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Musk backs BTC & 80,000 BTC move
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 19,228 Minimalist members reading today. 👋
Today we’re covering:
Musk’s America party backs Bitcoin
Strategy pauses Bitcoin buying
Bill Miller IV opposes Bitcoin taxes
And everything else you need to know.
Estimated read time: 2 minutes and 59 seconds
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WHAT WE’RE WATCHING
📊 Bitcoin’s Bollinger Bands hit their tightest level in a year, signaling imminent volatility. Analysts and creator John Bollinger expect an upside breakout, citing ETF demand, bullish onchain metrics, and macro tailwinds as supporting factors for continued upward momentum.
🇺🇸 Elon Musk’s America Party will support Bitcoin. Musk called fiat “hopeless” and aiming to appeal to tech-savvy voters Tesla still hasn’t resumed Bitcoin payments despite greener mining, and critics question whether Musk’s pro-Bitcoin stance is genuine or just political opportunism.
💰 An $8.6B Bitcoin transfer from 14-year-dormant wallets sparked debate over its cause. Arkham calls it a simple wallet upgrade, while others speculate on a government settlement, hack, or Roger Ver’s involvement. The move didn’t impact Bitcoin’s price, adding to the mystery.
📶 Jack Dorsey built a Bluetooth messaging app called Bitchat. The app enables encrypted, offline chats via mesh networks with up to 300m range. Similar to Bridgefy, it’s useful where internet is unavailable. Bitchat’s 10,000-user beta on TestFlight is already full as it awaits review.
💰 Ego Death Capital closed a $100M fund to back bitcoin-focused software companies. Targeting Series A rounds, it invests in revenue-generating firms building on bitcoin, not tokens or mining. Early bets include Roxom, Relai, and Breez, with funding from bitcoin-aligned family offices.
IN THE LOOP
Strategy paused bitcoin purchases after Q2 results.
Drake name-dropped Bitcoin in a new song.
Max Keiser predicted Bitcoin hitting $200K will spark a global financial revolution and destabilize the US dollar at $300K.
Murano launched a bitcoin treasury strategy with a $500M equity deal.
Strategy launched a $4.2B stock sale to fund more purchases.
The most clicked link in our last newsletter was about a $500 Casascius bar from 2012 was redeemed for over $10 million.
MACRO & INDUSTRY

POLL
THURSDAY’S POLL RESULTS
Corporations holding whale-size Bitcoin reserves are:
🟩🟩🟩⬜️⬜️ 🚀 Major adoption catalyst for BTC (54%)
🟨⬜️⬜️⬜️⬜️ 💣 Ticking sell-off time bomb risk (23%)
🟨⬜️⬜️⬜️⬜️ 🧊 Stabilizes market, smooths volatility (23%)
🚀 Major adoption catalyst for BTC: “This is the easy entry point for any BTC-curious investor to get some skin in the game with committed and serious BTC Treasury Companies.” — Brandon
💣 Ticking sell-off time bomb risk: “Some companies will go bust. How systemic will that risk be? Could cause some volatility, self custody is the way.” — Josh
💣 Ticking sell-off time bomb risk: “It'll be interesting to see how the BTC treasury companies hold up in the next down cycle.” — Jeremy
💣 Ticking sell-off time bomb risk: “Speculation fervor tends to spark draw-downs.” — Nick

VIDEO
Bitcoin OG Trace Mayer, who purchased Bitcoin at $0.25, is back online after many years.
He recently did an interview with Bitcoin Magazine.
In this interview, he reflects on Bitcoin’s journey, institutionalization, block size wars, proof-of-keys, and its role in a new monetary order — asserting it’s “on the planet now probably forever.”
Watch the full interview here:
CHARTS & DATA
VDD Multiple - VDD Multiple spiked due to the 80,000 Bitcoin whale moving their coins. Be sure to track this, as it may push VDD higher than in the past.
1YR+ HODL Wave - The 1YR+ HODL Wave dipped 0.4% after the 80,000 BTC whale moved its BTC on-chain.
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FROM THE ARCHIVE
The halving cut Bitcoin’s inflation rate and sparked a historic bull run.
From July 2016’s $664 to December 2017’s $19,000, the rally still shapes today’s halving narratives as we look toward 2028.
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