Welcome to Issue 138 of the Bitcoin Breakdown, where we are quite content with the establishment postponing the inevitable divorce between money and the State. Sats won’t be this cheap once the Revolution is in full swing. Enjoy it while it lasts.
THIS WEEK'S QUICK BITS
El Salvador reportedly cucks to the IMF and agrees to make Bitcoin acceptance optional to secure a $1.3B IMF deal and international financial support.
El Salvador uncovers $3 trillion in outdated shiny metal called gold and considers converting wealth into the superior digital asset, Bitcoin.
Amboss introduces Magma AI, a machine learning-powered channel recommender for the Lightning Network aimed at enhancing liquidity and improving individual business operations, respectively.
David Sacks, Trump’s incoming AI and crypto czar, calls for a review of ‘Operation Choke Point 2.0’ after accusations of harm to the Bitcoin and crypto industry.
Fran Finney, wife of Bitcoin pioneer Hal Finney—the first Bitcoin transaction recipient—joins Nostr and earns over one million sats.
Bernstein analysts see quantum threats to Bitcoin as decades away despite Google’s progress with its Willow quantum chip.
The Economist reports Bitcoin is evolving from speculative hype to a more traditional, risk-on asset correlated with broader financial markets rather than relying on innovative use cases.
BlackRock recommends allocating up to 2% of portfolios to Bitcoin, further acknowledging its potential as ETF assets exceed $113B and institutional interest grows.
Byte Federal, a Bitcoin ATM operator, discloses a data breach exposing the personal data of 58,000 users, including names, addresses, and social security numbers.
WabiSabi protocol vulnerability identified by Ginger Wallet developers allows malicious coordinators to deanonymize users by tracking inputs and outputs.
Alabama state auditor calls for Bitcoin reserve to future-proof the state's economy, attract Bitcoin investments, and position the state as a leader in the industry.
A source close to Donald Trump's transition team claims he plans to monitor Bitcoin prices closely, viewing it as a ‘stock market alternative’ and hoping for a $150K price early in his presidency, Axios reports.
Russian State Duma member proposes a Bitcoin national reserve as a strategic move to strengthen Russia's financial stability following recent reforms in Bitcoin mining and taxation.
Amazon shareholders propose the adoption of a Bitcoin treasury, citing inflation risks and growing corporate interest.
US Treasury acknowledges Bitcoin as ‘digital gold’ in a December 2024 report, recognizing its role as a store of value in emerging economies.
Antoine Riard, a Bitcoin developer, exposes critical bugs in the Lightning Network that could allow attackers to steal millions, prompting urgent software patches.
Goldman Sachs CEO announces the firm will consider becoming a Bitcoin spot market maker as US regulations undergo significant changes, describing it as having no inherent reputational risks.
Peter Schiff, Gold bug and long-time Bitcoin denier, warns that government-backed Bitcoin adoption could inflate the US dollar’s money supply and threaten the global dominance of the dollar.
Schiff also advises Biden to sell all US Bitcoin holdings before leaving office to reduce the budget deficit and prevent a strategic reserve.
MicroStrategy joins the Nasdaq-100 Index due to its strong stock performance, highlighting the growing institutional recognition of Bitcoin.
KENFIBA, Kenya's fire brigade union, embraces Bitcoin to boost firefighting capacity, becoming the nation's first labor union to hold BTC.
Russian researchers create a tool to detect Bitcoin and crypto crimes, aiding investigations with blockchain visualization.
Australian regulator compares Bitcoin to prison currency, sparking industry worries over strict regulations and showcasing outdated perspectives.
Japan's Digital Minister Taro Kono shares a photo of himself mining Bitcoin with a Bitaxe, using Jack Dorsey-backed Ocean mining pool software.
Hunter Beast, a Bitcoin developer, says ‘Quantum computers just went from the equivalent of lots of vacuum tubes to a transistor. Just one transistor, though.’
Japanese lawmaker Satoshi Yamada urges the government to establish a strategic Bitcoin reserve amid global interest following Trump's US election.
