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The Bitcoin Business Newsletter

For leaders who need to stay informed.

April 10, 2025

By Sovreign

Key Insight

This week, markets were jolted by Trump’s tariff war—fueling volatility across financial markets globally. It’s a timely reminder: Bitcoin doesn’t do tariffs. It isn’t bound by borders or manipulated by central banks. Yet despite its neutrality, Bitcoin still trades like a risk-on asset. This can be attributed to people’s lack of understanding of its true nature and potential. As a result, its price often reacts to broader market sentiments and geopolitical events, much like stocks or commodities. Over time, as education and adoption increase, Bitcoin may begin to decouple from these patterns and be recognized for its unique properties.

Adrian Christiansen just published an article breaking down the emerging Bitcoin-native KPIs from treasury-focused firms. From BTC Yield and Bitcoin NAV to B-Rate and Bitcoin $ Gain, these metrics provide investors and operators with a clearer framework for evaluating performance.

Meanwhile, Theya just launched Theya for Business to the broader market—a new product aimed at making Bitcoin self-custody simple, scalable, and team-friendly. If your business is looking for a self-sovereign way to store your Bitcoin, we can help guide the setup and architecture to avoid early missteps.

Meet our new CEO, Brandon Karpeles. He joins us on the latest episode of the podcast to share his story and what he sees ahead.

Volatility will come and go. Monetary chaos will persist. But more companies are learning that Bitcoin isn’t a bet, it’s the benchmark.

Bitcoin Well logo PNG

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Top News Stories

Trump tariffs: World breathes sigh of relief after U.S. tariff reprieve; China's duties kick in

Follow CNBC's live coverage of President Donald Trump's historic tariffs.

Kraken, Mastercard to Launch Bitcoin Debit Cards in EU and UK – Bitbo

Kraken has partnered with Mastercard to release physical debit cards in Europe and the UK, allowing users to spend Bitcoin and stablecoins directly.

Alabama Proposes Bills to Hold Bitcoin Reserves – Bitbo

Alabama lawmakers have introduced two nearly identical bills to allow the state to invest up to 10% of public funds in Bitcoin.

$100M Pulled from Bitcoin ETFs After Tariff Shock – Bitbo

Spot bitcoin ETFs saw nearly $100 million in outflows as U.S. markets tumbled on President Trump’s new tariff plan.

Alabama, Minnesota lawmakers join US states pushing for Bitcoin reserves

Lawmakers in the US states of Minnesota and Alabama have filed companion bills to identical existing bills that will allow each state to buy Bitcoin.

Other Noteworthy News

💼Bitwise is launching $IMST, $ICOI, and $IMRA: three active option income strategy ETFs.

⛏️CleanSpark Mines 706 Bitcoin in March, Hits 42.4 EH/s

💳Jack Dorsey: Bitcoin Payments Coming to Square, Bitkey

🔒Saylor Reaffirms 'HODL' After $700M Bitcoin Transfers

🏦Pierre Rochard Launches Bitcoin Bond Company for Institutions

🏛️Senator Ted Cruz Pushes FLARE Act to Mine Bitcoin With Flared Gas

👤Arthur Hayes: Tariffs and Printed Money Boost Bitcoin

🪙Ryan Cohen just went deeper into GameStop.

Success Metrics of Businesses in Hyperbitcoinization | Sovreign Bitcoin Consulting

An overview of the Bitcoin metrics that will define what success looks like for businesses in the 21st century.

Read Adrian Christiansen's article on how Bitcoin-denominated KPIs are becoming the new standard for measuring business performance in a Bitcoin-based economy.

Why Trump’s Tariffs Can’t Fix The Broken Fiat System

The Trump tariffs will not revitalize the American economy like he thinks, but maybe Bitcoin can help where tariffs can't.

Trump’s tariffs won’t fix America’s economic decline because they ignore the root cause—fiat currency and inflation—while Bitcoin offers a market-driven alternative.

From Corporate to Bitcoin Startup CEO | The Bitcoin Business Podcast

The Bitcoin Business Podcast · After twenty years in traditional finance, Brandon Karpeles is making a bold move—leaving his established career to become the CEO of a Bitcoin startup focused on business adoption. In this episode, we dive into Brandon’s journey — what pulled him into Bitcoin, why he believes now is the time to build, and how his experience in the legacy system shaped his conviction in a Bitcoin-native future.

#604: Tariffs Expose the Euro Banking Fraud with Tom Luongo

TFTC: A Bitcoin Podcast · Marty sits down with Tom Luongo to discuss the impact of Trump's tariffs.

Chart of the Week

Bitcoin Long Term Power Law

The Bitcoin Long-Term Power Law chart shows a price range based on Bitcoin’s past trends, using a simple line to estimate how high or low the price could go over time.

How to Interpret It:

  • Bitcoin is expected to reach $100,000 between 2021 and 2028 and stay above that after 2028.

  • It’s projected to hit $1,000,000 between 2028 and 2037 and stay above that after 2037.

Source: Bitcoin BiTBO

“Ten percent of my net worth is in this space.”

– Mike Novogratz, hedge fund manager, Galaxy Digital Assets