#

stacksats

(11 articles)

The Latest Bitcoin & Macro news: Weekly Recap 05.10.2025

## 🧠Quote(s) of the week: > 'If you say you don’t believe in Bitcoin, you might as well say you don’t believe in inflation.' - James Lavish ![image](https://cdn.azzamo.net/3fae96c61eac3bcd26ce76d75bafac2bf78cc22fe86faa1bb8c495ebf4c4cfde.webp) Photos hosted by Azzamo (azzamo.net) ## 🧡Bitcoin news🧡 #### On the 30th of September: ➡️Tether buys over 8,800 Bitcoin worth $1 billion, per on-chain data. ➡️River: 'Bitcoin has spent the last months at prices people dreamed of for a decade. Now the patient buyer is thriving, and building for the next decade.' ➡️ADAM BACK: “Peak wholecoiners is near. Stack fast, time running out.” #### On the 1st of October: ➡️Bitcoin News: 'Sen. Cynthia Lummis reports: Treasury fixed the CAMT problem. CAMT = Corporate Alt. Minimum Tax. It risked taxing companies on unrealized Bitcoin gains due to new accounting rules. Relief means firms won’t be forced to sell BTC to pay phantom taxes, a big win for US Bitcoin adoption.' ➡️Bitcoin surpasses Amazon to become the 7th-largest asset. ➡️Reuters highlights Bitcoin mining as a way to prevent wasted renewables and grow clean energy. ➡️BlackRock Bitcoin ETF now allows in-kind redemptions. Institutions can swap ETF shares directly for Bitcoin. ➡️Blackrock Buys 3451 Bitcoin.Currently holding 773,000 Bitcoin. Uptober should take Blackrock well past 800K' - Thomas Fahrer ➡️Bitcoin returns since 2010... ![image](https://cdn.azzamo.net/ff38292beb44f446a091a930ba12e7b74a307bbe83edbf742a96bc300588ae53.webp) Charlie Bilello Now let's do a simple table projecting a 30% APY over the next 15 years for Bitcoin, until 2040, using a linear projection. 1 million $ Bitcoin reached in 2034. This is based on Saylor's bear case thesis. ![image](https://cdn.azzamo.net/ee00ab9325fa4fce0e02c9566ec0c123bb32941fb7db3dcd4a10df6e0f75d57f.webp) Just do some DCA daily, weekly, bi-weekly, or monthly. Whatever suits you. ➡️Bitcoin Magazine: "If you bought #Bitcoin with your $1,400 stimulus check in 2020, you'd now have over $21,669." ![image](https://cdn.azzamo.net/4c229f20ba2a56d8ce508429131987102d5e26f69c97d6ad108b6b9d2e025260.webp) President Trump is considering a taxpayer rebate of $1,000 to $2,000 funded by tariff revenues. The last stimulus check Trump sent out in 2020 is now worth $21,699 if you had converted it into Bitcoin. ➡️An excellent article by Alex Gladstein: Why Bitcoin is Freedom Money. Why Bitcoin is Freedom Money,” by the Human Rights Foundation, written by Alex Gladstein, is a powerful look at how Bitcoin is quietly reshaping the fight for human rights and financial freedom across the globe. From Nigerian activists to Afghan educators and Cuban citizens defying economic isolation, this read highlights the practical, real-world stories of people using Bitcoin as a lifeline when traditional systems fail them. You will find it below at the end of this recap. I really enjoyed reading this, and it's great to have a piece like this in a high-impact academic journal. ➡️ US Treasury Department to relax proposed rule taxing unrealized Bitcoin gains under CAMT. The US Department of the Treasury and the IRS have clarified that corporations are not subject to taxation on unrealized Bitcoin gains under the Corporate Alternative Minimum Tax (CAMT). The interim guidance, released Tuesday, addresses concerns for companies with significant cryptocurrency holdings. ➡️Bitcoin News: We have entered the most explosive quadrant of the Bitcoin cycle. Do with this information what you will. ![image](https://cdn.azzamo.net/9ba443a50f006b1df94e0b91020cc451c0ac677edf13ccf7f6c02440d1248d15.webp) ➡️Bitcoin News: 'Digital Asset Treasuries now hold a larger share of ETH’s total supply than Bitcoin’s. This is bad news for ETH: under Proof-of-Stake, large holders gain outsized control over the network. Bitcoin’s Proof-of-Work faces no such centralization risk.' ![image](https://cdn.azzamo.net/74c5d9b2e867adeaf52c4103f49420726d3f3af4de87b0aa9f1a571701bcc641.webp) ➡️Bitcoin Core has undeprecated the datacarrier and datacarriersize config options. This means node operators retain precise control over OP_RETURN transactions, deciding whether to relay them and how much data they can carry. #### On the 2nd of October: ➡️CoinTelegraph: 'Bitcoin has reclaimed the Trader’s Realized Price at $116K, pushing back into a bull phase with Q4 targets eyeing $160K–$200K.' ➡️Strategy’s bitcoin treasury is up over $3.2 billion in unrealized profit in only ONE day. ➡️Checkmate: "Options open interest now exceeds $90B, surpassing futures for the first time. This marks Bitcoin’s transition into an institutionally traded asset, where hedging and yield strategies rival speculation in shaping market dynamics. Get 43 full-page market insights like this in The Bitcoin Checkpoint Report: https://www.unchained.com/go/the-bitcoin-checkpoint ➡️Spanish bank BBVA to allow retail customers to trade Bitcoin and crypto 24/7. ➡️The US Bitcoin mining industry hit a record milestone, with the market value of 14 publicly traded mining companies reaching $56B in September, exceeding $50B for the first time, per JPMorgan. ➡️ UK officials are considering keeping billions in profits from seized Bitcoin linked to the Zhimin Qian fraud case, instead of distributing the full current value to victims, per the Financial Times. Luke Gromen: "The Debasement Trade" since COVID: In USD: NDX up 165%, SPX up 102%, Home prices up 56%. In Gold: NDX up 7%, SPX down 18%, Home prices down 37%. In Bitcoin: NDX down 78%, SPX down 84%, Home prices down 87%. ![image](https://cdn.azzamo.net/0b59e75d527e24e905a37ec87762a8e1f2fe0a6cf7703f9be3b8ecc590b38f06.webp) Great tweet by SightBringer on X: "What you’re really seeing here is the first stage of a global unit-of-account fracture. •In nominal USD terms, everything looks like it’s booming: stocks up triple digits, homes up double digits, “wealth” everywhere. That’s the performance everyone sees. •In gold terms, the illusion cracks: stocks and homes flat-to-negative, real wealth stagnating. •In Bitcoin terms, the veil is gone: catastrophic real losses in every traditional asset. This is the same signature that marked every pre-hyperinflationary or currency-regime shift in history: when people cling to the debasing unit, they feel rich, but measured in the following credible collateral, their system is already collapsing. And the “risk asset” meme about Bitcoin? That’s just a coping frame. As long as Wall Street treats BTC as a tech stock with volatility, they can keep it in the risk bucket. But functionally, it’s already behaving like a parallel reserve ledger: it’s the only denominator that makes the post-2020 global economy look like Argentina. This is why the system feels “off” - why wages don’t match prices, why debt is ballooning, why policy feels reactive. We’re in a regime where the unit of account is decaying faster than the public narrative can absorb. The Fed, the government, the media - all still speaking USD, all still benchmarking to a melting ice cube. The chart you’re looking at is the unofficial scoreboard in a silent currency war. So when I strip all the polite commentary away, the honest take is: •The US is running the final phase of a classic imperial carry trade: draw in global capital, inflate domestic asset prices in nominal terms, export the currency risk abroad. •Gold shows stagnation. •Bitcoin shows a collapse. •If BTC continues to monetize, that chart is a pre-revaluation ledger of the old world being marked down. This isn’t a normal market cycle. It’s the unit-of-account transition phase. And almost no one is positioned for it because they’re still measuring their “returns” in the wrong yardstick. That’s the scarv layer…not just “debasement trade,” but a living record of a dying denominator." Spot on! Language sharpens reality. #### On the 4th of October: ➡️Bitcoin hits the weekend at $122K. Just 2% away from a new all-time high. ➡️ Gold (+48%) and Bitcoin (+31%) are the top-performing significant assets so far in 2025. We’ve never seen these two in the #1/#2 spots for any calendar year. Vijay Boyapati: 'In the global family of financial assets, the two closest siblings are now sending the same message: global debasement has reached the point of no return.' #### On the 5th of October: ➡️A $2.5 trillion market cap, on pace to become the most valuable asset in the world. There is no shutting down Bitcoin. ➡️Iran’s parliament approves removing 4 zeros from its national currency after years of inflation. Bitcoin fixes