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- 🟠 BTC Nears $72K
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.
Writing this as we approach $72,000!
Happy Tuesday to the 16,883 Minimalist members reading today. 👋
Today we’re covering:
Bitcoin nears $72,000
Hardware wallet sale
Tether boosts reserves to 82,454 BTC
And everything else you need to know.
Estimated read time: 2 minutes and 58 seconds
View Bitbo’s FREE Bitcoin price prediction chart.
Check what different models project for Bitcoin’s price.
WHAT WE’RE WATCHING
Bitcoin is up around 5% over the last 24 hours.
🚀 Bitcoin surged above $71,000, rising 5% in 24 hours with $48 billion in trading volume, driven by whale activity and Bitcoin ETF inflows. Over $143 million in short positions were liquidated, intensifying the price spike. Traders anticipate bullish momentum regardless of the U.S. election outcome.
🌪️ Bitfinex analysts predict a “perfect storm” could push Bitcoin to a new all-time high following the U.S. election. Factors include election uncertainty, bullish Q4 market conditions, and the rising "Trump trade" narrative.
💬 Michael Saylor reaffirmed his support for Bitcoin self-custody after backlash over promoting regulated custodians. He clarified that while self-custody is ideal for some, individuals and institutions should have the freedom to choose. Criticism came from figures like Vitalik Buterin, who warned about regulatory risks in centralized options.
📜 Pennsylvania has passed the “Bitcoin Rights” bill with a 176-26 bipartisan vote. The bill allows residents to self-custody Bitcoin, use it for payments, and establishes tax guidelines.
📈 PlanB predicts Bitcoin's price will increase by an order of magnitude in the 18 months after a halving. His calculation is based on the historical Stock-to-Flow model. The graph highlights Bitcoin's past post-halving surges, with price movements reflected by colored dots.
🇧🇹 Bhutan's government moved $66 million worth of Bitcoin to Binance. The transfer suggests potential selling, adding pressure to Bitcoin’s price. Bhutan still holds around $886 million in Bitcoin, accumulated through mining over the past five years.
⏰ The NYSE plans to extend Bitcoin ETF trading hours to 22 hours daily, aiming to meet global demand and improve market accessibility. The proposed schedule, pending SEC approval, would run from 1:30 a.m. to 11:30 p.m. ET, enhancing liquidity for international investors.
🎉 Bitcoin hardware wallet makers will launch a "6102 Sale" on April 5, 2025, honoring financial sovereignty. The date commemorates Executive Order 6102, which restricted gold ownership in 1933, and Satoshi Nakamoto's birthday. Companies like COLDCARD, Blockstream Jade, and Trezor are participating, offering discounts or special gifts.
IN THE LOOP
Microsoft shareholders will vote in December on a proposal to assess Bitcoin investments.
Emory University holds $15.1 million in Grayscale Bitcoin Mini Trust shares and over $768,000 in Coinbase shares.
Trump proposed replacing federal income tax with tariffs on imports.
Republican Senate candidate Bernie Moreno sold his Bitcoin amid $40 million in PAC support for his campaign.
Metaplanet increased its Bitcoin holdings to 1,018 BTC after a $10.4 million investment.
Tether boosted USDT reserves to 82,454 BTC and 42.3 tons of gold.
POLL
Where do you think Bitcoin's price will head next after crossing $71,000? |
WEDNESDAY’S POLL RESULTS
Would you consider River’s 3.8% interest in Bitcoin an attractive option for any USD that you own?
💼💼 Absolutely - 46%
🧐 I need more information - 25%
🚫 No, not interested - 29%
💼 Absolutely - “If the yield were 4.5 I would definitely do it.” - Jim
🧐 I need more information - “Bitcoin is finite, paying back interest in Bitcoin is not sustainable.” - Dave
🚫 No, not interested - “I get higher returns on my Apple Savings account.” - Bob
🚫 No, not interested - “Prefer MSTR options as a better income play” - Chris
VIDEO
VanEck claims that three new BRICS members are mining Bitcoin with government resources: the UAE, Argentina, and Ethiopia.
Russia's Sovereign Wealth Fund is investing in Bitcoin mining across BRICS, aiming to use Bitcoin for global trade settlement. This comes as BRICS GDP surpasses that of the G7.
CHARTS & DATA
All time high - Bitcoin is only around 3% away from reach its previous all-time high.
Supply in Profit - Over 99% of Bitcoin holders are in profit after this latest price increase.
FROM THE ARCHIVE
Bitcoin down to $2.70 a pop. So glad i didn't buy in on that mess.
— Nick Allen (@NickAllen)
5:27 PM • Oct 25, 2011
A famous tweet from 13 years ago.
Since then, Bitcoin is up more than 2,500,000%!
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