🟠 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.

Happy Tuesday to the 19,671 Minimalist members reading today. 👋 

Today we’re covering:

• US may grow BTC reserve using tariffs

• Panama City to accept Bitcoin

• No audit confirms US BTC holdings

• And everything else you need to know.

Estimated read time: 2 minutes and 57 seconds

WHAT WE’RE WATCHING

🇺🇸 The US is exploring “countless” ways to grow its Bitcoin reserve without using taxpayer funds, says crypto council chief Bo Hines. Options include tariff revenues and revaluing gold certificates. The reserve will start with seized assets, alongside a coming crypto policy framework.

💰 A 1M BTC purchase by the US could push Bitcoin to $1 million, says the Bitcoin Policy Institute. Execs suggest using tariff revenue and asset sales as budget-neutral strategies to grow reserves, aligning with Trump’s vision of making the US a “Bitcoin superpower.”

📉 Bitcoin fell 1.5% to $83.7K as Fed Chair Jerome Powell struck a cautious tone on rate cuts, citing inflation risks from Trump’s tariffs. Investors fear the Fed is falling behind as Powell repeated it's “too soon to say” how policy will shift. Markets now expect up to four rate cuts in 2025.

🕵️‍♂️ Despite repeated claims that the U.S. holds around 200,000 BTC, no official audit has confirmed this figure. The April 5 deadline for federal agencies to disclose Bitcoin holdings passed with silence, fueling online skepticism. Some suggest actual holdings may be far lower, especially after 94,643 BTC were ordered returned to Bitfinex.

⚠️ Experts call a Harvard-led study on Bitcoin mining "deeply flawed." The paper claims mining polluted air for 1.9M Americans, but critics say it used selective data, unreliable methods, and ignored peer-reviewed research showing Bitcoin’s potential environmental benefits.

💬 Gary Gensler says most altcoins will fade due to weak fundamentals and hype-driven value. In contrast, he compares Bitcoin to precious metals, citing its global appeal and staying power as reasons it will likely endure long term.

🌍 Binance is advising governments on Bitcoin reserves and crypto policy, CEO Richard Teng said. Driven by U.S. leadership in digital asset strategy, several countries have approached Binance for help in setting up strategic crypto reserves and regulations, though no specific nations were named.

IN THE LOOP

• Panama City will now accept Bitcoin and other cryptocurrencies for taxes, fees, and permits.

• Project Eleven is offering 1 BTC to anyone who can break Bitcoin’s cryptography.

• Semler Scientific plans to raise $500 million to expand its Bitcoin holdings despite a 5% unrealized loss and a pending $29.75 million DOJ settlement.

• Metaplanet bought 319 more BTC and aims to reach 10,000 BTC by the end of 2025.

• Xapo Bank saw a surge in Bitcoin trading as wealthy clients bought the dip.

• PlanB shows Bitcoin's historical price performance relative to halvings, highlighting that we are currently 7 months into the typical bullish halving window with 7 months to go.

The most clicked link in our last newsletter was about a Bitcoin user who accidentally paid $60K in fees due to a replace-by-fee mistake.

MACRO & INDUSTRY

• CleanSpark will sell mined Bitcoin monthly and use a $200M credit line from Coinbase to become financially self-sufficient.

• Coinbase Institutional warns that multiple signals point to a looming crypto winter, though a market rebound could begin in Q3.

• Fed Chair Jerome Powell signaled a potential loosening of crypto rules for banks as digital assets become more mainstream.

POLL

THURSDAY’S POLL RESULTS

Do you have anxiety when sending Bitcoin transactions?

🟩🟩🟩⬜️⬜️ 👍 Yes (55%)

🟨⬜️⬜️⬜️⬜️ 👎 No (22%)

🟨⬜️⬜️⬜️⬜️ ⚖️ Depends on amount (23%)

👍 Yes: “Every time. No matter how much I check the address.” — Julia

👎 No: “Study up lads.” — Liam

VIDEO

🍌 Bitcoin is in a 32% pullback phase, but still within its “banana zone” — the parabolic price discovery stage following new all-time highs, according to Rekt Capital.

Historical patterns show similar corrections before further uptrends.

Watch the complete breakdown here:

CHARTS & DATA

Difficulty - Bitcoin mining difficulty hit an all-time high of 122T. Despite Bitcoin’s falling price, miners are not slowing down.

Stock to flow - Bitcoin had started tracking the stock to flow projection this cycle, but has since leveled off.

FROM THE ARCHIVE

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