Donald Trump signs Genius Act, but Bible believers realize one does not need to be a genius to realize crypto is software nothing
WATCH: Trump signs the GENIUS Act into law.
— Bitcoin News (@BitcoinNewsCom) July 18, 2025
Donald Trump signed the so-called Genius Act:
Trump signs the Genius Act into law, in significant step for U.S. crypto regulation
July 18, 2025
On Friday afternoon, President Donald Trump signed the Genius Act, which aims to regulate the issuing and use of stablecoins. Stablecoins are digital assets that are tied to real-world assets — like USDC USDCUSD -0.01% and Tether USDTUSD 0.00% , which are pegged to the U.S. dollar DXY -0.27% — with an aim of keeping their value relatively fixed. This contrasts with some other cryptocurrencies, like bitcoin BTCUSD +0.39% , which have historically been more volatile.
Trump invited a handful of crypto-industry executives to the signing …
“Let me say, the entire crypto community for years, you were mocked and dismissed and counted out,” Trump told the audience in the White House’s East Room. “But this signing is a massive validation of your hard work and your pioneering spirit and your ability to never give up.”
Jennifer Schulp, the director of financial-regulation studies at the Cato Institute, said that Trump’s signing of the Genius Act creates an important regulatory framework for stablecoins.
“The good? Stablecoin users will benefit from regulatory clarity that will help to ensure that the coin is stable as promised. The bad? The legislation places unnecessary limitations on competition, grants regulators too much discretion, and leaves open the possibility of increased government surveillance of stablecoin users,” Schulp said. …
Crucially for Trump, the hope is that stablecoins will become a major buyer of short-term Treasury debt. Trump’s signature budget law that passed in July boosted the U.S. debt ceiling by $5 trillion and is estimated to add another $3.4 trillion to the U.S. deficit over the next decade. https://www.marketwatch.com/story/trump-signs-the-genius-act-into-law-in-significant-step-for-u-s-crypto-regulation-3d864a10
It does not take a genius to realize that crypto will not truly solve USA indebtedness. See also the post: Trump Administration pushes ‘stable’ crypto reserve, but crypto is not stable like gold.
Prophetically, we see the that the time will come when the nations of the world will no longer accept the pledges (US Treasury Bills and Notes) of the indebted one, even though it seems like it will take a while. The prophet Habakkuk wrote:
2 Then the Lord answered me and said:
“Write the vision
And make it plain on tablets,
That he may run who reads it.
3 For the vision is yet for an appointed time;
But at the end it will speak, and it will not lie.
Though it tarries, wait for it;
Because it will surely come,
It will not tarry. (Habakkuk 2:2-3)
Notice that the word of God states it will tarry, take a while, but the results will surely come. And that the result is that people should run (flee) because of it.
Here are some details about what is coming and why:
6 “Will not all these take up a proverb against him,
And a taunting riddle against him, and say,
‘Woe to him who increases
What is not his — how long?
And to him who loads himself with many pledges’?
7 Will not your creditors rise up suddenly?
Will they not awaken who oppress you?
And you will become their booty.
8 Because you have plundered many nations,
All the remnant of the people shall plunder you,
Because of men’s blood
And the violence of the land and the city,
And of all who dwell in it. (Habakkuk 2:6-8).
Please pay attention to the fact that that above is a prophecy for the appointed time of the end–essentially the time of the Great Tribulation (Matthew 24:21). The USA has been accumulating pledges in the form of US Treasury bonds and notes, and is the most indebted nation of all time–having crypto will not stop Habakkuk 2 from being fulfilled.
It is descendants of Israel, like the USA, that are prophesied to have debt issues with foreigners if they turn from God’s laws (cf. Deuteronomy 28:43-44)–that is consistent with Habakkuk 2:6-8. The above prophecy is NOT a reference to the nation calling itself Israel as it has nothing compared to USA debt–nor does Israel have much in the way of enemy (and prophesied enemy) creditors.
