🟠 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 happening over the past couple days!

Happy Thursday to the 19,392 Minimalist members reading today. 👋 

Today we’re covering:

• White House omits Bitcoin reserve plan

• Saylor teases major announcement

• Coinbase partners with Chase

• And everything else you need to know.

Estimated read time: 2 minutes and 52 seconds

WHAT WE’RE WATCHING

🏦 Coinbase partners with Chase to expand Bitcoin access for 80M+ customers. Starting this fall, users can fund Coinbase with Chase credit cards. In 2026, they'll be able to convert Chase rewards points to USDC and directly link bank accounts for seamless Bitcoin & crypto purchases.

💬 Saylor teases major Bitcoin news ahead of Q2 earnings call. Saylor called today’s upcoming earnings call the firm’s “most important moment ever” as speculation builds. MicroStrategy now holds 628,791 BTC worth $74B after buying 21,000 BTC this week.

🇺🇸 Scott Bessent outlined Trump's crypto vision. In a recent Washington Post op-ed, Bessent proposes a regulatory overhaul and new stablecoin law (GENIUS Act). Bessent claims the administration’s goals include dollar-backed stablecoin adoption and blockchain integration.

📄 White House’s crypto report omits mention of a U.S. Bitcoin reserve. This is despite Trump’s January order mandating it. Officials say updates are coming “in short order,” while the Treasury continues work on the strategic Bitcoin stockpile outlined in a separate March executive order.

🏦 Trump administration confirms Strategic Bitcoin Reserve plans remain active. Digital assets chief Bo Hines said the U.S. is committed to accumulating BTC and building infrastructure for long-term Bitcoin accumulation. Hines claims "we want as much [BTC] as we can possibly get”.

IN THE LOOP

• Strategy completed a $2.5B IPO to buy 21,021 more bitcoins, raising its total holdings to nearly 629,000 BTC.

• US Treasury Secretary Scott Bessent shared a pro-Bitcoin video, saying “Crypto, welcome home.”

• Bitcoin has traded above $112K for only four weeks in its entire history.

• Bitcoin’s mining difficulty is projected to drop nearly 5% as network hashrate volatility persists.

The most clicked link in our last newsletter was Ray Dalio advising investors to allocate 15% of their portfolios to Bitcoin and gold, while warning that markets underestimate mounting U.S. fiscal risks.

MACRO & INDUSTRY

• The Federal Reserve held interest rates steady at 4.25%-4.5% despite internal dissent and Trump’s push for deep cuts.

• The chance of a September Fed rate cut dropped to 40%.

• El Salvador will help Bolivia develop crypto regulations.

POLL

TUESDAY’S POLL RESULTS

Has Bitcoin lost part of its original ethos with institutional adoption?

🟨⬜️⬜️⬜️⬜️ 🏦 Yes — Wall Street is taking over (19%)

🟨🟨⬜️⬜️⬜️ 🔗 No — Bitcoin’s foundation is intact (33%)

🟩🟩🟩⬜️⬜️ ⚖️ A bit — but trade-offs are inevitable (43%)

🟥⬜️⬜️⬜️⬜️ 🤷 Not sure / Don’t care (5%)

🏦 Yes — Wall Street is taking over: “Banksters have found BTC Achilles heel.” — Ben

🏦 Yes — Wall Street is taking over: “As tradfi enters the space, parts of the original cypherpunk ethos will diminish. Plebs - buy, buy, buy while you can still build up significant BTC holdings.” — Nathan

🤷 Not sure / Don’t care: “What others do with it doesn't change its value to me.” — Andrew

VIDEO

🪙 Brian Armstrong calls Bitcoin “the best form of money ever created,” citing its scarcity, portability, durability, and divisibility. 

In a recent interview, he compares Bitcoin to gold and traditional money forms, arguing that crypto solves key limitations of the barter system and legacy currencies.

• Check out a short clip here →

• Watch the full interview here →

CHARTS & DATA

50MARP Momentum - 50MARP Momentum has flipped red.

1YR+ HODL Wave - Bitcoin’s 1YR+ HODL wave continues to drop, and recently hit a new low below 61.5%.

FROM THE ARCHIVE

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