🟠 BTC Dips

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.

Looks like some time to re-adjust now that the Bitcoin hype has faded a bit.

Happy Tuesday to all 17,836 Minimalist members reading today. 👋 

Today we’re covering:

• Suriname may adopt Bitcoin as currency

• Trump nominates Bitcoin advocate Scott Bessent

• Allianz backs Bitcoin via MicroStrategy notes

• And everything else you need to know.

Estimated read time: 3 minutes and 6 seconds

WHAT WE’RE WATCHING

🪙 Trump nominates pro-Bitcoin hedge fund manager Scott Bessent as Treasury Secretary. A Bitcoin advocate, Bessent calls Bitcoin a "symbol of freedom" and aligns with Trump’s pro-Bitcoin stance.

💰 MicroStrategy acquired 55,500 BTC for $5.4 billion, bringing its total to 386,700 BTC, valued at $37 billion. This marks its largest purchase ever, averaging $97,862 per BTC.

📊 Texas explores strategic Bitcoin reserves. Satoshi Action Fund CEO Dennis Porter revealed discussions with a Texas lawmaker about potential legislation. Texas, with its $2.4 trillion GDP, could join other states like Pennsylvania and efforts at the national level in creating Bitcoin reserves.

📹 Rumble plans to buy up to $20M in Bitcoin. The video platform, popular among conservatives, aims to allocate excess reserves to Bitcoin as an inflation hedge. Rumble shares rose 4% after the announcement.

🌍 Suriname’s presidential candidate Maya Parbhoe proposes adopting Bitcoin as legal tender to fight corruption. She plans to replace the Suriname dollar with BTC, dismantle the central bank, and promote transparency. Motivated by personal tragedy and systemic corruption, Parbhoe seeks to transform Suriname into a Bitcoin-powered nation.

📊 Fidelity’s Jurrien Timmer shared models linking Bitcoin’s adoption and valuation to macroeconomic factors like real rates and monetary inflation. He noted slowing wallet growth but highlighted underreported adoption due to ETFs. Timmer’s layered approach emphasizes Bitcoin’s dual role as a network and monetary innovation.

🌟 Timestamp launches a regulated crowdfunding platform for Bitcoin startups, connecting global investors with innovative projects. Open to both accredited and non-accredited investors, it simplifies funding with low barriers, no membership fees, and streamlined processes. Currently fiat-only, Bitcoin payments are planned for 2025.

📉 Spot Bitcoin ETFs faced $438M outflows on Nov. 25, the largest since the U.S. election on Nov. 6. This follows record inflows of $1B just days earlier, reflecting shifting sentiment. Bitcoin fell 7% to $92,000 amid profit-taking.

IN THE LOOP

• The Blockchain Association urges Trump to overhaul SEC, IRS, and Treasury leadership to support pro-Bitcoin policies.

• Marathon Digital acquired 5,771 BTC for $572M.

• Tether minted $3 billion in USDT.

• SEC Chair Gary Gensler announces his resignation effective January 20, 2025.

• Allianz, Germany’s largest insurer, has purchased 24.75% of MicroStrategy’s $2.6 billion convertible notes.

• Morocco is drafting a law to legalize Bitcoin and cryptocurrency.

• Texas now requires Bitcoin miners to register with the PUCT to ensure grid reliability and manage energy demands.

POLL

THURSDAY’S POLL RESULTS

Will you continue buying Bitcoin, even at these high prices?

🚀 Yes, Bitcoin to the moon - 64%

💰 Yes, but only small amounts - 16%

🤔 Maybe, still deciding - 5%

🛑 No, it’s too expensive - 5%

📉 No, waiting for a price drop - 10%

🚀 Yes, Bitcoin to the moon - “G-d candle - that's Bitcoin now…📈” - Ben

🚀 Yes, Bitcoin to the moon - “Until 1 million!” - Kevin

🚀 Yes, Bitcoin to the moon - “Stackity stack” - Charlie

🚀 Yes, Bitcoin to the moon - “With BTC potentially much higher by year end 2025, I'm strapping in and continuing to buy” - Chris

VIDEO

Matthew Kratter of Bitcoin University explores MicroStrategy.

What’s this company’s end goal, and how in the world do they keep buying more bitcoin?!

CHARTS & DATA

Price - Before Bitcoin broke out above ~$93,000 in November, it consolidated in that range for nearly 10 days. We’re likely simply re-visiting that previous top.

Stock to Flow - Bitcoin continues to get closer to the projected stock to flow model price.

FROM THE ARCHIVE

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