@ Felipe

🧠Quote(s) of the week:

'Forget price predictions. Forget market cycle theory. Forget market cap estimates. Forget diminishing returns. Forget omega candles. Forget technical analysis.

THE ONLY THING THAT MATTERS.

Your assumption should be that the future has way more productivity than the present. Bitcoin is only 0.2% of the present world. Imagine buying 1/500th of the world in 1925 and holding onto it to it was worth half of the world of 1950, 1990, or 2025… Bitcoin is cheap.' - Luke Broyles

Bitcoin is Time (great article by Der Gigi), and productivity's going digital, and Bitcoin’s the base layer.

🧡Bitcoin news🧡

Retail is absent from Bitcoin because at $100K, they think they have missed the boat. WRONG! https://i.ibb.co/2pmz4fS/Gqcjoxs-XEAAMl-BF.jpg

On the 5th of May:

➡️US Senator David McCormick discloses +$ 1.0 m Bitcoin purchase on recent dip.

➡️Bitcoin Knots just overtook the latest version of Bitcoin Core on Clark Moody's dashboard

➡️'Merchants in the City of Cannes, France will start accepting Bitcoin and crypto this summer, with the council aiming for 90% adoption.' - Bitcoin Archive

➡️River: Cash is king. Of killing savings. Beat inflation with a small bitcoin allocation. https://i.ibb.co/dJV9tvY8/Gq-MLy-Ag-Ww-AAXb-G.jpg

➡️150,000 people tuned into MicroStrategy’s earnings call. Not because of profits, but because they’re watching the blueprint for a Bitcoin-based financial system unfold in real time.

Pledditor: 'The class of 2024/2025 is stacking MSTR more than they are stacking BTC, and that's not a great thing.' Keep in mind, they've never been shown proof that Strategy holds Bitcoin in a cold storage wallet address. I can't find the MicroStrategy wallets holding 555,450 BTC. Can you?

On the 6th of May:

➡️'Serious report by Morgan Stanley. (You can read it here)

-Bitcoin has sufficient market cap to be a reserve, but it is more volatile than other reserve currencies.

-Volatility is decreasing.

-$370b allocation to Bitcoin would reflect market cap proportions.

-A reserve of 12%-17% of the total bitcoin supply would mirror other currency proportions.

Overton window has shifted.' - Troy Cross

➡️Daniel Batten: 'Bitcoin's environmental benefits have now been validated in 20 peer-reviewed studies, according to a recent Cambridge University report. It's also now being covered by 13 mainstream news outlets. How times change!' Here you can find all the articles.

https://x.com/DSBatten/status/1919521469090169127

On top of that, there are now 10 sustainable media magazines and news sites covering the environmental benefits of Bitcoin mining: https://x.com/DSBatten/status/1919518338092323260

Just imagine using only Bitcoin for transactions + store of value - while getting rid of all the banks and heavily reducing energy waste.

➡️UK Treasury’s Economic Secretary Emma Reynolds rules out national Bitcoin reserve. Says it's not “appropriate for our market.” HFSP

➡️Listed companies will invest about $205B in Bitcoin between 2025-2029, according to Bernstein.

➡️Dr. Jan Wüstenfeld: 'The Blockchain Group is ready to up their Bitcoin buying game. At their next Extraordinary General Meeting on June 10, they intend to increase their capital-raising capacity to more than €10 billion to accelerate their Bitcoin treasury strategy—at a Bitcoin price of €83k, that would be more than 120,000 Bitcoin. For reference, they currently hold 640 Bitcoin valued at €53.12 million. That is a significant capital raise.' https://i.ibb.co/k2SvJ0Ny/Gq-WTPx-Za-YAA89-UV.jpg

➡️New Hampshire passes Bitcoin Reserve bill into law! Governor Ayotte signed HB 302 into law this morning, making NH the first U.S. state to enact a Bitcoin Reserve bill.

