Chris Campbell:

Bitcoin Breaks $90K as Markets Steady Following Trump's Federal Reserve Attacks

The price of Bitcoin passed $90,000 per coin for the first time since early March on Tuesday as stocks and other risk assets jumped. It was recently trading for $90,341 after jumping more than 2% over a 24-hour period.

The biggest digital coin had struggled and plunged with other assets at the start of April, following President Trump's aggressive new tariff policy. But the commodity has recovered and is pushing higher again. The price jump comes as gold hit a new high and U.S. equities, bonds, and the dollar all steadied after diving on Monday.

Traders were spooked in recent days by President Trump's attacks on Federal Reserve Chair Jerome Powell. The president called the boss of the U.S. central bank a "major loser," and hinted that he wanted Powell fired because he had been too slow to lower interest rates.

The Fed is supposed to be fiercely independent and the White House seldom meddles in the bank's affairs. But Trump is reportedly looking for ways to force the issue—which analysts say could be bullish for Bitcoin.

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James Altucher:

Everyone’s Wrong About Trump and the Fed

Firing someone isn’t always about incompetence. Sometimes it’s about control. And that’s exactly what we’re watching play out—right now—with Trump and Jerome Powell. Trump just threatened to “terminate” Powell.

CNBC says “he can’t do that.” Fox says “he absolutely should.” Meanwhile, everyone’s missing what’s really happening in the markets. Spoiler: the biggest setup for stocks in decades. Maybe ever. And, yes, it has everything to do with what Trump’s doing right now.

Trump sees Powell as an obstacle. But can he really fire him? Legally? Not easily. The Fed Chair serves a four-year term, and you need “cause” to remove him. And nobody knows what “cause” actually means.

For the record, I don’t think Trump will fire Powell. He doesn't need to at all. Because the pressure alone is already having an effect. Behind the scenes, markets are twitching. And capital is starting to move. My team and I are watching it in real-time.

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Davis Wilson:

Saying ‘Please’ and ‘Thank You’ to ChatGPT Costs Millions of Dollars, CEO Says

Being polite to artificial intelligence can be quite expensive. OpenAI CEO Sam Altman said on social media last week that saying "please" and "thank you" to ChatGPT has cost the company quite a bit of money.

Altman's comment came in response to a user on X, the platform formerly known as Twitter, who was curious how much money OpenAI has lost in electricity costs from people showing good manners to their AI models.

"Tens of millions of dollars well spent--you never know," the CEO replied.

According to research conducted in December 2024 by Future, the publisher that owns TechRadar, about 67% of people who use AI are polite to it in the U.S.

The survey of more than 1,000 people show that about two-thirds of people say they are impolite to AI due to brevity. Additionally, about 12% of respondents say they are polite out of fear of future consequences.

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