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.

Today we’re covering:

• Bitcoin price passes $65,000,

• US Bitcoin miners hodl their BTC,

• Trump’s VP pick owns significant Bitcoin,

• And everything else you need to know.

—Jordan

TRUMP DRIVEN SURGE

Bitcoin Skyrockets After Trump Assassination Attempt

Trump-Driven Surge: Bitcoin's price soared past $64,000 following an assassination attempt on former President Donald Trump during a campaign rally in Pennsylvania. Analysts attribute this spike to improved odds of his election victory and his favorable stance on Bitcoin regulation.

Increased Trading Activity: Bitcoin's price jumped nearly 10%, from below $58,000 on Friday to over $63,000 on Monday morning. This surge coincided with heavy trading volume as Bitcoin broke above its 200-day moving average.

Instant Increase: The price of Bitcoin spiked sharply at the time of the assassination attempt. The red arrow in the image below points to where the shooting happened, and Bitcoin’s price rise immediately after can be seen clearly:

WHAT WE’RE WATCHING

🎤 Donald Trump remains confirmed to speak at the Bitcoin 2024 Conference in Nashville despite a recent assassination attempt. His support for Bitcoin contrasts with President Biden's stance. Trump's engagement shows the growing significance of Bitcoin in U.S. policy discussions. Get tickets here and use code BITBO for 10% off.

💸 Kraken will distribute Bitcoin (BTC) and Bitcoin Cash (BCH) to Mt. Gox creditors within 7-14 days after receiving funds from Trustees. This distribution aims to resolve decade-long compensation issues. Mt. Gox's transfer of 91,755 BTC impacted Bitcoin’s price, which retraced from $65,000 to around $63,405.

📢 David Bailey, CEO of the company running the Bitcoin 2024 conference, hints at more surprise announcements for the 2024 Bitcoin conference in Nashville. “As crazy as you already think Nashville is going to be, I can promise you we've kept some surprises back and we're not done yet. Buckle up!”

🪙 J.D. Vance, Trump's Vice President pick, owns between $100,001 and $250,000 in Bitcoin, held on Coinbase. The Ohio Senator disclosed this in his 2022 financial report. Vance's estimated net worth is $5 million to $10.5 million, and he is a pro-Bitcoin legislator drafting a bill on digital asset regulation.

📅 ETH ETFs can start trading on July 23, per SEC notification to issuers. Final S-1 documents must be submitted by Wednesday. ETH prices surged 7.3% on the news.

⛏️ US Bitcoin miners, including Marathon Digital Holdings and Riot Platforms, are holding onto their mined BTC instead of selling. Marathon holds 18,536 BTC worth over $1 billion, up 48% from 2023. This hodling trend is driven by expectations of future BTC price rises and strategic market considerations.

🇺🇸 Bitcoin Magazine CEO David Bailey plans to raise $15M for Trump's reelection campaign. The fundraiser will occur around the Bitcoin Conference in Nashville after the Republican National Convention, where Trump is expected to be nominated.

📈 U.S.-listed bitcoin miners' global hashrate share hit a record 26.6% in July, according to JPMorgan. The total market cap of 14 tracked U.S. miners rose 29% since June. Except for Stronghold Digital, all miners outperformed Bitcoin, with Cipher Mining leading at a 44% gain.

💰 Metaplanet bought another $1.2M worth of Bitcoin. The firm's stock spiked 22% on the Tokyo Stock Exchange. Metaplanet now holds 225.6 BTC, valued at $14.6M. The company's stock has surged six-fold since adopting its Bitcoin investment strategy in April 2024.

BITCOIN BOOM

BlackRock CEO Calls Bitcoin “Digital Gold”

BlackRock's Embrace: Larry Fink, CEO of BlackRock, admitted he was initially skeptical about Bitcoin but now considers it "digital gold" and a "legitimate" financial instrument. This shift from the head of the world's largest asset management firm, which oversees $10.6 trillion, marks a significant endorsement for Bitcoin, at least among traditional investors.

Bitcoin ETF Surge: BlackRock's iShares Bitcoin Trust (IBIT) has become the largest Bitcoin investment fund, surpassing Grayscale Bitcoin Trust (GBTC).

Latest Flows: As of July 15, IBIT saw inflows exceeding $18 billion year-to-date.

POLL

THURSDAY’S POLL RESULTS

Who will be the next entity to launch a speculative attack with BTC?

Country - 41.7%

Corporation - 33.3%

Individual - 25.0%

Country - “It will be countries adapting by BTC as strategic reserve” - Phillip

Individual - “Countries and corporations more likely to embrace” - Chris

IN THE LOOP

💰 CDK Global reportedly paid $25 million in Bitcoin to resolve a ransomware attack, disrupting 15,000 US car dealerships. The ransomware group BlackSuit received 387 BTC on June 21, which was then moved to centralized exchanges. CDK has not confirmed the ransom payment but reported system recovery for its customers.

🎨 Bitcoin 2024 will host the "Bitcoin Propaganda Track," a $5,000 winner-take-all contest for original Bitcoin commercials and memes. Participants must submit 30-60 second videos or memes by July 17th. Winners will be announced at the conference and featured in Bitcoin Magazine.

📈 Semler Scientific's board adopted a Bitcoin treasury strategy, driven by their substantial equity and alignment with shareholder interests. Their contrarian investment philosophy, known for yielding substantial returns, sees Bitcoin as a hedge against currency debasement and a high-potential asset.

⚖️ Plaintiffs filed a new, streamlined complaint in the class action against Tether and Bitfinex, accusing them of manipulating bitcoin prices and violating antitrust laws. The second amended complaint, filed in SDNY, alleges market manipulation and restraint of trade, reducing previous claims from twelve to three.

VIDEO

Dylan LeClair reveals how MicroStrategy's zero-interest convertible debt has surged over 200%, making it the best-performing debt instrument globally.

By leveraging Bitcoin's volatility, MicroStrategy borrows at zero rates, showcasing a revolutionary bond market strategy.

🔗 Watch it here!

CHARTS & DATA

$31,000 - Bitcoin’s realized price is growing slightly, and now sits at around $30,900.

$94,752 - Bitcoin’s price projection based on the stock to flow model.

Moving Averages - Bitcoin currently sits above its 200-day moving average, and is nearing the 50-day moving average.

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