🟠 Bitcoin Options Launch

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 has happened this week!

Happy Tuesday to the 17,483 Minimalist members reading today. 👋 

Today we’re covering:

• MicroStrategy now holds 331,200 BTC

• Spot ETFs control 5% of mined Bitcoin

• Trump prioritizes pro-Bitcoin regulatory appointments

• And everything else you need to know.

Estimated read time: 3 minutes and 22 seconds

WHAT WE’RE WATCHING

🤝 Donald Trump will meet privately with Coinbase CEO Brian Armstrong according to the Wall Street Journal. They plan to discuss personnel appointments for Trump’s second administration. Armstrong, a crypto and sometimes Bitcoin advocate, has supported Trump’s crypto-friendly stance and pushed for Hester Peirce as SEC chair. Coinbase and Armstrong donated $49M to pro-crypto PACs during the 2024 election.

📊 BlackRock's iShares Bitcoin Trust ETF (IBIT) options will debut on Nasdaq today. This milestone integrates Bitcoin into traditional finance, enabling institutional investors to hedge exposure efficiently. Analysts expect this to expand Bitcoin's derivatives market, boost investor access, and reduce market volatility.

🗳️ The Trump administration plans to de-prioritize Bitcoin enforcement, reallocating resources to immigration law. Key agencies like the SEC and CFTC may scale back crypto investigations. Jay Clayton’s potential appointment as U.S. Attorney may make it easier for Bitcoin exchanges to operate in the USA.

💰 MicroStrategy acquired 51,780 Bitcoin, increasing its holdings to 331,200 BTC worth $30 billion. Funded through share sales, the purchase reflects Michael Saylor’s strategy to cement the company’s Bitcoin-centric focus, now seeing $13 billion in unrealized profits as Bitcoin surges past $90,000.

💵 Marathon Digital upsizes its debt offering to $1 billion, primarily to buy Bitcoin and expand operations. The zero-interest senior notes, maturing in 2030, will also fund corporate growth and repurchase 2026 notes. Marathon, already holding 27,562 BTC, aims to significantly increase its Bitcoin treasury.

📈 Bernstein identifies catalysts for Bitcoin’s $200K target, as it trades at $92K near all-time highs. Key drivers include pro-Bitcoin U.S. regulatory appointments, potential creation of a national Bitcoin reserve, institutional demand, Bitcoin ETFs, and MicroStrategy's aggressive acquisitions. Sovereign-led demand is seen as pivotal for the next cycle.

🏦 MicroStrategy is selling $1.75 billion in zero-coupon convertible notes to buy more Bitcoin. The announcement coincided with a $4.6 billion BTC purchase, following a $2 billion purchase last week. This reinforces its Bitcoin-first strategy, with its stock surging over 460% in the past year. Yes, you read that right: MSTR plans to buy even more BTC.

🛡️ Jason Lowery, author of Softwar and U.S. Space Force major, has applied to advise the White House on Bitcoin's Proof-of-Work (PoW) for national security. He argues PoW can deter cyber threats, revolutionize defense strategies, and advocates for a U.S. "Hash Force" to secure digital infrastructure.

IN THE LOOP

• Paul Tudor Jones’ hedge fund now holds $230 million in BlackRock’s Bitcoin ETF.

• Genius Group purchased 110 Bitcoin for $10 million as part of its "Bitcoin-first" strategy to hold 90% of reserves in Bitcoin.

• RFK Jr. declared Bitcoin the "currency of freedom".

• Semler Scientific increased its Bitcoin holdings to 1,273 BTC, spending $17.7M on 215 BTC in November.

• Polish presidential candidate Sławomir Mentzen pledged to create a strategic Bitcoin reserve and make Poland a Bitcoin haven if elected.

• Spot Bitcoin ETFs now control over 5% of mined Bitcoin.

• LQR House will invest up to $1 million in Bitcoin and start accepting Bitcoin payments.

• Metaplanet shares rose 15.1% after buying 124.1 BTC, boosting its total holdings to 1,142.2 BTC.

POLL

THURSDAY’S POLL RESULTS

Why has Bitcoin's price risen so quickly over the past few days?

🛠️ Post-halving scarcity - 8%

🇺🇸 USA Bitcoin strategic reserve anticipation - 7%

🌎 Nation-state buying - 12%

🏛️ Favorable Bitcoin regulations coming under Trump - 22%

✅ All of the above - 51%

✅ All of the above - “The perfect storm.” - Chris

VIDEO

Michael Saylor, speaking at Cantor Fitzgerald, championed Bitcoin as a transformative financial asset. 

He highlighted Bitcoin’s unmatched returns, its potential as "digital capital," and its resilience against inflation and counterparty risks.

Saylor also advocated for U.S. adoption, predicting a "Bitcoin renaissance" driven by innovative policies and institutional support.

Bitcoin analyst “PlanB” called this presentation a “must see”.

CHARTS & DATA

Hash rate - Bitcoin hash rate is flying, with current estimates at around 878 EHs. This would mark a hash rate all-time high.

Halving Rainbow - Bitcoin is still in the green band of the Bitcoin halving rainbow. This means it is not far past the projected price based on the model.

FROM THE ARCHIVE

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