Now notice something from by book, Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies?:
Donald Trump has also vowed to create a “bitcoin and crypto presidential advisory council.” [i]
Donald Trump, also, essentially has called for the United States to have a ‘Bitcoin reserve’ by having the government holding on to all Bitcoin it amasses from criminals and others.[ii]
He has suggested it is a great investment.
Historically, the United States and many other nations have used gold as a reserve. Unlike Bitcoin, which is basically an electronic concept, gold is an element, which basically could not be destroyed short of nuclear level heat.
An unintended consequence of his Bitcoin focus is that since it can be destroyed and has no intrinsic physical value, more stable items like gold could be overlooked by the USA government.
[i] Sigalos M. Here’s what Trump promised the crypto industry ahead of the election. CNBC, November 6, 2024
[ii] Ibid
Gold is an element. It is, to a major degree, chemically stable. Unlike crypto, gold does not rely on electricity nor software to exist or be accessed. The reality is that compared to gold cryptocurrencies are not stable. While gold is prophesied to have value (Daniel 11:40-43), after the USA is gone (cf. Daniel 11:39), the same cannot be said about Bitcoin or similar cryptocurrencies.
Related to that, the Continuing Church of God put together the following sermonette:
Bitcoin … as good as gold?
“Bringing you news and analysis of world events in light of Bible prophecy.” This is the mandate of the Continuing Church of God. The world events Dr. Thiel will focus on today will be the recent record rise in the value of Bitcoin to over $100,000.00 The are several questions that will be addressed. Among them are: Will Bitcoin replace gold? Is Bitcoin as valuable as gold? Will nations just accumulate Bitcoin, will they just accumulate gold, or will they accumulate both? Will governments embrace Bitcoin? What about the US dollar? Will it be replaced by Bitcoin? Is it possible that the US Dollar will still be the world’s reserve currency well into the Great Tribulation? How about Bitcoin? Is something similar to Bitcoin prophesied in the Bible? Dr. Thiel addresses these world news items in light of Bible prophecy. He uses scriptures that address the status of the US Dollar’s value during the Great Tribulation as well as the use of a Bitcoin, like crypto currency, by the Beast of Revelation 13. Is it possible that both gold and Bitcoin will be useless as a hope for salvation? Dr. Thiel gives the prophetic answer to that question at the end of this video.
Here is a link to our video: Bitcoin … as good as gold?
Several years back, ZeroHedge posted the following:
The Bitcoin is ‘as-good-as-gold’ myth is over
November 17, 2022
When you invest in gold or buy silver coins … you are choosing to invest in an asset that has no counterparty risk.
Sadly those who have been holding their bitcoin on the crypto exchange FTX, have not experienced the same level of reassurance and service from the exchange’s management.
This time last year, cryptocurrency enthusiasts were still touting “Crypto as the new gold”– crypto touted as having the same ‘safe’ attributes as gold.
The main attribute is that it is a currency that government doesn’t control. Also, it is without counterparty risk. The latest debacle has once more proved this is not always the case for cryptocurrencies.
The news that the crypto exchange FTX was filing for bankruptcy on November 5 sent Bitcoin plunging down a further 25%.
This is on top of the more than 60% Bitcoin has already declined since its November 2021 peak. …
The FTX collapse has brought to light that the CEO, Sam Bankman-Fried, had authorized billions of dollars worth of customer assets to be lent to its affiliated trading firm Alameda Research to fund risky bets.
According to news reports Alameda Research owes FTX upwards of US$10 billion. This is more than half of its US$16 billion in customer assets!
The bankruptcy case is likely to take years to unravel. There could be more than one million creditors, and more than 100 other related corporate entities involved.