Ukraine aims to legalize Bitcoin by early 2025, focusing on strict fiscal oversight and regulation without offering any tax incentives.
Bitcoiner claims he crashed 70% of the Dogecoin network with an old laptop.
Texas legislators propose accepting taxes and fees in Bitcoin, holding it as a strategic reserve.
Andreessen crypto policy lead Quintenz emerges as a top contender to lead the Commodity Futures Trading Commission, steering the regulator toward favorable Bitcoin and crypto policies under Trump.
Sygnum predicts that ‘demand shocks’ from institutional investors in 2025 will drive bitcoin's fiat exchange rate higher.
Hut 8 shares soar 12% amid rumors of a data center deal with Meta, yet neither company confirms such a partnership.
Satoshi-era Bitcoin buyer sentenced to two years for lying about $3.7M in Bitcoin gains, marking first-ever US Bitcoin tax evasion prosecution.
UK businesses urged to disclose their current and projected Bitcoin and crypto exposures by March 2025.
Regulated exchanges dominate Bitcoin trading volumes despite maximalists’ skepticism, highlighting a shift toward KYC compliance and institutional stability.
Bitwise predicts bitcoin will eclipse gold by 2029, aiming for over $200,000 amid rising institutional adoption and supportive regulatory tailwinds.
Iran's rogue Bitcoin miners are allegedly causing blackouts by exploiting ultra-low electricity rates.
Thailand explores bitcoin as legal tender through the Phuket pilot program proposed by former Prime Minister Thaksin Shinawatra to test everyday transactions.
Argentina plans to allow Bitcoin for transactions in 2025 policy, finally embracing economic flexibility and digital integration.
John Carvalho, a Bitcoin developer, proposes redefining one bitcoin as one satoshi to simplify the currency, facing criticism from change-averse skeptics.
MicroBT unveils the new WhatsMiner M6XS++ series at Bitcoin MENA 2024, showcasing advancements in solar and hydro-cooling technology for green mining.
NFL star Odell Beckham Jr, who took his $750,000 salary in bitcoin back in 2021, pokes fun at naysayers.
Coincheck, a Japanese exchange, becomes the second major exchange to go public on Nasdaq after Coinbase, with an initial market cap of $1.3B.
Microsoft shareholders overwhelmingly reject the proposal to invest 1% of its treasury in Bitcoin, with only 0.55% of the vote coming out in favor of it.
Bhutan transfers 402 BTC worth $49M to Binance and QCP Capital, leveraging market fluctuations to maximize earnings from its strategic sell-off.
BlackRock’s Bitcoin ETF surpasses over 50 European funds combined, leading the market with nearly half of all Bitcoin ETF assets.
Eric Trump champions Bitcoin as the ultimate hedge for real estate investors during an interview at the Bitcoin MENA 2024 Conference.
Ray Dalio, known for his long-standing expertise in economic trends, advises investing in Bitcoin and gold while avoiding debt assets, citing rising global indebtedness.
Riot Platforms, a mining company, announces $500M through convertible notes to fund Bitcoin purchases after mining 1,104 BTC in Q3, boosting holdings to 10,427 BTC.
Jetking Infotrain becomes India's first publicly listed company to adopt a Bitcoin Treasury Strategy, acquiring 12 BTC valued at $1.2M.
Marathon Digital, a mining company, invests $1.1B in Bitcoin, bringing total holdings to 40,435 BTC, following industry trends set by firms like Riot Platforms.
MicroStrategy acquires 21,550 BTC for $2.1B, increasing its total holdings to 423,650 BTC, valued at $25.6B.
Bitmain expands its production line into the US to improve supply chain efficiency despite ongoing trade tensions and delays in ASIC deliveries.
Bitcoin market experiences the largest liquidation event since 2021, as $1.6B is wiped out amid aggressive selling and unusual market conditions last week.
Florida pension fund announces it will invest $1.85B in Bitcoin, marking a significant step toward creating a strategic Bitcoin reserve.
Marathon Holdings purchases 114MW wind farm in North Texas to power Bitcoin mining operations with 100% renewable energy.