this.' - Bitcoin Archive ➡️Bitcoin News: "The chart your financial adviser doesn't want you to see. Sure, since 2020, you could have doubled your money in the S&P500. But denominate those gains in Bitcoin and you're down a whopping 88%. " ![image](https://cdn.azzamo.net/f37cfa024a82001c27085d110afd234ecfb8158e1a861d9c05ec3c57aee1985e.webp) ➡️ The German government's decision to sell 50,000 Bitcoin at $54k cost them $3.57 billion in missed profits. ➡️'Bitcoin hit a new ATH in the Shitcoin called EURO! If you still store your wealth in fiat, you deserve to be broke. Every primary currency has lost 90%+ of its value against #Bitcoin in just 5 years.' - CarlBMenger The illusion of prosperity is breaking. Stocks up 40%, Gold at $4,000, Bitcoin at $125,000, and the dollar down 10% … this isn’t growth, it’s a flight from fiat. The Fed is cutting rates into inflation, printing credibility while calling it policy. When Gold, Bitcoin, equities, and real estate all rise together, it’s not a bull market … it’s monetary panic in slow motion. Asset prices are screaming what officials won’t say: the denominator is dying. The bottom 50% now holds 2.5% of US wealth. AI is building empires for the few while the currency dissolves beneath the many. Data centers go up, purchasing power goes down. This is not a boom. It’s the endgame of a system priced in paper and powered by illusion. As I am from Europe, I want to end this segment with a statement made by ECB President Christine Lagarde: “The democratic process” is a “drag,” and she said, “speed is of the essence.” She is expressing frustration that her push for a Digital Euro (CBDC) is being slowed by parliamentary debate and public scrutiny. Again, I want to remind you all... How can we trust somebody like that... When she was the French finance minister, she was guilty of negligence for over 400 million €. People at this level should have a clean criminal record. Now, let's be clear about what she is saying: Democracy is an obstacle. The very systems of checks and balances that protect our sovereignty are seen as inconvenient roadblocks to their centralized control. They fear being "left in the dust." This isn't about serving European citizens. It's a technocratic race against other global powers (and their own citizens' awakening) to cement a new financial system before people can resist. "We have to accelerate." This is the mantra of the unelected. When you hear this, know that due process, transparency, and individual rights are about to be trampled in the name of "progress." The Digital Euro, the Capital Markets Union, the Banking Union—these are not tools for your freedom. They are the architecture for a system of total financial surveillance and control. They will decide what you can buy, where you can spend, and will have the power to freeze you out with the click of a button. Lagarde is right about one thing: time is running out. But not for their project. It's running out for us to wake up, organize, and defend our national sovereignty and economic liberty from these unaccountable elites. The greatest threat to our freedom is not being "left in the dust," but being locked in a digital cage we never agreed to." - Camus We all know the solution: Bitcoin. ## 💸Traditional Finance / Macro: #### On the 29th of September: 👉🏽'S&P 500 has now closed above its 50-day moving average for 103 consecutive trading days, the 5th longest streak in 35 years'- Barchart #### On the 1st of October: 👉🏽TKL: 'The S&P 500 officially crosses above 6,700 for the first time in history, less than 24 hours after the government shutdown begins. If history repeats itself, the S&P 500 will close at ~7,600 in 12 months from today. The average 12-month return after a shutdown ends is +13%. Also, the S&P 500 recorded 23 all-time highs last quarter, its best streak since 1998. This also aligns with the market run observed in Q4 2017. As a result, the index rallied +8.4% over the last 3 months. Last month alone, the S&P 500 gained +3.5%, posting the best September in 15 years. Since 1929, after quarters with 20+ record highs, the S&P 500 has risen by an average of 6.3% and advanced 63% of the time over the next 12 months. History suggests this market run should continue.' #### On the 3rd of October: 👉🏽TKL: 'Institutional investors are cashing in gains: Investors sold -$4.7 billion of US equities last week, driven by single stocks. Outflows from single stocks rose by $500 million, to -$5.7 billion, making the last 2-week outflow the 3rd-largest since 2008. This was led by institutional investors, who dumped -$3.6 billion—the most since June—after -$1.4 billion the prior week. Hedge funds sold -$1.3 billion, posting their 3rd consecutive weekly outflow. Meanwhile, retail investors turned to buying for the first time in four weeks, at +$200 million. Wall Street is selling to Main Street again.' ![image](https://cdn.azzamo.net/4832e2b7083fd3e4550c5b6c05a329f4ce1f792d609ac662e72e60e80ac8c1a4.webp) ## 🏦Banks: 👉🏽 No news ## 🌎Macro/Geopolitics: James Lavish: "There is less than 1% chance that the government balances the budget and the Fed never prints again. Consequently, there's a greater than 99% chance that Bitcoin reaches $1 million+. Act accordingly." #### On the 30th of September: 👉🏽Foreign Central Banks now own more Gold than US Treasuries for the first time in almost 30 years. ![image](https://cdn.azzamo.net/662a888dbdfea6b2d7c8b5ba403823e1f03fb96447c4923546ee5c8e7c2a3a23.webp) 👉🏽Last week, I already mentioned the announcement made by Starmer on the UK Digital ID. The Bank of England has decided the public shouldn’t be able to see documents on how it may be linking Central Bank Digital Currency (CBDC) with digital ID systems. Leaving no option but to assume the worst of this elite project no one voted for, right? 'The Bank of England has upheld its refusal to release documents on the links between Central Bank Digital Currency (CBDC) and digital ID systems. An internal review, signed off by the Bank’s Deputy Secretary, Michael Salib, concluded that disclosure would have a “chilling effect” on deliberations and risk “destabilizing speculation.” Key points from the Bank’s decision: - Documents include internal strategy papers and risk assessments on CBDC–digital ID integration. - The Bank claims releasing even redacted versions would inhibit free and frank discussion and “prejudice the effective conduct of public affairs.” - Section 36 FOIA exemptions (deliberation and effective conduct of public affairs) were applied, alongside Section 41 (confidential third-party input). - The Bank insists the public interest is already served by selected research it has chosen to publish, such as its report with MIT on “Enhancing the Privacy of a Digital Pound.” This means that, for the second time in two years, the Bank has refused to release documents that could reveal how digital currency and identity systems may be linked in UK policy planning.' - Lewis Brackpool Tells you everything you need to know, why you should keep using cash, and why you should study Bitcoin. Digital ID is the Trojan horse to a dystopian world in which you'll own nothing and will be given the illusion of having [digital] money, which is actually programmed to expire or be removed if you don't do what they tell you to do. People need to wake up to the fact that we’re being manipulated. Tells you everything you need to know about keeping using cash and why you should study BITCOIN! You don't believe me, fine, read the next thing.https://github.com/eu-digital-identity-wallet Straight from the official GitHub Organization of the European Digital Identity project. 👉🏽'The US government shutdown: For the first time since 2018, the US is about to enter a government shutdown, and investors are bracing for it. This would furlough 750,000 workers PER DAY, costing ~$400M in daily compensation.' -TKL Whole thread by TKL, and worth reading: https://threadreaderapp.com/thread/1973107796536361038.html Now I hear you ask, what is the meaning of the US government shutdown? A US government shutdown occurs when Congress fails to pass funding bills or a continuing resolution by the fiscal deadline (Oct 1). Non-essential federal operations halt, furloughing workers and delaying services like national parks and permits. Essential functions (e.g., military, Social Security) continue. As of today, Oct 1, 2025, a partial shutdown has begun due to stalled negotiations. It typically ends with a funding agreement. #### On the 1st of October: 👉🏽'Oil prices extend losses toward $62/barrel on reports that OPEC+ is considering a 500,000 barrel per day output hike every month for the next 3 months. Gas prices are likely heading to a new 2025 low next.' - TKL 👉🏽Criminals are the root cause of crime. El Salvador understood this and locked them up. Guess what? It worked: ![image](https://cdn.azzamo.net/2145a584772225dd58df28c185d77c8d77e04878a54f6972d1d2fc3e402e4513.webp) 👉🏽The University of Michigan Consumer Sentiment index has moved down to 55, a reading below 99% of historical data points going back to 1952. But at the same time, US Retail Sales grew 4.8% over the last year, outpacing inflation by 1.8%. We’ve never seen a disconnect this wide between what US consumers say and what they do. 