➡️Regarding the Bitcoin Core debate. I am inclined to take the free market perspective, but I also do not want Bitcoin to be anything like ETH. If you really want to understand the Bitcoin Core debate, I suggest you go and read the actual Pull Request on GitHub. Or else read the great following thread by ColeTU: https://threadreaderapp.com/thread/1919769008439464335.html

➡️Publicly traded company Thumzup Media Corp files to raise $500 million to buy more Bitcoin.

➡️Strike just launched Bitcoin-backed lending - CEO Jack Mallers Where does the yield come from?

"By opening a loan, you authorize Strike to transfer your Bitcoin to a trusted third-party capital provider for the duration of the loan. Who?

"The fact 'no rehypothecation' isn't explicitly guaranteed, means you should probably assume this collateral will be rehypothecated." BitPaine

➡️The Bitcoin Dominance chart is one of the most ruthless things I've ever seen. 3 years straight of destroying alts and no signs of stopping.' - Bitcoin Isaiah https://i.ibb.co/NGGvxyN/Gq-RRKJJWMAEWPEG.png

➡️Two long-dormant Silk Road–linked wallets from 2013 moved 3,421 Bitcoin worth $322.5 million in their first transactions in over a decade.

➡️U.S. Spot Bitcoin ETFs are aggressively accumulating Bitcoin again. In the past 7 days, ETFs added over 16,549 coins, while only 3,150 were mined.

➡️Only 993,285 addresses have more than 1 Bitcoin.

On the 7th of May:

➡️Bitcoin is now up 383% since 2 ECB Bloggers wrote Bitcoin's obituary. https://i.ibb.co/b5KFCKBG/Fi7-AOz8-Uc-AAMlif.png

➡️ARIZONA's other Strategic Bitcoin Reserve bill, SB 1373, moves to Governor Hobbs' desk for signing. Last week, she vetoed the Bitcoin Reserve Bill SB 1025.

➡️Fintech Revolut to integrate the Bitcoin Lightning network. Revolut is now partnering with Lightspark. This will allow Revolut users to send Bitcoin instantly and with lower fees.

➡️Strategy has a larger treasury than Apple. https://i.ibb.co/0p81LqPg/Gq-TULsv-Ww-AA6-Plw.jpg

➡️ 7,200 BTC taken off exchanges yesterday and 103,000 the last month.

➡️ Metaplanet issues $25M in zero-coupon bonds to buy more Bitcoin.

➡️Bitcoin News: "Bitcoin’s volume-weighted market cap dominance is 93%. Unlike simple market cap, this metric factors in actual trading volume, revealing where real liquidity and demand are. Ignore it at your own peril."

➡️ New Hampshire is enacting a Bitcoin Strategic Reserve. Governor Ayotte signed HB302 into law.

➡️Bhutan becomes the 1st nation to implement nationwide Bitcoin payments for tourists.

On the 8th of May:

➡️Bitcoin to be completely exempt from capital gains tax under bill passed by the Missouri House.

➡️ Arizona Governor officially signs law to establish a Strategic Bitcoin Reserve Fund. https://i.ibb.co/d0Fpg3bH/Gqc-Ewoo-WUAAe-SLp.jpg

➡️ Oregon passed Senate Bill 167, updating its Uniform Commercial Code (UCC) to include Bitcoin and other digital assets. This new law recognizes digital assets as valid collateral and acknow ledges electronic records and signatures in commercial transactions.

➡️ UAE's state-owned oil giant Emarat accepts Bitcoin and crypto payments at petrol/gas stations.

➡️Standard Chartered Bank analyst apologizes for $120,000 Bitcoin price prediction, says target 'may be too low.'

➡️ 'The Texas House committee has approved SB 21; next steps are a Texas House vote by all members and the governor’s signature. It looks likely that Texas will have a Strategic Bitcoin Reserve, the big open question is how much BTC will be acquired.' -Pierre Rochard

➡️ A month ago first Bitcoin payment was made at a supermarket in Switzerland – Spar in Zug. Interesting data from Swiss supermarket payments (source @OpenCryptoPay): Even though they can be done with practically all "crypto," 90.8% of payments are in sats, 5.3% in stablecoins, 1.2% in WBTC. 20+ transactions per day. Amazing!