Michael Saylor urges the US government to dump gold and acquire Bitcoin, echoing Grayscale’s 2020 Drop Gold campaign to position BTC as the world’s reserve asset.
BitOasis receives a full VASP license from Dubai’s regulator, allowing the service to offer enhanced Bitcoin and crypto trading services.
Paybis, a Bitcoin and crypto onramp in Europe, integrates PayPal to simplify its services.
Yellow Card, an Africa-based fiat-to-Bitcoin platform, partners with Lightspark to enhance cross-border payments across 20 African countries, integrating their Universal Money Address functionality.
GrapheneOS, an open source, privacy, and security-focused Android operating system project, condemns Revolut's ban on its users due to the anti-competitive Play Integrity API, calling out their false claims about compatibility.
Former Binance CEO predicts that China will inevitably build a strategic Bitcoin reserve, following trends in other countries, despite the government’s lack of transparency.
Security firm warns that scammers are using fake X accounts and malicious Telegram bots to inject malware into smartphones and steal Bitcoin.
Coinbase lawsuit reveals Federal Deposit Insurance Corporation’s ‘pause letters’ instructing financial institutions to halt Bitcoin and crypto-related activities, fueling concerns over regulatory interference.
Bitwise, a $5B asset manager, predicts the Bitcoin price will hit $200,000 in 2025.
Bitcoin Policy UK appoints financial analyst and journalist Susie Violet Ward as CEO to drive UK leadership in Bitcoin policy.
Relai, a Swiss Bitcoin-only exchange, secures $12M Series A funding led by Ego Death Capital to enhance its Bitcoin self-custodial app.
Hong Kong's Treasury Secretary signals potential state fund investments in Bitcoin and crypto as part of a strategy to diversify portfolios.
El Salvador partners with Argentina to collaborate on Bitcoin policy, and has talks underway with over 25 nations for similar partnerships.
Nexbridge introduces tokenized US Treasuries on the Liquid Network, increasing accessibility and liquidity and reducing intermediaries in traditional finance while leveraging Bitcoin’s security.
THIS WEEK'S QUICK BITS
Jack Mallers, CEO and founder of Strike, in a podcast interview with YouTuber Tim Pool, says Donald Trump will likely issue an executive order on his first day in office to designate Bitcoin as a reserve asset, leading to a significant price increase.
Eric Trump says Trump will be the most pro-Bitcoin and crypto president in the history of America in an extraordinary bullish Bitcoin keynote speech at the Bitcoin MENA 2024 conference.
Michael Saylor explains to an insufferable Dave Portnoy of Barstool Sports how and why he is wrong about Bitcoin.
Chris Giancarlo, former CFTC Chairman, calls Bitcoin ‘digital gold’ in a Fox News interview and asserts its time has come during a Fox News interview.
Senator Cynthia Lummis suggests on CNBC funding a US Strategic Bitcoin Reserve by marking the Fed’s gold certificates to market value and selling them.
Danny Knowles, the new host of the ‘What Bitcoin Did’ podcast, discusses the Samourai Wallet case with defense attorney Roger Burlingame and Zack Shapiro of the Bitcoin Policy Institute.
Matthew Pines of the Bitcoin Policy Institute gives a presentation at Bitcoin MENA 2024 on how Bitcoin is transforming from a speculative asset into a key player in global geopolitics as the global economic balance shifts.
Matthew Kratter of Bitcoin University discusses the recent Tucker Carlson’s recent interview with Roger Ver, cheerleader for the failed B-Cash fork, revealing Ver's misleading narrative surrounding the Bitcoin blocksize wars and spotlighting his past controversial actions.
Marty Bent, Ten31 Partner and host of the TFTC podcast, and Justin Sun, founder of the Tron network, face off in a Bitcoin vs. Crypto debate at Bitcoin MENA 2024.
Ricardo Salinas, the third richest man in Mexico, emphasizes that holding Bitcoin is no longer an investment but a transformative way of life for financial freedom at Bitcoin MENA 2024.
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