🟠 BTC & Google

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 20,003 Minimalist members reading today. 👋 

Today we’re covering:

• Tether & SoftBank launch $3.6B BTC firm

• Bitcoin tracks global M2 with lag

• ETFs see biggest inflows since January

• And everything else you need to know.

Estimated read time: 2 minutes and 57 seconds

WHAT WE’RE WATCHING

💰 Bitcoin briefly surpassed Google with a $1.87T market cap, becoming the fifth most valuable asset globally. Though the flip was short-lived, it sparked renewed debate on Bitcoin's institutional role. A $912.7M ETF inflow and macroeconomic shifts fueled the surge above $94K.

🏦 Cantor Fitzgerald, Tether, SoftBank, and Bitfinex are forming 21 Capital, a $3B Bitcoin investment firm. The venture, led by Strike’s Jack Mallers, will convert $3B in BTC into equity and aims to go public. It’s backed by major contributions from Tether ($1.5B), SoftBank ($900M), and Bitfinex ($600M).

💹 Bitcoin's price loosely tracks global M2 money supply with a 90-day lag, but the link is elastic. A 2% M2 rise since Sept. 2024 coincided with a 70% BTC surge, showing amplified, inconsistent responses. ETF flows and crypto-native dynamics often distort traditional macro signals.

🚀 Jack Mallers will lead Twenty One Capital, a $3.6B Bitcoin venture backed by Tether, SoftBank, and Cantor Fitzgerald. Launching via SPAC, it will debut with 42,000 BTC—making it the third-largest public BTC treasury. The firm aims to build Bitcoin-native financial products and expand institutional access.

📉 Bitcoin rebounded to $85K in Week 16, but market signals remain weak, according to Glassnode. Liquidity is thin, ETF flows are cautious, and on-chain activity is near multi-quarter lows. Despite a slight uptick in profitability, realized losses dominate, and sustained recovery hinges on fresh capital inflows.

👑 Serbia’s Prince Filip claims Bitcoin is being deliberately suppressed by market forces. In an interview, he predicted an eventual breakout marked by “omega candles” — massive $100K daily price moves — driven by Bitcoin’s deflationary nature and distrust in traditional finance.

IN THE LOOP

• Michael Saylor and others say new SEC Chair Paul Atkins will be good for Bitcoin and crypto policy.

• Riot Platforms secured a $100 million Bitcoin-backed loan from Coinbase.

• Kuwait has banned Bitcoin mining.

• Bitcoin ETFs saw their biggest inflows since January.

• Metaplanet hit 5,000 BTC as corporate and institutional bitcoin accumulation accelerates globally.

The most-clicked link in our last newsletter was about the Bitcoin Policy Institute’s claim that a 1M BTC purchase by the U.S. could drive Bitcoin to $1M—supporting Trump’s vision of America as a “Bitcoin superpower.”

MACRO & INDUSTRY

• Russia’s Finance Ministry & Central Bank will launch a crypto exchange for elite “super-qualified investors”.

• Tesla missed Q1 revenue targets but continues to hold 11,509 BTC.

• U.S. Treasury Secretary Scott Bessent urged the IMF and World Bank to refocus on trade imbalances and currency stability amid growing global monetary shifts.

• A U.S. judge transferred a Binance lawsuit to Florida.

POLL

THURSDAY’S POLL RESULTS

How are you feeling about the current Bitcoin market?

🟩🟩⬜️⬜️⬜️ 😐 Impatient - it should be going up! (36%)

🟩🟩⬜️⬜️⬜️ 🤩 Great, just stacking more sats (49%)

🟥⬜️⬜️⬜️⬜️ 🥶 Bearish - Feels like a new bear market (4%)

🟥⬜️⬜️⬜️⬜️ 🧪 Waiting for clarity - Too much regulatory fog (11%)

🤩 Great, just stacking more sats: “I love this "Marshmallow Experiment" cycle!” — James

🤩 Great, just stacking more sats: “There has been no change to the protocol. Cheap sats for the plebs. There is paper corn out there. Not your keys. Not your cheese.” — Sam

🤩 Great, just stacking more sats: “Just tuning out the noise and consistently stacking sats and MSTR.” - Chris

CHARTS & DATA

Power Law - Despite recent gains, Bitcoin is still far below the power law price projection.

Death Cross - Bitcoin ended up having a death cross on the daily chart. Despite this usually being a bearish indicator, Bitcoin has often rebounded strong after death crosses like it did this time.

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