🟠 BTC Congressman

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 20,834 Minimalist members reading today. 👋 

Today we’re covering:

• Trump admin wants to stack a lot of bitcoin

• Congressman is early Bitcoin holder

• South Korea rejects Bitcoin as a reserve asset

• And everything else you need to know.

Estimated read time: 2 minutes and 58 seconds

WHAT WE’RE WATCHING

🇺🇸 The Trump administration aims to acquire as much Bitcoin as possible, according to a White House official. The administration supports creating a Strategic Bitcoin Reserve, potentially through the Bitcoin Act, which proposes buying up to 1 million BTC ($80B) without taxpayer cost, relying on Fed gold reevaluation.

📊 MicroStrategy acquired 130 more BTC for $10.7 million at an average price of $82,981 per BTC. The company now holds 499,226 BTC, purchased for a total of $33.1 billion. The latest buy was funded by selling 123,000 shares of STRK stock.

🇰🇷 South Korea rejects Bitcoin as a reserve asset. The Bank of Korea ruled out holding BTC in its foreign exchange reserves, citing price instability and failure to meet IMF liquidity and risk management standards. Despite this, South Korea remains a major crypto hub. Stay updated on global Bitcoin adoption.

📊 Bitcoin ETFs saw $274.6 million in inflows on March 17, the largest single-day gain in 41 days. Fidelity led with $127.28 million, while BlackRock and ARK Invest also saw strong inflows. Analysts caution that one strong day doesn’t confirm a trend, with institutional investors possibly driving the movement.

🇺🇸 Congressman Nick Begich (R-AK), who introduced The BITCOIN Act, is a long-time Bitcoin holder. He proposes the U.S. acquire 1 million BTC as a strategic reserve. The bill also protects citizens’ right to self-custody. Begich argues Bitcoin provides financial security against government overspending and supports transparency through proof-of-reserves.

📈 Michael Saylor’s Strategy plans to issue 5 million shares to buy more Bitcoin. The stock will offer a 10% annual dividend, with payouts starting June 30, 2025. Strategy’s Bitcoin holdings near 500,000 BTC, solidifying its position as the largest corporate Bitcoin holder despite recent market fluctuations.

🏦 Xapo Bank launched bitcoin-backed USD loans of up to $1 million, offering flexible repayment terms. Unlike collapsed lenders Celsius and BlockFi, Xapo operates as a fully licensed bank, aiming to restore trust in crypto-backed lending while allowing users to access liquidity without selling their bitcoin.

IN THE LOOP

• Thai authorities seized 63 illegal Bitcoin mining rigs that stole over $327,000 in electricity and traced the operation to a luxury home in Bangkok.

• Brazil proposed a bill to regulate Bitcoin salary payments, allowing up to 50% of wages in crypto while requiring the rest in Brazilian real.

• Elon Musk claims the U.S. government has 14 "magic money computers" that create money out of thin air.

The most clicked link in our last newsletter was a solo Bitcoin miner winning a $263,000 block reward despite having a 1-in-a-million chance.

MACRO & INDUSTRY

• Polymarket bettors believe there's a 100% chance the Federal Reserve will end quantitative tightening before May.

• Robinhood partnered with Kalshi to launch a regulated prediction market hub for event-driven contract trading.

POLL

THURSDAY’S POLL RESULTS

Why is the Bitcoin price down from its all-time high?

🟨⬜️⬜️⬜️⬜️ 🏛️ Trump hype fading (11%)

🟩🟩🟩⬜️⬜️ 📉 General market pullback (55%)

🟨🟨⬜️⬜️⬜️ 🚫 Trump's economic policies (29%)

🟥⬜️⬜️⬜️⬜️ 🤔 Other (5%)

📉 General market pullback: “Markets hate uncertainty. It's not that Trump's policies are negative re: the public good, but they are uncommon. ” — Connor

📉 General market pullback: “Cheap sats. Stack them while you can. It's just noise.” — Ian

🤔 Other: “People don’t understand that BTC is digitally robust. Low-time preference & patience is key. Human psychology & emotions block logical human decision-making skills. These factors are in play. Buy now before it’s too late!” — Alex

🤔 Other: “#1, #2 and #3...” Chris

VIDEO

📺 Fox News spotlights Bitcoin on "My View." 

Lara Trump hosted a Bitcoin-focused episode featuring Michael Saylor and others, discussing U.S. Bitcoin strategy, its role as digital gold, and the push to make America a Bitcoin leader.

The segment emphasized holding Bitcoin and integrating it into mainstream finance.

Check out the clip here:

CHARTS & DATA

MVRV - Bitcoin’s MVRV is dropping quickly, and now stands at just 1.88.

Pi Cycle Top Estimate - With the current moving averages as they are, Pi Cycle Top is not expected to happen.

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