Bitcoin ATH in Sight (Weekly, Monthly and Yearly Timeframes)

Happy Monday Bitcoiners - it’s time for another weekly update!

Each week, our team saves you time by curating the most impactful events into a concise, easy-to-read update.

Notable events this week:

• Metaplanet overtakes Tesla as the 7th-largest Bitcoin treasury.

• Bitcoin holdings may be eligible toward US mortgages.

• Miners go dark, causing one of the largest Bitcoin difficulty drops in years.

Let’s dive in⚡

Latest News 📰

🙌 Adoption

• BTC Prague processed 7,079 Lightning transactions totaling 0.5885 BTC, all through BTCPay Server, demonstrating real-world Bitcoin payments at scale.

• Lightning Labs releases Taproot Assets v0.6, enabling stablecoins and other assets to be minted on Bitcoin and sent instantly over the Lightning Network, transforming it into a multi-asset network secured by Bitcoin.

• Ledger is phasing out the Nano S, urging users to upgrade and warning future support isn’t guaranteed and will require re-entering their seed phrase into a new device.

⚖️ Legal

• The Federal Reserve will no longer use “reputational risk” as a factor in bank supervision, closing a loophole often used to deny services to legal industries like Bitcoin.

• US Federal Housing Director orders Fannie Mae and Freddie Mac to consider cryptocurrency as a reserve asset in assessing risk for single-family mortgage loans.

• Texas allocates $10 million in public funds to create a standalone Bitcoin reserve after signing SB 21 into law (no Bitcoin has been purchased yet).

📈 Markets

• Bitcoin treasury companies add over 12,000 BTC to their reserves this week, nearly 4x the 3,150 BTC mined over the same period.

• Bold launches a virtual Visa debit card offering up to 10% back in Bitcoin on all purchases, the highest rewards rate currently available among Bitcoin cards.

• CoinShares' survey of 500 investors, including high-net-worth individuals, found 82% prefer financial advisors offering Bitcoin and digital asset investment support.

🏦 Treasury

• Anthony Pompliano announces a $1B merger to form ProCap Financial, raising over $750M, the largest initial raise for a public BTC treasury company and purchases 4,932 BTC in the first week.

• Metaplanet acquires 1,111 BTC followed by another 1,234 BTC, surpassing Tesla to become the 7th largest corporate Bitcoin holder. They now hold 12,345 BTC on their balance sheet.

• Green Minerals, a publicly traded company in Norway, announces plans to acquire $1.2 billion worth of Bitcoin, becoming the first company from the traditional mining sector to adopt a bitcoin reserve strategy.

⛏️ Mining

• Bitcoin difficulty drops 7.48%, one of the biggest declines since 2021. The drop is mainly due to U.S. miners curbing activity during the recent heat wave, with some speculating offline Iranian miners may also be the culprit.

• Bit Digital will sell its 417 BTC, exit the Bitcoin mining business, and fully transition into an Ethereum staking and treasury company (its stock precipitously on the news announcement).

• Bitcoin miners face their lowest daily revenue in a year, dropping to $34M in June, due to declining fees and a falling Bitcoin price.

🗳️ Politics

• Germany and Italy, holding the second- and third-largest gold reserves globally after the US, are facing growing pressure to repatriate $245 billion in gold stored in New York.

• Fed Governor Michelle Bowman signals a possible rate cut in July, noting that tariffs may have a less significant impact than expected. With global rate cuts underway, pressure is mounting on the Fed to follow suit.

• Crypto Czar David Sacks says crypto market structure legislation, including the CLARITY Act, will be finalized by September, aiming to define SEC/CFTC roles and establish clear digital asset regulations.

🧠 Bitcoin Trivia 🧠

Bam’s 2 Sats 🧢

The Corporate Race Is On [Part 8]

This week, Trump declared a ceasefire between Israel and Iran on Truth Social, dropped an F-bomb on the White House lawn when talks looked shaky, and just like that, “peaceful times” returned. Bitcoin surged on the news, now hovering between $106K and $108K.

Despite war threats, bombs dropping, and real risk of escalation, while traders panicked, closed positions, and prepared to short, one group remained unfazed: the Bitcoin treasury companies.

This group carried on through the weekend and into the week, announcing new stacking plans, fresh BTC purchases, and capital raises focused entirely on buying more Bitcoin.

Here’s a glimpse of last Monday’s “Bitcoin Treasury” headlines:

The “hype” appears to be accelerating, with Bitcoin treasury companies recruiting high-profile influencers to stand out amid a flood of new entrants.

In the past few days:

– Joe Burnett joined Semler Scientific as Director of Bitcoin Strategy.
– Steven Lubka joined Nakamoto as Vice President of Investor Relations.
– Anthony Pompliano launched his own initiative, ProCap BTC.
– Sam Callahan joined the advisory board of LQWD Tech.

All of this is part of the race to raise capital and stack more sats. From my perspective, it boosts the Bitcoin network by driving constant demand. But it also dilutes the premium any single company can claim as a “Bitcoin play.”

There’s nothing inherently wrong with a diluted premium, unless you bought in at a high mNAV, hoping to outperform Bitcoin, and end up with less BTC than if you’d simply held the asset directly.

Meanwhile, the biggest story this week might be the quietest one (see below).

This simple but powerful regulatory shift could allow for millions, if not billions, of dollar-denominated Bitcoin from leaving the ecosystem, as holders would no longer be forced to sell to upgrade their lifestyle (they could merely take out a loan against their assets).

Critics who commonly claim “you can’t live in a Bitcoin” may now have to eat their words, as many can buy their dream homes without giving up the best-performing global asset of the decade.

Stay safe and keep on stacking!
-Bam

Monday Live Stream🚨

We’ve stepped it up a notch with even more high-quality Bitcoin content (now on YouTube!).

Join our co-founder @RobWallace and an exciting new guest every Monday morning as he dissects the latest news announcement with a weekly Bitcoin guest.

[P.S. 👉 Bitcoin Trivia winners announced live on stream]