On the 9th of May:

➡️'Steak n Shake is accepting Bitcoin payments at all locations starting May 16, making the cryptocurrency available to our more than 100 million customers. The movement is just beginning…' - Steak 'n' Shake Steak 'n Shake has 393 locations, primarily in the Midwest and the South. https://i.ibb.co/fddLCSsT/Gqd-d-Oq-Wc-AAQVMz.jpg

➡️Bitcoin is now the 3rd largest commodity in the world by market cap! 1. Gold = $22 trillion 2. Oil = $3 trillion 3. Bitcoin = $2 trillion Bitcoin is among the top 5 biggest global assets with a +2 TRILLION market cap. Bigger than Amazon and Google (Alphabet) https://i.ibb.co/XkvShGFC/Gqgc-y-IXIAIa-G2-I.jpg

➡️Sam Callahan: A new BIS paper on Bitcoin dropped yesterday. To cut through the jargon: It concluded that Bitcoin use rises when inflation surges, remittances get pricey, and capital controls increase. In other words, when people need it most. Source

➡️ Bitcoin Archive: "Amazon, Tesla, & Google all had BIGGER drawdowns than Bitcoin in the last 6 months, & nobody says they are "too volatile". LAST ~6 MONTHS

• AMAZON -33%
• TESLA -56%
• GOOGLE - 32%
• BITCOIN - 31%

Is Bitcoin volatile? Sure, but... ONLY BITCOIN BOUNCED BACK TO PUSH FOR NEW ALL-TIME HIGHS!"

➡️ If you own 1 WHOLE Bitcoin, you're a millionaire in 50 currencies. If you own 0.5 Bitcoin, you're a millionaire in 20-25 currencies. For example, the Turkish Lira has literally gone to ZERO against Bitcoin. The ultimate fate of every fiat currency, some will just get there faster than others Owning 1 BTC will make you a millionaire in ALL currencies in the next decade or so.

➡️ Former PayPal Vice President says Bitcoin Lightning Network will welcome “dozens of digital banks and wallets” and enable 100s of millions of people to receive Bitcoin-powered payments by the end of Q3.

➡️ Coinbase just disclosed in their Q1 filing: they custody 2.68 million bitcoin. That’s over 13% of all Bitcoin in circulation, on one platform. Is this the greatest honeypot in financial history? Yes, it is...read next week's Weekly Bitcoin update.

➡️ FORTUNE: “Meta is in discussions with crypto firms to introduce stablecoins as a means to manage payouts, and has also hired a vice president of product with crypto experience to help shepherd the discussions.” When Bitcoin?

➡️ 344,620 new Bitcoin wallets created as price surges to $103K, according to data from Santiment.

➡️ Great post + article by Parker Lewis: Bitcoin is Money https://x.com/parkeralewis/status/1920875453893443994

Discover alignment!

Remember Satoshi's first words: 'A purely peer-to-peer version of electronic cash'

➡️Goldman Sachs has boosted its stake in BlackRock’s iShares Bitcoin Trust (IBIT) by 28%, now holding over 30.8 million shares valued at more than $1.4 billion as of March 31, according to an SEC filing.

On the 10th of May:

➡️TeraWulf posted Q1 2025 revenue of $34.4M, down 19% from last year, as the Bitcoin Halving and power costs pressured margins. The company mined 372 BTC, with a sharp rise in power cost per coin to $ 66 K.

On the 12th of May:

➡️Strategy has acquired 13,390 BTC for ~$1.34 billion at ~$99,856 per bitcoin and has achieved BTC Yield of 15.5% YTD 2025. As of 5/11/2025, we hold 568,840 Bitcoin acquired for ~$39.41 billion at ~$69,287 per Bitcoin.

➡️$66 billion Dell officially rejects shareholder proposal to add Bitcoin to treasury.

