Bitcoin Starts to Feast as Liquidity Pressure Builds

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:

• Strategy just got added to a major index, but not the S&P 500… yet.

• US Go signals interest in public-private partnerships for Bitcoin mining.

• Senator Lummis introduces a bill to remove cap gains tax for spending BTC.

Let’s dive in⚡

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Latest News 📰

🙌 Adoption

• Wallet of Satoshi returns to the US market after exiting during the Biden administration. Now operating as a “fully self-custodial” Lightning wallet, using Spark on the backend.

• Germany’s Sparkassen banking group to launch Bitcoin and crypto trading for 50 million customers across its 370 savings banks.

• Ledger now has dedicated kiosks at Best Buy, offering their hardware wallets for sale in-store.

⚖️ Legal

• Arizona Governor Katie Hobbs vetoes HB 2324, her third crypto-reserve bill blocked this session. The bill would have created a Bitcoin and digital assets reserve fund using seized crypto.

• Connecticut signs its ‘Bitcoin Reserve Ban’ into law. The state is now barred from accepting, holding, or investing in digital assets.

• US Supreme Court declines to hear a case on digital financial privacy, reaffirming that data shared with third parties, like exchanges, can be accessed by the government without a warrant.

📈 Markets

• Strategy is officially added to the Russell Top 200 Index, a major benchmark for U.S. large-cap equities. The firm is also reporting an eye-popping ~$14 billion in unrealized Bitcoin profits for Q2.

• SoFi Bank CEO Anthony Noto announces a new international payments feature that uses Bitcoin to convert USD into foreign fiat, enabling faster and cheaper cross-border transfers.

• BlackRock’s Bitcoin ETF (IBIT) now generates more annual fee revenue ($186M) than its flagship S&P 500 ETF (IVV), which brings in $183M, despite IBIT being just 18 months old.

🏦 Treasury

• Metaplanet an additional 1,005 BTC, bringing its total holdings to 13,350 BTC and rising to 5th among public companies with the largest Bitcoin treasuries. The company has achieved a 348.8% BTC yield YTD in 2025.

• Public companies acquired roughly 131,000 BTC in Q2, boosting their holdings by 18%, outpacing Bitcoin ETFs, which added about 111,000 BTC, an 8% increase.

• Figma, the design app preparing to go public, reveals in its S-1 filing that it holds $70 million in Bitcoin ETFs, with board approval to purchase an additional $30 million in BTC.

⛏️ Mining

• MARA announces a target of 75 EH/s by the end of 2025, a 40% increase from 2024, supported by existing machine orders and a 3 GW low-cost power pipeline.

• American Bitcoin Corp, backed by Hut8 and Eric Trump, raises $215 million to buy bitcoin. The company currently holds 215 BTC.

• Ethiopia reports $200 million in Bitcoin mining revenue over the past 6 months. The windfall will help expand the power grid, which currently has just 22 power stations and 192 substations.

🗳️ Politics

• Bhutan’s government has launched the world’s first national-level crypto tourism payment system, allowing visitors to pay for flights, visas, hotels, and even roadside snacks using Bitcoin & crypto.

• Bo Hines says a public-private partnership between Bitcoin miners and the government could be a powerful way to build the Strategic Bitcoin Reserve.

• Senator Lummis introduces digital asset tax reform, including a $300 de minimis exemption per transaction (capped at $5,000 annually), with an aggregation rule and inflation adjustments starting in 2026.

🧠 Bitcoin Trivia 🧠

Bam’s 2 Sats 🧢

Liquidity Gets Ready To Enter The Bitcoin Market

As the Bitcoin treasury trend accelerates, over 252 entities now hold Bitcoin, a 10% increase in just one month. As this is being written, new companies may be joining the race!

At this point, it feels like everyone’s finally paying attention, at least in boardrooms and government halls. The mainstream? Still distracted by endless wars, bloated bills, or the next football match.

Not one of my normie friends has asked me about Bitcoin lately, even as it holds steady above $100K, knocking on heaven’s door.

Some companies dabbled with the “altcoin treasury” idea, but it has not gained the same traction as Bitcoin treasuries, and in some cases, failed spectacularly. One such example is Sharplink Gaming, an ETH treasury company, who’s stock is down 70% in the past month alone.

They still don’t see it: Bitcoin already won. It’s been quietly spreading through minds and markets, with Michael Saylor carrying the torch for the Bitcoin Treasury Strategy.

At this point, it feels like Saylor has convinced the market that, given the chance, he’ll buy all the Bitcoin. So the game becomes:

“How many sats can I stack before the price takes off?”

Because MicroStrategy isn’t slowing down.

In short, buy Bitcoin before it’s too late.

Adding to the madness this Fourth of July, Trump’s administration signed the One Big Beautiful Bill, which includes two striking provisions:

• A debt ceiling increase of up to $5 trillion.

• The creation of “Trump Accounts,” $1,000 in S&P-indexed savings for every newborn.

Sound beautiful? It’s just money printing. A clever distraction, maybe, but at its core, it dilutes every existing dollar holder. Sure, babies get a sliver of the pie, but trillions more are about to flood the system.

The silver lining? It’s bullish for Bitcoin.

Those new dollars could flow straight into Bitcoin, especially through treasury companies. And if $MSTR joins the S&P 500, those Trump Accounts might passively expose an entire generation to Bitcoin.

In my view, the signal couldn’t be clearer: Now is the time to accumulate as much Bitcoin as you can, before the rest of the world catches up.

And before I sign off, remember this:

The Bitcoin you hold is pristine. It is the new hurdle rate. Trying to outperform it is a very risky game.

We may be entering an era where altcoin season never comes back. Bitcoin treasury companies are starting to feel like the new altcoin hype, only this time with balance sheets behind them.

Could you profit from that hype? Maybe. But remember this:

The playbook is simple: raise cheap capital, buy Bitcoin, attract retail investors, then dilute shareholders to buy even more Bitcoin, all while selling the story of “accretive Bitcoin per share.”

The takeaway? Although it could be profitable in fiat terms, Bitcoin per share is not your Bitcoin. Take care of your lovely bitcoins because they aren’t making many more of them lately :)

Stay safe and keep on stacking!
-Bam

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