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.

Last week, I wrote:

Should be an interesting month and year up ahead.

But definitely wasn’t expecting nearly $90,000 so soon!

Happy Tuesday to the 17,157 Minimalist members reading today. 👋 

Today we’re covering:

• MicroStrategy's Bitcoin holdings hit 279,420 BTC

• Senator calls for U.S. reserve within 100 days

• Bitcoin market cap surpasses silver

• And everything else you need to know

Estimated read time: 3 minutes and 12 seconds

WHAT WE’RE WATCHING

💰 MicroStrategy bought 27,200 BTC for $2 billion, pushing its total Bitcoin profit to $11 billion. The company now holds 279,420 BTC, worth nearly $23 billion. Following the purchase, MicroStrategy’s stock rose over 9%, as Bitcoin's price surged above $82,000.

🇺🇸 Senator Cynthia Lummis aims to pass a national Bitcoin reserve bill within Trump’s first 100 days. The proposal seeks bipartisan support to make the U.S. the largest government Bitcoin holder, enhancing financial stability and securing asset protection via Treasury-managed Bitcoin vaults.

📉 Elon Musk shared Utah Senator Mike Lee’s call to abolish the U.S. Federal Reserve. Lee argues that the Fed’s autonomy deviates from constitutional principles and fuels inflation. "Sound money" advocates and Bitcoiners back this sentiment.

🌍 Bitcoin advocate Daniel Batten reveals that a nation state is considering a Bitcoin strategic reserve and drafting mining regulations to boost grid efficiency and monetize unused energy. David Bailey adds that this country has become a top 5 Bitcoin holder, hinting at an imminent announcement.

📈 Bitcoin’s rally to $89,500 on Nov. 11 pushed trading volumes for Bitcoin ETFs, MicroStrategy, and Coinbase to a record $38 billion. MicroStrategy stock surged 25% after buying 27,200 more BTC, while Coinbase hit $324.20, reaching levels unseen since 2021. Bitcoin mining stocks like MARA and CleanSpark also saw massive gains.

🚀 Bitcoin’s market cap hits $1.736 trillion, surpassing silver as the 8th largest global asset. Boosted by ETF inflows, institutional interest, and Trump’s election win, Bitcoin surged past $88,000. BlackRock's IBIT saw $4.5 billion in trading volume, underscoring strong demand.

🎶 [VIDEO] "Remy: Bitcoin Billionaire" from 2017 is making a comeback as Bitcoin’s price rises. The satirical song humorously captures a former basement dweller’s journey from broke to “Bitcoin billionaire,” with verses about mining, lavish spending, and Bitcoin dreams.

📊 Bitbo has launched a new SOPR chart, indicating Bitcoin transactions' profit or loss status. SOPR values above 1 show profit-taking, while values below 1 indicate losses. Users can also view 7- and 30-day moving averages and color-coded historical SOPR levels for simple analysis. Watch my video explanation →

💥 Economist Peter Schiff warns Bitcoin's recent rise is "the biggest bubble in history." He claims that Bitcoin is a “popular delusion” and that its collapse would severely harm investors and the economy. Schiff also opposes a U.S. Bitcoin reserve.
Analysis: I think Schiff needs one of these shirts!

IN THE LOOP

• Bitcoin ownership may soon be a "political imperative" for investors after Republicans' election wins, says NYDIG.

• Bitcoin companies feel optimistic about U.S. growth and support under Trump’s presidency.

• Coinbase stock surged past $300 for the first time since 2021.

• Donald Trump is considering pro-Bitcoin Scott Bessent as a leading candidate for Treasury Secretary.

• Germany lost out on $1.6 billion by selling 50,000 bitcoin before a recent price surge, while the U.S. missed out on $16.6 billion from previous bitcoin auctions.

• Bhutan’s Bitcoin holdings surpassed $1 billion amid rising prices.

POLL

THURSDAY’S POLL RESULTS

How likely do you think Trump’s administration will create a national Bitcoin reserve?

🚀🚀🚀 Very Likely - 53%

🤔🤔 Somewhat Likely- 37%

❓ Unlikely - 8%

🚫 Not at all likely - 2%

🚀 Very Likely - “Unlike almost all other politicians, Trump consistently keeps his word. He is pro-freedom and there’s nothing more free than BTC. ” - Dylan

🚀 Very Likely - “Nation state competition is well underway.” - Mark

🚀 Very Likely - “Other nations will see this and be forced to create their own BTC reserve.” - Chris

VIDEO

PlanB highlights Bitcoin’s post-election surge, reaching $76K, and forecasts major growth based on his stock-to-flow model.

PlanB projects a $500,000 Bitcoin price by 2028, bolstered by Trump’s proposed national Bitcoin reserve and MicroStrategy's $42B buy plan.

CHARTS & DATA

ETF Volume - U.S. Bitcoin ETFs did nearly $7 billion in trading volume yesterday.

Mining Stocks - Mining stocks are following Bitcoin’s price action, with large gains across the board yesterday.

FROM THE ARCHIVE

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