BITCOIN BOX SCORE

Exchange Rate: $117,500
Market Capitalization: $2.34T
Hash Rate (90 days): 931.6 EH/s
Transactions (30 days): 14,671,417
Network Fees (economy): 2 sat/vB
Bitcoin Dominance: 57.76%

What do these numbers mean?

The Federal Reserve's "forgotten" third mandate is about to go mainstream. While most Americans are familiar with the Fed's dual mandate of price stability and maximum employment, it may be news to many people that the 1913 Federal Reserve Act includes a third statutory requirement: maintaining "moderate long-term interest rates."

Fed governor Stephen Miran recently cited this buried mandate as potential justification for yield curve control, which means that the central bank would manipulate government bond prices to suppress borrowing costs.

As Christian Pusateri warned, this is "financial repression by another name." With U.S. debt approaching $37.5 trillion and the Fed already operating at a $173.5 billion loss while creating fictional "deferred assets" to mask its insolvency, yield curve control would be yet another admission that the guardians of the U.S. dollar have lost control.

When central banks abandon all pretense and openly manipulate the price of capital itself, hard assets like bitcoin become especially attractive to people looking for ways to protect the fruits of their labor from manipulation and debasement. Could we see another bitcoin rally as the Fed attempts to wrangle long-term interest rates? Time will tell.

NEWS

Commercial mortgage delinquencies surpass 2008 crisis levels as office and multifamily properties collapse

U.S. commercial mortgage delinquencies spiked to 10.4% in November 2024, approaching the 10.7% peak during the 2008 financial crisis, with office mortgages reaching 11.7% and multifamily loans hitting 6.9%. The crisis is masked by "extend-and-pretend" accounting tactics where lenders grant forbearance and extensions rather than forcing actual resolutions.

Real estate's reckoning reveals bitcoin's superiority

This commercial real estate collapse exposes the fundamental flaws of property as a store of value: it's illiquid, vulnerable to interest rate manipulation, and highly dependent on government loopholes and bailouts. Bitcoin offers a transparent alternative that can't be artificially propped up through accounting gimmicks, potentially siphoning away the monetary premium that has inflated real estate values for decades.

Harvard Business Review publishes a comprehensive guide to corporate bitcoin treasury strategies

Harvard Business Review published an in-depth analysis titled "Does bitcoin Belong on Your Balance Sheet?" examining how CEOs, CFOs, and treasurers should approach bitcoin allocation, marking a watershed moment for institutional acceptance. The prestigious publication recommends a bitcoin allocation in the range of 1 to 3%, tracking bitcoin's adoption relative to gold and monitoring network scaling as key indicators for position sizing.

Academic credibility meets bitcoin reality

When Harvard Business Review – the gold standard for corporate strategy – dedicates serious coverage to bitcoin treasury management, it signals that bitcoin has definitively crossed from fringe experiment to boardroom necessity. The article's framework comparing bitcoin to monetary gold and analyzing it as both an asset and settlement network shows that elite academic and business circles now view bitcoin as infrastructure rather than speculative curiosity.

Memecoiners erect 12-foot golden Trump bitcoin statue outside US Capitol

Anonymous organizers placed a 12-foot golden statue of President Trump holding a bitcoin on the National Mall opposite the U.S. Capitol, calling it a tribute to Trump's "unwavering commitment to advancing the future of finance through bitcoin." The foam statue was unveiled as part of a Pump.fun livestream tied to a memecoin launch, coinciding with the Fed's 25 basis point rate cut.

Culture war → Monetary war

Grassroots bitcoin supporters building monuments is a sign that the coming economic transformation won't be driven by top-down policy. People everywhere are beginning to understand that bitcoin offers freedom from fiat games and financial control.

Fed delivers 25 basis point "risk management" cut as Powell admits economic slowdown amid Trump pressure

The Federal Reserve cut its benchmark rate by 25 basis points to 4%-4.25% in response to a cooling labor market and economic uncertainty, marking the first cut since December. Fed Chair Jerome Powell called the move a "risk management cut" while maintaining the Fed's commitment to independence despite President Trump's repeated criticisms of their hesitancy to act on softening inflation.

