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BITCOIN BOX SCORE

Exchange Rate: $109,580
Market Capitalization: $2.18T
Hash Rate (90 days): 877 EH/s
Transactions (30 days): 10,702,678
Network Fees (economy): 2 sat/vB
Bitcoin Dominance: 65.32%

What do these numbers mean?

"After spending time in Washington, DC discussing the budget deficit with senior people on both sides of the aisle, it's clear to me that we are unlikely to change the debt trajectory we're on and avoid the painful consequences," warns Ray Dalio.

Even Elon Musk, the world's wealthiest man who led the Department of Government Efficiency, has thrown in the towel.

Despite uncovering billions in waste, fraud, and abuse – from U.S.-sponsored genital mutilation in foreign countries to Social Security payments to dead people – the system remains based on the dollar, and the dollar was designed to be debased.

As Lyn Alden reminds us, "Nothing stops this train." Omnibus bills force legislators into impossible choices, bundling necessary spending with wasteful programs. The Legislative branch has been captured by special interests, making fiscal responsibility politically impossible.

The solution isn't a third party or incremental reform. It's removing government's ability to print money ex nihilo. You don’t help an alcoholic by telling them they should try harder to drink moderately.

Bitcoin is the alternative to this system, because it offers rules without rulers. When free people choose to use it, they opt out of a corrupt dollar system and do their part to build a bridge to a new era of fairness, hope, and truth.

NEWS

Bitcoin jumps as Trump dismisses deficit concerns, promises growth will "make it all up"

Bitcoin’s price rose 0.54% to $107,937 after President Trump posted on Truth Social urging Republican lawmakers to ignore deficit worries about his $3.8 trillion tax-and-spending package. Trump's message that "We will make it all up, times 10, with GROWTH" sparked immediate market reactions as analysts interpreted this as confirmation of loose fiscal policy ahead.

Everything is good for bitcoin

Analyst Will Clemente captured the bitcoin bull case perfectly: "How can you read this and not hold any bitcoin or gold?" Trump's deficit-spending approach validates bitcoin's value proposition as governments choose political expedience over fiscal responsibility. With $36.2 trillion in existing debt and trillions more projected, bitcoin's fixed supply offers the only escape from inevitable currency debasement.

Design platform Figma reveals $70 million bitcoin ETF holdings in IPO filing

Figma disclosed in its SEC filing that it holds $69.5 million worth of bitcoin ETFs, showing a 26% unrealized gain on its initial $55 million investment in Bitwise's bitcoin ETF. The software company also holds $30 million in USDC specifically earmarked for future bitcoin purchases, representing about 5% of its balance sheet allocated to bitcoin.

Bitcoin becoming a standard corporate treasury asset?

Figma's bitcoin allocation demonstrates that bitcoin adoption is expanding beyond tech-focused companies into mainstream software businesses. With the company choosing to go public while prominently featuring its bitcoin holdings, Figma is signaling to public market investors that bitcoin treasury strategies are becoming essential for forward-thinking corporations seeking to optimize their balance sheets.

IMF blocks Pakistan's plan to subsidize electricity for bitcoin mining

The International Monetary Fund rejected Pakistan's proposal to allocate 2,000 megawatts of surplus electricity to bitcoin mining at subsidized rates of $0.08 per kWh, citing concerns about "market distortions" despite Pakistan's $4.5 billion power sector surplus. The IMF warned that subsidies resembled "sector-specific tax holidays that have historically created imbalances," blocking Pakistan's attempt to monetize stranded energy while building its strategic bitcoin reserve.

Legacy institutions fear bitcoin's empowerment

The IMF's opposition reveals its fundamental failure to understand how bitcoin mining can solve energy infrastructure problems. While Pakistan seeks to reduce capacity charges, generate revenue from surplus power, and provide financial tools for 100 million unbanked citizens, the IMF clings to outdated frameworks that prioritize bureaucratic control over innovation. Pakistan's bitcoin strategy challenges the IMF's relevance by demonstrating sound economic policy that is independent of its failed prescriptions.

Argentina's Milei slashes inflation from 211% to 1.5% through fiscal discipline

President Javier Milei has delivered an economic miracle in Argentina, cutting monthly inflation from 211.4% in November 2023 to just 1.5% in May 2025 through aggressive spending cuts and economic liberalization. The libertarian economist achieved this without price controls, instead balancing the budget, eliminating bureaucracy, and ending monetary expansion as a financing tool while lifting 1.7 million children out of poverty.