Everyone who thought they owned Bitcoin held by FTX became an unsecured bankruptcy creditor. These are the ones who must now rely upon some Court to confirm just how much, or any Bitcoin they will receive. …
Only time will tell if the timing of the test (on the heels of the FTX collapse) is simply ‘bad timing’ or an omen of a system building in even more risk. Investing in physical gold and silver are still the tried-and-true alternative! https://www.zerohedge.com/news/2022-11-17/bitcoin-good-gold-myth-over
Cryptocurrencies, like Bitcoin, have never been backed by anything other than the desire of many to use it to trade or speculate with. Stablecoin being backed by the USA dollar are really not backed by anything either, other than confidence in the USA–a confidence that will one day be totally gone (cf. Daniel 11:39). (Note: that although currencies like the USA dollar were once backed by gold, currently it, and nearly all currencies of the world, are backed by nothing either–so in that respect are not much different than cryptocurrencies.)
As long time reader of this COGwriter Church of God News page are aware, I never bought into the myth that Bitcoin was “as good as gold” and have long warned about it–here is a link to something posted here back in 2014: Bitcoin seller ‘goes dark’–Bitcoins are not the answer.
Notice also the following:
Crypto has made its own place in the world by making an amazing leap forward as a medium of exchange, with thus far unrivaled capabilities. But crypto is not gold, and can never be gold. I suggest that BTC and Crypto are better as a medium of exchange, while gold is a better medium for storing value.
This is not because of some dogma I have for the metal. Some will trot out “you are just talking your book” when I mention this.
The simple fact is, out of the near 185,000 tons of estimated above ground gold, someone owns, all of it. Every fine gram of gold above ground belongs to someone already, whether that be in the form of bars, coins, jewelry, the thin layer on astronauts helmets that protect them from solar radiation, or the gold plated contacts in the mining rigs used to mine crypto. New gold mined from the ground is usually spoken for before it ever hits a refinery. My job as a physical gold fund manager is not to convince people to buy gold, that job has already been done.
The reason crypto can never replace gold lies in physics: Gold cannot be destroyed
Everything else can. Computers. Exchanges. Mining Pools. Wallets. Powergrids. Internets. Nations. You name it. If you blew up the planet earth, the gold atoms would still be there.
Unlike anything else you can invest or store money in, gold doesn’t rely on any external force for this to continue to be true over time. It is sort of like a battery with no expiration date.
Gold exists as atomic number 79 on the periodic table. It is chemically inert and does not interact with oxygen. It is the only element with properties that make it completely immune to the forces of entropy. The only way to destroy it would be to fire it into the sun, or somehow put it in the middle of an equivalent fusion reaction that took the atoms apart at a subatomic level. (Stanczyk A. A Gold Guys View of Crypto, Bitcoin, and Blockchain. Medium.com, December 10, 2017 https://medium.com/@alex.stanczyk/a-gold-guys-view-of-crypto-bitcoin-and-blockchain-26e42eeab6b7)
That said, Bitcoin and other cryptocurrencies are still around.
But it remains my view that once governments get involved enough with their own digital currencies, that steps to eliminate Bitcoin will take place.
The European Union took some steps in the past, some of which are in the following video:
EU to be ‘Sheriff’ of BitCoin & Digital Currencies
Will Bitcoin remain unregulated? The European Union does not think it should be and it released a paper titled “Proposal for EU Regulation on Markets in Crypto-Assets.” Christine Lagarde, president of the European Central Bank, earlier endorsed EU regulation of crypto and digital currencies. A Belgian declared that the EU was the “new Sheriff in town” to deal with the “wild west” of Bitcoin, blockchain, and other cryptocurrencies. The European Union now also has the European Public Prosecutor’s Office in operation, mainly to deal with financial matters? Will the Europeans end up controlling buying and selling associated with 666 in Revelation 13:16-18? Is Europe taking preliminary steps to do so now? Dr. Thiel address these issues.
Here is a link to our video: EU to be ‘Sheriff’ of BitCoin & Digital Currencies.
The Bible teaches that the coming Beast power will control buying and selling (Revelation 13:16-18)–hence the Bible makes no provision for something like Bitcoin being able to operate like it has.
