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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 18,387 Minimalist members reading today. 👋
After some quiet weeks, things seem to be heating up again today in terms of news.
Today we’re covering:
MicroStrategy may join Nasdaq 100 soon
Ray Dalio refers to Bitcoin as "hard money"
Trump wants to “do something big” with crypto
And everything else you need to know.
Estimated read time: 3 minutes and 7 seconds
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WHAT WE’RE WATCHING
Ray Dalio speaking at Web Summit.
🌍 Ray Dalio recommends Bitcoin and gold to hedge against rising global debt. At Abu Dhabi Finance Week, he warned of potential debt crises and fiat currency devaluation, citing high indebtedness in major economies like the U.S. and China. Dalio advocates diversifying with “hard money” investments like Bitcoin.
🇺🇸 Trump again vowed U.S. leadership in Bitcoin during his presidency. Today at the NYSE, Trump told CNBC that the USA would "do something great with crypto" to stay ahead of China and others, hinting at a strategic Bitcoin reserve.
🏴 Texas House introduces bill to establish a strategic bitcoin reserve. Led by Rep. Giovanni Capriglione, the bill allows taxes, fees, and donations to be accepted in bitcoin. Texas would then hold the BTC for at least five years. Texas has the highest concentration of U.S. bitcoin miners and hopes some of them will pay taxes using BTC.
📈 MicroStrategy may join the Nasdaq 100 on Dec. 23, potentially driving $2.1 billion in ETF buying, analysts say. Bernstein highlights the firm's Bitcoin-heavy strategy and 147% premium to NAV. The firm also expects continued BTC purchases by MicroStrategy. They also expect the Trump administration's focus to bolster MicroStrategy's market visibility.
📊 Bitbo introduces its "Real Bitcoin Dominance" chart. This dominance metric excludes stablecoins and inflated market caps for a clearer view. The chart shows red when BTC dominance drops below 60%.
🎁 Ledger is offering up to $70 in free Bitcoin with select wallet purchases this holiday season. Deals include $70 free BTC with Ledger Flex™ purchase, $40 BTC with Nano X™, and $30 BTC with Nano S Plus™.
👎 Microsoft shareholders reject Michael Saylor's Bitcoin proposal. During the annual meeting, only 0.55% backed Saylor’s call to convert cash flows into Bitcoin. Despite MicroStrategy’s $41.3B Bitcoin holdings and Saylor’s advocacy, Microsoft continues monitoring crypto without major changes to its strategy.
IN THE LOOP
US inflation rose to 2.7% in November 2024.
Roger Ver, known as "Bitcoin Jesus," claims U.S. tax evasion charges are political retaliation.
Bitwise predicts Bitcoin reaching $200K in 2025.
Vancouver Mayor Ken Sim's motion to make the city "bitcoin-friendly" by holding Bitcoin in reserves passed.
Casa launched "Praetorian," a self-custody Bitcoin service for nation-states.
Alabama State Auditor Andrew Sorrell advocates for an Alabama state Bitcoin reserve.
The most clicked link in our last newsletter was Eric Trump’s confident prediction that Bitcoin will reach $1 million.
POLL
What’s your strategy for buying Bitcoin? |
TUESDAY’S POLL RESULTS
If capital gains taxes on Bitcoin are eliminated, how do you think it would affect Bitcoin’s price?
📈 Increase significantly due to usage - 87%
📉 Decrease due to more selling - 2%
🤷♀️ No major impact - 11%
📈 Increase significantly due to usage - “Removing capital gains tax will allow bitcoin to be used freely as a currency rather than property. It doesn't have to be sold, when it can be freely exchanged.” - Logan
📈 Increase significantly due to usage - “I should not have to pay taxes.” - Tim
📈 Increase significantly due to usage - “The less you tax something...the more of it you get.” - Chris
VIDEO
Eric Trump Explains How His Dad Could Propel BTC to $1M
Eric Trump, son of U.S. President Donald Trump, delivers a powerful speech at Bitcoin MENA 2024 in Abu Dhabi, sharing his bullish vision for Bitcoin. He also anticipates how his father’s presidency will embrace the industry.
CHARTS & DATA
Bitcoin ETFs - U.S. Bitcoin ETFs now hold over 1.1 million BTC.
MSTR - MSTR has outperformed Bitcoin in 2024. MSTR stock priced in Bitcoin has gone up from 0.001319 BTC on January 1, 2024, to 0.003954 BTC today.
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FROM THE ARCHIVE
Fourteen years ago today, Satoshi Nakamoto made his last post on the Bitcoin forum. The following day, he logged off for good and never came back.
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