Speculative Attack on the Dollar Ignites New Bitcoin All-Time Highs

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 👇

• Bitcoin breaks through multiple ATH’s (yet again).

• Dems push back against GOP crypto bills and El Salvador’s Bitcoin law.

• Jack Dorsey’s latest app lets you send Bitcoin offline.

Let’s dive in⚡

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Latest News 📰

🙌 Adoption

• Since 2020, 47 countries have expanded access to Bitcoin, while only 4 have tightened restrictions. 34 nations have approved Bitcoin ETFs or ETPs, and U.S. banks are now permitted to custody BTC.

• Jack Dorsey releases Bitchat, a new offline Bluetooth‑mesh app supporting peer-to-peer encrypted messaging and enabling offline Bitcoin transactions, perfect for disaster scenarios.

• OpenSats announces its 12th wave of grants, funding 12 open-source Bitcoin projects, including tools for analytics, anonymous mining payouts, mobile ecash, and developer kits for .NET and Swift.

⚖️ Legal

• Hackers stole $100M from Brazil’s Central Bank via the PIX system, allegedly using credentials sold by an insider. Authorities froze R$270M and arrested a key suspect behind the breach.

• A new Bitcoin scam is targeting holders of legacy 2011-era addresses, using OP_Return messages to lure them to a fake website falsely claiming affiliation with Salomon Brothers.

• US Democratic senators are pushing to investigate El Salvador’s Bitcoin holdings to see whether Bitcoin has been used to evade U.S. sanctions.

📈 Markets

• BlackRock’s Bitcoin ETF now holds over 700,000 BTC (~3.5% of the total supply), making it the fastest ETF to reach $80B in AUM, five times faster than the previous record.

• Remixpoint is now the first Japanese public company to pay its CEO entirely in Bitcoin, aligning executive compensation with its 1,051 BTC treasury strategy.

• Ego Death Capital closes a $100M second fund to scale Bitcoin-native companies earning $1M–$3M. Early bets include Roxom (exchange), Relai (savings), and Breez (payments).

🏦 Treasury

• Metaplanet acquires another 797 BTC, raising its total holdings to 16,352 BTC, ranking 5th place on the global Bitcoin treasury list.

• Sequans, a French semiconductor firm with a $38M market cap, has raised $384M to launch a Bitcoin treasury. Backed by 40+ institutional investors and partnered with Swan, it aims to accumulate 3,000 BTC.

• David Bailey’s Nakamoto has funded 15 public Bitcoin treasury companies across 11 capital markets, backing over 30,000 BTC to date, with 30 more deals in the pipeline.

⛏️ Mining

• Pakistan’s Finance Ministry and Power Division refute claims the IMF rejected subsidized power for Bitcoin mining, stating the plan is still under negotiation and surplus electricity is available.

• Russia launches a national Bitcoin mining equipment register to track power usage, curb illegal consumption, and pave the way for taxation and industry legalization in high-activity regions.

• US Bitcoin mining execs face shareholder pushback over high pay, earning far more than IT and energy peers. Average approval for exec pay was just 64%, vs. ~90% for S&P 500 execs.

🗳️ Politics

• Chairman of the Board of Fannie Mae says he is “encouraged by reports that Jerome Powell is considering resigning”.

• Democrat Reps. Maxine Waters and Stephen Lynch have declared “Anti-Crypto Corruption Week” starting July 14, opposing three GOP-backed bills: the CLARITY Act, GENIUS Act, and a proposed CBDC ban.

• The Libertarian Party embraces Bitcoin as a peaceful revolution: “The US dollar is violence… Bitcoin is the first viable escape.” Their manifesto calls it a tool of resistance, made to break the money monopoly.

🧠 Bitcoin Trivia 🧠

Bam’s 2 Sats 🧢

Fiat Is Hopeless

This week was something else. Bitcoin didn’t just break past its all-time highs - it obliterated them, ripping a $7,000 candle in less than 24 hours.

As expected, the wave of companies adopting Bitcoin as a treasury asset keeps growing. One firm tried to “diversify” into other coins but has now sold all its Solana to double down on Bitcoin. The market has made it clear what it rewards.

On the political side, after the Big Beautiful Bill passed, Elon threw one of his classic tantrums and floated the idea of launching his own political movement: the America Party. His goal? Ditch the tired red vs. blue script and rally a fiscally responsible insurgency.

Naturally, Bitcoiners asked if this new party would embrace Bitcoin. Elon’s reply?
“Fiat is hopeless.”

It’s incredible to witness this shift. The same Bitcoin that’s been declared dead countless times, the same Bitcoin once dismissed as a tool for criminals, is now being recognized, and even weaponized, as a political force to win votes.

But here’s the uncomfortable truth: all the talk of fiscal responsibility means nothing until we confront the real problem—the central banking monetary system itself.

With mountains of debt already baked into the system, Lyn Alden’s latest quote (below) feels more accurate with each passing day:

The good news? There is a solution.

It’s not about finding a more “responsible” group to manage the money. It’s about removing that control altogether. Separating money from the state.

A system of rules, not rulers.

That’s why we Bitcoin.

Now go enjoy the week. We’ve hit new highs, momentum is surging, and Bitcoin is on the verge of overtaking Amazon as the fifth-largest asset on Earth.

Stay safe and keep on stacking!
-Bam

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