designer ARM. At the same time, Softbank is collaborating with Open AI in the establishment of a giant data center in America. Therefore, it is a critical company and the aim here is to accumulate Bitcoin, just like in Microstrategy. We will come back to this topic in a moment, but if we look at the big picture, $8.2 billion worth of cryptocurrency company mergers, acquisitions and public offerings have been made in America since the beginning of 2025. The number of deals in 2024 was 188 in similar areas, but the total size there was only 1/3 of today's $8.2 billion. So this time, institutions are really serious. They are trying to get the Trump wind behind them.

To give a few examples, in March 2024, Kraken bought futures broker Ninja Trader for $1.5 billion. In April 2024, Ripple bought Hidden Road, also a broker, for $1.25 billion. In May 2024, Twenty One Capital is going public with a $3.6 billion SPAC merger. SPAC mergers are actually a method that companies make up to go public quickly. They run the process through a shell company, it's faster.

So why has the crypto sector become so vibrant? We are actually coming out of a crisis. With the collapse of FTX, all interest in crypto from large institutions had disappeared. Then a long period of stagnation began. Because remember, during the Biden era, especially with the influence of Gensler, who was the head of the Capital Markets Board, the US practically fought crypto. With the election of Trump, a revival began. Now, I think we are entering a period of great opportunities. It is quite possible that this interest of large institutions in crypto will also reflect positively on the crypto price. Of course, I could be wrong, I am not talking about a short-term forecast. When we look at the long term, we can say that large institutions in America are fully embracing crypto.

Now let's talk about Twenty One Capital again. The partners of this company founded by Howard Lutnick's son include Tether, Bitfinex, and Softbank. These are very important partners. Bitfinex is already a sister company of Tether. Tether is the world's largest stable coin player. I mentioned that America supports stable coins a lot. Because stable coins have American treasury bonds as collateral. Thus, America actually sells treasury bonds to crypto. Softbank has also been a very popular company in America recently. Its founder met with Donald Trump. It laid the foundation of a large data center worth $500 billion. There are strong investors who have no trouble accessing money in these three companies, and there are other investors who have provided an additional fund of $585 million. In other words, a very strong player is entering the market.

Its goal is actually very similar to Microstrategy. After establishing the company, it will buy Bitcoin. Then it will borrow again and buy more Bitcoin. If Bitcoin's value continues to increase, the value of the company will also increase. So far so good, so why is Lutnick's son involved in this? Is Lutnick an important man? Howard Lutnick is a very important man. First of all, he is the man who caused this tariff war to happen to us. He has very extreme speeches on the subject. In fact, it is said in America right now that whenever Lutnick speaks, the markets fall. But more importantly, Lutnick has very serious powers regarding crypto right now. He has the right to add to the official crypto reserve of the USA and is also the manager of the newly created large Saving Fund of America. He can buy any asset he wants there. Because of this, he has gained a great power again.

By the way, he is the CEO of a large investment institution called Cantor Fitzgerald and guess where this company is an investor. He is an investor in Tether and an investor in Microstrategy, and they are also creating a new sub-unit. In this sub-unit, he will soon accept your Bitcoin as collateral and give you a loan. In other words, they will actually bring monetary abundance to Bitcoin. This man's son is founding Twenty One, and he has great support behind him. They will probably do their best to pump crypto, that is, to raise it, and think about it, America's Treasury Secretary can add Bitcoin to America's reserve currencies or funds at any time he wishes, or at least make a news about them, and they can easily push Bitcoin upwards. Twenty One will be set up tremendously from this. As I said, Twenty One and Microstrategy have similar structures.

So far, Microstrategy has bought a total of $50 billion worth of Bitcoin. Twenty One Capital comes into play first with $4 billion. But later, it will bring in even more money with new rounds of borrowing and maybe new rounds of stock sales just like Microstrategy, and think about it like this, this is a company founded by the son of a man who has the authority to buy Bitcoin directly into America. They will probably have some advance information about where the markets will go. I think it's a really interesting development.

By the way, what does SPAC mean, I mentioned it earlier. In America, companies use it as a quick method to go public. There are empty companies, those that have been established before, have the authority to go public, and have overcome many legal and procedural difficulties. When a new company wants to go public, it merges with them and thus goes public quickly. Then it separates from them when the time comes. In this way, the process is accelerated. This is what SPAC means. I predict that the crypto world will use SPACs a lot in the coming days.

Of course, the path that Twenty One is following has its difficulties. If the price of Bitcoin fluctuates, Twenty One will also be in trouble, just like Microstrategy. Experts on Wall Street are warning a lot about this. They say this process is unsustainable and our companies are also experiencing serious debt burdens. Microstrategy's advantage was that it entered this business with cheaper prices. Twenty One is new to the game, but maybe being the son of a minister who is very effective in determining the price of Bitcoin can help the company. It's like a conspiracy theory, but I think it could happen.

By the way, Microstrategy made a big loss on Bitcoin in the last quarter. Because, as you know, the price of Bitcoin fell. Tesla also declared a loss on its balance sheet. But I think these are short-term fluctuations. All this infrastructure, all these preparations, on the one hand, as you know, Trump's son also has a company that invests in crypto. He also recently gained the authority to issue stable coins. Lutnick is involved, Trump is involved, at least in order to increase their own wealth, they will approach Bitcoin and cryptos positively and I am sure we will hear interesting, market-pumping news in the coming days. But you never know what will happen in the short term. At the same time, I still think Bitcoin is a very risky asset. So proceed carefully, manage your positions. Even if you don't like Bitcoin very much, I don't think you will be left without Bitcoin. Don't use leverage, go normal, buy less and put it aside. Because when you put all these things together, we can understand that Bitcoin is heading towards a new phase.

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