➡️'The correlation of Bitcoin and M2 is staggering. Bitcoin continues to follow the Global M2 Money Supply (not liquidity) with a 70-day lag. When I made this chart last July, I didn't think it'd hold this tight of a relationship. M2 is a poor measure of money supply, but it's still fascinating to observe.' - Joe Consorti

https://i.ibb.co/gZy1m0rm/Gqs2-Oc-HXMAA-Qp-U.jpg

➡️Businesses are the largest net buyers of bitcoin so far this year, led by Strategy, which makes up 77% of the growth.

➡️Missouri moves to become the first U.S. state to eliminate capital gains tax on Bitcoin with the passage of HB 594.

➡️99% of Bitcoin will be mined by 2035. https://i.ibb.co/67t0PGtY/Gqu9qll-WUAUxwr-S.jpg

💸Traditional Finance / Macro:

On the 7th of May:

👉🏽Warren Buffett now owns an astonishing 5.1% of the entire U.S. Treasury Bill Market.

🏦Banks:

👉🏽 No news

🌎Macro/Geopolitics:

One of the intentional consequences of the inflationary fiat system: the evil regulatory noose auto-tightens.

Thomas Greif:

The Bank Secrecy Act, established in 1970, required reporting cash transactions above $10,000.

Today, 55 years later, that threshold remains unchanged.

But $10,000 ain't what it used to be back in 1970.

To give you an idea of just how much money $10,000 was back then: - The US Median household income was $9,870 - The average US house costs approximately $23,000 - Chevy Impala, the best-selling car in the US in 1970, had a starting price of $3,200

So you could go to your Chevy dealer and buy three Impalas in cash without triggering the cash transaction reporting requirement.

Today, thanks to the lack of adjustment for inflation, far smaller purchases like a high-end Apple Mac Studio computer purchased with cash would trigger a reporting event. Adjusted for inflation, the threshold should be $82,422 today. At the rate they are printing money, in a couple of decades, you'll need to report every other grocery shop.

https://i.ibb.co/G4d5w4Wc/Gq-SEPi-Xw-AAf-Umf.jpg

On the 5th of May:

👉🏽'Foreign Demand for U.S. Treasuries COLLAPSES as America Faces Record Debt Rollovers ($7 Trillion) and a $1.9 Trillion Deficit in 2025 alone. The buyers are gone, the bills are due, and the clock just struck midnight.' - CarlBMenger

P.S.: Just to make it even more obvious. The Fed just spent $20BN on 3-year bonds, their largest single-day purchase since 2021. Are they injecting liquidity instead of cutting rates to avoid panic?

👉🏽TKL: "World central banks have benefited from rising gold prices: The value of developed market central banks’ gold holdings has risen by ~$600 billion, or 90%, to a record $1.3 trillion since 2022.

At the same time, emerging market central banks’ gold value has doubled to a record $800 billion. This comes as gold prices have skyrocketed 105% since the October 2022 low.

Moreover, EM and DM central banks have increased their holdings by 10% and 1%, respectively, during this time. In 2022-2024, world central banks bought a whopping 3,176 tonnes of gold. Demand for gold has never been stronger."

Luke Gromen:

'Summary of the last 5 days in gold: US paper traders shorted gold while China was on holiday. Chinese traders bought physical gold upon returning from their holiday. Lost amidst the noise: China increasingly controls global gold prices, which has major implications for FX over time.'

https://i.ibb.co/TDVDCkdw/Gq-RRKJJWMAEHAAL.png

On the 6th of May:

👉🏽Good Morning from Germany, where Friedrich Merz has fallen short of a majority in the first round of the chancellor vote—something that has never happened before in German history. He received 310 votes, 6 short of the 316 needed for a majority in parliament.

👉🏽The European Union is targeting €100 billion of US goods with tariffs if trade talks fail.

👉🏽US trade balance falls to -$140.5 billion, the worst month in history On that same day...

👉🏽Treasury Secretary Bessent says, "The United States Government will never default. We will raise the debt ceiling."