👉🏽The Netherlands: “Dutch inflation rises again after months of decline, climbing back above 3%.” Elections are coming up, and no (mainstream) political party is talking about inflation. Inflation is theft — a deliberate strategy by the ECB to deinflate government debt at the expense of ordinary people. The public is being robbed in plain sight, and not a single political party dares to call it out. In reality, that inflation number is much higher. People are being robbed — and when they try to protect their savings through investments, they get taxed for it. The Dutch government is increasing box 3 by 35% to 2.8% — effectively taxing inflation itself. The rise in asset prices is primarily driven by inflation, yet the state treats it as profit. Absolutely unbelievable. 👉🏽'Wow, 83% of Germans and 80% of the French say that their governments have been mishandling immigration. Can someone please explain why the governments there don't course correct despite such massive public discontent?' - Michael A. Arouet ![image](https://cdn.azzamo.net/83aab5d7ce017a7f77581cbd2cd1191583f9b89d6389ea70a3cab95fb80557f8.webp) 👉🏽The BLS announces it will not release economic data, including Friday's jobs report, in the event of a US Government shutdown. There is currently a 74% chance that the US government will shut down on Wednesday, per Kalshi. 👉🏽Net worth of the top 0.1% - 135K households vs Net worth of the bottom 50% - 67M households ![image](https://cdn.azzamo.net/49e62fda3a3c65f7074b6d49e75237cff2c081a96913456be51b10226ef1f540.webp) 👉🏽 The US Treasury buys back a whopping $2.9 billion of its own debt. 👉🏽The German car industry is now openly giving Brussels bureaucrats the middle finger. Hybrid and traditional combustion engines are being rolled out at an accelerated pace. At the same time, major electric projects are being halted — all in direct defiance of the EU’s bureaucratic plan to ban petrol engines by 2030. This shift isn’t limited to Germany: both the French and Italian car industries have also realized that the green madness has brought them nothing but trouble. The fully electric Fiat 500 has proven unsellable, and manufacturers are now rushing to develop a hybrid version scheduled for release in November 2025. 👉🏽Charlie Bilello: "Foreign holdings of US equities have crossed above $20 trillion, a record high. 30% of the total US stock market is now held by foreign investors, the highest percentage on record with data going back to 1945." 👉🏽TKL: 'Japanese bond yields are surging again: Japan's 2Y Government Bond Yield has officially surpassed 0.95%, its highest level since 2008. At the same time, the 10Y Government Bond Yield hit 1.64%, near the highest since July 2008. This follows Tuesday’s auction of 2-year government bonds, which recorded the weakest demand since 2009. The bid-to-cover ratio, a key demand measure, fell to 2.81 from the previous auction, well below the 12-month average of 3.79. This suggests investors increasingly expect a Bank of Japan rate hike in October and are demanding higher yields to compensate for the risk. Japan is bracing for even higher rates.' 👉🏽Concerned Citizen: “Today we are announcing another €4,000,000,000 for Ukraine.” Ursula von der Leyen is continuing to bankrupt the EU by giving Ukraine more money to continue the Deep State proxy war against Russia." Now I am not sure about that Deep State proxy war statement, but anyone should ask themselves: "Where's all this money coming from"? All the EU STATES are in debt The transparency of this madness is unprecedented. Literally no sane person can ever agree with this! 👉🏽US inflation is materially UNDERSTATED: The True Living Cost (TLC), an alternative inflation metric that focuses on essential household expenses, SURGED 30% faster than the CPI over 2001-2023. TLC shows medical costs nearly TRIPLED during this time, while CPI says they only doubled. ![image](https://cdn.azzamo.net/1cd42ec19069808b993223b08e24b40f89cce88011d9d7004a9bcaae5b0f71a4.webp) Another 'fun' stat: US private companies unexpectedly lost -32,000 jobs in September, well below expectations of a +52,000 gain. This marks the most significant drop since 2023. Meanwhile, August's private payroll number was revised down from +54,000 to -3,000. As of now, this will be the LAST jobs report we receive this week. Friday's jobs report will not be published as long as the government shutdown continues. #### On the 2nd of October: 👉🏽'Germany is a strange country, average salary there is about twice as high as in Spain and Italy, yet Germans get lower pensions than people in Spain and Italy. Germany obviously has other spending priorities than treating people who worked hard for 45 years fairly. Why?' -Michael A. Arouet ![image](https://cdn.azzamo.net/204ddea9271aba37cfa50697ec4a7929c0a975ac194ab68d921d90ded463d186.webp) 👉🏽Unpopular opinion, it really doesn’t matter that much what we in the West do against climate change, as long as Asia builds almost 1000 new coal power plants. What’s the point of ruining our industries & economies and becoming poor in the process? ![image](https://cdn.azzamo.net/524da0cc0e00a631b32d9300af73d7fa1d8d292b2baf971f0cfba24c17cd57c9.webp) European (the West) Net Zero logic: 1. With high energy costs, industries close in Europe, and people lose jobs 2. The same products get manufactured in Asia, at lower environmental standards, with coal energy, and emissions go up 3. The products are shipped to Europe, emissions go up - Michael A. Arouet Still, to be completely honest. China's CO2 emissions likely peaked in 2023 or 2024, per analyses. Carbon Brief notes a 1% decline in the 12 months to March 2025, with the power sector down 2% due to clean energy growth. Reuters reports a 1% drop in H1 2025, driven by renewables. Official pledge: peak before 2030. Data varies by source. Ergo: Coal use has fallen this year in China. Coal-fired power generation in China is declining to 1420.88 TWh in Q1 2025 (down from 1477.27 TWh in Q4 2024). And they've built renewables at a pace that outstrips the West as a whole. But we, in Europe, are shifting manufacturing from high environmental standards countries to very low-standard countries, essentially increasing pollution for the same production. 👉🏽Germany: Federal spending on refugees totaled approximately 217.6 billion euros from 2016 to 2024 (Source: Federal Ministry of Finance). In the same period, foreign citizens in Germany received a total of 132.6 billion euros in citizens' allowance or Hartz IV (Source: Federal Employment Agency). Together, just these two items add up to 350.2 billion euros, which were spent directly or indirectly on people without a German passport in less than a decade, financed by the German taxpayer. And that doesn’t even include the billions in additional healthcare costs hidden in health insurance premiums. Nor does it include the massive extra spending on security measures and private security, which is ultimately passed on to consumers through higher prices. And so it goes on — layer upon layer of hidden costs that quietly drain the public without ever appearing in the official budgets. Numbers, data, facts...ach du scheisse! #### On the 3rd of October: 👉🏽Signal: We are alarmed by reports that Germany is on the verge of a catastrophic about-face, reversing its longstanding and principled opposition to the EU’s Chat Control proposal, which, if passed, could spell the end of the right to privacy in Europe. https://signal.org/blog/pdfs/germany-chat-control.pdf Patrick Hansen: "Drawing on its own history, Germany has always been a champion for privacy. It needs to hold the line on the EU's chat control proposal. Mandating mass scanning of every message, photo, and video on a person’s device is a privacy nightmare and a bad idea." 