As far as gold goes, it mentioned 453 times in the NKJV Protestant translation of the Bible and 464 times in the Roman Catholic Douay-Rheims Bible–hence it is something that the Bible refers to. Furthermore, gold is prophesied to have worth into the time of the Great Tribulation (cf. Revelation 18:12,16), but that will not last either.
The Bible prophesies King of the North will get gold which end time Babylon will trade with:
37 He shall regard neither the God of his fathers nor the desire of women, nor regard any god; for he shall exalt himself above them all. 38 But in their place he shall honor a god of fortresses; and a god which his fathers did not know he shall honor with gold and silver, with precious stones and pleasant things. 39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain. 40 “At the time of the end the king of the South shall attack him; and the king of the North shall come against him like a whirlwind, … 43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt … (Daniel 11:37-40,43)
10 … ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’ 11 And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore: 12 merchandise of gold and silver, precious stones and pearls, fine linen and purple, silk and scarlet, every kind of citron wood, every kind of object of ivory, every kind of object of most precious wood, bronze, iron, and marble; 13 and cinnamon and incense, fragrant oil and frankincense, wine and oil, fine flour and wheat, cattle and sheep, horses and chariots, and bodies and souls of men. 14 The fruit that your soul longed for has gone from you, and all the things which are rich and splendid have gone from you, and you shall find them no more at all. 15 The merchants of these things, who became rich by her, will stand at a distance for fear of her torment, weeping and wailing, 16 and saying, ‘Alas, alas, that great city that was clothed in fine linen, purple, and scarlet, and adorned with gold and precious stones and pearls! (Revelation 18:10-16)
While the Bible is clear that gold will, for a time, not be wanted but tossed (Ezekiel 7:19), it is obvious that into the Great Tribulation (Matthew 24:21-22), which starts in verse 39 of Daniel 11, gold will have value (see also The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?)–value after the US dollar becomes worthless.
The old Worldwide Church of God published the following:
Of course, since gold is regarded as a disaster hedge by many investors, prudence might dictate that perhaps a small fraction of your liquid assets be in gold: (Caulkins J. WHEN MONEY FAILS. Good News, October-November 1979)
In Revelation 18, we are given a graphic description of Europe at its future economic peak. Remember this prophecy occurs after the United States, Canada and other Israelitish nations have been conquered and brought into subservience. … In verse 11, Europe’s coming economic wealth and scope is described as John sees it, shortly before the final crisis (to occur at Christ’s coming) takes place. “And the merchants of the earth shall weep and mourn over her, for no man buyeth their merchandise any more: The merchandise of gold and silver … (Catherwood CA. Europe and Our Prophetic Message. Good News, October-November 1979)
Yes, gold will outlast the US dollar and the European Beast power will have it.
Do NOT place your confidence in crypto, the US dollar, silver, or gold, but “seek first the Kingdom of God” (Matthew 6:33).
That said, while Donald Trump wants a crypto reserve, and has publicly opposed the USA dollar to be digital (see Donald Trump bans CBDC and promotes Crypto, while ECB pitches digital euro as response to Trump’s crypto push), digital currencies have long been the plan of the European Union and the International Monetary Fund.
So are cryptocurrencies consistent with the Beast of Revelation?
Yes.
Notice some scriptures:
1 And I saw a beast rising out of the sea, with ten horns and seven heads, with ten diadems on its horns and blasphemous names on its heads. 2 And the beast that I saw was like a leopard; its feet were like a bear’s, and its mouth was like a lion’s mouth. And to it the dragon gave his power and his throne and great authority. (Revelation 13:1-2, ESV)
16 Also it causes all, both small and great, both rich and poor, both free and slave,e to be marked on the right hand or the forehead, 17 so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. 18 This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666. (Revelation 13:16-18, ESV)
A cashless society is one where buying and selling can be controlled. This is not something that was possible when Jesus had the Apostle John pen the above. But it is possible now with technology–but that does not necessarily mean a cryptocurrency like Bitcoin, but simply digital money. More and more in the world, in general, and Europe in particular, are moving that way.
