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 supports U.S. Bitcoin mining,

• Biden re-introduces 30% tax on mining,

• Australian stock exchange approves first Bitcoin ETF,

• And everything else you need to know.

—Jordan

PATRIOTIC MINING PUSH

Trump Advocates for U.S. Bitcoin Mining Dominance

Trump's Bitcoin Vision: U.S. Presidential candidate Donald Trump has announced his support for domestic Bitcoin mining. 

Statement Release: Trump’s statement was released following a meeting with leaders from the top US Bitcoin mining companies. Trump expressed his desire for the U.S. to lead in Bitcoin mining.

In Trump’s Words: “VOTE FOR TRUMP! Bitcoin mining may be our last line of defense against a CBDC. Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!” - Donald Trump

Community Reactions: The Bitcoin community has largely welcomed Trump’s stance, with notable figures like Samson Mow predicting significant global discussions and positive impacts on Bitcoin’s future.

WHAT WE’RE WATCHING

📉 Biden's proposed 30% tax on Bitcoin and crypto mining would significantly burden U.S. firms. This has the potential to completely squander mining initiatives in the states. This tax, phased in over three years, contrasts sharply with Trump's recent pro-Bitcoin stance and could lead to job losses, reduced economic activity, and increased centralization in larger firms.

💸 Len Alden explains how the modern monetary and banking systems, reliant on fiat currencies and fractional reserve banking, dilute savings and cause economic instability. She advocates for decentralized currencies like Bitcoin, which offer fixed supply and transparency, as solutions to current systemic flaws, promoting individual financial empowerment and global connectivity.

🇺🇸 Donald Trump vows to end President Biden’s “war on crypto” if elected. During his speech in West Palm Beach, Florida, Trump emphasized his intention to make the U.S. a leader in the Bitcoin industry, particularly highlighting Florida's favorable crypto tax policies.

📡 Deutsche Telekom announced its plans to mine Bitcoin at BTC Prague. The company has already running Bitcoin and Lightning Network nodes since 2023.

🇦🇺 Australia's largest stock exchange, ASX, approved its first Bitcoin ETF, issued by VanEck. This move follows the success of similar ETFs in the US and Hong Kong. The VanEck Bitcoin ETF (VBTC) enhances Bitcoin's visibility and access for Australian investors.

STRATEGIC MEETINGS

Biden Administration to Attend Key Bitcoin Roundtable in D.C.

Significant Meeting: U.S. Congressman Ro Khanna is set to host a pivotal Bitcoin roundtable in Washington D.C. this July. The meeting is set to host key officials from the Biden Administration, House, Senate, and prominent entrepreneur Mark Cuban.

Goal: This meeting aims to plan how to retain Bitcoin innovation within the U.S, and prevent it from leaving to other countries.

Bipartisan Engagement: The roundtable follows recent moves by former President Donald Trump to support the Bitcoin industry, including accepting Bitcoin Lightning payments for campaign donations and pledging to end what he calls "Joe Biden's war on crypto."

Shift in Stance: Despite a historically hostile approach, including vetoes on Bitcoin custody legislation and proposed taxes on Bitcoin mining, the Biden Administration's participation in this roundtable indicates a potential warming toward the industry.

POLL

TUESDAY’S POLL RESULTS

Which potential US president is best for Bitcoin's future?

Joe Biden - 0%

RFK Jr. - 25.8%

Donald Trump - 74.2%

Trump - “I think he will help our country’s ability to have cheaper energy and make good economic decisions.” - James

Trump - “Go Trump 2024.” - Kyle

Trump - “Trump is smart enough to realize that BTC as a treasury asset will help with the national debt.” - Chris

IN THE LOOP

🔒 Tether CEO Paolo Ardoino claims Bitcoin is the only truly decentralized cryptocurrency among over 14,000 others. At BTC Prague, he highlighted Bitcoin's fixed supply of 21 million and its immutable nature, contrasting it with other coins that frequently change their policies and are more centralized.

🐋 Tracking Bitcoin whale movements is popular on social media but offers little valuable market analysis, according to traders. Analysts like Glassnode's James Check and TXMC argue that interpreting whale activity is often misleading and lacks actionable insights. They suggest these metrics are more noise, rather than true indicators of market sentiment.

🗳️ Mining execs from Marathon, Riot, and CleanSpark launched the Bitcoin Voter Project to educate U.S. voters on Bitcoin. Registered as a 501(c)(4), the Bitcoin Voter Project is nonpartisan and aims to influence future political support for Bitcoin. The project has committed $5 million for voter education and engagement.

💰 Fidelity’s Jurrien Timmer called Bitcoin "exponential gold" and highlighted its potential as a store of value. He compared Bitcoin’s adoption to the growth of the internet and mobile phones, emphasizing its scarcity and increasing acceptance as key to its value.

VIDEO

Michael Saylor's BTC Prague speech argues why you should HODL Bitcoin. He reveals that 85-90% of S&P gains happen in one day annually and argues that trading Bitcoin reflects lesser intellect.

CHARTS & DATA

3 years and 282 days - The number of estimated time left until the 2028 halving.

1.15 - The Mayer Multiple has been reset, and now stands at just 1.15.

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