👉🏽At the moment, we have: 1. Rate cuts into 2.9%+ Core PCE inflation for the first time in 30 years 2. Rapidly deteriorating US labor market outlook 3. Deficit spending is running at over $2 trillion per year 4. Jobs reports suspended due to government shutdown 5. Two more Fed rate cuts in 2025 into stagflation 6. $100B+ per quarter in AI CapEx by the Mag 7 Own assets or be left behind. #### On the 4th of October: 👉🏽The problem with millionaires leaving the UK is not only lost tax revenue, but also countless jobs that disappear with them as well. But hey, why don’t you introduce a wealth tax and see what happens then? ![image](https://cdn.azzamo.net/090aed477bc177a8eda9c4e49bf08447183dfc828e3ac5e8201202b2912d5af3.webp) Here's the 2025 net millionaire migration adjusted per capita (per million people), based on Henley & Partners data and population estimates: UAE: +864 Switzerland: +335 Singapore: +273 Portugal: +134 Greece: +121 Saudi Arabia: +69 Italy: +61 Australia: +37 Canada: +25 United States: +22 India: -2 Germany: -5 China: -6 Brazil: -6 Russia: -10 Spain: -10 France: -12 Israel: -37 South Korea: -46 United Kingdom: -237 👉🏽'Foreign holdings of US equities have risen to a record $20 trillion. This marks a +$2.5 trillion rise over the last few months. Investors from overseas now own ~30% of the ~$60 trillion US equity market, the most in data going back to 1945. Additionally, foreign investors’ allocation to US equities as a percentage of US financial assets hit a record 61%. This is now ~7 percentage points above the 2000 Dot-Com Bubble high. To put this into perspective, the all-time low was 20% in 1974, and the 2008 Financial Crisis low was 25%. Foreign investors are all-in on US stocks.' - TKL ![image](https://cdn.azzamo.net/15e2ae0283bb6e957d8f1d99233644f45bdd7319d3bad358849214d3ddf8e4dc.webp) #### On the 4th of October: 👉🏽Sanae Takaichi becomes Prime Minister of Japan! A strong conservative woman just crushed the woke establishment. The Left is in shambles. This is the way. 👉🏽TKL: "We need more electricity: AI data centers are set to consume 1,600 terawatt-hours of power demand by 2035, equal to 4.4% of global electricity. In other words, power demand from AI data centers is set to QUADRUPLE over the next 10 years. If counted as a country, AI data centers would rank 4th in electricity use, behind only China, the US, and India. In major US markets, data center power demand is growing faster than that of electric vehicles, hydrogen, and other emerging technologies. AI growth will soon be limited by energy." ![image](https://cdn.azzamo.net/295fc5454ed6dd2c6176940c394c80472dcac259183c6c43183e448dec0bc1c5.webp) Now in Europe, Von der Leyen is screaming her lungs out: "AI first". Who will tell her that AI will not really work without an ample energy supply and access to big data? Neither of them exists in Europe. Thanks to left green energy policies and overregulation. And on top of that, my question is: So no more GDPR or the IA Act? Nuclear for everybody? Europe will play absolutely no role in the AI race. Fuck I hate politicians like Von der Leyen. #### On the 5th of October: 👉🏽'US layoffs are running at RECESSION levels: US-based employers have announced 946,426 job cuts year-to-date, the most since the 2020 CRISIS. This is the second-largest total since the Great Financial Crisis. Over the last 36 years, only 4 years have seen higher layoffs. US job market is in a dismal place.' - Global Markets Investor ![image](https://cdn.azzamo.net/a54865f18a54b1bc872a8fd3dc5df6702108ff065c835c3c819ed8e641254d6d.webp) ## 🎁If you have made it this far, I would like to give you a little gift: ##### **Alex Gladstein: Why Bitcoin is Freedom Money:** "Proud to share my essay in the Journal of Democracy on Bitcoin’s growing adoption as a powerful and undeniable tool in the global struggle for human rights. In October, print + digital editions. It will be widely read by political scientists. Send to normie friends. Onwards!" Why Bitcoin is Freedom Money,” by the Human Rights Foundation, written by Alex Gladstein, is a powerful look at how Bitcoin is quietly reshaping the fight for human rights and financial freedom across the globe. From Nigerian activists to Afghan educators and Cuban citizens defying economic isolation, this read highlights the practical, real-world stories of people using Bitcoin as a lifeline when traditional systems fail them. It captures why Bitcoin matters to the unbanked, to human rights defenders, and to everyone who values freedom. Bitcoin isn’t just about price. It’s about sovereignty. Bitcoin Is About Freedom! https://muse.jhu.edu/article/970346 On that page, you can download the essay. Audio available for those who want to listen: https://fountain.fm/episode/FShIXhjoRR8Q8CoJ5knq Credit: I have used multiple sources! My savings account: Bitcoin The tool I recommend for setting up a Bitcoin savings plan: PocketBitcoin, especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. > Use the code SE3997 Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple. ⠀ ⠀⠀⠀ Do you think this post is helpful to you? If so, please share it and support my work with a zap. ▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃ ⭐ Many thanks⭐ Felipe - Bitcoin Friday! ▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

The Latest Bitcoin & Macro Weekly Recap: 15.09.2025

## 🧠Quote(s) of the week: JEFF BOOTH: "When you really understand Bitcoin, you’re constantly a buyer. There’s never a price that’s too high." NICK SZABO: "Bitcoin can operate seamlessly globally. You can send money from El Salvador to Ukraine without anyone getting in between." Photos hosted by Azzamo (https://azzamo.net/) ## 🧡Bitcoin news🧡 ![image](https://cdn.azzamo.net/1915531327cc0f16a92ca3644dd959be98e7fe1f2614f7c0c17466861442cc98.webp) ##### On the 8th of September: ➡️Although this article is from January 2025: 'Nobel Laureate Eugene Fama Predicts Bitcoin Will Become Worthless' Just a great reminder that even Nobel Prize-winning economists can be wrong. 'Bitcoin needs to fail, otherwise I have to face the reality that my theories are wrong.' Dr. Jan Wüstenfeld: 'One day, Fama and other economists will have to face the harsh reality: Bitcoin is already turning the economic world upside down. Most economists just don't want to see it.' Spoiler alert: economists are going to need to rethink their understanding of money and markets fundamentally ➡️Kazakhstan’s President has ordered the creation of a strategic Bitcoin reserve. Daniel Batten: "Unlike El Salvador, Pakistan, Argentina, CAR, Kazakhstan does not have an IMF loan - so this order is likely to go through unimpeded." ##### On the 9th of September: ➡️The cost of an iPhone in Bitcoin: (foto) iPhone 4S - 47.9 BTC iPhone 5 - 15.9 BTC iPhone 6 - 0.5 BTC iPhone 7 - 1 BTC iPhone 10 - 0.13 BTC iPhone 11 - 0.06 BTC iPhone 12 -0.06 BTC iPhone 13 -0.018 BTC iPhone 14 - 0.04 BTC iPhone 15 - 0.03 BTC iPhone 16 - 0.013 BTC iPhone 17 - 0.007 BTC ➡️Bitcoin Archive: 'All-time high $7.4 TRILLION now sidelined in money market funds. Dry powder waiting to flow into Bitcoin.' ➡️Cantor Fitzgerald launches a new Bitcoin and gold fund. Investors get 45% of Bitcoin upside with gold protecting principal. Crazy to think people still want to hold paper Bitcoin or gold. If you want Bitcoin, just buy it. If you want gold, buy gold. This fund adds no value for investors. ##### On the 10th of September: ➡️Jameson Lopp"The 7-day moving average estimate of the Bitcoin network's hashrate has exceeded 1 zettahash per second for the first time in history!" ![image](https://cdn.azzamo.net/792c64be9fb697e280bb801dfd1455d736000bd26e0d38124e9eebad5088e7f3.webp) ##### On the 11th of September: ➡️'The FED is signaling a possible gold revaluation as the “solution” to America’s spiraling debt crisis. They are going to send your fiat paper notes back to their true intrinsic value of ZERO soon. Stack hard assets while you still can.' - CarlBMenger Source: https://www.federalreserve.gov/econres/notes/feds-notes/official-reserve-revaluations-the-international-experience-20250801.html One tiny disclaimer! How much gold do they still have? When was the last audit in Fort Knox? If the US revalues its gold reserves upward (e.g., from $42/oz to market price ~$3500/oz), it could create a balance sheet windfall to offset debt. However, this might devalue the USD by signaling fiscal weakness, potentially leading to inflation and a weaker dollar vs. other currencies. It's speculative and, to me, not realistic, for now. But just imagine another 6102 followed by a revaluation... ##### On the 12th of September: ➡️Bitcoin and Crypto exchange Gemini raises $425 MILLION