Everyone loves a one stop shop. Coinbits Plus is the first subscription service for managing your bitcoin and cash in one place. 

With Coinbits Plus, you get more bitcoin for your money thanks to no transaction fees and very low spreads, in addition to features like Spending Insights, Peer-to-Peer Payments, Connected Wallets, Auto Sends, Target Orders, and Priority Support. You will even gain access to our Private Coinbits Plus Community – all for less than a Netflix subscription.

Check out Coinbits Plus with a free trial now 👉 https://my.coinbits.app/subscriptions

BITCOIN BOX SCORE

Exchange Rate: $102,040
Market Capitalization: $2.03T
Hash Rate (90 days): 858.0 EH/s
Transactions (30 days): 11,428,818
Network Fees (economy): 2 sat/vB
Bitcoin Dominance: 64.25%

What do these numbers mean?

"Nothing stops this train" is a phrase Lyn Alden uses often to illustrate that, despite rhetoric and even good intentions to the contrary, there is no way to slow down or reverse the U.S. government’s accumulation of higher and higher debt loads.

This week, Elon Musk, no longer leading the Department of Governmental Efficiency, has taken to X to slam President Trump's "One Big Beautiful Bill Act."

The "OBBBA would not only keep spending levels high, but would also add $3 trillion to already high levels of national debt – or $5 trillion if extended. With debt already approaching record levels, this additional borrowing could prove very harmful," wrote the Committee for a Responsible Federal Budget.

Alden is correct. The world's wealthiest man, founder of multiple revolutionary technology companies, and a bold President couldn't change our fiscal trajectory even though 57% of Americans view the federal budget deficit as a "very big problem."

Regardless of the politicians in charge, the "system" is working exactly as intended. It concentrates capital accumulation in small pockets of the economy at the expense of broad-based prosperity.

The purpose of a system is what it does. If you don’t like it, opt out.

NEWS

Jack Dorsey drops $100 in bitcoin at Steak 'n Shake, demonstrates Lightning payments are ready for prime time

Twitter co-founder Jack Dorsey made headlines this week by purchasing fries at Steak 'n Shake using bitcoin's Lightning Network, paying 96,173 sats worth about $100. (That’s a lot of fries!) The transaction was instant, with Dorsey's viral post receiving hundreds of thousands of views. Steak 'n Shake began accepting bitcoin across all of its locations on May 16th with spokespeople noting that bitcoin payments are faster and cheaper than credit cards.

Bitcoin payments achieve product-market fit

Unlike the 2010 Bitcoin Pizza Day transaction that took days to confirm, this Lightning payment was instantaneous and cost-effective. As merchants recognize bitcoin's superior economics over legacy card networks, we may finally see bitcoin displace traditional payment rails for everyday commerce.

Moody's downgrades U.S. credit rating as fiscal deficits balloon

Moody's downgraded the U.S. government's credit rating from Aaa to Aa1, citing "persistent, large fiscal deficits" that will drive debt and interest burdens higher due to growing entitlement spending and plateauing tax revenues. The downgrade follows similar moves by S&P (2011) and Fitch (2023). The U.S. Dollar Index fell following the announcement and continues declining as demand for Treasury notes weakened leading to reduced dollar demand in foreign exchange markets.

Everything is good for bitcoin

Bitcoin offers a way to distance oneself from fiscal irresponsibility. It has a fixed supply that Washington's spending addiction cannot touch. Bitcoin may finally fulfill its destiny as a check on a fiat-fueled Leviathan that grows regardless of the will of the people.

Bitcoin life insurer becomes first company to publish audited financials denominated in bitcoin

Meanwhile Insurance has become the first company globally to release externally audited financial statements denominated entirely in bitcoin, reporting 220.4 BTC in assets and 25.29 BTC in net income for 2024 – a 300% year-over-year increase. The Bermuda-licensed firm operates entirely in bitcoin and is prohibited from liquidating it except to pay claims. The audit was conducted by Harris & Trotter LLP and complies with Bermuda's Insurance Act 1978.

