🟠 BTC Sats

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 19,726 Minimalist members reading today. 👋 

Today we’re covering:

• Strategy now holds 576,230 BTC

• Coinbase breach exposed user addresses

• JPMorgan allows Bitcoin ETF access

• And everything else you need to know.

Estimated read time: 2 minutes and 59 seconds

WHAT WE’RE WATCHING

🏦 JPMorgan now allows clients to invest in Bitcoin ETFs, ending its ban on advisor pitches. CEO Jamie Dimon confirmed the policy shift but reiterated he's "not a fan" of Bitcoin. The bank won’t custody Bitcoin, marking a cautious entry compared to rivals like Goldman and Morgan Stanley.

💰 Strategy (MSTR) acquired 7,390 BTC for $764.9M, averaging $103,498 per coin. Funded via stock offerings, this brings its total holdings to 576,230 BTC—now worth around $59B. The firm's average purchase price across all holdings is $69,726 per bitcoin.

🔁 A proposal to replace satoshis with “bits” as Bitcoin’s base unit has reignited debate. Backed by Jack Dorsey, BIP-177 aims to simplify usage, but critics argue sats are no more confusing than cents. Opponents warn the shift could cause misunderstanding about Bitcoin’s price and supply.
Our take: “Cents are so confusing for people getting into dollars!”

🛡️ Coinbase data breach exposed home addresses and account info of under 1% of users, risking physical harm. TechCrunch founder Michael Arrington warned the leak could lead to deaths, as crypto-related violence rises. Hackers bribed offshore contractors to access internal systems, sparking $400M in potential liabilities.

📊 A new chart from PlanB suggests a strong logarithmic correlation (R² = 0.873) between the S&P 500 (SPX) and Bitcoin (BTC). According to the model, if SPX reaches $7,000, BTC should be near $300,000. The magenta dot marks this projected point on the trend line.

💼 [JOB] Sazmining is hiring a Senior Accountant to manage financial data, reporting, and compliance. The remote role requires 5+ years’ experience, strong GAAP knowledge, and advanced Excel skills. Candidates should align with company values like integrity and continuous learning while supporting Bitcoin mining using carbon-free energy.

IN THE LOOP

• Panama City is considering creating a bitcoin reserve.

• Metaplanet bought 1,004 Bitcoin for $104.6 million, bringing its total holdings to 7,800 BTC.

• El Salvador’s bitcoin holdings have reached over $357 million in unrealized profit.

• Bitcoin transaction fees hit their highest level of 2025.

• DigiAsia plans to raise up to $100 million and allocate half its profits to buy Bitcoin as part of a new treasury strategy.

• A retired artist lost over $2 million in Bitcoin after scammers impersonating Coinbase tricked him into revealing his seed phrase.

The most clicked link in our last newsletter was Blockstream CEO Adam Back saying Bitcoin is “too low” at $103K and could reach $500K–$1M this cycle due to ETF inflows and bullish U.S. policy.

MACRO & INDUSTRY

• Coinbase faces at least six lawsuits after revealing support agents were bribed to leak user data in a $20 million extortion scheme.

• Strategy’s STRK preferred stock has outperformed Bitcoin and the S&P 500 while raising a record $59.7 million to fund more BTC purchases.

POLL

THURSDAY’S POLL RESULTS

Which Bitcoin exchange do you use for recurring buys (and why)?

🟨🟨⬜️⬜️⬜️ 🟡 River (17%)

🟥⬜️⬜️⬜️⬜️ 🟣 Kraken (12%)

🟨🟨⬜️⬜️⬜️ ⚪️ Swan (19%)

🟥⬜️⬜️⬜️⬜️ ⚫️ Strike (7%)

🟨🟨⬜️⬜️⬜️ 🔵 Coinbase (19%)

🟩🟩🟩⬜️⬜️❓Other (26%)

🟡 River: “No fee DCA + free Monthly withdrawal. River is a no-brainer.” — Zack

🟣 Kraken : “Kraken. Heard about it in a German podcast.” — Sam

⚪️ Swan: “Easy to use and not too expensive.” — Max

⚫️ Strike : “Direct deposit auto converts USD to BTC.” — Charlie

🔵 Coinbase: “It was the easiest to set up.” — Jeremy

❓Other: “Don't know if it's considered an exchange, but I use Robinhood.” — Ryan

❓Other: “Robinhood, more sats last time I checked.” — Sean

VIDEO

🛠️ In the latest video from Matthew Kratter’s Bitcoin University, he argues that Satoshi Nakamoto’s biggest mistake was failing to anticipate the rise of centralized mining pools. 

This shift, he says, threatens Bitcoin’s censorship resistance and decentralization.

He advocates for solutions like DATM and Bitcoin Knots to restore Satoshi’s original vision.

Watch the full breakdown on YouTube:

CHARTS & DATA

Golden Cross - Bitcoin is now just 1-3 days from experiencing a golden cross on the daily chart.

MVRV-z Score - MVRV-z score has never been this low during a Bitcoin bull market.

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