in its IPO, valuing the firm at $3.3 BILLION. Shares began trading on the Nasdaq on Friday under the ticker GEMI. ➡️On September 12, Bitcoin spot ETFs recorded a combined net inflow of $642M. Fidelity’s FBTC led with $315M, bringing its total inflows to $12.627, while BlackRock’s IBIT added $265M, reaching a cumulative $59.778B. ➡️Al Jazeera reports the cost of mining one Bitcoin in Ethiopia is only $20,000 due to abundant hydropower. Full video: https://www.youtube.com/watch?v=mqie7bWQHPk ##### On the 13th of September: ➡️Nasdaq-listed healthcare firm Prenetics holds 228 Bitcoin and is buying 1 Bitcoin per day for its treasury. ➡️$7 BILLION Bitcoin shorts to be liquidated at $120,000. ➡️CarlBMenger: "In just 12 months, institutional #Bitcoin adoption has gone parabolic. Public companies, ETFs, and funds now command 12.8% of the entire BTC supply." ![image](https://cdn.azzamo.net/b7086bb50d48da089763b5d8155441b6c5624868311d1724370b9c8b8d5bbbdc.webp) ➡️Bitcoin Archive: "Bitcoin mining difficulty just set a new high. Network stronger than ever." ![image](https://cdn.azzamo.net/ff0ce057dd9f92fb99a4198023cce8b9bf6d9f0f6557a044a77198e898e21934.webp) ➡️Bitcoin News: "Harvard economist Matthew Ferranti published a peer-reviewed study in the Journal of International Money and Finance, suggesting a 10-25% Bitcoin allocation for central bank reserves, especially for nations under sanctions, like those importing military equipment from China and Russia, which increased gold reserves from 2016 to 2021." ➡️Bitcoin price history with extrapolated power curve projections to 2034. ![image](https://cdn.azzamo.net/f0b803adfb301af80bb53a17356fe5cc86ceea2e39a3d48782174fc2d83eaee1.webp) ##### On the 14th of September: ➡️'Banking crisis in Thailand: The central bank has frozen over 3 million personal & small business accounts in a sweeping crackdown on scam-linked “mule accounts.” The dragnet has ensnared countless innocents, sparking legal outrage, panic withdrawals & retailers rejecting transfers in favor of cash. Trust in the banking system is evaporating as police & banks deploy spyware that automatically flags and freezes accounts tied to suspected scam activity. Citizens across the country are now rushing to pull their money from the system.' - Bitcoin News This should be an international story. Thank you, BoT, for the free Bitcoin marketing. Thank god for Bitcoin. ➡️Normally, I would post this in the segment below "Macro & geopolitics". Look at this chart carefully. Realize that the growing deficit is mathematically unsolvable with a declining population in labor (#1 inlay) and an increasing population in retirement (#1 outlay). This is guaranteed to break in our lifetime. Risk-free will become risk-guaranteed. ![image](https://cdn.azzamo.net/eada73d78044afab386ab587ebadf831ffa6514b9d5b26a882c523bc17019b93.webp) In the end, it is just simple math. Starting U.S. debt: $37T Current deficit: $1.97T/yr (~5.3% of debt) If that % persists, debt compounds to ~$62T in 10 yrs. Against nominal GDP growth paths: 3% GDP → 162% debt/GDP 4% GDP → 147% debt/GDP 5% GDP → 134% debt/GDP Even with solid GDP growth, the math is tilting toward higher leverage. ![image](https://cdn.azzamo.net/11f536a7da5f3c112878c13de3b3d507a9e3b2f4437ace796f7fc9a5a0ee741e.webp) Now I hear you ask why the debt compounds? Grok: "The US debt compounds because the deficit—here modeled as a fixed 5.3% of current debt—includes interest on the existing $37T plus any primary shortfall. This adds to the principal annually, so next year's deficit (and interest) is calculated on a larger base, leading to exponential growth: debt_t+1 = debt_t * (1 + r), where r is that effective rate." Unfortunately, the development is always the same: (hint & tip: read Ray Dalio's book '*The Changing World Order*' or watch his YouTube video "*How the economic machine works*": https://www.youtube.com/watch?v=PHe0bXAIuk0) income inequality widens, fiat evaporates, then the game will be reset through revolution (civil or world war). For now, the government has three options: '1. Pay back debt (math says no) 2. Default (politics say no) 3. Print baby print They’ll ride #3 a lot longer than most think is possible. Most important thing is owning real (hard) assets while the rubber band keeps stretching.' - Rohan Hirani My hard asset of choice: Bitcoin ##### On the 15th of September: ➡️Monero’s blockchain hits reverse as it experienced its deepest-ever reorg today. The chain experienced an 18-block rollback that rewrote roughly 36 minutes of history and invalidated 118 confirmed transactions. Ergo: no activity, no hashrate, no blockchain, proper shitcoin. Eventually, everyone comes to BTC. ## 💸Traditional Finance / Macro: 👉🏽No news ## 🏦Banks: ##### On the 13th of September 👉🏽U.S. Banks are now sitting on $395 billion in unrealized losses as of Q2 2025. ![image](https://cdn.azzamo.net/bec4be5a3f456c96076e68ac36464be5b0814045c045c57afe40cf0a90a4a025.webp) This is ~6 TIMES higher than at the peak of the 2008 Financial Crisis. This also marks the 13th consecutive quarter of losses as interest rates remained elevated. Meanwhile, the number of banks on the FDIC Problem Bank List reached 59 in Q2 2025, or 1.3% of the aggregate. Unrealized losses at banks continue to pose a significant risk. Or is it? Full context: These are paper losses; paper losses remain off income statements unless banks are forced to sell the assets. The chart from FDIC data shows unrealized gains/losses on U.S. banks' investment securities from 2006-2025, split by Held-to-Maturity (HTM, blue) and Available-for-Sale (AFS, brown). It indicates mounting unrealized losses, peaking near -$700B recently, mainly due to rising interest rates devaluing fixed-rate bonds. For HTM securities, these are paper losses; banks plan to hold them to maturity and recover par value, unless sold early. AFS losses affect equity via other comprehensive income. This highlights potential liquidity risks if banks need to sell assets. Latest FDIC Q2 2025 reports $395B total unrealized losses, down from prior peaks. ## 🌎Macro/Geopolitics: This Banksy, which appeared overnight on the side of the Royal Courts of Justice building in London, is extremely powerful. ![image](https://cdn.azzamo.net/8c6bbd962614fe16b5f1145784ed9b3799ff75d8a2d34786be13c8f4a7ef95ec.webp) Well, 1 hour after the new Banksy was revealed, mocking the courts for censoring people, the courts censored it by covering it up... Proving his point. Classic! A day later, the Banksy artwork that depicted a judge attacking a protester and silencing free speech that was covered up has now been removed... Proving Banksy was right. You may or may not agree with his message, but it was a double-edged sword. ![image](https://cdn.azzamo.net/bffbcb4fd481238c813f82fc43a167645bde7f9dff80101401160c224ae39a8c.webp) To be honest, I think this is a more powerful image than it was before! ##### On the 8th of September: 👉🏽 TKL: "AI is all that matters right now: “AI” was cited on 287 earnings calls conducted by S&P 500 companies in Q2 2025, an all-time high. This figure has QUADRUPLED over the last 3 years. It has also surpassed the previous record of 247 set in Q4 2024. By comparison, the 5-year average is 124 and the 10-year average is 79. By sector, Information Technology led with 65 earnings call mentions in Q2, representing 98% of its total calls. The AI revolution is in full swing." ![image](https://cdn.azzamo.net/c4572474aaed5a6ffaf8b46e7917297d3dad19f667872d4c88c2adbb7afe095c.webp) 👉🏽France sinks deeper into political crisis: fourth prime minister in two years steps down. Now that Bayrou has lost the confidence vote, he must submit his resignation to President Emmanuel Macron. According to his entourage, he will do so tomorrow morning. “President Macron has already indicated that he will accept Bayrou’s resignation and appoint a new prime minister. It will be the seventh prime minister under Macron.” Bayrou was already the sixth prime minister under Emmanuel Macron, following Edouard Philippe, Jean Castex, Elisabeth Borne, Gabriel Attal, and Michel Barnier. Bayrou (Mouvement Démocrate) had been at the head of the government for barely 9 months. He is the second prime minister in less than a year to step down. In December, his predecessor Michel Barnier was forced out after a vote of no confidence, also over the planned budget. Barnier lasted only 3 months in office. The French national debt now amounts to €3,350 BILLION! (116% of GDP), while the Dutch national debt is only 43% of GDP. Because Mark Rutte turned the Netherlands into