Today’s edition is brought to you by OKX – the centralized exchange that’s giving you the chance to win an iPhone 16, iPad Pro and more. 

Register for OKX’s campaign now!

GM. This is Milk Road, the crypto newsletter where we have hypothetical arguments with our researcher’s girlfriend’s dad.

(Read the second article, it’ll make sense.)

Here’s what we got for you today:

• ✍️ BTC’s 7-day price = unchanged?

• ✍️ Gold vs. $BTC

• 🎙️ The Milk Road Show: The Trade War Is a Setup for Bitcoin’s Next Big Run w/ Samson Mow

• 🍪 Trump signs bill repealing the IRS rule targeting DeFi

SURE, THIS WEEK FELT TERRIBLE – BUT $BTC IS DOWN LESS THAN 1%! 🧘‍♂️

This week:

• Trillions were wiped from markets

• JP Morgan upped their recession chances to 60%

• Crypto tokens across the board reached 12 month lows

(If you’ve been following all this, you’ve likely been in ‘fight or flight’ mode these past few days.)

But here’s the craziest part:

Even after all of that – and with crypto market sentiment at multi-year lows…

$BTC is only down -0.7% over the last 7 days.

So why the panic? 

Here’s a blow-by-blow of the news-driven cycle of fear we’ve all experienced over the past ten days, in chart form:

Looking day-by-day = pure panic.

Looking week-by-week = chill vibes.

This is why taking a long-term view wins-out in investing (not just zooming out from days to weeks, but to years/decades) – it helps to tune out the short/medium term noise and lower the effects that outside factors have on your psychology.

👉 “Tariffs? Eh, they’ll be old news a year from now.”

👉 “Interest rate hikes? They’ll reverse eventually.”

👉 “My wife’s leaving me? Hey, we had a good run.”

…ok, scratch that last one and book me a therapy appointment – point is: in investing, psychology is everything.

The trick:

Zoom out → chill out → stack fundamentally strong assets → win.

GOLD IS PUMPING. $BTC IS FLAT. TIME TO ZOOM OUT. 🌎

Continuing the topic of long-term views – I want to talk about our Head Of Research’s girlfriend’s dad.

Sounds weird (and it is) but hear me out – it’ll pay off (promise).

Last year, Kyle (our Head Of Research) had a discussion with his girlfriend’s father. 👇

The dinner in question has already happened, but I figured I’d prepare some talking points/rebuttals (across multiple time frames) in preparation for any future arguments with your gf’s dad…or Peter Schiff.

Starting in the current moment:

Fair play, gold has had a great week compared to Bitcoin. 🤝

It’s up 4.86% compared to $BTC’s -0.7%. 

But remember what we covered in the first article: we’re playing the long game baaaby! 

So let’s zoom out…

Over 1 year, Gold is up ~36% while $BTC is up ~17% 

(Don’t worry Kyle, we’re lulling your gf’s dad into a false sense of security with this one. 👇)

Over 5 years: Gold is up ~91%, while $BTC is up – wait for it – ~1,090%!

Oooft! Sorry Kyle’s gf’s dad!

(Kyle, I recommend you stop here. Going any further could do serious damage to your relationship.)

That said…if you really want to dig the knife in – hit him with this bad boy!

Over 15 years: Gold is up ~185%, while $BTC is up 2,743,020,566.67%.

Yuh. 2.74 billion percent. Not a typo. 👇

We’ll say it again:

Zoom out → chill out → stack fundamentally strong assets → win.

BITE-SIZED COOKIES FOR THE ROAD 🍪

Want front-row access to Avalanche’s next chapter? Head to Avalanche Summit in London for all the exciting announcements!*

Bitcoin payments coming to New York? This latest bill wants to make it happen.

Trump signs bill repealing the IRS rule targeting DeFi. Just in time for tax season, nice!

Luckiest man alive to speak at Bitcoin 2025. The $BTC community helped get Ross Ulbricht out of jail and now they’re paying him to speak at their conference. Luck is real and this guy has it in spades.

Trade on dYdX, earn points and convert them into $DYDX tokens. If you trade on smaller markets, get double the points! They’re basically just handing out free money.**

*this is sponsored content.
**this is partner content.

MILKY MEMES 🤣

RATE TODAY’S EDITION

ROADIE REVIEW OF THE DAY 🥛

VITALIK PIC OF THE DAY

“The blockchain movement’s biggest celebrity”. Well, this celebrity is now getting his own film and you can now pre-order it on Apple TV.