Bitcoin Absorbs $10B In Sell Pressure Like It's Nothing

Happy Monday Bitcoiners - it’s Bam here with another weekly update!

Each week, we condense the most impactful news releases into a concise, easy-to-read update so you’re always in the know!

Notable events this week include 👇

• Trump storms the Fed to pressure Powell into cutting rates.

• From Strike to JPMorgan, the big boys are piling into Bitcoin lending.

• From German news to US sports podcasts, Bitcoin is finally getting praised.

Let’s dive in⚡

Weekly Live Stream 🚨

Join Rob Wallace this Monday @ 11 ET as he sits down with Bam (PlanB Network) and Q (Swan) to discuss Bitcoin’s surprising resilience amidst the most aggressive selling in Bitcoin’s recent history.

Latest News 📰

🙌 Adoption

• Flagship German news show, Tagesschau, airs a segment on Bitcoin’s impact in Kibera, one of Africa’s largest slums, a rare sign of legacy European media spotlighting Bitcoin’s role in financial inclusion.

• Pardon My Take, America’s biggest sports podcast, praises co-host Hank for dollar-cost averaging into Bitcoin over the past 4 years, calling it “the smartest thing he’s ever done”.

• Trump Media announces owning $2B in Bitcoin and Bitcoin-related securities, stating “We’re rigorously implementing our strategy and fulfilling our Bitcoin treasury plan”.

⚖️ Legal

• Crypto policy report from the President’s Working Group on Digital Assets to be released on July 30th and will include details on “the feasibility of a strategic national stockpile”.

• Japan’s Blockchain Association survey finds most Japanese Bitcoin investors would boost their holdings if the government introduced dedicated crypto tax reforms.

• The IMF confirms El Salvador’s total government-held Bitcoin remains unchanged, with the Strategic Reserve Fund’s growth reflecting internal wallet transfers.

📈 Markets

• PNC Bank announces a strategic partnership with Coinbase to develop an initial offering that will enable clients to buy, hold, and sell cryptocurrencies.

• Galaxy sells over 80,000 Bitcoin worth $9 billion in one day for a Satoshi-era investor, marking one of the earliest major exits from the digital asset market as part of an estate plan.

• Fidelity’s Bitcoin ETF has amended its trust agreement to allow in-kind creations and redemptions, meaning shares can be created or redeemed using bitcoin instead of cash, pending regulatory approval.

🏦 Treasury

• Strategy launches $STRC (“Stretch”), a preferred stock offering 9% yield and investor-friendly liquidation terms, and ends up raising $2.474 billion to buy more Bitcoin, making it the most successful IPO of 2025.

• Adam Back’s Bitcoin treasury firm, BSTR, is going public with over 30,000 BTC and $1.5B in fresh capital. It has recently revealed plans to grow its stack to 50,000 BTC soon, aiming for a top-tier treasury spot.

• In the past 7 days, 19 companies increased their holdings, bringing the top 100 public companies’ total to 920,866 BTC.

⛏️ Mining

• MARA raises $850 million in zero-interest convertible notes to buy more Bitcoin and already holds 50,000 BTC as the second-largest corporate holder after Strategy.

• Bitfarms launches a 49.9M share buyback after Riot cut its stake by 40%. CEO Ben Gagnon says the market undervalues their Bitcoin and HPC potential, as shares jump 16.8% on the news.

• Residents in Granbury, Texas, near MARA’s 300-megawatt Bitcoin mining facility in unincorporated Hood County describe life as “hell” due to constant noise, reports nonprofit More Perfect Union.

🗳️ Politics

• Trump visits Federal Reserve HQ to inspect the multi-billion dollar renovation and publicly tells Jerome Powell he should lower interest rates.

• Treasury Secretary Scott Bessent states, “We need to examine the entire Federal Reserve… All of these PhDs over there—I don’t know what they do. This is like Universal Basic Income for academic economists”.

• The UK’s planned sale of 61,250 seized BTC, tied to a 2018 Chinese fraud case, is legally contested, with Chinese authorities and victims demanding its return.

🧠 Bitcoin Trivia 🧠

Bam’s 2 Sats 🧢

The Premier Pristine Collateral

For years, the Bitcoin community has discussed Bitcoin as the ideal form of pristine collateral. In theory, its properties make it perfect for securing capital. But the problem has been twofold:

1. Bitcoin lacked broad recognition.

2. There were no reliable lenders offering loans against it.

Using Bitcoin as collateral does carry risks, especially when it involves giving up custody. But today, the landscape is improving: the industry is maturing, recognition is growing, and companies are offering better loan terms simply for owning Bitcoin.

That said, I still believe the risk in Bitcoin-backed loans falls disproportionately on the borrower.

When you buy a house, interest rates are low, but the lender carries the risk of not being able to resell the property. In Bitcoin lending, collateral can be liquidated instantly, and thus, lenders carry almost no risk. Yet interest rates remain unreasonably high.

We now have news from Strike that they are expanding their Bitcoin-backed lending services. At the same time, Jack Mallers is hinting at offering interest rates below 10% on borrowed capital.

As of today:

• Bitcoin is gaining both political and institutional recognition;

• Lenders are entering the market with better rates and new multi-party custody solutions.

It’s starting to happen. The path is being paved.

It’s not just Bitcoin-native companies joining the trend. This week, JPMorgan announced plans to explore lending directly against cryptoassets like Bitcoin next year, despite having one of Bitcoin’s most vocal critics as CEO.

It’s only been a few years, but as Bitcoin gains recognition as the new “oil,” Bitcoiners are emerging as the next generation of capital allocators—and credit markets must evolve to meet their needs.

Stay safe and keep on stacking!
-Bam

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