Also, as the late prophetic Protestant write Hal Lindsey once pointed out, much surveillance is already in place–and more is to come!
Nearly a decade ago, Jim Rickards wrote:
Interest in Bitcoin is red hot at the moment. It’s impossible to open a website, listen to a podcast, or watch a video in the financial space without hearing about the meteoric rise in the price of Bitcoin. …
Yet the crypto-hysteria is distracting you from a scary truth no one is talking about. There is every indication that governments, regulators, tax authorities, and the global elite are moving in for the crypto-kill. The future of Bitcoin may be a dystopia in which Big Brother controls what’s called “the blockchain” and decides when and how you can buy or sell anything and everything.
Furthermore, cryptocurrency technology could be the very mechanism used by global elites to replace the dollar based financial system. …
Governments have been patiently watching blockchain technology develop and grow outside their control for the past eight years.
Libertarian supporters of blockchain celebrate this lack of government control. Yet, their celebration is premature, and their belief in the sustainability of powerful systems outside government control is naïve.
Governments don’t like competition especially when it comes to money. Governments know they cannot stop blockchain, in fact they don’t want to. What they want is to control it using powers of regulation, taxation, and investigation and ultimately more coercive powers including arrest and imprisonment of individuals who refuse to obey government mandates with regard to blockchain.
Blockchain does not exist in the ether (despite the name of one cryptocurrency) and it does not reside on Mars. Blockchain depends on critical infrastructure including servers, telecommunications networks, the banking system, and the power grid, all of which are subject to government control. 09/05/17 https://dailyreckoning.com/global-elites-secret-cryptocurrencies/
Jim Rickards’ comment about “Big Brother” controlling buying and selling is consistent with biblical prophecies. Before going further, let me mention that I tried to explain the points that are in his last paragraph above to someone many years ago as I asserted that governments can control cryptocurrencies. Notice that I also asserted that on this page long ago:
There is no way governments will intentionally allow a system that gets around all of their financial espionage. China is starting to publicly state that, and the government of USA has also began to try to figure out how to handle Bitcoin (Congress has held one or more hearings). (Thiel B. Bitcoin, China, NSA, & the Beast. COGwriter, December 5, 2013)
Yet, governments do want control–and will get more of it according to prophecy. Hal Lindsey and I agreed on that.
And yes, the IMF, which has a lot of European influence, is interested in financial monitoring and control.
The technology for the Beast of Revelation to control buying and selling is being put in place and is getting more acceptance.
The time is also coming when the USA dollar will be worthless–hence so-called stable coins tied to the value of the USA dollar will be worthless. Bitcoin will also be worthless at some point. And yes, the Bible tells that for a time gold will be worthless, but that does not happen to gold until years after the demise of the US dollar. But placing too much confidence in gold, currencies, or alternatives like cryptocurrencies will not truly save anyone (cf. 1 Peter 1:7). Yet, true repentance and turning to the Jesus of the Bible can.
Although the USA is not likely to repent to prevent its prophesied national fall, nor can cryptocurrencies prevent it, personally you can repent as well as physically take steps before the dollar-based economic system collapses.
The world order is shifting away from USA dominance. Some type of digital currency will replace the USA dollar in the future.
If it is a cryptocurrency in Europe, I expect it will have some type of declared tangible backing, like gold.
Some items of possibly related interest may include:
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What About Silver? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin?
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is are links to related videos: European history and the Bible, Europe In Prophecy, The End of European Babylon, and Can You Prove that the Beast to Come is European? Here is a link to a related sermon in the Spanish language: El Fin de la Babilonia Europea.
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Three related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency and Donald Trump and Unintended Consequences.
Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies? Is Donald Trump going to save the USA or are there going to be many disastrous unintended consequences of his statements and policies? What will happen. The link takes you to a book available at Amazon.com.
Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies? Kindle edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies?
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