🟠 BTC Custody

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 19,645 Minimalist members reading today. 👋 

Today we’re covering:

• Metaplanet wants to own 1% of BTC

• Tether mining OS goes open-source

• Strategy adds 1,045 BTC to its stack

• And everything else you need to know.

Estimated read time: 2 minutes and 59 seconds

WHAT WE’RE WATCHING

📉 Michael Saylor says Apple should buy Bitcoin as its $110B stock buyback underperforms. Apple shares are down 17% in 2024, while Bitcoin is up 17%. Saylor’s push comes amid rising corporate BTC adoption by GameStop, Metaplanet, and The Blockchain Group.

🗝️ SEC Commissioner Paul Atkins backs self-custody of Bitcoin. He emphasized that self-custody is a core blockchain feature and a "foundational American value," arguing users should retain control over Bitcoin without unnecessary intermediaries or costs that hinder staking and on-chain activities.

💰 Metaplanet unveils a $5.4B plan to buy 210,000 BTC by 2027, aiming to hold 1% of total supply. The Tokyo-listed firm will issue 555M shares via moving strike warrants, boosting its role as a bitcoin treasury vehicle and expanding access to BTC in Japan’s equity markets.

⚖️ Bitcoin Core’s new transaction relay policy sparks backlash. Critics like Luke Dashjr say it enables spam and centralization, clashing with Bitcoin’s decentralized ideals. Bitcoin Core defends the policy as neutral and miner-aligned, exposing deep divisions over censorship, fee markets, and protocol control.

💴 Arthur Hayes says a Bank of Japan pivot to QE could spark a Bitcoin rally. As Japan weighs easing bond tightening at its June 16–17 meeting, rising yields and debt fears are pushing institutions toward BTC as a hedge against sovereign risk.

🏦 Strategy buys 1,045 BTC for $110.2M, boosting total holdings to 582,000 BTC—about 2.8% of Bitcoin’s supply. Funded via preferred stock sales, the firm continues aggressive accumulation under its expanded $84B "42/42" capital plan, pushing corporate adoption and maintaining over $21B in unrealized gains.

💸 KULR is seeking to raise $300M via an at-the-market stock offering to expand its Bitcoin treasury. The publicly traded firm currently holds 920 BTC worth nearly $100M and plans to use the funds to boost BTC holdings and working capital.

IN THE LOOP

• BlackRock’s Bitcoin ETF hit $70 billion in assets in 341 trading days, the fastest of any ETF in history.

• PlanB suggests Bitcoin could reach ~$130K if its RSI hits 75 again this month.

• Japan’s ANAP Holdings launched a full Bitcoin strategy aiming to hold over 1,000 BTC by August 2025.

The most clicked link in our last newsletter was PlanB saying Bitcoin is still in a bull market and likely just beginning a new bullish phase.

MACRO & INDUSTRY

• Trump says a decision on the next Fed chair will be announced soon and criticizes Powell for not cutting rates.

• Tether will open-source its Bitcoin mining OS by Q4 2025 to reduce reliance on third-party vendors.

• Tether CEO called a $515 billion valuation “a bit bearish” given its growing Bitcoin and gold reserves, and ruled out IPO plans.

• Australia charged four people in a $123 million crypto laundering scheme run through a security firm front.

POLL

THURSDAY’S POLL RESULTS

Does U.S. debt worry you, or does Bitcoin ease your mind?

🟨🟨⬜️⬜️⬜️ 🧨 Yes, the debt is a big concern (39%)

🟩🟩🟩⬜️⬜️ 🟠 Bitcoin gives me peace of mind (55%)

🟥⬜️⬜️⬜️⬜️ 🤔 Other or unsure (Comment) (6%)

🧨 Yes, the debt is a big concern: “Big government is out of control!” — Sam

🟠 Bitcoin gives me peace of mind: “I think President Trump has had this planned for some time. And realized a long time ago with all the other smart people he infuses himself with, that BTC is the only answer to the nation’s debt. And all of us that have at least some will have a lot.” — Leo

🟠 Bitcoin gives me peace of mind: “Bitcoin is the answer to a devalued dollar.” — Simon

🟠 Bitcoin gives me peace of mind: “BTC is the parachute.” — Chris

🤔 Other or unsure: “The dollar gets weaker by the day and if I were an American I would change my dollars into Bitcoin very fast. We don’t need Trump for Bitcoin, even more, Trump is the reason for Bitcoin not growing even higher at this moment due to his idiotic tariffs.” — René

VIDEO

Michael Saylor was recently interviewed on Jordan Peterson’s podcast.

Saylor reveals how a 2020 crisis led him to pivot MicroStrategy’s $500M cash reserve into Bitcoin.

Frustrated by low growth, inflation, and currency devaluation, Saylor embraced Bitcoin as a mathematically sound, decentralized “digital gold” and a defense against economic decay.

Watch Saylor’s full interview with Jordan Peterson here:

CHARTS & DATA

Power Law - The Bitcoin price (yellow) is still following the power law price projection (green) very closely.

Cup & handle - Bitcoin has formed a massive cup and handle on the daily chart. This pattern has a target of around $140,000.

FROM THE ARCHIVE

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