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BITCOIN BOX SCORE

Exchange Rate: $98,340
Market Capitalization: $1.95T
Hash Rate (90 days): 782.6 EH/s
Transactions (30 days): 10,929,151
Network Fees (economy): 2 sat/vB
Bitcoin Dominance: 61.28%

What do these numbers mean?

The Department of Governmental Efficiency (DOGE) is stirring up countless headlines. The latest one describes an idea floated by President Trump to give back 20% of DOGE's savings to taxpayers and use another 20% to pay down the national debt.

While DOGE has made notable cuts to various agencies, thus reducing government spending, it is not a panacea for the fiscal and monetary issues plaguing the United States (and the broader Western world). Put differently, there's no stopping our runaway fiscal train without a full-on reset – a "Bretton Woods III," as some pundits call it.

Even if Musk and DOGE succeed in streamlining expenditures, they can't address the trillion-dollar annual interest costs that the Treasury must pay. That is, unless the Federal Reserve slashes rates drastically, but that risks setting of an intense inflationary cycle.

The government is stuck in a catch-22. High rates balloon the debt, but lower rates feed inflation. In either case, more money printing lies ahead, and the notion that we'll ever get back to "2% inflation” (the actual figures are always higher) is misguided.

Yes, DOGE can bring meaningful savings to American citizens, but it can't mend the dysfunctional fiscal and monetary structures that have metastasized since sound money was abandoned.

DOGE is necessary but insufficient. And in this new, "higher for longer" inflationary world, there's only one monetary protocol fully untethered from the legacy system: bitcoin.

NEWS

Fidelity report reveals Lightning Network’s boost to bitcoin

A new Fidelity Digital Assets report lauds Lightning’s rapid capacity growth - now at $500 million - and notes widespread adoption by major exchanges like Coinbase, Kraken, and Binance. The second-layer solution slashes transaction fees and settlement times, expanding bitcoin’s utility as a medium of exchange.

Lightning’s maturation enhances bitcoin’s appeal by fueling additional use cases - think instant micropayments and low-fee remittances. Institutions may see this as a decisive step in bitcoin’s evolution from store-of-value to a global settlement layer. If Lightning continues to prove cost-effective and reliable, bitcoin’s role in mainstream finance could accelerate across a new vertical.

Not only that, but the recent announcement by Lightning Labs and Tether that USDT will soon be available on the bitcoin network means that a significant percentage of global dollar-denominated money flows will soon be secured by Nakamoto Consensus. Could we finally have the technology tools to “build the bridge” to a bitcoin-powered economy?

Abu Dhabi purchases $437 million worth of spot bitcoin ETF shares

Abu Dhabi’s sovereign wealth fund, Mubadala, reportedly purchased $436.9 million worth of shares in BlackRock’s spot bitcoin ETF. Although the bitcoin underlying these shares are held in custody by Coinbase, rather than Abu Dhabit itself, the move marks a major endorsement of bitcoin from a key Middle Eastern source of capital investment.

Just the start?

Big institutional buys spotlight bitcoin’s appeal, but an ETF stake remains an IOU. In other words, it’s “paper bitcoin.” If bitcoin adoption grows, expect sovereign wealth funds to accumulate real, physical bitcoin in custody. Physical settlement, not paper exposure, is what ultimately cements bitcoin as a truly sovereign asset.

They want to audit Fort Knox. What will they find?

President Trump and Elon Musk suggested that it may be time to audit Fort Knox, which holds the lion share of the gold belonging to the federal government. The last time it was audited was decades ago, and there has been growing skepticism about whether it has as much gold as it is supposed to. Treasury Secretary Scott Bessent insists the gold is all there, but Musk wants a “live video walkthrough” to confirm.

Meanwhile, gold investors are requesting physical delivery at a rate that goes beyond recent precedent. Just a coincidence?

Audits shouldn’t be optional

U.S. gold reserves remain cloaked in secrecy. But why? We live in an age of unprecedented transparency and information. The excuse that audits are too difficult or expensive simply no longer holds up.

Bitcoin meets these expectations easily. Anyone with a computer can audit the entire global bitcoin supply at any time.

BITCOIN ADOPTION CONTINUES

PlebLab’s fifth Startup Day on March 13 will bring together bitcoin founders, investors, and devs in Austin to showcase new Lightning-based startups and foster collaboration in the bitcoin ecosystem.

Japan’s Metaplanet purchased 68 more bitcoins, bringing its holdings to 2,100 and reaffirming plans to reach 10,000 by year’s end.

State pension fund participation is key for bitcoin’s price to hit $500K, says Standard Chartered, emphasizing that long-only institutional capital will accelerate bitcoin’s maturity and adoption.

Utah is halfway to establishing a bitcoin reserve as H.B. 230 advances to the Senate Revenue and Taxation Committee, with a public hearing set to decide whether up to 5% of state funds can be invested in bitcoin.

Institutional managers poured into newly rebranded Strategy in Q4, acquiring large stakes and $37 billion in MSTR options, highlighting bullish sentiment around the firm’s massive bitcoin holdings.

HOW BITCOIN WORKS

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

Is the Dollar a Meme Coin?

This week, Argentina's President Javier Milei was in the news for allegedly promoting a meme coin. While it seems like Milei made a mistake, meme coins are helpful in one way. They provide a counterexample to people who are learning what sound money should be.

Ever since President Nixon severed the link between gold and the U.S. dollar in 1971, it has existed as a “pure fiat” currency. Like meme coins issued by small groups of insiders, the monetary policy of dollars is decreed by the Federal Reserve – an elite group of technocrats whose decisions affect the billions of dollar users worldwide.

Though dollars are legally required for tax payments and enjoy "legal tender" status, their broader acceptance and perceived stability hinge on faith in the U.S. government's competence. Some believe that the dollar’s value ultimately rests on global oil markets and the military might supporting them.

In contrast, bitcoin operates through decentralized consensus. Its supply follows auditable code, leaving no room for discretionary insider changes.

Critics often label meme coins as purely speculative tokens with questionable fundamentals, but that description can be turned around on any fiat currency once you remove the legal privileges and military backing.

At its core, the dollar's acceptance rests on the shared belief in America's financial and geopolitical strength, in a way not too dissimilar to how meme coins rely on the hype and promises of their backers. Of course, the dollar differs from meme coins in many ways, from institutional support to its widespread network effect. Still, comparing the two highlights what truly props up fiat: trust in a small group of fallible humans.

Bitcoin, by contrast, is anchored by transparent, decentralized protocols rather than political structures. Viewing the dollar through a "meme coin" lens may be an oversimplification, but it reminds us that trust – even when backed by armies and laws – is ultimately a social construct.

COIN CHECK

How many bitcoins does Strategy (formerly MicroStrategy) own?

1. 2,100,000 bitcoins

2. 478,740 bitcoins

3. 293,340 bitcoins

4. 256,890 bitcoins

Check your answer at the end of the page.

FROM THE MEME POOL

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ANSWER

2. 478,740 bitcoins. See their buying here.

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