🟠 BTC Politicians

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 Thursday to the 20,471 Minimalist members reading today. 👋 

Today we’re covering:

• Fed rejects central bank digital currency (CBDC),

• Trump plans national Bitcoin reserve,

• U.S. states push $23B Bitcoin reserves,

• And everything else you need to know.

Estimated read time: 2 minutes and 58 seconds

WHAT WE’RE WATCHING

🏦 Trump calls for lower interest rates alongside new tariffs. Lower rates generally boost Bitcoin by increasing liquidity and risk appetite, but Trump's tariffs could fuel inflation, delaying rate cuts. The Federal Reserve remains cautious, with Chair Jerome Powell signaling no rush to lower rates despite economic pressures.

💰 VanEck estimates state-level Bitcoin reserve bills could drive $23 billion in buying. Several U.S. states, including Texas and Florida, have proposed using public funds to invest in Bitcoin.

📉 Bitcoin dropped to $93K before rebounding to $98K, with investors realizing $520M in losses. Short-term holders bore the brunt of the sell-off, while altcoins suffered a record $234B market cap decline. Despite volatility, BTC remains in a broader uptrend, diverging from struggling altcoin markets.

🇺🇸 Tulsi Gabbard confirmed as Director of National Intelligence. The Senate voted 52-48 to approve her, with Mitch McConnell as the only Republican opposing. Gabbard, a Bitcoin advocate, has criticized CBDCs, calling them a threat to financial freedom. Her role overseeing U.S. intelligence could shape future Bitcoin policy debates.

🚫 Fed Chair Jerome Powell ruled out a U.S. central bank digital currency (CBDC) during his tenure, ending years of speculation. He cited privacy concerns and a lack of necessity. Powell also emphasized that any CBDC would require congressional approval, while promoting the FedNow system for instant payments.

🏆 Gold is flooding into the U.S. as institutions and governments prepare for economic turmoil. Massive gold transfers from London to U.S. vaults signal fears over tariffs, liquidity crises, and potential monetary resets. According to TFTC, Bitcoin follows gold’s rise, suggesting a breakout may be coming after its current consolidation phase.

₿ The Senate confirmed RFK Jr. as HHS secretary in a 52-48 vote. A strong Bitcoin advocate, Kennedy has invested most of his wealth in BTC and sees it as a hedge against inflation.

💰 Tether refutes JPMorgan’s claim that it may sell Bitcoin to meet US stablecoin regulations. With a $20B liquidity surplus and $1.2B quarterly profits, Tether insists compliance will be easy. CEO Paolo Ardoino mocked JPMorgan, suggesting analysts are “salty” for not owning Bitcoin.

IN THE LOOP

• The Wyoming Highway Patrol Association is exploring adding Bitcoin to its balance sheet through the "Get Off Zero" initiative.

• KULR increased its Bitcoin holdings to 610.3 BTC with a $10M purchase, reporting a 167.3% BTC yield.

• Former Greek Finance Minister Yanis Varoufakis criticized Bitcoin advocates for seeking institutional support after previously opposing central banks and Wall Street.

• The US released Russian Bitcoin fraud suspect Alexander Vinnik in a prisoner swap that brought home American teacher Marc Fogel.

• An Oklahoma bill allowing state investments in Bitcoin cleared its first legislative hurdle.

• Trump plans to nominate pro-crypto Brian Quintenz as CFTC chair.

The most clicked link in our last newsletter was from the Super Bowl where Saquon Barkley, Jack Dorsey, and Jack Mallers were spotted wearing Satoshi Nakamoto shirts.

POLL

TUESDAY’S POLL RESULTS

Is Tether a threat to Bitcoin?

🟥⬜️⬜️⬜️⬜️ 👍 Yes (8%)

🟩🟩🟩🟩🟩 👎 No (90%)

🟥⬜️⬜️⬜️⬜️🧐 Other (2%)

🧐 Other: “To the extent it can be frozen, it is vulnerable.” — Avery

VIDEO

🏛️ U.S. states could buy up to 247,000 Bitcoin through proposed bills, totaling $23 billion in potential investments.

Legislation in states like Oklahoma, Massachusetts, and Texas aims to add Bitcoin to reserves and pension funds, signaling growing institutional adoption.

This video breaks down each bill and gives an overview of where things stand.

CHARTS & DATA

STH MVRV - Short term holder MVRV is closed to dropping below 1.0.

Hashrate - Bitcoin hashrate hit an all-time high of 845.99 EH/s and is still climbing.

FROM THE ARCHIVE

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