🟠 Bitcoin ATH

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.

An all-time high yesterday, yet no one really cares. Interesting times in Bitcoin!

Happy Tuesday to the 19,985 Minimalist members reading today. 👋 

Today we’re covering:

• Massachusetts & Wyoming propose Bitcoin reserves

• MSTR buys even more BTC

• Criticism of $TRUMP coin

• And everything else you need to know.

Estimated read time: 2 minutes and 59 seconds

WHAT WE’RE WATCHING

🤔 Mark Cuban criticized Trump’s memecoin, calling it "self-serving" and harmful to Bitcoin’s legitimacy. He argued it fuels speculation, undermines trust, and worsens regulatory concerns.

🤝 Michael Saylor and Marathon Digital met Trump’s team, hinting at possible Bitcoin policy shifts. The meeting, held by VP-elect JD Vance, aligns with Trump’s pro-crypto stance, including proposals for a national Bitcoin reserve and bolstering U.S. Bitcoin mining to boost jobs and energy security.

📜 Massachusetts proposes the "Commonwealth Bitcoin Strategic Reserve". The purpose of this bill is to allocate up to 10% of its $9 billion stabilization fund to Bitcoin. Led by Senator Peter Durant, the bill aims to diversify the state’s portfolio.

🏛️ Wyoming introduces the "State Funds-Investment in Bitcoin Act" (HB0201), proposing a Bitcoin Strategic Reserve. Led by Rep. Jacob Wasserburger, it aims to diversify state funds and solidify Wyoming's position as a Bitcoin pioneer. The bill aligns with national efforts to establish a U.S. Strategic Bitcoin Reserve.

💰 MicroStrategy added 11,000 BTC for $1.1B, raising its total to 461,000 BTC. This marks 11 straight weeks of purchases. The firm’s average buy price is now $63,610 per BTC, as Bitcoin trades near $104,500. Michael Saylor hinted at the move with cryptic posts on X.

🤝 Elon Musk claims Trump will pardon Ross Ulbricht, founder of Silk Road. Libertarian leader Angela McArdle confirmed the pardon is expected imminently. Trump had pledged Ulbricht's release.

IN THE LOOP

• Rumble made its first bitcoin purchase after Tether’s investment, with plans to buy up to $20M in bitcoin.

• Vitalik Buterin defended the Ethereum Foundation’s 100 ETH sale amid criticism.

• President Trump named Caroline Pham as acting chair of the CFTC, signaling a shift toward pro-Bitcoin policies.

• Pro-Bitcoin Mark Uyeda has been named acting SEC chair following Gary Gensler's resignation.

• Trump's inaugural speech omitted Bitcoin, but his pro-Bitcoin nominations and policies signal strong industry support.

The most clicked link in our last newsletter was Bitbo’s Bitcoin analytics platform. 

POLL

THURSDAY’S POLL RESULTS

How many Bitcoin-related executive orders will Trump make on day 1?

🟩🟩🟩🟩⬜️ 0️⃣ (31%)

🟨🟨🟨⬜️⬜️ 1️⃣ (24%)

🟨🟨🟨⬜️⬜️ 2️⃣ (25%)

🟥🟥⬜️⬜️⬜️ 3️⃣ (20%)

0️⃣: “Day 1??….No, I’m sure he has plenty of other things on his list to tackle, on Day 1.” — Steve

0️⃣: “Trump is not our guy.” — Dave

0️⃣: “There are many other priorities that need to be resolved first. I do hope it happens, but it will happen near term.” — Eric

0️⃣: “Don't want to get too excited. Anything more than zero is a win.” — Adam

1️⃣: “Officially firing Gary Gensler. ‘YOU'RE FIRED!’” — Allan

3️⃣: “Strategic reserve and probably several regulation reduction orders.” — Chris

VIDEO

Matthew Kratter takes a deep look at the $TRUMP meme coin in his latest video.

Although he voted for Trump in 2024, Kratter calls the $TRUMP meme coin a total scam.

One viewer agreed, saying: “As a long time Trump supporter, I agree with every word of your analysis.”

CHARTS & DATA

Power Law - Bitcoin is almost exactly at the projected power law price.

Pi Cycle Estimate - At the rate the price is currently moving up, Pi Cycle Top estimates around a $300k Bitcoin top in December 2025.

FROM THE ARCHIVE

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