The Bitcoin Business Newsletter | Gold vs Bitcoin

Key Insight

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

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Are there no sensible reasons to audit the U.S. gold reserves, untouched by a full audit for decades? Even if the reported gold is still there, and the bars aren’t gold-plated tungsten, wouldn’t verifying their authenticity and quantity be prudent?

Now, imagine the majority waking up to bitcoin—an asset audited and secured every 10 minutes, open for anyone to verify, anytime. Gold’s had over 3,000 years to anchor a fair, thriving society for all, yet here we are. With bitcoin’s clear advantages—transparency, immutability, accessibility—maybe it’s time to hand over the reins.

The stories we’re sharing in this week's edition of the newsletter suggest bitcoin adoption is accelerating rapidly. Let’s dive in.

Satoshi's Per US Dollar: 1031

Stock-to-flow price of bitcoin: $454,969

Bitcoin's total market capitalization: $1.92T

Bitcoin's dominance in the overall cryptocurrency markets sits at: 60.1%

Logarithmic Growth Curve suggests bitcoin is currently: Undervalued!

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Treasury Adoption Updates and News:

• Goldman Sachs doubles down on Bitcoin ETFs, increasing holdings by 120% in Q4
• GameStop, with a $4.6B cash reserve, is considering bitcoin investment
• Abu Dhabi’s sovereign wealth fund discloses $436 million in iShares Bitcoin ETF
• A Forbes article written by Eden Yago says “Unlike central bank-issued currencies, bitcoin’s fixed supply enforces market discipline, as in the case of a bank run, nobody can create more coins to bail them out.”
• Eric Semler, Head of Semler Scientific (a company we’ve mentioned earlier due to their adoption of a Bitcoin Reserve Strategy), is advising Eric Yuan, Zoom’s creator, and CEO, to invest some of their $7.7 billion cash reserves into bitcoin
• Recent events in the gold market might  trigger a mass exodus to bitcoin, says Jeff Parker, Head of Alpha Strategies at Bitwise Asset Management 
• Bitwise CEO Hunter Horsely “sees unstoppable mainstream growth in bitcoin adoption”
• Metaplanet acquires additional 269 bitcoins
• A new report by the Perryman Group highlights that the U.S. bitcoin mining industry supports 31,000 jobs
• Utah advances bitcoin reserve bill
• Strategy to raise an additional $2 billion through convertible notes to buy more bitcoin
• Fold is set to go public on the Nasdaq (February 19 2025) as the first bitcoin-only financial services company

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Top News Stories

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Strategy Announces $2 Billion Convertible Note Offering

Strategy is raising $2 billion through a convertible note offering, primarily for corporate use and potential Bitcoin acquisitions.

Institutional Bitcoin Boom as Major Funds and Banks Disclose Billions in Holdings

Major institutions are amassing billions in Bitcoin ETFs, signaling accelerating institutional adoption and a financial shift.

How El Salvador’s IMF Deal Is Affecting Bitcoin’s Status

El Salvador amended its Bitcoin law under an IMF deal, limiting its official use and raising uncertainty over future government Bitcoin holdings.

West Virginia Senator Proposes Bitcoin Reserve Bill – Bitbo

A new bill in West Virginia seeks to allow the state treasury to invest up to 10% of its holdings in Bitcoin and precious metals.

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Other Noteworthy News

💼Tether Pushes Back Against JPMorgan Analysts’ Bitcoin Sale Claims

💳Fold to Make History as First Bitcoin Financial Services Firm on Nasdaq

📊12 US States Hold $330M in Strategy Stock, Analyst Finds

🏦Abu Dhabi Invests $437M in BlackRock's Bitcoin ETF

🔹Metaplanet Acquires 269 BTC, Sets 35% Quarterly Yield Target

🔶Elon Musk's DOGE prepares to audit US gold reserves at Fort Knox after urging by Sen. Rand Paul

💰Paul Tudor Jones’ firm, Tudor Investment, discloses owning $426.9M in IBIT (8,048,552 shares), nearly doubling its Q3 holdings.

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Is it time to integrate bitcoin into your business?

Have you considered adding bitcoin to your balance sheet but feel overwhelmed by the complexity? Simply reply to this email to schedule a free consultation—we'll help you get started and answer all your questions.

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Recommended Articles

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Why Bitcoin Is the Best Asset for Business | Sovreign Bitcoin Consulting

Compare the returns of every other major asset class to bitcoin, and you'll understand why bitcoin is a compelling addition to any balance sheet.

This article by Adrian Christiansen highlights how bitcoin has consistently outperformed all major asset classes, making it the ultimate benchmark for value, where holding bitcoin is often a better long-term strategy than taking on additional financial risks.

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Bitcoin or Crypto: What's Better for Business? | Sovreign Bitcoin Consulting

In business, you can't afford to waste your time on crypto. Learn the critical difference that sets bitcoin apart.

Brady Tinnin's article explains how bitcoin differs fundamentally from other cryptocurrencies. While bitcoin offers true scarcity and a trustless monetary system, other crypto projects rely on trust and struggle to maintain their value over time. This makes bitcoin uniquely viable for businesses seeking financial stability.

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Recommended Podcasts

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Your Business Is Losing Money… Here’s the Fix! - Daniel Frank

Business Bitcoinization · Adopting Bitcoin as a treasury reserve asset is crucial for businesses facing inflation, Bitcoin is fundamentally a technology that addresses systemic monetary issues, not merely an investment, The volatility of Bitcoin often deters businesses from adopting it, despite its potential benefits…

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BTC221: Bitcoin Self-Repaying Mortgage Products w/ CJ Konstantinos (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network · CJ Konstantinos, founder of People’s Reserve, shares his journey into Bitcoin, the philosophy behind his company, and groundbreaking products like self-paying mortgages. Discover insights on Bitcoin-backed loans, navigating regulatory challenges, and the evolution of traditional banking in a Bitcoin-driven world.

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Why Businesses Need Bitcoin - Henry Herbert (Ep #176)

The Bitcoin Collective · Henry dives into the challenges of running a bakery and the importance of quality in their products. He’s personally into Bitcoin but now looking at its potential to secure the future of their family business and ensure it continues to be passed down the generations. He emphasises the need for businesses to adapt and grow in a changing economic landscape, highlighting Bitcoin as a solution for long-term business sustainability.

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Will U.S. States Buy Bitcoin? $23 Billion in Proposed Bills Say Yes

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Chart of the Week

Since our last newsletter, 15 additional states have introduced bitcoin and digital asset legislation, as shown in this chart. The visualization tracks legislative activity across the U.S., highlighting which states are taking active steps toward bitcoin-related policies.

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“There are 3 eras of currency: Commodity based, politically based, and now, math-based.”

– Chris Dixon

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