🟠 BTC Dominance

First time reading? I’m Jordan, and this is The Bitcoin Minimalist. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights.

Good morning — Jordan here.

Happy Tuesday to the 19,642 Minimalist members reading today. 👋 

Today we’re covering:

• U.S. controls 75.4% Bitcoin hashrate

• IBIT gains $4.5B in one week

• Arizona approves public Bitcoin reserves

• And everything else you need to know.

Estimated read time: 2 minutes and 50 seconds

WHAT WE’RE WATCHING

⚡ U.S. Commerce Secretary Lutnick says Bitcoin miners can now build their own power plants to cut costs and boost independence. Through the new Investment Accelerator, the government aims to fast-track billion-dollar investments and “turbocharge Bitcoin mining in America,” offering miners full regulatory support.

🇺🇸 The US commands 75.4% of global Bitcoin hashrate, per a Cambridge survey. The government is promoting energy autonomy for miners, including building private power plants. Despite tariff hurdles, analysts forecast mining growth, with the global hashrate possibly topping 1 ZH/s by July 2025.

💰 Strategy bought 15,355 Bitcoin for $1.42 billion at an average price of $92,737. This raised its total holdings to 535,555 BTC, now valued at over $50 billion. The acquisition is Strategy’s largest since March and helped push its 2025 BTC yield to 13.7% so far.

💰 BlackRock’s IBIT pulled in $970.9M Monday—its second-largest inflow since launch—while rivals like Fidelity and ARK saw major outflows. IBIT has now gained $4.5B since April 22. Meanwhile, CME Bitcoin Futures open interest has dropped four days straight.

📉 Fidelity’s Q1 2025 report notes a complex start to the year for digital assets, despite strong long-term outlooks for Bitcoin. A 20% BTC pullback is framed as mild, with fundamentals intact. Key themes include the U.S. Strategic Bitcoin Reserve, institutional adoption, and tariff-related uncertainty.

IN THE LOOP

• Coinbase launched a Bitcoin Yield Fund for non-U.S. institutions offering 4% to 8% returns through a conservative arbitrage strategy.

• Arizona passed two Bitcoin Reserve bills allowing up to 10% of public funds to be allocated to Bitcoin & crypto.

• Bitcoin dominance hit 63% in Q2 2025 as institutions rotated defensively into ETFs.

• A Cambridge study found Bitcoin mining’s sustainable energy use has reached 52.4%, surpassing Elon Musk’s threshold for Tesla to resume BTC payments.

The most clicked link in our last newsletter was Serbia’s Prince Filip saying Bitcoin is being suppressed and predicts explosive $100K daily moves in the future..

MACRO & INDUSTRY

• Ray Dalio warned that Trump’s tariffs are accelerating deglobalization and could lead to a breakdown of the global monetary order.

• Monero surged 50% after a suspected $330 million Bitcoin theft was laundered through XMR, according to on-chain analyst ZachXBT.

• Pro-Bitcoin Pierre Poilievre lost his seat as Mark Carney’s Liberal Party won enough seats to form at least a minority government in Canada’s 2025 election.

POLL

THURSDAY’S POLL RESULTS

If Bitcoin were to theoretically hit $500,000 this year, what would you do?

🟨⬜️⬜️⬜️⬜️ 💸 Sell it all (11%)

🟩🟩🟩⬜️⬜️ 💵 Sell some (45%)

🟨🟨⬜️⬜️⬜️ 🔐 HODL, never sell (43%)

🟥⬜️⬜️⬜️⬜️ 🤷‍♀️ Other (1%)

💵 Sell some: “Much as I love Bitcoin, I don't own it simply to possess it. I own it to preserve purchasing power for things/services I wish to buy.” — Riley

💵 Sell some: “Take some profits when available. Bitcoin will go up, Bitcoin will go down. The nature of the beast. Always take some off the top, you will be happy when you do. When it drops, as it will, you buy back in and attain more Bitcoin for the next rise in price.” — Tim

💵 Sell some: “Probably would sell some of the ETF holdings, but not actual Bitcoin.” — Mike

🔐 HODL, never sell: “If it’s worth 500k then its definitely worth 5M. Just buy what you need and keep stacking.” — Alex

🤷‍♀️ Other: “Work the trend baby, up or down!” — Joe

VIDEO

Commerce Secretary Lutnick says Bitcoin is now treated like a commodity under Trump’s administration.

He confirmed the creation of a U.S. Bitcoin strategic reserve and launched the Investment Accelerator to fast-track billion-dollar investments, aiming to "turbocharge" Bitcoin mining with private energy solutions.

Watch the full interview here:

CHARTS & DATA

Fear & Greed - Bitcoin Fear & Greed Index is rising. It’s now at 60 after reaching the 20s in recent weeks.

Short Term Holder Realized Price - Bitcoin is now just above its short term holder realized price. It is generally above this level in bull markets.

MORE FROM BITBO

The Bitcoin Minimalist is run by Bitbo. Browse our most popular pages across our sites:

Bitbo Pro: Analytics & intelligence to supercharge your Bitcoin investing & trading.

Bitbo Charts: Useful Bitcoin charts, featuring on-chain metrics and other Bitcoin analysis.

Bitbo Store: Shirts, hats, hoodies, mugs, and other merch for Bitcoiners.

Bitbo Dashboard: View live price action, monitor on-chain data, and track key economic indicators - all for free.