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The Bitcoin Business Newsletter

For leaders who need to stay informed.

January 23, 2025

By Sovreign

Executive Summary

• Bitcoin Adoption on The Rise: Institutional confidence in bitcoin continues to rise, with major companies increasing their holdings and market optimism surging following supportive signals from the White House.

Key Headlines:

• Michael Saylor, MARA execs meet with Trump team aligning with possible bitcoin reserve.

• Massachusetts Proposes Bitcoin Strategic Reserve Bill.

• Utah Lawmaker Proposes Strategic Bitcoin Reserve Bill.

• Wyoming Introduces Bill To Establish Bitcoin Strategic Reserve.

• Critical Metals Corp. Adopts $500M Bitcoin Treasury Strategy

• Genius Group announces $33 Million Rights Offering to increase Bitcoin Treasury.

Key insight

This week, Felipe Muñoz provides a snapshot of the bitcoin and the overall development in the market.

A new week in bitcoin arrives, this time with an administration in the White House that expresses support for our industry. The march towards global adoption continues one step at a time. Following Donald Trump's inauguration, market expectations have surged. Despite recent price peaks, the holdings of major investors, or "whales," continue to grow, signaling confidence in further market increases. Let’s review what has happened:

Price Trends:

Satoshi's Per US Dollar: 965

Stock-to-flow Price of Bitcoin: $388,000

Bitcoin's total market capitalization: $2.05 trillion

Total addresses holding non-zero balance: 26,872,848 (≈26.9 million)

Bitcoin's dominance in the overall cryptocurrency markets sits at: 57.4%

Logarithmic Growth Curve suggests bitcoin is currently: Undervalued!

Treasury Adoption Updates and News:

  • Bitwise, the issuer of Bitcoin ETF (BITB), suggests Bitcoin's fair value is more than $200,000 per coin, as more companies deem Bitcoin appealing hedge against sovereign default risks. The price sits at around $104,000 at the time of writing.

  • MicroStrategy adds 11,000 bitcoin to its treasury, marking the first ever $1B+ purchase above $100,000 per coin. The company now holds 461,000 bitcoins.

  • MicroStrategy shareholders vote to increase the number of authorized stock, fueling bitcoin purchases.

  • KULR, a thermal energy management company, acquired close to 80 bitcoins for approximately $8 million, bringing their total bitcoin holding to 510.

  • Genius Group, an AI-powered, Bitcoin-first education group, announced on January 10th an increase to 372 bitcoins, adding $5 million.

  • Nasdaq-listed Ming Shing Group, a wet trades works service provider, purchased 500 bitcoins for their treasury, becoming the latest reserve strategy adopter.

  • SemlerScientific, a pioneer in technology products and services for healthcare providers, purchased 237 bitcoins, now holding 2321.

Top News Stories

Michael Saylor, MARA execs meet with Trump team aligning with possible Bitcoin reserve

Incoming Donald Trump administration's engagement with Bitcoin giants could herald a US mining resurgence.

Massachusetts Proposes Bitcoin Strategic Reserve Bill

Massachusetts introduces a bill to create a Bitcoin reserve, capping investments at 10% of its stabilization fund.

Wyoming Introduces Bill To Establish Bitcoin Strategic Reserve

Wyoming's House Bill 0201 proposes investing up to 3% of state funds in Bitcoin with oversight and annual reporting.

Critical Metals Corp. Adopts $500M Bitcoin Treasury Strategy

Critical Metals Corp. is adopting a $500M Bitcoin reserve strategy to enhance financial flexibility and align with market trends.

Utah Lawmaker Proposes Strategic Bitcoin Reserve Bill

Utah proposes allocating up to 10% of state funds into Bitcoin to boost resilience, diversify resources, and protect self-custody rights.

Genius Group announces $33 Million Rights Offering to increase Bitcoin Treasury

SINGAPORE, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a…...

Other Noteworthy News

🪙MicroStrategy Acquires an Additional 11,000 Bitcoin

🔴Coinbase CEO Predicts Bitcoin Reaching 'Multiple Millions'

🔵Arizona State Senator Wendy Rogers has introduced a ‘Strategic Bitcoin Reserve’ bill, making Arizona the 10th state to join the movement.

🟢Pro-Crypto Mark Uyeda Named Acting SEC Chair With Gensler Gone

🟡U.S. CFTC Commissioner Caroline Pham Gets Trump Nod as Acting Chair

Recommended Article

President Trump Has Got A Bold Vision For Bitcoin In America

As President Donald Trump’s second term begins, the Bitcoin community looks to his bold promises on Bitcoin regulation, national strategy, and economic growth. What’s in store—and how soon?

Donald Trump’s presidency supports Bitcoin, aiming to end restrictions, reject a CBDC, and secure government-held Bitcoin, marking a major shift in U.S. policy.

Companies Buying Bitcoin: An Overlooked Megatrend

Subscribe to get the Weekly CIO Memo sent right to your inbox. By Matthew Hougan It’s not just MicroStrategy; it’s a bona fide megatrend, and it’s big enough to tilt the bitcoin market significantly upward this year.

Companies are increasingly adopting Bitcoin as a treasury asset, driven by improved accounting rules and growing recognition of its value.

Adopting Bitcoin as a Business, with Sovereign Co-CEO Joe McGee

Podcast Episode · Businesses all over the world are considering Bitcoin's role in their financial strategy. Especially since Michael Saylor and his company Microstrategy turned the investment world on it's head with their purchase of 450,000 Bitcoins. Since then, Microstrategy's stock has surged, catching the attention of investors globally.

Chart of the Week

Bitcoin Price Live

Bitcoin is a long-term asset; since 2010, it has gone up 172,774,900.00%, making it the best-performing asset ever.

Hold on to your bitcoin, you may never get it back.

“The theory of money needs to be deduced from the theory of value. Only when we understand the spontaneous order of money, can we understand the natural desire to choose money that preserves value.”

– Carl Menger