Bitcoin fell below $119,000 on Thursday after US Treasury Secretary Scott Bessent said the government will not make new BTC purchases to fund a Bitcoin reserve.
▶️ Treasury secretary Scott Bessent says the US will not be buying any bitcoin ▶️They will hold the $15-$20 billion in bitcoin they already have and confiscate more ▶️The statement contrasted with President Donald Trump’s earlier executive order directing the government to develop “budget-neutral strategies” for increasing Bitcoin holdings. ▶️In April, Bo Hines, who at the time was a part of the Presidential Council of Advisers for Digital Assets, said the administration was exploring funding options for Bitcoin acquisitions, including tariff revenue and a reevaluation of the Treasury’s gold certificates. ▶️In a silver lining to the sentiment-dampening statement, the Bessent did confirm that the US does not plan to sell any of its existing Bitcoin holdings ▶️Bessent’s comments echo White House AI and crypto czar David Sacks, who said a Bitcoin reserve would be “a digital Fort Knox for the cryptocurrency,” and the US wouldn’t sell any Bitcoin it put in the reserve. Source: cointelegraph
Including staking rewards, ether $ETH has now outperformed bitcoin $BTC by 900bps YTD.
Source: Bloomberg, @matthew_sigel on X
Michael Saylor's Strategy has bought more Bitcoin than all other public companies combined 🤯
Source: cryptorank.io
Here we go...
$BTC Source: Trend Spider
Norwegian sovereign wealth fund boosts bitcoin exposure 192% to $844 million
Source: Bitcoin News
Incredible charts by BofA...
Bitcoin and gold are the two best best performing assets YTD and over the last few years... However, fund managers are massively under-exposed to those 2 store of values... Indeed, 75% of fund managers have no exposure at all to cryptos. And even more surprisingly, 41% of fund managers have no exposure at all to gold... The least we can say is that they don't look as crowded trades... Source: BofA thru Callum Thomas
Top 100 Bitcoin treasury companies hold almost 1 million Bitcoin
Source: Jason Ai. Williams @GoingParabolic
Harvard owns more Bitcoin than Alphabet/Google shares
Source: Documenting Bitcoin
