- Bitcoin Minimalist
- Posts
- 🟠 BTC Reserve
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.
A lot to catch up on as yesterday was a massive news day.
Happy Thursday to the 19,645 Minimalist members reading today. 👋
Today we’re covering:
GameStop buys $500M in Bitcoin
Eric Adams pushes NYC Bitcoin bonds
Saylor: Mortgage Mar-a-Lago for BTC
And everything else you need to know.
Estimated read time: 3 minutes and 13 seconds
We’re offering 30% off Bitbo Pro & our store.
Less than 13 hours left!
📈 Bitbo Pro - 30% off with code ATH25
👕 Bitbo merch store - 30% off with code ATH25
*Offer is available for annual plans. The promotion is valid through Thursday, May 29th at 11:59 PM EST.
WHAT WE’RE WATCHING
🇵🇰 Pakistan is set to create a Bitcoin reserve. Minister Bilal Bin Saqib announced the reserve at Bitcoin 2025, vowing never to sell the holdings. Bin Saqib claimed that the government’s decision was inspired by the U.S. government’s planned Bitcoin reserve.
🎮 GameStop buys 4,710 BTC worth over $500M. Approved by its board in March, the purchase marks a strategic shift as Bitcoin gains political and institutional backing. The stock rose 2.6% following the news and has surged 84% over the past year.
🇺🇸 Trump backs bill to buy 1M BTC over five years, says Senator Lummis. The BITCOIN Act, reintroduced by Lummis, aims to fund purchases via the Fed and Treasury without taxpayer impact. The White House is also advancing legislation on stablecoins and digital asset market structure.
📉 DOL rescinds Biden-era guidance discouraging crypto in 401(k)s. Labor Secretary Chavez-DeRemer said the old policy unfairly biased against crypto, and fiduciaries—not bureaucrats—should decide investment options. The department now takes a neutral stance amid growing federal support for digital assets under the Trump administration.
🟠 Bitbo launches a chart tracking U.S. gas prices in BTC. The tool divides average U.S. gas prices by Bitcoin's price, showing the cost of fuel in satoshis.
IN THE LOOP
NYC Mayor Eric Adams speaking yesterday @ Bitcoin Conference 2025.
NYC Mayor Eric Adams pledged to “push and fight” for Bitcoin-backed bonds and called for ending the state’s restrictive BitLicense.
El Salvador will receive $120 million from the IMF under a deal requiring limits on Bitcoin activity, but the country continues to buy more BTC.
Adam Back compared selling Bitcoin to playing in a “bad house-rate casino.”
A Coinbase data breach in May 2025 exposed personal and account details of over 69,000 users after insider leaks and an attempted $20M extortion.
Jack Dorsey’s Block will roll out Bitcoin payments via Square by 2026, letting merchants hold BTC or convert it to fiat instantly.
Michael Saylor told Eric Trump to mortgage Mar-a-Lago and “go long Bitcoin” with $2 billion.
The most clicked link in our last newsletter was Trump Media raising $2.5B to build one of the largest Bitcoin treasuries by a public company.
MACRO & INDUSTRY
Strategy has slowed its Bitcoin purchases as its stock premium drops and competition in corporate Bitcoin adoption rises.
JD Vance declared Operation Chokepoint 2.0 “dead” and pledged clear pro-crypto legislation under the Trump administration.
BlackRock plans to acquire a 10% stake in Circle’s IPO, deepening its ties to the USDC stablecoin issuer.
POLL
🗓️ What’s the biggest event in crypto over the past few days? |
TUESDAY’S POLL RESULTS
Are recent crypto physical attacks making you rethink your safety?
🟩🟩⬜️⬜️⬜️ 🕶️ Not worried (45%)
🟩🟩⬜️⬜️⬜️ 👀 A bit cautious (45%)
🟨⬜️⬜️⬜️⬜️ 🏃 Worried, taking action (10%)
🕶️ Not worried: “Rule 1 about Bitcoin.” — Patrick
🕶️ Not worried: “I would be worried if I had any volume.” — Charlie
🏃 Worried, taking action: “I live in a third world country so it is definitely making me think.” — Tom
VIDEO
Saylor cites security risks and audit reliability.
Critics argue it contradicts Bitcoin’s “verify, don’t trust” ethos and transparency claims.
While MSTR's holdings aren't public, third-party analysts have tracked over 437,000 BTC—out of a reported 580,000 BTC—likely held at Coinbase Custody.
Watch the full breakdown here:
CHARTS & DATA
Stock to flow - Bitcoin is not near the projected stock to flow price. One interesting note is that for the 4th time in a row, Bitcoin is at all-time highs during the yellow phase of the cycle. The yellow color indicates around 3 years until the next halving.
MVRV - Bitcoin is near an all-time high. MVRV, however, is not as high as it was during the previous two all-time high peaks this cycle.
|
FROM THE ARCHIVE
In a wide-ranging keynote, he pledged to make the U.S. the “crypto capital of the world,” promised to fire SEC Chair Gary Gensler, end Operation Chokepoint 2.0, and block any creation of a U.S. central bank digital currency (CBDC).
So far, most of that does seem to be happening.
MORE FROM BITBO
The Bitcoin Minimalist is run by Bitbo. Browse our most popular pages across our sites:
📊 Bitbo Pro: Analytics & intelligence to supercharge your Bitcoin investing & trading.
📈 Bitbo Charts: Useful Bitcoin charts, featuring on-chain metrics and other Bitcoin analysis.
👕 Bitbo Store: Shirts, hats, hoodies, mugs, and other merch for Bitcoiners.
🎛️ Bitbo Dashboard: View live price action, monitor on-chain data, and track key economic indicators - all for free.