Bitcoin's Quiet Infiltration of Traditional Finance

Happy Monday Bitcoiners, it's Bam here with another Bitcoin update!

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

Notable events this week include:

• HBO says they know the identity of Satoshi.

• Argentina wants the secrets to El Salvador’s Bitcoin strategy.

• Bitwise launches new Bitcoin/Treasury rotation ETF.

Let’s dive in! ⚡

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LATEST NEWS 📰

🙌 ADOPTION

• Only 0.15% of the global population holds more than 0.01 BTC, underscoring how early Bitcoin adoption remains, despite growing awareness and institutional interest.

• HBO is set to release a documentary this week that claims to unveil the identity of Satoshi Nakamoto.

• Nunchuck introduces Decoy Wallets to provide plausible deniability in case of attack.

⚖️ LEGAL

• Taiwan’s Financial Supervisory Commission now allows "professional investors" to invest in foreign Bitcoin and crypto ETFs.

• Proton Management denies Swan Bitcoin's claim of involvement in its mining operations, following a lawsuit in which Swan alleges a former executive stole proprietary information to start Proton.

• Binance co-founder CZ has been released early from U.S. custody after serving a 4-month sentence.

📈 MARKETS

• Bitwise files for a new Bitcoin/Treasury rotation strategy ETF (ticker: BITC), designed to reduce downside volatility and boost long-term returns by shifting from BTC to Treasuries during market downturns.

• Of the top 25 ETFs launched in 2024, 10 are Bitcoin ETFs.

• BlackRock presents its clients with a case for Bitcoin, featuring a chart that illustrates the sharp decline in the dollar’s purchasing power since the Federal Reserve's inception in 1913.

⛏️ MINING

• OCEAN mining pool introduces DATUM (Decentralized Alternative Templates for Universal Mining), enabling individual miners to independently decide what transactions are included in the blocks they find.

• TeraWulf strikes a $92 million deal with Talen Energy, aiming to reinvest the proceeds into AI infrastructure, high-performance computing data centers, and additional Bitcoin mining equipment.

• Aggregate Bitcoin transactions fees collected by miners per quarter, when denominated in Bitcoin, are at their lowest level since 2012

🗳️ POLITICS

• Ohio State Senator Niraj Antani introduces a bill allowing all state and local taxes to be paid in Bitcoin.

• Rep. Ro Khanna voices support for a strategic bitcoin reserve, building bipartisan momentum behind the initiative.

• El Salvador’s President Bukele and Argentina’s Vice President Villaruel discussed Bitcoin and the potential of El Salvador’s volcano bonds during a meeting at Argentina’s Senate.

BAMS 2 SATS 🧢

Over the last six months, Bitcoin’s price has been stuck in a sideways range. But if you’ve been on Bitcoin Twitter, it feels like a rollercoaster, with sentiment swinging wildly between bullish and bearish.

It’s often said that time makes the tourists go away, but Bitcoin’s positive presence in mainstream media seems to be sticking around. Just take a look at Forbes' coverage this week:

From another angle, BlackRock is positioning Bitcoin as a "flight to quality" asset—something to hold when trust in the system falters. They’ve been promoting it to clients as a hedge against dollar debasement, comparing its qualities to traditional safe-havens like US Treasuries and gold.

Interestingly, even with the world’s largest financial manager, BlackRock, promoting Bitcoin as a better alternative to gold and Treasuries, that’s not enough for the IMF. They still see it as a threat, going as far as publicly stating that they will withhold aid to El Salvador unless the country modifies its Bitcoin law and limits exposure in the public sector.

A year ago, this might have carried more weight. But after El Salvador’s success—accumulating Bitcoin as a reserve, sitting on tens of millions in profit, and boasting the best emerging market bond performance this year—it hits quite differently now.

In any case, regulators will keep regulating, and Bitcoiners will keep stacking. The IMF will get Bitcoin at the price they deserve.

So let’s keep on stacking!
Bam

Global Bitcoin Education is Exploding

This week, we sit down with Hector Alvero, a leading Bitcoin educator and COO of the Bitcoin financial app Rhino Bitcoin.

Hector shares insights on the latest developments driving global Bitcoin education initiatives and offers valuable tips on introducing Bitcoin to those closest to you.