The U.S. Treasury has just repurchased $10 billion of its own debt. 🚨 Just to be clear: this is the largest debt buyback operation in history. Probably nothing. Brrr 🖨️ image
Few people really know this, but as of today, there are already 223 entities — including 124 publicly traded companies — that have declared Bitcoin on their balance sheets. 🤯 In just the past month, 19 new companies have joined this group. But how are they custodying these BTCs? Most large companies use institutional custodians. In other words, they delegate the custody of their BTC to third parties, much like they would with a bank vault. But this solution comes with high costs and concentrated risks. After all, whoever holds the key… holds the Bitcoin. And we’re not talking about just a few bitcoins. If we combine private companies and publicly traded ones, we’re talking about more than 1.1 million coins. In total, institutional and corporate adoption of Bitcoin already holds over 3.39 million BTC in circulation. Several custodians are used, such as BitGo (Galaxy Digital, Fidelity Digital Assets, Anchorage Digital, and NYDIG). But Coinbase Custody is currently the largest, having reported $114 billion in assets under custody in 2024. For example, MicroStrategy uses Coinbase.
++ CIRCLE SURGES +186% AT THE OPENING OF ITS IPO. 🔥 Wall Street is starting to realize the power that stablecoins hold, but the most incredible thing is that a large part of the market is still asleep. Just imagine the volume of capital that will flow in through synthetic dollars… image
First they attack and reject it, then they adopt it. JPMorgan will offer loans collateralized with Bitcoin ETFs to its clients. #Bitcoin is the ultimate collateral, and this is just the beginning of this trend. image
An obvious step for any mining, energy, oil, and gas company. 🤯 Converting commodities from the fiat world into a scarce digital commodity in an era of monetary dilution. Bluebird is the first gold mining company to adopt a Bitcoin treasury strategy.
Yesterday, @jack mallers revealed the 5 Bitcoin addresses of TwentyOne Capital, confirming the capital flow we had been observing on Bitfinex. Currently, the company’s Proof of Reserves holds 37.23K BTC (about $3.9 billion). Hey, @Michael Saylor, you’re watching this, right? 👇 image
Today, June 4th, 2025, marks the 21st anniversary of the KILLDOZER — one of the most infamous acts of rebellion and defiance against government authorities. Marvin Heemeyer owned a small muffler shop in his town. The local government approved the construction of a concrete plant directly in front of his business, effectively blocking access and causing severe financial harm. Marvin repeatedly sought solutions through legal means, appealing to the city council to halt construction or allow partial access. Every request was denied. At one point, Marvin even offered to build an alternative access road at his own expense — he had purchased the necessary materials and machinery. Still, the city refused. To make matters worse, the concrete plant disconnected Marvin's shop from the town’s sewage system. Instead of helping, the city fined him for having improper sewage. 🤡 With his business failing and his personal life in ruins, Marvin meticulously planned his revenge. Over the course of 1.5 years, he secretly modified a bulldozer he had originally purchased for the road project. He fortified it with steel armor, installed bulletproof glass, and equipped it with a sophisticated camera system — state-of-the-art for the time. On June 4th, 2004, Marvin locked himself inside the armored bulldozer and began his mission, first demolishing the concrete plant that had devastated his livelihood. Over the next few hours, he drove through town, systematically destroying government buildings and the homes of public officials he held responsible for his plight. The SWAT team was deployed, but their weapons, including rifles and explosives, proved useless against the heavily armored KILLDOZER. Nothing seemed capable of stopping Marvin’s fury against the system — until the machine became trapped in the debris of one of the buildings he was demolishing. Surrounded and with no way out, Marvin took his own life — the only casualty of that day. Today, we remember the day of the KILLDOZER and Marvin Heemeyer — the last great American anti-hero. A simple man who decided to fight back after his life was destroyed by an indifferent government. Among his notes, one quote stood out: “I was always a reasonable person until I had to be unreasonable. Sometimes reasonable men must do unreasonable things.” 🫡
In #Bitcoin terms, almost everything keeps getting cheaper — even the massive U.S. deficit. This year, the estimate is $2.5 trillion. Every dollar of deficit is a dollar taken from private economic activity to fund the machinery of the state. Since 2008, the system’s solution has been negative interest rates (not allowing sustainable assets that yield more than real inflation) — so instead of nationalizing all economic activity, it simply wipes out anyone holding fiat. image