🟠 Bitcoin Drops

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 16,470 Minimalist members reading today. 👋 

Today we’re covering:

• Satoshi Nakamoto's missing early 2009 blocks,

• Ohio bill allows Bitcoin tax payments,

• Mt. Gox creditors plan to hold BTC,

• And everything else you need to know.

Estimated read time: 2 minutes and 59 seconds

WHAT WE’RE WATCHING

💰 Mt. Gox creditors are nearing long-awaited bitcoin payouts after the 2014 collapse, which saw 850,000 BTC stolen. About 160,000 BTC is being distributed, sparking market speculation. While some fear a sell-off, many creditors plan to hold, and bitcoin’s maturity could limit market disruption.

📉 Bitcoin dropped nearly $4,000, or over 3%, following Iran’s missile strike on Israel. Gold prices rose 1.4% to $2,665 per ounce. This renewed debate over Bitcoin as a safe-haven asset, with analysts suggesting investors are favoring gold during geopolitical tensions.

🗳️ Business Insider claims both Trump and Harris are courting Bitcoin voters. However, Trump has actively supported the crypto industry, while Harris has remained silent. Trump has made specific pledges to Bitcoin holders, while Harris has yet to express any meaningful stance on the issue.

🕵️‍♂️ A new mystery about Bitcoin's creator, Satoshi Nakamoto, has emerged, highlighting missing blocks in early 2009. Analyst Wicked Bitcoin found gaps in the “Patoshi” miner’s activity, sparking speculation that Satoshi may have tested Bitcoin’s resilience to 51% attacks. The discovery adds to the enduring enigma surrounding Nakamoto.

🏛️ Ohio Senator Niraj Antani introduced a bill allowing residents to pay state and local taxes using Bitcoin. This follows a 2018 attempt to integrate cryptocurrency for tax payments. The bill also permits state universities and pensions to invest in digital currencies, aiming to modernize Ohio’s financial system.

📊 CME’s Bitcoin Friday Futures (BFF) launched with 31,498 contracts traded on the first day, making BFF the most successful crypto futures debut to date. Sized at one-50th of a Bitcoin, these cash-settled contracts expire weekly, allowing participants to hedge or speculate on Bitcoin's short-term price movements without long-term commitments.

📉 Bitcoin ETFs saw $242.6 million in outflows yesterday. This was the largest outflow since Sept. 3, as BTC dropped 6% to $60,300. The decline was driven by escalating Middle East tensions, snapping an eight-day streak of inflows.

🕵️‍♂️ North Korea infiltrated over a dozen crypto firms. North Korea did this by covertly hiring IT workers, using fake identities and passing interviews. These hires violated sanctions and exposed firms to hacks, with stolen earnings funneled to Pyongyang. A CoinDesk investigation revealed widespread DPRK involvement in altcoin projects like Sushi and Cosmos Hub.

IN THE LOOP

• Japan's Metaplanet purchased an additional $6.9 million in bitcoin, bringing its total holdings to $32 million.

• A Bitcoin researcher predicts a potential price peak of $275,000 by November 2025 using a quantile regression model.

• OCEAN's DATUM protocol decentralizes Bitcoin mining by giving individual miners control over block creation, reducing reliance on large mining pools.

• Arthur Hayes attributes Bitcoin's growth to global monetary policies like inflation and monetary expansion.

POLL

MONDAY’S POLL RESULTS

If you’re a US citizen and plan to vote, will Bitcoin policy be the only issue that decides your vote?

🟠🟠🟠 Yes, Bitcoin is top priority - 46%

⚖️⚖️⚖️ No, I consider multiple issues - 46%

🚫 I’m not voting - 8%

🟠 Yes - “A Bitcoin standard solves all of our fiscal and monetary issues” - Chris

⚖️ No - “I can not / will not place personal gains above our democracy and the rule of law.” - Aaron

⚖️ No - “Single issue voters are often lied to and manipulated. Look at the party platform and decide which will do less harm. Remember they vote as a block.” - Mark

⚖️ No - “Bitcoin is one of my major priorities however, considering Trumps prolific ability to lie, I don’t believe anything he says. His only focus is to get votes anyway he can and will say anything to anyone to garnish those votes. He is only concerned with lining his own pockets and cares nothing of the welfare of anyone else.” - David

⚖️ No - “If crypto is your only voting issue, then you're an idiot.” - Justin

CHARTS & DATA

Higher Low - Despite yesterday’s price drop, it’s important to note that Bitcoin has hit a higher low. The price now is still higher than the last two drops, which is a positive sign.

Realized Price - Bitcoin is now below the STH realized price, and less than twic the realized price. Going back above these two levels will be key to continue upwards momentum.

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