Sound money delivers results

Milei's success validates Austrian economic principles that bitcoin embodies – fiscal discipline, limited government intervention, and sound monetary policy. His pro-bitcoin stance aligns with his free-market philosophy, demonstrating how leaders who understand monetary fundamentals naturally gravitate toward bitcoin as the ultimate expression of economic freedom and fiscal responsibility.

BITCOIN ADOPTION CONTINUES

Bitcoin venture studio Thesis* acquires rewards platform Lolli to integrate with its ecosystem, enhancing bitcoin rewards and expanding global reach for bitcoin adoption.

Peter Thiel and tech billionaires launch Erebor bank to serve bitcoin startups, replacing collapsed Silicon Valley Bank with bitcoin-focused banking services.

Belgium's KBC Bank plans to offer bitcoin to retail customers through its Bolero platform, pending regulatory approval.

Blue Star Capital raises £1.25 million to expand SatoshiPay's bitcoin treasury operations, with £1 million going toward secured bitcoin acquisitions.

Breez SDK onboards 12 new apps to the bitcoin Lightning Network in Q2, including Grimm App, Klever, and Sorted, accelerating bitcoin payment adoption globally.

Eric Trump's American Bitcoin raises $220 million in private stock sale to expand bitcoin holdings and mining operations, with $10 million of the investment paid in bitcoin.

HOW BITCOIN WORKS

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

How bitcoin treasury companies work

Critics are raising uncomfortable questions about bitcoin treasury companies like Strategy, among others. These firms issue debt and equity to buy bitcoin, then use their premium valuations to issue more securities and buy more bitcoin.

Unless they are paying dividends with corporate profits, which is always possible, executives are refinancing debt by issuing new instruments to pay off old ones. That's textbook Ponzi behavior.

The math is puzzling. Why would investors pay $183,000 for bitcoin wrapped in a corporate charter when they can buy the real thing for $102,000? These companies appear to be perpetual motion machines, using elaborate engineering to create value from nothing. History suggests such schemes don't end well.

The comparison to Sam Bankman-Fried's yield farming explanation is apt. When asked if he was "in the Ponzi business," SBF answered yes without hesitation. Today's bitcoin treasury executives use more sophisticated language, but the underlying mechanics look similar.

Here's the key distinction: bitcoin treasury companies are not bitcoin. Bitcoin is a decentralized monetary network that operates independently of any corporate structure. If these leveraged financial vehicles implode tomorrow, bitcoin continues running exactly as designed. Its dollar price may fall or rise, but the bitcoin ledger will not change, and the bitcoin network will continue validating blocks of transactions every 10 minutes.

This separation is bitcoin's greatest strength. Unlike previous monetary systems that depended on trusted institutions, bitcoin's protocol ensures that no single entity can threaten it. Treasury companies might introduce more capital to bitcoin markets, potentially accelerating adoption. They might even stumble upon a profitable business model based on mounting a speculative attack on the U.S. dollar. Whether or not they succeed is immaterial to the mathematical operation of bitcoin, which will simply grind on.

Of course, investors can (and should) buy bitcoin directly, hold their own keys, and avoid corporate intermediaries. That's precisely why it was designed as a system that bypasses financial intermediaries

COIN CHECK

Which of the following is a fundamental solution to the United States’ unsustainable debt trajectory and inevitable dollar debasement?

1. Forming a new third political party dedicated to balanced budgets

2. Passing incremental fiscal reforms through omnibus legislation

3. Removing the government’s ability to print money by individuals adopting bitcoin, a money system of “rules without rulers”

4. Relying on rapid economic growth to “make it all up” and offset larger deficits

Check your answer at the end of the page.

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ANSWER

3. Bitcoin tackles the mechanism, not the symptoms, of runaway debt. Bitcoin’s supply is limited to 21 million and enforced by a decentralized network of nodes, miners, and users who can veto any supply-changing upgrade. No committee can decide to “ease policy” in an election year. Monetary policy becomes a fixed protocol comparable to a law of nature rather than a political variable.

Nobody has to storm the Fed to install this system; individuals simply choose to hold or transact in bitcoin. Each time someone adopts bitcoin they marginally weaken the old arrangement by diverting savings out of the debasing currency into a neutral, non-sovereign asset.

Relying on faster GDP growth (choice 4) sounds comforting, but it leaves the root problem untouched. History shows that sustained real-growth surges are rare and easily derailed by recessions, geopolitical shocks, or demographic headwinds. Basing salvation on an outcome you can’t control is not a strategy.

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