👉🏽Manfred Weber of the EPP, a European political group:

"The Romanian Social Democrats' decision not to back the pro-European presidential candidate is simply unacceptable. I expect a clear commitment—no room for political games as extremism rises. We fully back the decision of our member parties to show their support for Nicușor Dan."

The EPP, as a European political group, has no direct role in Romania's internal political decisions, and such an action is an attempt to influence national political dynamics. What democracy and European values is he talking about?

But when J.D. Vance makes critical remarks about Germany, it’s called interference in domestic politics… Apparently, this isn’t. Now, don't get me wrong, I am not picking sides on this matter, but the hypocrisy is nauseating and the double standards are unbearable.

On the 7th of May:

👉🏽"Attracting scientists to the EU with half a billion euros"

https://fd.nl/politiek/1554495/met-een-half-miljard-euro-wetenschappers-naar-de-eu-trekken

An important question is not addressed in this article: Who is going to pay for this? / How will it be financed? Will it come at the expense of EU researchers?' - Lex Hoogduin

And even more crucially: what kind of 'scientists' is the EU trying to attract? This comes just a day after revelations that it misused Covid money. Journalism, anyone?

👉🏽China's central bank cuts key rates, injects 1 trillion yuan, 3 hours after agreeing to trade talks to prop up the economy and give the communist party ammo for negotiations.

Meanwhile...

👉🏽SUMMARY OF FED DECISION: 1. Fed leaves rates unchanged for 3rd straight meeting 2. Fed says inflation remains "somewhat elevated" 3. Uncertainty about outlook has "increased further" 4. Risks of higher unemployment and inflation have risen 5. The Fed is attentive to risks to both sides of its mandate 6. Fed appears to see a higher risk of stagflation ahead The Fed pause continues despite Trump's calls for cuts.

👉🏽The European Central Bank (ECB) plans to partner with the private sector to develop a digital euro. In a press release, the ECB claimed that findings will “be shared in a report later this year.”

👉🏽Another blow to North Sea wind: Ørsted is pulling the plug on the 2,400 MW Hornsea 4 offshore wind project, accepting a €500 million loss. This comes despite having a Contract for Difference (CfD) agreement with the UK government. Source

Imagine being a pension fund heavily invested in the Danish fairytale called Ørsted. That so-called “blue bond” for “enhancing biodiversity” is starting to look more like a financial “blue bruise.”

👉🏽France’s President Macron: We have to rethink our economic fundamentals. You don't say, this doesn't sound good. Is that the same France that had its last budget surplus in 1974 and is basically a broke country? France, indeed, might start to rethink its annual 6% national deficit. That stacks fast.

👉🏽Germany’s Chancellor Merz: EU fiscal rules could be softened for defense.

👉🏽Treasury Secretary Scott Bessent said, "We believe that the US should be the premier destination for digital assets."

👉🏽 Failed oversight of the EU’s multi-billion euro COVID recovery fund spending. Typical: the Netherlands receives a mere fraction from the fund — in other words, it’s paying for other countries.

And with such massive spending, it’s hardly surprising that we’re seeing such rampant inflation. For the Netherlands, this involves €5.4 billion in grants, of which €2.5 billion has already been received. The funds are being used for investments in, among other things, renewable energy.

That’s called corruption.

The European Court of Auditors further states that member states have received funds for projects without any clear evidence they will ever be completed, pointing to weak oversight mechanisms, for which the countries themselves are responsible. If this were a private company, the CEO would be facing a courtroom.

Fortunately, there will be strict oversight on the €800 billion earmarked for European defence! RIGHT!? RIGHT!?????

Source

👉🏽'Interest payments on US debt declined by -$13.5 billion in Q1 2025, to an annualized $1.11 trillion, the lowest since Q2 2024. This marks the first quarterly decline in interest payments since 2020. However, interest expense on national debt is still TWICE as high as it was 5 years ago. Currently, the government spends over $3 billion per day on interest. As a % of GDP, interest payments reached 3.7%, and currently stand just below 1980s-1990s levels. Reducing US debt must remain a top priority.' -TKL

👉🏽 Merz, Bundeskanzler der Bundesrepublik Deutschland, "There are €3.8 trillion in savings sitting in (German) bank accounts. Just imagine if we could mobilize just 10% of that." "What we lack is not capital, but the right instruments to mobilize it."