the colonial cash cow of Paris, Macron was able to borrow himself into oblivion. But the Netherlands is on the hook as guarantor. France is a case study in self-destruction: a 35-hour workweek, 36 vacation days, retirement at 62, a public debt of ~120% of GDP, a deficit of 6%, runaway healthcare costs, and suffocating dismissal rules. This is not a social model — this is financial suicide. ![image](https://cdn.azzamo.net/74fb987fbad218b0568d4b11f0bd4aa0f90048627d491636a9f4c8cab346b89d.webp) Just imagine: Eurobonds. Then we (the Netherlands) will be financially tied to this idiocy for generations to come. The CDA of Bontenbal, and everything to the left of it, is open to it. Oh, one more thing on this topic... Michael A. Arouet: "The first Euro crisis started in Greece, it was about €200B debt, it was manageable. The second Euro crisis will start in France, and it will be about Trillions. The ECB will need to print colorful Euros again and monetize French debt. Inflation is debt default in slow motion." French 10-year bond yields are higher than Italy's for the first time in the history of the euro area. Putaaaaiiinnn!! France is in demographic denial. More on this topic: https://www.reuters.com/business/finance/squeezed-french-millennials-blame-boomers-backlash-over-soaring-deficit-2025-09-05/ https://www.politico.eu/article/france-francois-bayrou-waking-up-boomer-pension-timebomb/ 👉🏽Explosive report: EU Commission paid €600,000 to media network that campaigned against EU-critical parties: According to a report by Berliner Zeitung, the European Commission transferred over €600,000 to the controversial OCCRP media network shortly after the 2024 EU elections. Among the outlets linked to OCCRP are major names like Der Spiegel, Die Zeit, and Süddeutsche Zeitung — the very same media that, in the run-up to the elections, published critical coverage targeting EU-skeptical and patriotic parties. Critics argue this raises serious questions about transparency, media independence, and the misuse of taxpayer money for political purposes. Source: https://www.dagelijksestandaard.nl/europese-unie/schandaal-eu-betaalde-na-verkiezingen-600000-euro-aan-media-die-eu-kritische-partijen-zwartmaakten?twit=519 We have a network corruption, not left or right, a network corruption. 👉🏽'For the First Time in History, the U.S. Is Spending More on Debt Interest than Defense. And we're just getting started. It might make sense to get some #Bitcoin, just in case.' - CarlBMenger ##### On the 9th of September: 👉🏽The Netherlands: “Inflation ‘falls’ to 2.8% in August" Statistics Netherlands (CBS) 🤡 But let’s be clear: prices are still rising — just a bit less fast. "After years of high inflation, purchasing power keeps melting away like snow in the sun.” 📊 Facts: Statistics Netherlands (CBS) often reports inflation month-on-month or year-on-year. So if the inflation rate is slightly lower than the previous month (e.g., 2.9% → 2.8%), this is technically called a “decline.” But in practice, 2.8% still means that prices are on average 2.8% higher than a year earlier. On top of that come all the previous years of price increases. 💡 This is why many people feel that the phrase “inflation is falling” is misleading — because prices themselves are not falling, they’re just rising a little less quickly. ##### On the 10th of September: 👉🏽Michael A. Arrouet: "This summarizes the impact of demographics on European pension systems really well. And if you try to save for retirement, your friendly left government will punish you with capital gains tax and inflation. Get ready for the old days, poverty folks." Welcome to gerontocracy. The old and often unelected will vote to eat the young and wealthy every single time. 👉🏽Ursula von der Leyen: "We are on the brink, if not even at the start, of another global health crisis," EU announces a new global health resilience initiative to combat "disinformation." The EU is planning another censorship strategy to stop “disinformation”. It will be used to silence anyone who disagrees with them. Especially political parties. How on earth does the European Commission know this? Do they have a crystal ball? Or are they time travelers? How do they already know we're on the brink of a new global health crisis? Something doesn’t add up... In the same speech, she also stated without hesitation that the EU would subsidize the press in Europe. He who pays the piper calls the tune… Goodbye, independent press. ##### On the 11th of September: 👉🏽TKL: "Global broad money supply rose +9.3% YoY in July, to a record $140 trillion. This metric covers 169 countries and territories, representing 99% of global GDP. Since the beginning of the year, the money supply in US Dollars has jumped by +$10 trillion. World money supply has risen by a MASSIVE +$40 trillion since the 2020 pandemic. This represents a compounded annual growth rate (CAGR) of +7.0%. Global liquidity is surging." 👉🏽 ECB President Lagarde calls on European governments, "to rapidly establish the legislative framework for the potential introduction of our digital euro." Digital Euro = CBDC. No one wants to be controlled by a SPY coin. May I remind you: Christine Lagarde, former IMF chief, convicted over payout. Why should anyone take advice from a convicted criminal? Source: https://www.bbc.com/news/world-europe-38369822 Digital IDs, digital currencies, and AI digital mass surveillance. This is the beast system. Bitcoin cannot be stopped! Study Bitcoin! 👉🏽“We should invest in small, affordable vehicles. We will propose to work with the industry on a new Small Affordable Cars initiative. The future of cars - and the cars of the future - must be made in Europe.” — President von der Leyen at SOTEU 2025. Like the USSR, the EU will start production of a LADA. And who are we? This is Communism. We don't want that. And the hypocrisy, why? ![image](https://cdn.azzamo.net/8b855eb96f0354e45924d264877995be3baeca36eebdaf15aaa9c1f4c8cabf53.webp) ##### On the 12th of September: 👉🏽Shadow of Ezra: 'President Trump has announced that George Soros and his entire network will be investigated under RICO charges. He claims Soros is behind the funding, training, and radicalization of young people, fueling terror and extremism.' 👉🏽'In January 1980, gold reached $850 per ounce – equivalent to $3,590 in today’s dollars – during one of the most turbulent periods in U.S. economic history, marked by a collapsing currency, runaway inflation, and recession. Today, with gold trading around $3,650 per ounce, it has surpassed that milestone and is up 39% year to date. With rate cuts on the horizon and inflation showing little sign of slowing, the bull market for gold and other hard assets appears far from over.' - Porter Stansberry ![image](https://cdn.azzamo.net/969ed5b538e63bd372ed650e562bc5c56b7c51fc9c0ed6b989e6aba6056b7c2a.webp) My hard asset of choice: Bitcoin ##### On the 13th of September: 👉🏽The European Commission wants the Netherlands to pay 50% more in annual contributions, rising from €10 billion to €15.5 billion. Because of the Green Deal, the EU has pushed through extremely burdensome and senseless regulations for citizens and businesses. The EU economy is now the weakest globally. ![image](https://cdn.azzamo.net/0dcecec5af7b0fd1eb4238b5fdcaee4d4075062ecad5d3c7d63f68b0db9425db.webp) We’re already paying roughly ten billion euros a year to that disastrous EU, and if the unelected gnomes in Brussels get their way, it’ll soon be a hefty fifteen billion euros a year. That’s a 50% increase in our contribution. And for what? More bureaucracy and less sovereignty? Source: https://t.co/LfDBCHRCD2 👉🏽France and Britain are in the same pensioner-driven boat. ![image](https://cdn.azzamo.net/ae9cdf8550dba5899d9e563c247a0dc1f4fad708ac6359ee314751e57b7017b6.webp) Insane and completely unsustainable. "French pensioners now have higher incomes than working-age adults". Pensioners in France get so much welfare that they have higher incomes than people who work. Just completely unsustainable. The Boomer Question is the fiscal issue of our time. It’s not sustainable for young people to pay into an entitlement system so older folks can live a better life than they can ever expect. Velina Tchakarova: "It’s over for the French and European welfare system. That’s purely unsustainable in the long run. Politicians might not want to admit it publicly, but reality will hit very hard in the upcoming years." ![image](https://cdn.azzamo.net/74fb987fbad218b0568d4b11f0bd4aa0f90048627d491636a9f4c8cab346b89d.webp) 👉🏽TKL: "Shocking stat of the day: The bottom 