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🟠 BTC & Trump
MSTR buys more BTC & backtest calculator
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 19,685 Minimalist members reading today. 👋
Today we’re covering:
Trump media is set to launch a Bitcoin treasury strategy
MSTR buys more BTC (will this ever end?)
Bitbo launches new Bitcoin strategy backtest calculator
And everything else you need to know.
Estimated read time: 2 minutes and 58 seconds

We’re offering 30% off Bitbo Pro and our merch store thru Thursday:
📈 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

💰 Trump Media raises $2.5B to build a Bitcoin treasury. The funding includes $1.5B in common stock and $1B in convertible notes, marking one of the largest crypto treasury allocations by a public company. Crypto.com and Anchorage Digital will handle custody of the Bitcoin assets.
🟠 Bitbo is excited to launch our Bitcoin Strategy Backtest Calculator. This tool allows you to test indicators and their performance over time. You can also compare the returns of strategies against DCA and lump sum buying over the same period.
⚠️ BlackRock added a quantum computing warning to its Bitcoin ETF filing. The asset manager cautioned that future quantum tech could break Bitcoin’s cryptographic defenses, posing a long-term threat. It's the first direct mention of quantum risk from a major institution, signaling rising concern among top financial players.
⚡ Pakistan will allocate 2,000 MW of power for Bitcoin mining and AI data centers. Three underused coal plants will be repurposed, potentially generating 17,000 BTC annually. The move marks a major crypto push, despite IMF concerns over financial risks linked to state-led Bitcoin adoption.
📉 Strategy acquired 4,020 Bitcoin for $427M amid market volatility, boosting its total holdings to 580,250 BTC—about 2.7% of supply. Funded via equity sales, the firm has now invested $40.6B into Bitcoin at an average cost of $69,979 per coin.
🔒 Strategy rejects on-chain Proof-of-Reserves for its 580,000+ BTC holdings. Michael Saylor cited security and liability concerns at Bitcoin 2025, arguing public wallet disclosures create attack risks. Critics slammed the stance, calling it a red flag amid growing transparency norms post-FTX.
🚨 U.S. crypto investor John Woeltz has been charged with kidnapping and torturing an Italian man to steal his Bitcoin. The victim was held in a $30K/month NYC townhouse, beaten, and threatened before escaping. The case highlights rising physical attacks targeting crypto holders worldwide.
IN THE LOOP
Australian Senator Gerard Rennick called Bitcoin a Ponzi scheme driven by BlackRock and argued it produces nothing of real value.
Marathon’s Bitcoin mining revenue hit a record $752 million as BTC soared past $112,000.
The Bitcoin 2025 Conference kicks off today in Las Vegas with 30,000 attendees and key U.S. political figures.
The most clicked link in our last newsletter was about Bitcoin surpassing gold as the most widely held alternative asset in the U.S., according to River’s 2025 report.
MACRO & INDUSTRY

POLL
Are recent crypto physical attacks making you rethink your safety? |
THURSDAY’S POLL RESULTS
Will Bitcoin pass $200,000 in 2025?
🟩🟩🟩🟩⬜️ 🟢 Yes (70%)
🟥🟥⬜️⬜️⬜️ 🔴 No (30%)
🟢 Yes: “It’s moving fast and it’s getting closer every day.” — Mikey
🔴 No: “We need to start looking at Bitcoin for what it is, not what we want it to be. Exponential decay is real, and volume is decreasing. Like it or not, $200,000 is less than 1% chance.” — Nigel

CHARTS & DATA
Supply in profit - With Bitcoin near all-time highs, we’re now at 99.45% supply in profit.
Colored Mayer Multiple - Despite being near all-time highs, Bitcoin’s Mayer Multiple is still in the yellow zone.
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FROM THE ARCHIVE
Wow, it’s been almost exactly 8 years since the failed Segwit2X takeover of Bitcoin!
A group of companies tried to collude and take over Bitcoin, but failed.
Anyone else remember?
Back in May 2017, the New York Agreement proposed activating Segwit and doubling Bitcoin’s block size to 2 MB.
Backed by major companies but opposed by many users and developers, it failed due to lack of broad support, ultimately leading to the creation of Bitcoin Cash after a network split.
MORE FROM BITBO
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📈 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.