In other words, Merz—like Macron is eyeing citizens' savings to finance “investments.” Which investments, exactly? Take your pick.

Germany, for example, is the second-largest donor of military aid to Ukraine, contributing over €10 billion — roughly the same amount needed to maintain all federal roads and bridges in Germany for an entire year.

May I remind you that Ursula von der Leyen has already made it clear that they plan to rob EU citizens of their savings?

On the 8th of May:

👉🏽 Bank of England just cut interest rates by 0.25% to 4.25%, citing Donald Trump’s tariff trade war as one of the key reasons.

👉🏽"Between 2015 and 2030, the price of a car like the Renault Clio will have increased by 40 percent — 92.5 percent of which is due to regulation," says Renault CEO Luca de Meo.

👉🏽 Geiger Capital: 'The train is out of control… The first 7 months of FY 2025 produced a deficit of $1.1 trillion. That’s $196 billion more than the deficit recorded in the same period last fiscal year. On track for a $2 TRILLION annual deficit.'

On the 9th of May:

👉🏽"The gold exists only for a tiny fraction of a second." Still, it's only a matter of time before that’s solved technologically. Gold has an expiration date as a limited store of value. Deal with it.

The problem with gold is that when its value increases, it becomes more profitable to increase the quantity mined.

The quantity of BTC mined can not be increased; it gets cut in half every ~4 years. No matter how much the value of BTC increases.

👉🏽 I have shared the following chart multiple times... https://i.ibb.co/1JQj4HCX/Gqh-Gnp-DXMAE3-TDV.jpg

Michael A. Arouet: "Spain and Italy have the largest unfunded pensions in Europe, at about 500% of GDP. They also happen to be the two countries with the lowest fertility rates in Western Europe. Dear Spanish and Italian friends, don’t count that you will be able to live comfortably in retirement."

For the people here in the Netherlands, this thing is a freaking ticking bomb. Pension sustainability is a continent-wide concern.

So when von der Leyen talks about tapping into pension funds for the next “crisis” fund, what she’s really referring to is the Netherlands, Denmark, and Sweden — the countries with the largest, well-managed pension reserves.

Oh, and we are in the midst of the biggest change of our (Dutch) pension system...

On the 10th of May:

👉🏽Pakistani Prime Minister Shehbaz Sharif calls a meeting with officials in charge of overseeing the nuclear weapons arsenal. Yikes!

On the 12th of May:

👉🏽'Global debt soared $7.5 trillion in Q1 2025, to a record $324 trillion, according to IIF data. Emerging markets accounted for 50% of the jump, with total EM debt hitting a record $106 trillion. China was the primary driver of the debt increase, with debt levels rising by ~$2 trillion. Over the last 2 years, total world debt has surged by a whopping $20 trillion. Meanwhile, the global debt-to-GDP ratio fell slightly to 325%, the lowest since 2020. However, the ratio for emerging markets hit a record 245%. The debt crisis is a global issue.' -TKL

https://i.ibb.co/8ns9TY2v/Gqwkj-Ru-W0-AABu-Y7.png

Just look at the chart & the numbers and ask yourself, do we really have a solution?

🎁If you have made it this far, I would like to give you a little gift:

What Bitcoin Did - The True Cost of the Dollar Empire with Lyn Alden They discuss: - The Trade Deficit - Tariffs - The Price of the USD Hegemony - Bitcoin As a Neutral Reserve Asset

https://youtu.be/GI-f8V8FGGM

Credit: I have used multiple sources!

My savings account: Bitcoin The tool I recommend for setting up a Bitcoin savings plan: PocketBitcoin especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly.

Use the code SE3997

Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple. ⠀ ⠀

⠀⠀ ⠀ ⠀⠀⠀

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⭐ Many thanks⭐

Felipe - Bitcoin Friday!

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