Central bank caught between politics and reality

Powell's dovish turn exposes the Fed's impossible position: the system they created, not to mention their personal net worth, is dependent on perpetually low rates. And yet they must publicly pretend their decisions are independent and data-driven, or the whole charade falls apart.

BITCOIN ADOPTION CONTINUES

House Speaker Mike Johnson met with bitcoin industry leaders, pledging that Republicans will work closely with the industry to craft supportive legislation.

StarkWare created a 1-megabyte zero-knowledge proof allowing mobile devices to verify bitcoin payments in under 100 milliseconds without downloading the full 680-gigabyte blockchain.

ZBD's bitcoin rewards SDK integrated into TapNation's Idle Bank mobile game (12 million downloads) achieved 355% increase in 30-day player retention and 124% revenue growth per player.

A solo bitcoin miner hashing at just 200 terahashes per second defied 1-in-36,000 odds to win block 913,593 and claim the entire $347,980 reward using a single Antminer S21 machine.

Kazakhstan's President Kassym-Jomart Tokayev announced plans to create a state bitcoin fund by 2026 and establish a "CryptoCity" in Alatau where bitcoin can be used for payments.

Kyrgyzstan's parliament passed amendments to its "On Virtual Assets" bill establishing legal frameworks for a state bitcoin reserve, state mining operations, and stablecoin issuance.

BTC Inc. and Strategy renewed their Bitcoin for Corporations partnership for five years, supporting 38 member companies that hold 69% of all corporate bitcoin holdings globally.

HOW BITCOIN WORKS

Learn one key idea about bitcoin each week. This week:

The Fed's century of centralization

Now that economist Stephan Miran has brought the Federal Reserve's mandates back into mainstream coverage, it is worth reviewing the institution's history and its evolution into the leviathan it is today.

When Congress created it in 1913, the Fed's power was distributed among twelve regional banks that operated independently, each conducting its own open market operations and setting discount rates. This decentralized approach often led to conflicting policies, but it also prevented any single entity from controlling America's money supply.

The Banking Act of 1935 changed everything. Following the chaos of the Great Depression, lawmakers centralized monetary authority in Washington through the Federal Open Market Committee, giving the Board of Governors permanent control over interest rates, reserve requirements, and money creation. The Treasury Secretary and Comptroller were removed from the Board, creating an illusion of independence while actually concentrating unprecedented power in fewer hands.

Each subsequent crisis has brought more centralization. The 2008 financial crisis expanded the Fed's powers through quantitative easing and regulatory capture. Today, a handful of unelected officials can create trillions of dollars, manipulate interest rates, and pick winners and losers throughout the economy. What began as twelve competing regional banks became a centrally-planned system that socializes losses while privatizing gains.

In contrast, Bitcoin’s monetary policy was fixed in computer code when the network began operating in 2009, and it cannot be changed without consensus among countless, anonymous, independent nodes. ts rules don't change with elections, crises, or the machinations of central banks. No central authority can print more bitcoin, manipulate its issuance schedule, or bail out failing institutions.

While the Fed has spent a century accumulating power over money, bitcoin revives the idea of money tied to an external, physical reality that nobody can control.

COIN CHECK

Born from the Panic of 1907, in what year did congress create a central bank made up of twelve regional banks?

A. 1913 – Federal Reserve Act
B. 1935 – Reorganization & FOMC revamp
C. 1917 – WWI financing
D. 1933 – Glass-Steagall & FDIC

Check your answer at the end of the page.

FROM THE MEME POOL

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ANSWER

A. 1913

Congress passed the Federal Reserve Act on December 23rd, 1913, creating a decentralized central bank built around twelve regional Federal Reserve banks, each serving a district. The design was a compromise: avoid a single Wall Street-dominated bank, but still supply elastic currency and lender-of-last-resort support. Initially, the regional Fed banks operated with considerable autonomy. In the 1930s and beyond, power over the money supply has been centralized in Washington, DC.

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