🏦 RFK Jr Buys Bitcoin

Trump Claims He's "Crypto President" & ETFs Continue to Buy

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.

Today we’re covering:

  • Trump's pro-Bitcoin campaign stance,

  • Largest weekly Bitcoin ETF purchase since March,

  • BRICS+ pushes de-dollarization,

  • And everything else you need to know.



Trump Positions Himself as the "Crypto President" at San Francisco Fundraiser

Trump's Campaign: At a high-profile fundraiser in San Francisco, Donald Trump called himself the "crypto president." He declared his support for Bitcoin and the cryptocurrency industry. The event raised $12 million for his campaign, with tech venture capitalists and crypto executives in attendance.

Fundraiser Highlights: Hosted by David Sacks and Chamath Palihapitiya, the fundraiser drew significant support from the crypto community, including Coinbase executives and the Winklevoss twins. Trump emphasized his pro-crypto stance but did not outline specific policy plans.

Political Dynamics: Trump's stance on crypto contrasts sharply with Joe Biden's, as Trump promises to end regulatory crackdowns on the industry if re-elected. This positioning aims to attract the support of over 50 million Bitcoin & crypto owners in the U.S.

Campaign Donations: Trump recently made history by accepting Bitcoin Lightning Network donations for his campaign.


🇺🇸 RFK Jr. revealed he bought 21 bitcoin, with three for each of his kids. He also claims he supports treating Bitcoin as a transactional currency, free from capital gains tax, and praised Trump’s commitment to Bitcoin for its association with freedom and transparency.

💶 The ECB cut its key interest rate to 3.75%, the first reduction since 2019. Inflation projections for 2024 and 2025 were slightly raised. Future rate cuts will depend on economic data, with no reductions expected before September.

📊 Spot Bitcoin ETFs in the U.S. saw $1.8 billion in inflows last week, marking 18 consecutive days of record demand. Trading volumes rose 55% to $12.8 billion, with ETFs acquiring around 25,700 BTC. Total assets under management now exceed $70 billion, highlighting institutional interest.

🇺🇸 An opinion piece claims that Donald Trump is seen as the best Presidential candidate for Bitcoin. Trump has pledged to protect self-custody and block a central bank digital currency. He promises to stop Biden's anti-crypto measures, appealing to Bitcoiners by vowing to protect their rights and support the industry's growth.

📈 Bitcoin's short-term holder realized price hits $64,000, confirming the BTC rally, CT claims. The realized price rose by 1.5%, with BTC breaking above $70,000. Increased buying activity and support around $69,000, alongside a surge in active addresses, signal a bullish trend, as noted by analysts from Cryptoslate and IntoTheBlock.

💰 U.S. Bitcoin ETFs bought 25,729 BTC, worth $1.83 billion, in the first week of June, equivalent to two months of mining supply. This marked the largest weekly acquisition since mid-March. Since January, the 11 ETFs have amassed $15.69 billion in net inflows, with assets under management totaling $61 billion.

⚖️ A Senate spending package includes a provision threatening Bitcoin businesses with U.S. sanctions over "ties to terrorism" and stricter user identity verification. Passed unanimously by the Senate Select Committee on Intelligence, this measure could accelerate sanctions on foreign digital asset facilitators linked to terrorism. Industry representatives are engaging with policymakers to address concerns.

🏨 Metaplanet, a Japanese firm, purchased ¥250 million ($1.8 million) worth of Bitcoin, bringing its total to 141 BTC. This marks the third buy in seven weeks, with shares rising 10%. Metaplanet aims to hedge against Japan's debt and yen devaluation, mimicking MicroStrategy’s strategy.

💼 Semler Scientific plans to raise $150 million to expand its Bitcoin holdings. It recently acquired 247 Bitcoin for $17 million, increasing its total to 828 BTC. Inspired by MicroStrategy, Semler views Bitcoin as a primary treasury reserve asset and a hedge against inflation.


BRICS+ Pushes De-Dollarization

BRICS+ Accelerates De-dollarization: The BRICS ministerial meeting held in Russia today showcased a strong push towards de-dollarization. The 22 countries discussed the increased use of local currencies in trade and financial transactions. This move highlights a growing discontent with the petrodollar system.

Saudi Arabia's Strategic Shift: Saudi Arabia's participation in the meeting, following its official BRICS membership earlier this year, marks a critical juncture. Strained relations with the US under the Biden administration and actions like the Strategic Petroleum Reserve draining have driven Saudi Arabia to explore alternatives, fearing potential Western sanctions akin to those imposed on Russia.

Implications for the Dollar: This shift away from the dollar by BRICS nations could lead to reduced demand for US dollars and treasuries, putting even more pressure on the USA's inflation and debt issues. Despite rumors of a lapsed petrodollar agreement, the emphasis on local currencies by BRICS+ countries points to a future with less reliance on the dollar.

Skepticism Towards BRICS Currency: While the dedollarization trend continues, concerns about the stability of a potential BRICS currency remain. Geopolitical tensions, economic instability, and internal conflicts within BRICS nations could undermine the viability of such a currency. A more decentralized monetary system, like Bitcoin, is suggested by the author as a more stable alternative.

Conclusion: The BRICS+ countries' dedication to de-dollarization marks a significant shift in global economic strategy, potentially challenging the US dollar's dominance. However, the success of this transition remains uncertain amid geopolitical and economic complexities.


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When will Bitcoin hit a new all-time high?

June - 51.2%

July - 17.1%

August - 14.6%

September or after - 17.1%

June - “The dam will not hold much longer” - Navi

June - “Only a few thousand dollars away” - Chris

July - “Anything is a guess.” - Drake


💸 Robinhood is acquiring Bitstamp for $200 million to boost its global Bitcoin business. The deal, closing in 2025, will integrate Bitstamp’s extensive customer base and regulatory licenses into Robinhood’s platform, enhancing its Bitcoin offerings amidst ongoing SEC scrutiny.

🛡️ Bitfarms adopts a "poison pill" strategy to block Riot Platforms' hostile takeover bid. This plan, triggered if any entity acquires over 15% equity by September 10, will issue new stock to dilute the acquirer’s stake. Riot, holding 12%, recently offered $950 million for Bitfarms, which was rejected.

📉 Bitcoin’s monthly returns are highly volatile, showing both significant gains and losses. Seasonal trends suggest stronger performance in spring, but factors like regulation, adoption, and economic conditions heavily influence outcomes. For example, December 2017 saw over 39% gains, while January 2018 experienced a 27% drop.


Bevan Waite has announced the upcoming release of 21 Voices, a Bitcoin mini documentary series. Watch the trailer here!


10% - As of the time of writing, Bitcoin is only 10% away from its previous all-time high.

$50 Billion - Bitcoin is currently processing around $50 billion USD worth of value per day.

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