🟠 BTC Consolidation

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.

Is everyone enjoying the quiet as $100K Bitcoin becomes normalized?

Happy Tuesday to the 18,278 Minimalist members reading today. 👋 

Today we’re covering:

• US Treasury calls Bitcoin "digital gold"

• MicroStrategy now holds 423,650 BTC

• PlanB predicts $1 million BTC

• And everything else you need to know.

Estimated read time: 2 minutes and 59 seconds

WHAT WE’RE WATCHING

💸 [VIDEO] Eric Trump, Donald Trump’s son, stated “I am confident that Bitcoin is going to hit $1 million.” He emphasized the inefficiencies of traditional banking.

💰 The US Treasury officially called Bitcoin “digital gold” in its FY 2024 Q4 report, acknowledging its role as a store of value in DeFi. The report highlights Bitcoin’s $2 trillion market cap and its impact on traditional finance. Stablecoins, meanwhile, are driving demand for US Treasuries.

🏭 Bitmain launches a U.S. production line to mitigate supply chain issues and address trade tensions. The move ensures faster delivery of Antminer S21 Pro units, bypasses delays linked to Chinese supply chains.

💼 The National Center for Public Policy urged Amazon to adopt a Bitcoin treasury strategy. They proposed Amazon allocate 5% of $88 billion cash to BTC. The group highlighted Bitcoin's 1,246% five-year growth, contrasting it with corporate bonds, and cited MicroStrategy's success as inspiration.

📉 MicroStrategy buys 21,550 BTC for $2.1B, increasing its total holdings to 423,650 BTC valued at $42B. Is this even news anymore? The money used was funded through a $5.4M stock sale. MSTR has acquired its bitcoin at an average cost of $60,324 per Bitcoin.

🚀 Paul Manafort, Trump’s former campaign chairman, predicts Bitcoin will surpass $100K. He hinted at even higher milestones ahead: “To those celebrating $100K #Bitcoin, you are going to be celebrating much higher.”

📜 Mark Mason argues that Trump should eliminate capital gains tax on Bitcoin. Mason claims this would boost U.S. innovation and financial sovereignty. 

IN THE LOOP

• Riot Platforms plans a $500M convertible notes offering to fund Bitcoin purchases.

• El Salvador will amend its Bitcoin law to make its use optional, rather than required.

• Former Binance CEO Changpeng Zhao predicts China will eventually establish a Bitcoin reserve.

• Mark Yusko predicts Bitcoin could reach $120,000-$150,000 before a mid-2025 bear market.

• Bitcoin miner MARA acquired 11,774 BTC for $1.1 billion, raising its holdings to 40,435 BTC.

• Larry Summers criticized proposals for a national Bitcoin reserve as "crazy" and driven by special interests.

• A Russian lawmaker proposed a national Bitcoin reserve to mitigate sanctions and bolster financial stability.

The most clicked link in our last newsletter was Bitcoin analytics Willy Woo breaking a 3-year silence to discuss Bitcoin’s scarcity, current price, and its global reserve potential.

POLL

THURSDAY’S POLL RESULTS

What’s your strategy for this Bitcoin bull run?

💎💎💎 Hold & never sell - 64%

📈📈 Take profits along the way - 28%

🤷‍♀️ Haven’t decided yet - 8%

💎 Hold & never sell - “Unless it reaches a $1M :-)” - Jerry

💎 Hold & never sell - “HODL HODL. Bitcoin maxi.” - Michael

📈 Take profits along the way - “Take profits, but never letting holdings fall below cumulative purchases.” - Sean

📈 Take profits along the way - “Always sell into rallies.” - Mark

VIDEO

📊 Plan B predicts Bitcoin hitting $1M in this cycle.

The Bitcoin analyst and stock to flow model creator, alongside Scott Melker, discusses Bitcoin's trajectory, fueled by institutional adoption, national interest, and shifting global economics.

CHARTS & DATA

Power law - Bitcoin’s deviation against the power law is in a very normal zone. Red zones indicate when the price has been too extended above the power law projection.

VDD Multiple - VDD multiple is rising fast (2.29), but still hasn’t reached the red zone like the March 2024 ETF high.

FROM THE ARCHIVE

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