🟠 BTC vs Google

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 Thursday to the 19,196 Minimalist members reading today. 👋 

Today we’re covering:

• BTC briefly passes Google market cap

• Bessent says no BTC buying for U.S. reserve

• Block launches new BTC miner

• And everything else you need to know.

Estimated read time: 2 minutes and 56 seconds

WHAT WE’RE WATCHING

🚀 Bitcoin briefly flips Google with $2.45T market cap. After hitting $124,457, BTC became the world’s fifth-largest asset, and helped push the total crypto market cap above $4.1T.

📉 Bessent rules out Bitcoin reserve buys, price drops below $119K. U.S. Treasury Secretary Scott Bessent said the government won’t purchase additional Bitcoin for its strategic reserve, triggering a drop from a $124K high. He confirmed existing seized holdings will be kept but not expanded through new acquisitions.

⚡ Samson Mow says BTC faces ‘Godzilla’ surge or altcoin drag. Samson Mow says BTC could either dominate and sink alts 30–40% or dip as “alt mania” peaks before rebounding. Ether’s 58% monthly gain, falling BTC dominance, and DeFi growth point to an intensifying ‘altseason’.

📊  PlanB says monthly RSI nears 75, echoing past pre-bull peaks. PlanB’s chart shows BTC trading above its 200-week and 2-year realized averages, tracking close to the $500K stock-to-flow projection for 2024–2028, hinting at potential RSI 80+ levels seen in prior major rallies.

💹 BTC’s market cap briefly passed $2.5 trillion during the ATH. The rally, driven by Trump’s pro-crypto policies, ETF inflows, and corporate stockpiling, mirrors gains in U.S. equities.

⚙️ Block & Jack Dorsey launch new Bitcoin miner called Proto Rig. The modular bitcoin mining system and free open-source fleet management software called Proto Fleet aim to cut hardware costs, enable quick repairs, and improve efficiency. Designed for durability, upgrades, and decentralization, they mark Block’s first full mining product releases.

📵 Google bans crypto wallets in 15 jurisdictions, adding strict licensing rules. The new Play Store policy forces both custodial and non-custodial wallet developers to meet MSB, AML, and KYC requirements, exceeding U.S. legal obligations and drawing sharp criticism from industry lawyers and regulators.

IN THE LOOP

• Bitwise CIO says unpriced catalysts like government Bitcoin buys, rate cuts, and rising ETF inflows could drive major gains.

• According to Willy Woo, BTC is near ~$123K, yet MVRV remains under 1, unlike past cycles where it topped 6.

• Bitcoin’s short-term holder SOPR briefly dipped below 1 then rebounded, a bullish sign in ongoing uptrends.

The most clicked link in our last newsletter was PlanB saying S&P 7,000 could coincide with Bitcoin hitting $300K, citing their strong historical correlation.

MACRO & INDUSTRY

• Rising US debt and M2 money supply growth could drive Bitcoin to $132,000 by late 2025.

• US banks warn the GENIUS Act could trigger $6.6T deposit shift to stablecoins.

POLL

TUESDAY’S POLL RESULTS

What is the highest price Bitcoin will hit by the end of 2027?

🟨⬜️⬜️⬜️⬜️ 💰 $150,000 (13%)

🟥⬜️⬜️⬜️⬜️ 💵 $200,000 (11%)

🟩🟩⬜️⬜️⬜️ 💎 $250,000 (17%)

🟩🟩⬜️⬜️⬜️ 🚀 $300,000 (17%)

🟨⬜️⬜️⬜️⬜️ 🪙 $400,000 (13%)

🟩🟩🟩⬜️⬜️ 🪐 $500,000+ (30%)

💰 $150,000: “150-200k range. Slow steady grind up. This is the way.” — Troy

💰 $150,000: “I believe the entry of institutional investors has altered Bitcoin’s bull market in this cycle, preventing a repeat of the extreme overvaluation seen in previous cycles.” — Emanuel

💰 $150,000: “It's the trough of the next bear cycle 😞” — Justin

💰 $150,000: “Step-by-step is the new bull run!” — Chuck

💰 $150,000: “Well it needs to drop for about a year and bore all the institutions.” — Max

💎 $250,000: “Each BTC post halving cycle peak took place almost exactly 21-mos. later, in either November, or December of the following year. The cycle price multipliers were 123X, 50X and 17X respectively. The 2024 cycle peak multiplier would then be approximately 3.56X, putting the target cycle peak price at $250K.” — Name

🚀 $300,000: “Conservative estimate 💥🥳💰” — Curtis

🪙 $400,000: “In the last 12 months the value of Bitcoin has doubled. I think it will do so every year, but also the demand for it will grow exponentially, so it is almost impossible to be less than $500k by the end of 2027.” — René

🪐 $500,000+: “No question - to the moon.” — Adam

🪐 $500,000+: “Because it should be there already.” — Dylan

🪐 $500,000+: “Adoption will exponentially accelerate.” — Zach

🪐 $500,000+: “It only just started!” — Ruth

VIDEO

💬 Bessent says U.S. won’t buy Bitcoin for reserves.

Treasury Secretary Scott Bessent clarified the U.S. has no plans to purchase Bitcoin, despite earlier speculation.

He acknowledged current U.S. Bitcoin reserves globally are valued between $15–$20 billion.

CHARTS & DATA

Drawdown from High - Bitcoin’s drawdown from its highs are much lower in this cycle compared to past cycles.

ETH vs BTC - Despite the USD price being high, ETH is not even one third of its high against BTC from back in 2017.

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