The Bitcoin Business Newsletter | Self-Custody and Buying

Key Insight

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

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This week serves as a perfect reminder not to lose sight of what's important, especially when headlines focus on bitcoin's price decline and the record day of $1 billion in ETF outflows.

What are the institutions' intentions in selling? It's hard to tell—perhaps even impossible. As someone who has immersed myself in philosophical literature since age 18, one recurring lesson stands out during these times:

Care only about that which you can control.

No one can stop institutions, corporations, businesses, or nation-states from buying or selling bitcoin. Who else can’t be stopped?

You, of course.

The Bitcoin anyone buys and stores securely in a cold wallet is Bitcoin that no one can steal or copy. In dollar terms, those bitcoins might fluctuate in value. But as long as we measure bitcoin in an inflationary currency, those metrics will only ever be quasi-denominators.

Like a one-of-a-kind Picasso or Van Gogh, every bitcoin stands out as distinctive and immutable. Rooted in physics and mathematics and protected by its owner, it maintains its core properties.

Satoshi's Per US Dollar: 1166

Stock-to-flow Price of Bitcoin: $469,973

Bitcoin's total market capitalization: 60%

Bitcoin's dominance in the overall cryptocurrency markets sits at: $1.70 trillion

Logarithmic Growth Curve suggests bitcoin is currently: Undervalued!

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Treasury Adoption Updates and News:

• Marathon Digital now holds 45,659 BTC, cementing themselves as a major treasury player among bitcoin mining firms.
• Bank of Montreal boosted its Bitcoin ETF holdings from $13 million to $150 million.
• Tudor Investment doubled its stake in BlackRocks’s iShares Bitcoin Trust (IBIT) to $426.9 million, making it their largest position.
• SBC Medical Group, a Tokyo-based Delaware corporation, announced plans to purchase around $6.6 million worth of bitcoin for its treasury.
• Strategy raised $2 billion via zero-coupon convertible debt to buy more bitcoin.
• JPMorgan Chase announces plan to launch crypto-custody service by 2026.
• Nasdaq-listed ATM Operator Bitcoin Depot expands treasury holdings.
• Metaplanet adds $12.9 million to its bitcoin holdings, bringing the new total to 2235 BTC.
• Rezolve Ai just announced a $1B #bitcoin treasury, starting with a $100M purchase.

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Top News Stories

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Strategy Nears Half a Million Bitcoin With $2 Billion Convertible Notes Offering

Strategy raised $2 billion through 0% convertible notes to acquire 20,356 Bitcoin, nearing 500,000 Bitcoin amid mixed market reactions.

South African Investment Firm Altvest Capital Adds Bitcoin to Treasury Reserves

Altvest Capital is investing in Bitcoin as a reserve asset and hedge against currency depreciation.

Montana Becomes the Fourth U.S. State to Advance Bitcoin Reserve Bill to House

Montana's House committee approved a bill to include Bitcoin in state reserves, advancing it to the House.

Senator Lummis to Chair First Digital Asset Hearing Wednesday – Bitbo

Senator Cynthia Lummis will lead the first Senate Digital Asset Subcommittee hearing on February 26, marking a major step in shaping U.S. Bitcoin and digital asset legislation.

Bitcoin ETFs See $516M in Outflows Amid Market Decline – Bitbo

U.S. spot Bitcoin ETFs recorded $516 million in net outflows on Monday, the fifth-largest since launch, as Bitcoin's price fell 7.6% to $88,547.

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Other Noteworthy News

📈Strategy Buys 20K BTC, Holdings Near 500K Coins

🏢GameStop Urged to Convert $5B Cash Reserves Into Bitcoin

📊Fold Adds 10 More Bitcoin to Corporate Treasury

⚡Fidelity Digital Assets releases a report on the Lightning Network.

💬President Trump says: Bitcoin has set multiple all-time highs because everyone knows I'm committed to making America the crypto capital.

💡Strategy’s Michael Saylor says the US should aim to hold 20% of Bitcoin

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Recommended Articles

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Create New Revenue Streams Without Selling More Products | Sovreign Bitcoin Consulting

Bitcoin offers unforeseen ways to create new revenue streams. Instead of new product and service innovation, consider capital innovation.

This article by Brady Tinnin explores how businesses can increase revenue without additional costs by adopting Bitcoin, highlighting its advantages over fiat currency in terms of preserving value, reducing transaction fees, and creating new revenue streams.

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Integrating Bitcoin for Your AI Business Operations | Sovreign Bitcoin Consulting

AI is revolutionizing how businesses operate. On the cusp of that innovation stands Bitcoin, ready to streamline how AI agents interact with each other.

Dan Pelberg explores how AI is transforming business operations and how bitcoin, particularly through the Lightning Network, will play a crucial role in enabling micropayments, resource allocation, and smart contracts for AI-driven services. A must-read for anyone interested in bitcoin and AI.

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Bitcoin Is For Companies, Not Criminals | Sovreign Bitcoin Consulting

Bitcoin's transparent nature means that it's suitable for companies to use as a trust-building tool, not for criminals to obfuscate funds. Learn how to apply it for your business.

This article by Brady Tinnin explains how bitcoin’s transparency helps businesses build trust with customers, dispelling myths about its use by criminals and highlighting the growing trend of Proof of Reserves for accountability.

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Recommended Podcasts

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"The Big Print" is Coming with Larry Lepard (WiM555)

The "What is Money?" Show · Larry Lepard joins me to explore his new book “The Big Print”, what the next decade of money printing will look like, how inflation destroys the middle class, Metcalfe’s Law and the power of network effects, Bitcoin vs gold, the threat of paper bitcoin, the creation of a Strategic Bitcoin Reserve, and the hope of a hyperbitconized future.

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Ron Paul on Exposing the Truth: Auditing the Fed, Fort Knox Gold, and Wealthy Politicians. Why We Need Sound Money and Small Government

Coin Stories · In this episode with Dr. Ron Paul, we discuss: Government waste and fraud, How some elected officials are worth $50 million on a $200,000 salary, Does the U.S. have all the gold it claims to?, Auditing the Fed, Fort Knox and all government agencies, Bitcoin and cryptocurrency, The U.S. dollar's reserve currency status & Why Ron has optimism about the future.

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Chart of the Week

Bitcoin Lightning Capacity

This chart displays the total capacity held by all nodes on the Lightning Network, with the option to toggle between USD and BTC capacity.

The Lightning Network is a Layer 2 solution that enables fast, low-fee bitcoin micropayments by using off-chain channels, addressing the Bitcoin blockchain's scalability limitations.

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“Think of bitcoin as a bank account in the cloud, and it’s completely decentralized: not the Swiss government, not the American government. It’s all the participants in the network enforcing.

– Naval Ravikant

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