🟠 Ancient BTC

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.

Late send here today, but a lot is happening so I wanted to get it out.

Happy Thursday to the 19,498 Minimalist members reading this evening! 👋 

Today we’re covering:

• Tether mints $1B USDT pre-FOMC

• Ohio advances tax-free BTC payments

• Canada dumps $58B in U.S. debt

• And everything else you need to know.

Estimated read time: 2 minutes and 59 seconds

WHAT WE’RE WATCHING

🪙 For the first time, Bitcoin’s “ancient supply” is growing faster than new issuance—566 BTC daily vs. 450 mined. As of June 2025, over 17% of all Bitcoin is 10+ years old, highlighting the growing influence of long-term holders and the asset’s increasing scarcity trend.

📊 VanEck's Matthew Sigel predicts Bitcoin could hit $180K by late 2025. He cites declining volatility, corporate treasury buying outpacing ETFs, and advisor-driven adoption among the key drivers. Sigel also highlights AI and energy policy as long-term catalysts reshaping institutional demand for Bitcoin.

📊 TechDev’s latest report points to rising global M2 liquidity and a bullish copper/gold ratio as signals of Bitcoin’s next parabolic move. These macro indicators have historically preceded major bull runs, suggesting conditions may now echo past cycle setups for risk assets like Bitcoin.

🎯 Semler Scientific targets 105,000 BTC by 2027, up from 3,800. The healthcare tech firm aims to reach 10,000 BTC by end of 2025 and has appointed Joe Burnett as director of bitcoin strategy. Despite a 41% stock drop, it reports $177M in unrealized gains from BTC holdings.

🏛️ U.S. Senate passes the GENIUS Act in a 68-30 vote, marking the first major crypto bill to clear the chamber. The legislation sets strict rules for stablecoin issuers and now moves to the House, where its future remains uncertain amid broader digital asset regulation efforts.

🧠 Western workers are losing 2–5% in real wages while banks offer just 0.5% interest amid 3–8% inflation. This unconscious compliance props up fiat economies, but cracks are emerging. More people are turning to Bitcoin as a hedge, hinting at a slow shift away from the status quo.

IN THE LOOP

• Prenetics appointed a Trump crypto adviser and bought $20 million in Bitcoin as part of a larger reserve strategy.

• Ohio's House advanced a bill allowing tax-free Bitcoin payments under $200.

• Pro-Israel hackers destroyed over $90 million in crypto from Iran’s Nobitex exchange.

The most clicked link in our last newsletter was Brad Mills predicting Bitcoin could 100x in 10–20 years due to scarcity, institutional adoption, and Lightning tech.

MACRO & INDUSTRY

• A hacked tweet falsely claiming Paraguay adopted Bitcoin as legal tender briefly pushed BTC above $110K before being debunked.

• Tether minted $1 billion USDT ahead of the FOMC meeting, fueling speculation of a potential Bitcoin rally.

• Canada reduced its U.S. Treasury holdings by $57.8 billion in April 2025, dropping from $426.2B to $368.4B.

• The Federal Reserve left interest rates unchanged for the fourth straight meeting, citing solid economic growth and persistent inflation.

• Elon Musk’s X will soon offer investment and trading features as part of its push to become a financial “super app.”

POLL

TUESDAY’S POLL RESULTS

Do you believe in the “SaylorCycle” — Bitcoin going 100x in 10–20 years?

🟩🟩🟩⬜️⬜️ ✅ Yes (60%)

🟨⬜️⬜️⬜️⬜️ 🤷‍♂️ Maybe, but it feels like hopium (25%)

🟥⬜️⬜️⬜️⬜️ ❌ No, that’s unrealistic (15%)

✅ Yes: “I do not see how it wouldn’t, we are a debt based system. Meaning the money printing can not stop. Bitcoin, gold, and silver will continue to go up, along with greedy stocks. Hopefully more and more people understand this and get in on Bitcoin. The dollar is not a safe place for your hard work and future.” — Riley

✅ Yes: “The real money is just starting to enter bitcoin. Just look back, 100x is absolutely nothing.” — John

❌ No, that’s unrealistic: “We will have much bigger problems if BTC 100x's in 10 years. People who wish for this better have a private army to go along with that BTC.” — Matt

❌ No, that’s unrealistic: “The ones with the most to lose in this scenario are more powerful than the ones with the most to gain.” — Addison

❌ No, that’s unrealistic: “Would not be surprised to see Saylor and his BTC holding company liquidated before that happens.” — Madeline

VIDEO

💬 Scott Bessent argues crypto reinforces dollar dominance, not threatens it—especially via USD-backed stablecoins. 

He says these could boost Treasury demand and global dollar use.

Check out the clip on X:

CHARTS & DATA

Realized Price - Bitcoin’s realized market cap is nearing $1 trillion USD.

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