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The Bitcoin Business Newsletter

For leaders who need to stay informed.

April 03, 2025

By Sovreign

Key Insight

This week's key insight is written by Felipe Muñoz.

A week of fresh news of adoption and favorable development. What’s with all the FUD (fear, uncertainty, doubt)?

Blocks are not filling up, which indicates there’s a lot of room for activity in the network. Jack Dorsey recently said in an interview that bitcoin fails through becoming irrelevant, and must move past the store-of-value narrative if it is to succeed. People must use Bitcoin for everyday payments.

Throughout human history, hard money has always been the preferred and most used form of money. As pointed out by authors such as Vijay Boyapati and Nick Szabo, money evolves first as a collectible, then as a store of value, a medium of exchange, and finally as a unit of account.

History doesn’t necessarily repeat itself, but it most certainly rhymes.

Trump's and Musk's efforts to cut spending appear to be slowly succeeding. There is, however, no guarantee that the next 1-5 presidents will continue their efforts. The chances are still high that money printing will continue globally.

And there’s only one asset that is designed to fix that. I think Jack Dorsey knows what asset that is.

Satoshi's Per US Dollar: 1204

Fear and Greed Index: Fear (34/100)

Stock-to-flow Price of Bitcoin: $568,168

Bitcoin's total market capitalization: $1.65T

Bitcoin's dominance in the overall cryptocurrency markets sits at: 61.4%

Logarithmic Growth Curve suggests bitcoin is currently: Very Undervalued!

Treasury Adoption Updates and News:

  • American Bitcoin announced a new mining venture by Eric Trump

  • Alabama and Minnesota are both pressing ahead with legislative frameworks for state Bitcoin reserves

  • FLARE Act, proposed by Senator Ted Cruz, aimed at repurposing flared gas for bitcoin mining

  • Greyscale introduces two new Bitcoin-focused exchange-traded funds

  • Per directive from President Trump, U.S. agencies must disclose crypto asset holdings by April 5th

  • Metaplanet continues adding Bitcoin to its reserves, now holding 4,206 Bitcoin

  • Indian IT Firm Jetking announced plans to expand its Strategic Bitcoin Reserve

Thinking About Bitcoin for Your Business?

Want help with your bitcoin plans—or know someone who does? Simply reply to this email and our advisors can help you with everything from A-Z.

Top News Stories

Tether Acquires 8,888 Bitcoin in Q1 as Holdings Reach Over $8 Billion

Tether added 8,888 Bitcoin in Q1, boosting its holdings to over $8 billion under its 15% profit allocation strategy.

Bitwise CIO says Trump's Strategic Bitcoin Reserve removes 'last existential risk' as BTC becomes 'best backup plan on the market'

As a result, on a risk-adjusted basis, now is the "best time in history to purchase bitcoin," Hougan argued.

US government set to reveal Bitcoin and crypto holdings on April 5 | Cryptopolitan

The upcoming disclosure will reveal what the government owns at the moment and its plan regarding digital assets in the future.

The Blockchain Group adds 580 BTC as stock jumps 226% since Bitcoin pivot

The Blockchain Group has grown its Bitcoin stack to 620 BTC after buying 580 more, while its stock keeps climbing — up 220% since November.

South Carolina Plans Bitcoin Reserve, Ends Coinbase Case – Bitbo

South Carolina has introduced a bill to invest in Bitcoin while simultaneously dismissing its lawsuit against Coinbase over staking services.

Other Noteworthy News

💰MARA Holdings Announces $2 Billion Stock Offering to Buy More Bitcoin

🚀Metaplanet Adds 696 BTC, Q1 Yield Hits 95.6%

🪙Strategy Acquires $1.92 Billion in Bitcoin, Marking Its Second Massive Buy in 2025

📜Senator Tuberville just announced he will reintroduce the Financial Freedoms Act tomorrow. It will give all Americans "the freedom to invest their retirement" in Bitcoin.

🏛️Senator Bobby Moreno says he aims to pass Senator Cynthia Lummis’ BITCOIN Act, which would establish a Strategic Bitcoin Reserve, into law by August

🎙️Trump Endorses Pro-Bitcoin Senator Lummis: ‘Make US The Crypto Capital’

⚖️California Adds 'Bitcoin Rights' to Digital Assets Bill

🔐Financial Technology Protection Act Reintroduced in Congress

📈GameStop Prices Bitcoin Notes at 35% Premium

Bitcoin-Enhanced Treasury Bonds: An Idea Whose Time Has Come

The United States faces an unprecedented fiscal challenge with approximately $9.3 trillion of federal debt maturing within the next 12 months. This substantial refinancing requirement, combined with prevailing market interest rates approaching 4.5%, creates significant ongoing costs to service this debt. These costs place an extraordinary burden on taxpayers and substantially constrain the government's fiscal flexibility and economic growth potential.

The policy brief proposes issuing Bitcoin-Enhanced Treasury Bonds (BitBonds) to reduce U.S. debt costs, grow national bitcoin reserves, and offer Americans a secure, growth-oriented savings vehicle—all without raising taxes.

How To Measure The Success Of A Bitcoin Treasury Company

A new playbook for evaluating a Bitcoin Treasury Company—using purpose-built KPIs that go beyond traditional finance to measure Bitcoin-first strategy.

A guide to measuring Bitcoin treasury success using ROI, risk reduction, time preference, and long-term financial strength.

#601: The Bitcoinization of Finance with Pierre Rochard

TFTC: A Bitcoin Podcast · Marty sits down with Pierre Rochard to discuss bitcoin rewriting the financial industry.

Sound Money vs the State: How Inflation Fuels Corruption w/ Tom DiLorenzo (WiM567)

The "What is Money?" Show · Tom DiLorenzo joins me to discuss the demonization of capitalism, the spiritual consequences of money printing, the mission of the Mises Institute, why Abraham Lincoln might be a fraud, how the Federal Reserve led to the US joining WWI, the difference between Austrian and Keynesian economics, Bitcoin vs Gold, and what a sound money future could look like.

Chart of the Week

State Directory

This chart shows how many active Bitcoin-related bills each U.S. state has. Currently tracking legislation in 35 states and 10 federal bills.

View the status of all the states here.

Source: Bitcoin Laws

“Bitcoin never sleeps. We need to move quickly and grow quickly and do everything sooner rather than later.”

– Roger Ver