Bitcoin accounting becomes reality

Meanwhile's milestone demonstrates bitcoin's evolving role in various forms of commerce and investment. The full thread, worth reading, is below:

Trump Media files for spot Bitcoin ETF approval from SEC

Trump Media & Technology Group, majority-owned by President Trump, filed an S-1 registration with the SEC to launch the Truth Social bitcoin ETF on June 5th. The filing states the trust will consist primarily of bitcoin held by custodian Crypto.com, seeking to track bitcoin's price performance. This follows Trump Media's announcement last week of a $2.32 billion bitcoin treasury initiative and comes amid the company's broader expansion into financial services through its Truth.Fi platform.

The Trump bitcoin industrial complex takes shape

Trump Media's ETF filing represents another piece of the administration's comprehensive bitcoin strategy, from the Strategic Bitcoin Reserve to appointing friendly regulators. By leveraging the Truth Social brand for bitcoin products, the company creates a direct financial pipeline between Trump's political influence and bitcoin adoption.

BITCOIN ADOPTION CONTINUES

Romania's state-owned postal company Poşta Română is installing bitcoin terminals in post offices to allow cash deposits for funding accounts on the BTR Romania exchange platform, starting with five locations.

Hong Kong's securities regulator plans to allow professional investors to trade bitcoin derivatives, expanding access to the $21 trillion quarterly derivatives market.

Russia's largest bank Sberbank launched a structured bond tied to bitcoin performance, allowing qualified investors to gain bitcoin exposure through ruble-denominated products.

Hong Kong-based Reitar Logtech Holdings announced plans to acquire up to $1.5 billion in bitcoin to diversify its treasury and support global logistics technology expansion.

South Korea's new President Lee Jae-myung plans to approve spot bitcoin ETFs, making Korea the second country in Asia after Hong Kong to allow bitcoin ETFs.

Canadian clean energy company SolarBank Corporation adopted bitcoin as a strategic reserve asset in a move to hedge against inflation and differentiate itself in the renewable energy sector.

HOW BITCOIN WORKS

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

Does Bitcoin Have a MAGA Problem?

A recent WIRED article about Bitcoin 2025 highlighted growing tensions between bitcoin purists and political supporters, with some warning that Republican embrace could "endanger their community" and provoke future backlash.

These concerns, while understandable, are fundamentally misguided.

Bitcoin doesn't have a MAGA problem because bitcoin is a protocol, not a political party. It operates independently of any social construct, up to and including sovereign nations. No amount of political theater can alter bitcoin's monetary policy, change its consensus rules, or stop its operation.

This is precisely why decentralization matters. It makes bitcoin immune to political capture.

Critics might claim that Trump's memecoin ventures or his sons' bitcoin companies somehow compromise the network. But bitcoin's value proposition doesn't depend on the moral purity of its users. Like any language or tool, bitcoin can be used by saints and sinners alike. And it even facilitates trade among enemies – part of the reason that many believe bitcoin to be a force for peaceful cooperation. The beauty of permissionless money is that it serves everyone equally.

Trump's evolution from bitcoin skeptic to strong advocate demonstrates bitcoin's growing influence on him, not the other way around. As Bitwise's Jeff Park notes, "It's not Bitcoin that needs Trump – it's Trump that needs Bitcoin. Never mistake who holds the real power."

Some fear that if Trump associates himself with bitcoin, Democrats could retaliate against it if and when they regain significant power. However, House Minority Leader Hakeem Jeffries recently acknowledged bitcoin's allies "on both sides of the aisle," and previous political attempts to suppress bitcoin (led by Elizabeth Warren and Greenpeace, among others) have consistently backfired, only strengthening bitcoin’s role in the global economy.

From El Salvador's embrace to Pakistan's strategic reserve, bitcoin has appeal that reaches far beyond American partisan politics.

COIN CHECK

Approximately how many people worldwide are estimated to own or use bitcoin in 2025?

1. 8 million

2. 47 million

3. 320 million

4. 1 billion

Check your answer at the end of the page.

FROM THE MEME POOL

Follow us on X for more fresh content

ANSWER

3. The best estimate in 2025 is about 320 million people. River Financial’s 2025 adoption study finds that roughly 4 percent of the planet’s residents hold any amount of bitcoin. Mid-2025 UN-based population data put the world at a little over 8.19 billion people, which means 4 percent works out to roughly 327 million. That figure sits comfortably between earlier, narrower counts such as Bitbo’s 106 million (which exclude many custodial accounts) and far broader numbers like Triple-A’s 560 million, which refer to all crypto holders, not just bitcoiners.

Was this email forwarded to you? Sign up here.