50% of US households now hold just 2.5% of total US wealth. History says rate cuts with stocks at record highs will lead to even more record highs 12 months from now. Asset owners will party, and the wealth gap will widen. Especially as Core CPI inflation is back above 3%." ![image](https://cdn.azzamo.net/1112c307a9396d38ef793d6644703b7904a342af161a6ff3fd21b4e26978e028.webp) QE infinity with a striking quote on this topic: 'The Middle Class is now officially just a bunch of serfs. They have no wealth. Stocks going up does not help them because they don’t own any.' For full context, though, in the full sample of this data (since 1989), the share of wealth held by the bottom half peaked at 4% in 1992, bottomed at 0.4% in 2011 (home equity wiped out post-GFC), and is now *up to* 2.5%. - Lyn Alden ![image](https://cdn.azzamo.net/09c2a385aa6824f80ad8f067d3f3eeac743f6629453209d168fad53acd972f29.webp) 👉🏽Geiger Capital: "In August, the US Government collected $344 billion. Just one problem… They spent $689 billion. A $345 BILLION deficit. In one month." ![image](https://cdn.azzamo.net/eada73d78044afab386ab587ebadf831ffa6514b9d5b26a882c523bc17019b93.webp) The United States' finances are broken beyond repair. Nothing stops this train. The Sovereign Individual: How to survive and thrive during the collapse of the welfare state? Draw your own conclusions, but I prefer to keep my money in assets that appreciate with inflation. My life raft is Bitcoin, what about yours? 👉🏽'The head of the German army is calling for more than doubling its forces in response to a perceived threat from Russia. The Army Chief said Berlin must be ready to fight a war with Moscow by 2029. Reuters reports viewing confidential German documents that show Army Chief Alfons Mais wants to add 100,000 new troops to the military. The increase in armed men will more than double the size of the German Army.' - ZeroHedge Source: https://www.zerohedge.com/military/germany-add-more-100k-troops-army-preparation-war-russia ##### On the 15th of September: 👉🏽U Commission now admits that the COVID mRNA injections were released for use in humans without "complete" safety data. The EU Commission acknowledged that the first COVID-19 vaccines were granted conditional approval in 2020 without complete safety and efficacy data. Officials argued this was necessary in the pandemic, but critics say it turned millions of Europeans into “test subjects.” Austrian MEP Gerald Hauser pressed Brussels on who bears responsibility for potential vaccine injuries and why citizens weren’t fully informed. Meanwhile in the U.S., Health Secretary Robert F. Kennedy Jr. has overhauled vaccine policy, pulling recommendations for healthy children and pregnant women and demanding stricter approval standards. Source: Die Welt The unelected EU Commissioner is lying again. Pfizer's safety data was appalling, not incomplete, yet they went ahead anyway. She knew the manufacturing process for the crap they pushed into you was completely untested. She is a deeply distrustful woman. But hey, it is all about the benjamins, right? ![image](https://cdn.azzamo.net/7aae3440fe00578f4635257920dbc94dc4ddbc77fd08c725486227e591bc336f.webp) ## 🎁If you have made it this far, I would like to give you a little gift: For those who haven't gotten a chance to read Broken Money, remember that we have a 30-minute animated video of it as well: https://youtu.be/jk_HWmmwiAs Credit: I have used multiple sources! My savings account: Bitcoin The tool I recommend for setting up a Bitcoin savings plan: PocketBitcoin especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Use the code SE3997 Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple. ⠀ ⠀ ⠀⠀ ⠀ ⠀⠀⠀ Do you think this post is helpful to you? If so, please share it and support my work with a zap. ▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃ ⭐ Many thanks⭐ Felipe - Bitcoin Friday! ▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

The Latest Bitcoin & Macro news: Weekly Recap 15.07.2024

# 🧠Quote(s) of the week: 'If you want to keep the smoke and mirrors, endless war machine charade going... buy US Treasuries and other government bonds. If you want to help defund the clown world... buy Bitcoin. Few understand that it's really this simple.' - Dr. Jeff Ross 'Bitcoin won’t be adopted like the iPhone because it’s cool. Bitcoin will be adopted like gunpowder: if you don’t own it, you’ll be its victim.' - Saifedean ## 🧡Bitcoin news🧡 Now before I start with the Weekly Recap I want to share the following quote & picture: 'The fight between left and right is just a smoke screen to keep you confused and busy fighting each other and not the system. The real fight is Tyranny vs Freedom. Central banking vs Bitcoin. We need to work on the vertical axis not the horizontal.' - CarlBMenger ![](https://image.nostr.build/07ba06839a2a9ddbde190e352f5a66c34aa026266c35cbf70f5256a1ef3622ba.jpg) Maybe in that light and with a heavy heart, I need to tell you guys that from the 31st of October you need to verify (full KYC) yourself to use the Relai app. [](https://relai.app/blog/verify-yourself-relai/) Personally, it was nice to have used Relai as an On-Ramp Bitcoin service for a while. Still think it is one of the best Bitcoin apps in the world. Fortunately, there are still other services that have greater privacy and confidentiality protections. For example Bisq, Robosats. For now, I am not sure what will happen with Pocket Bitcoin & Peach Bitcoin, both Swiss companies. My advice. Get your corn from Relai before the 31st of October if you don't want to go full KYC. I'm certainly not using a Bitcoin wallet that needs KYC. Goes against anything a self-custody wallet stands for. Mayor setback, I feel sorry for Relai, but unfortunately this is part of the game. It is just the harsh reality as from next year, with MiCA, everyone will have to comply. 'Do not go gentle into that good night, Old age should burn and rave at the close of day; Rage, rage against the dying of the light...' Glad we have light...and it shines bright...Bitcoin! 8th of July: ➡️The 2024 Republican Party Platform is insanely bullish on Bitcoin and crypto: - Right to self custody - Right to mine Bitcoin - Right to transact freely - No CBDCs - End harmful regulations The Republican Party Platform now includes the following language: "We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control." Tens of millions of Americans who hold crypto or believe in Bitcoin must now choose between their overall politics and their Bitcoin bags, or crypto livelihoods. Let the games begin! Bitcoin + 2024 GOP = Hello game theory! 9th of July: ➡️German Government is now left with 22,800 Bitcoin, less than half its original holdings. They are running out of BTC to sell. And that's a good thing. Buyers are gobbling up Germany’s weak-handedness. A day later on the 10th. German government transfers 5,103 Bitcoin to Kraken, Coinbase, an unknown address, and other exchanges. They now hold 18,860 BTC. Eventually, on the 12th of July, the German Government was out of Bitcoin. They send 3846.05 BTC ($223.81M) to Flow Traders and 139Po (likely institutional deposit/OTC service). By that the German Government has 0 BTC ($0.00M) remaining. To give you some context: Germany sold 42,000 BTC in one week, 250 BTC per hour, 168 hours, in one fucking week! Approximately as fast as they were mined in the first epoch, which is 16x the current rate of issuance. Germany selling all their Bitcoin will go down as one of the most retarded things their politicians ever did. It will be just as great a decision as the one where they closed all their nuclear power plants to start importing energy from nuclear power plants in France. In a few years, this will be looked back on as one of the biggest geopolitical blunders of all time. Mark my words it will be studied in universities. ![BTC/EUR](https://image.nostr.build/c47b1534f90471f7a96f7b074c2f0639bd5ead617f205ed8dad437e34285f9a2.jpg) 'So let me get this straight. First Germany sells its scarce Bitcoin for euros that they can simply print, now Germans are holding 2.8 trillion euros in bank accounts* that don't even earn interest.' -CarlBMenger (https://x.com/Schuldensuehner/status/1810962887889834027) ➡️'Australia approved a second Bitcoin ETF. It starts trading on Friday.' -Bitcoin Archive ➡️While being a whole coiner (1BTC) is an important goal for many, for some it might also be helpful to see other milestones like 0.1 and 0.5. The following chart and explanation can help you to get that. No matter if you believe in the 'Power Law' of Bitcoin, I love the breakdown of acquiring BTC today. Take that from the following statement & chart. 