🟠 BTC Trumps All

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.

A lot happening today in the Bitcoin world!

Happy Tuesday to the 19,571 Minimalist members reading today. 👋 

Today we’re covering:

• Metaplanet hits $1.4B after BTC pivot

• Strike offers no-check Bitcoin loans

• New Hampshire approves Bitcoin reserve

• And everything else you need to know.

Estimated read time: 3 minutes and 22 seconds

WHAT WE’RE WATCHING

🚨 Eric Trump says he and Donald Trump “own a lot” of Bitcoin. In a public statement, he expressed strong support for BTC, adding, “I love Bitcoin,” and predicted “exponential growth” in its future.

💰 Coinbase will acquire crypto derivatives exchange Deribit for $2.9 billion. Deribit is one of the largest Bitcoin exchanges in terms of perpetual and futures volume. The deal includes $700M in cash and 11M Coinbase shares, marking Coinbase's major push into the crypto derivatives market amid growing industry consolidation.

📦 Trump crypto adviser David Bailey raised $300M to launch Nakamoto, a Bitcoin investment firm. The company, aiming to go public via reverse merger, plans to acquire businesses globally and hold BTC as part of its capital strategy, echoing Michael Saylor’s model with Strategy.

💸 Strike launches Bitcoin-backed lending for individuals and businesses. The Jack Mallers-led app offers 12-month loans from $75K to $2M at 12%+ APR, with no credit checks or early repayment fees. It enters a recovering crypto lending market still down 43% from its 2021 peak.

🏛️ New Hampshire becomes first U.S. state to approve a crypto reserve law. Governor Kelly Ayotte signed a bill allowing up to 5% of public funds to be invested in assets like Bitcoin, marking a major milestone in state-level crypto adoption.

📝 [Opinion] The OP_RETURN debate reveals deep rifts over Bitcoin's purpose. A proposal to lift OP_RETURN limits has sparked controversy, with critics warning it invites spam and dilutes Bitcoin’s monetary integrity, while supporters argue it promotes flexibility. The debate highlights unresolved tensions around governance, decentralization, and Bitcoin’s evolving identity.

💰 Taiwan considers Bitcoin for national reserves amid 10% daily NT dollar swings. Legislator Ju-Chun Ko urged the central bank to explore Bitcoin as a hedge against U.S. dollar dependence and exchange rate volatility, following a meeting with JAN3 CEO Samson Mow.

🏛️ Arizona becomes second U.S. state to create a Bitcoin reserve as Gov. Hobbs signs HB 2749. The new law establishes a state-managed fund for unclaimed digital assets and staking rewards, just five days after Hobbs vetoed a separate bill allowing crypto investments in retirement funds.

IN THE LOOP

• Metaplanet’s market cap surged from near zero to over $1.4 billion in 12 months after adopting a Bitcoin treasury strategy.

• Vivek Ramaswamy’s Strive is going public via reverse merger to build a Bitcoin treasury using $1B in equity and debt.

• The UK Treasury rejected creating a national Bitcoin reserve, calling it inappropriate for its market despite aiming to be a crypto hub.

The most-clicked link in our last newsletter was about teen hackers arrested after a $243M Bitcoin heist and kidnapping revealed their SIM-swap scheme.

MACRO & INDUSTRY

• Diversified Energy is accused of abandoning a Pennsylvania Bitcoin mining site.

• Senate Democrats introduced a bill to ban presidents and lawmakers from profiting off crypto amid backlash over Trump-linked memecoins.

• Binance founder Changpeng Zhao confirmed he’s seeking a U.S. presidential pardon.

• Core Scientific posted a $580M Q1 profit but missed revenue estimates.

• Treasury Secretary Scott Bessent says stablecoin growth could create $2T in demand for U.S. government debt.

POLL

TUESDAY’S POLL RESULTS

Do you still think a U.S. Bitcoin reserve will happen in 2025, or was it all talk?

🟩🟩🟩⬜️⬜️ 🇺🇸 Yes, but slowly (48%)

🟨🟨⬜️⬜️⬜️ 🗣 ️Mostly talk — for now (29%)

🟥⬜️⬜️⬜️⬜️ 🔎 Too early to call (14%)

🟥⬜️⬜️⬜️⬜️ 🙅 Unlikely (9%)

🇺🇸 Yes, but slowly: “BTC still suffers from a good bit of ‘too good to be true’-ism.” — George

🇺🇸 Yes, but slowly: “They are taking their time.” — Mike

🙅 Unlikely: “Orange felon is all talk grifter.” — Phil

VIDEO

Michael Saylor calls Bitcoin the “Apex capital strategy” in a 2025 keynote.

At Bitcoin for Corporations, he argued corporate treasuries are failing and backed his case with comparisons to gold, sovereign bonds, and tech stocks—urging executives to adopt Bitcoin for long-term durability in the AI era.

Watch the full presentation here:

CHARTS & DATA

Monthly RSI - Bitcoin is nearing all-time highs, yet monthly RSI is at just 68.05.

Mayer Multiple - Bitcoin is nearing all-time highs, while the Mayer Multiple stands at just 1.09. 

FROM THE ARCHIVE