🟠 1M BTC

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 20,108 Minimalist members reading today. 👋 

Today we’re covering:

• Speculation on 1M US BTC reserve

• Bitcoin jumps past $85K after Fed policy shift

• Trump to speak at a major crypto conference today

• And everything else you need to know.

Estimated read time: 2 minutes and 57 seconds

WHAT WE’RE WATCHING

🇺🇸 President Donald Trump will address Blockworks' Digital Asset Summit in New York City on March 20. This marks the first time a sitting U.S. president speaks at a cryptocurrency conference. This underscores his administration's pro-crypto stance, including the recent establishment of a Strategic Bitcoin Reserve.

🏛️ Minnesota state Senator Jeremy Miller introduced the Minnesota Bitcoin Act, allowing state investments in Bitcoin and crypto. Initially a skeptic, Miller now advocates for BTC in retirement accounts, tax payments, and state reserves. The bill follows similar moves by 23 U.S. states supporting Bitcoin adoption.

📈 Bitcoin reclaimed $85K after the Fed announced a slowdown in quantitative tightening. The Fed will cut its Treasury runoff cap from $25B to $5B starting April 1, boosting global markets. Despite Bitcoin’s nearly 2% rise, most altcoins saw muted reactions, except Solana, which crossed $130.

🏦 Tom Emmer says Congress will enact a 1M Bitcoin reserve plan. The BITCOIN Act proposes acquiring 1 million BTC over five years, held for at least 20 years. Funded by Fed earnings, it limits sales to 10% every two years. Trump’s executive order separately focuses on seized BTC holdings.

⚡ Marty Bent argues that the Lightning Network will replace Stripe, Visa, and Mastercard. He highlights its 266% transaction volume growth since August 2023 and its cost advantages for businesses. With microtransactions and AI-driven payments on the rise, he sees Lightning as a serious competitor in global payments.

🌍 Reuters reports that Russia is using cryptocurrency in oil trade with China and India to bypass Western sanctions. While still a small fraction of its $192B oil market, usage is growing. Transactions involve converting yuan or rupees into crypto before exchanging them for rubles in Russia.

📈 PlanB rejects the bear market narrative. He cites Bitcoin’s 200-week arithmetic and geometric means staying close for over a year. He points to reduced volatility and a steady uptrend, with Bitcoin doubling from $20K to $40K in 2023 and from $40K to $80K in 2024.

IN THE LOOP

• Bitcoin outperformed global assets despite a market correction, with analysts predicting a potential rally to $200,000.

• Bitwise CIO Matt Hougan said Bitcoin follows a "dip then rip" pattern during crises like Trump’s tariffs, dropping sharply before rebounding with long-term gains.

• Michael Saylor said, "EUR gonna need BTC."

The most clicked link in our last newsletter was the Trump administration revealing plans to create a Strategic Bitcoin Reserve by acquiring up to 1 million BTC without taxpayer cost.

MACRO & INDUSTRY

• 83% of institutions plan to increase crypto allocations in 2025.

• Trump’s crypto advisor David Sacks criticized the media for misrepresenting his ethics-driven divestment as a crypto “dump.”

• Crypto.com reported $1.5 billion in revenue for 2024, becoming the third-largest exchange.

• Tether became the seventh-largest holder of U.S. Treasurys, surpassing Canada and Taiwan, as stablecoin adoption grows.

POLL

TUESDAY’S POLL RESULTS

What’s more likely?

🟩🟩🟩⬜️⬜️ 💰 Saylor goes from 500k to 1M coins (53%)

🟨🟨⬜️⬜️⬜️ 🏦 U.S. SBR accumulates 1M coins (30%)

🟥⬜️⬜️⬜️⬜️ 📈 Bitcoin goes to $1M by 2026 (17%)

💰 Saylor goes from 500k to 1M coins: “In a world full of uncertainty, unreliable players and market manipulation, we can still count on Saylor” — Austin

💰 Saylor goes from 500k to 1M coins: “Plausible & the least unlikely of the 3.” — James

💰 Saylor goes from 500k to 1M coins: “Saylor more driven and committed over any government entity.” — Chris

📈 Bitcoin goes to $1M by 2026: “By the process of elimination.” — Nate

VIDEO

📉 Rekt Capital argues that historical August drawdowns for Bitcoin should be analyzed in the context of the Halving cycle.

Pre-Halving August declines offer insight into potential retracements if market conditions worsen this month.

CHARTS & DATA

1YR HODL Wave - Bitcoin 1YR+ HODL wave has gone from a low of 61.7 to 62.7. This means long-term holders have slowed their rate of selling.

VDD Multiple - VDD Multiple has dropped to the green zone and now stands at just 0.7, a level usually seen before Bitcoin’s price goes up again.

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