'The maximum Bitcoin you will ever own. Assumptions: - You only perform DCA with a fixed amount per month in perpetuity. - Bitcoin price follows (i.e. mean reverts to) a power law with exponent 5.7 In this case, there is a theoretical maximum amount of Bitcoin you will ever own (since the sum of bitcoins bought every month forms a convergent series). If you start today (July 2024), the formula for calculating this is a*0.0006631, where a is the dollar amount you invest per month. Below is the figure showing the same for different values of the amount invested and starting time. Based on this model, if you want to reach 1 bitcoin, starting today, you will need to invest a minimum of 1500$ per month. In 2026, this number becomes 2300$. By 2033, even 10,000$ invested per month will never get you to 1 Bitcoin. So, starting early is always better (not financial advice).' ![DCA is important](https://image.nostr.build/99cab8193582f928b3a6d0a245b2f4cab714042b159124c009edbc94fd9e720a.jpg) Remember only 0.26% of the global population can be a Bitcoin whole coiner. Ever! ➡️Suriname Presidential candidate and fellow Noderunner Maya Parbhoe says people in the country are "isolated" due to the lack of banking. "We don’t have a lot of infrastructure, so we might as well use Bitcoin". Maya Parbhoe is running for President of Suriname on a pro-Bitcoin platform. The trailblazing businesswoman wants to get the Surinamese people out of “survival mode” and take on the corruption that plagues her country, some of which has impacted her on the most personal level: [Read the full article here](https://bitcoinmagazine.com/politics/meet-maya-parbhoe-the-pro-bitcoin-presidential-candidate-who-wants-to-save-suriname) 10th of July: ➡️'BlackRock's Bitcoin ETF has had $18 BILLION inflows since launching in January. Only 1 day of outflows, which was just $37m.' -Bitcoin Archive ➡️"We believe we are halfway through the current Bitcoin bull market. And just because we're halfway there doesn't mean we're halfway through price growth because, at the end of a bull market, prices tend to go parabolic," says ARK Invest CEO Cathie Wood. 12th of July: ➡️'New All-Time High Bitcoin mining now uses 56.2% sustainable energy. At the current rate of increase, it will cross 60% by July 2025, and be 80% sustainable by end of 2030' - Daniel Batten 'Bitcoin mining is using more and more sustainable energy and will continue to do so. Not because Bitcoin miners are eco-conscious treehuggers, but for an even more powerful reason - economic incentive.' ➡️U.K. Bank refuses to accept funds converted from Bitcoin to buy a house. ➡️Worldcoin misses its 2023 goal of one billion users by 994 million. Worldcoin is at 0.6% of its goal. I’m stunned that the all-seeing orb hasn’t taken over the world by now. I mean how could it not have?! 13th of July: ➡️'Exactly 1 year today, Ripple "won" their lawsuit against the SEC. The XRP/BTC ratio has been down 73% ever since.' -Pledditor Just don't do shitcoins guys. ➡️'HFSP German Government” inscribed on the $1.87 Bitcoin transaction sent by a pleb to the German government wallet.' - Bitcoin News What a legend, that's a proper way to use inscription! HFSP = Have Fun Staying Poor And yes poor in Bitcoin terms, they still have the €1.3 billion. 15th of July: ➡️LARRY FINK (CEO BlackRock): I studied Bitcoin and am now a major believer it is a legitimate financial instrument with uncorrelated returns. Full clip here: [link](https://x.com/MDBitcoin/status/1812866600019567102) Eric Balchunas: 'Hard to overstate how big a deal it is for Larry Fink, who runs $10.6T, to keep giving these full-throated endorsements of bitcoin as a legit asset class for everyday portfolios. Buy-in from BlackRock - as well as other legacy firms like Fidelity - gives boomer advisors comfort and cover to make the allocation. That's why betting against, or minimizing the clear-to-anyone-with-eyes-and-a-brain early success of, these ETFs has been and will be dumb IMO.' Larry Fink is just another person on his Bitcoin journey. Step 1: Skeptic (2017: Bitcoin is an index of money laundering.) Step 2: Put in the work Step 3: Realized he was wrong (2023: Bitcoin could revolutionize finance. Files for a Bitcoin ETF.) Step 4: Bitcoin is an uncorrelated asset used to hedge currency debasement (Bitcoin is a legitimate financial instrument. Launches Bitcoin ETF.) Next step: Bitcoin is hope. What can you learn from this all? Study Bitcoin! Why? 'Your models can't account for the world's largest manager going on national TV & saying: 👉🏽Bitcoin is a hedge against debasement 👉🏽Bitcoin is a legit financial instrument 👉🏽Bitcoin is a flight to safety 👉🏽I was wrong about Bitcoin 👉🏽Bitcoin is digital gold' - Luke Mikic ## 💸Traditional Finance / Macro: 👉🏽Billionaire Warren Buffet says he could end the United States deficit problem in five minutes. "You just pass a law that says any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election." I agree with this! It could end the deficit problem, corruption, and other problems. But we all know this won't happen. And because of that, we have Bitcoin. ## 🏦Banks: 👉🏽 No news ## 🌎Macro/Geopolitics: On the 8th of June: 👉🏽41% of jobs added since 2019 were by the government burning taxpayer dollars. Now ask Greece how well it works to prop up your labor force by just hiring everyone into government jobs. This is why I always try to explain that reported job numbers from macro data are pretty useless. It's a mess. You don't believe me...well go figure: 'Jobs report numbers have been revised DOWN in 4 out of 5 months of 2024. The largest revision from 353,000 to 256,000, or by 97,000 took place in January. Subsequently, February saw a -39,000 downward adjustment. April and May were revised down by 67,000 and 54,000, respectively, or a total of 111,000 jobs. In the first 5 months of 2024, non-farm payrolls have been revised down by a combined 240,000 jobs. Is the initial headline number even worth following anymore?' -TKL 👉🏽Real estate's rising valuation reflects the debasement of fiat currency. CAGR M2 Money Supply (1971-2024): 6.8% CAGR Housing in the US: 5.7% CAGR Commercial US Real Estate: 4.4% Denying the connection between the money supply expansion and real estate values is denying reality. Yet, many still choose to ignore this fact.' -Leon Wankum The EU is on the same path as the US with M2 supply & real estate. Bitcoin will suck the monetary premiums out of real estate. That is actually a good thing because houses will be priced by their utility values. Ergo: It makes them far more affordable for average buyers. On the 9th of July: 👉🏽'With 5 Million fewer workers in Germany in just a few years who is supposed to pay for pensions and healthcare for all the new retirees?' -Michael A. Arouet ![5Million fewer workers](https://image.nostr.build/d39e6ed991a3b55a05a0c1ce8df3358d47f5f59da9ada0614421a9df22df3839.jpg) Not only Germany, but the EU in general...low growth and a social service deficit, demographic crisis, second highest tax rate, and so on. Now combine the above with the fact that, and I say this in the utmost polite way, Europe is becoming an open-air museum due to overregulation and lack of innovation. Recipe for disaster. Don't believe me... ![](https://image.nostr.build/c98f6293f7254728b9b1e02aa1a6eeda1ae0c8c0ba66be746f736be7004a2fdf.jpg) Maybe we can still turn this around by printing more money. Nope, the ECB balance sheet as % of GDP is much higher than the Fed. Maybe we can still turn this around if we would increase taxes and more regulations. The Dutch are planning to implement a 36% yearly tax on unrealized capital gains from 2027, and the new French government plans up to 90% income tax. 90% tax on any annual income above €400,000. Capital will leave the country so quickly that the leftist government can't even look. (I am in no favor of the right...left..couldn't care less) but for fuck sake NINETY f* percent. The future of Europe is bright (not)... America makes software. Asia makes hardware. Europe makes it difficult. Those who can, do it. Those who can't, regulate. Europe ![](https://image.nostr.build/06e0bd38b26512f12ae7661170d71afac080915cdaef240d9f9796770376a6b5.jpg) 👉🏽Shocking tweet by Alex Gladstein @gladstein: 'Truly insane Debt Trap chart. Pakistan's interest payments are 57% (!) of its government revenue this year. To try to pay it off, the government is looking to increase total tax revenue by 40%/ I am sure the public will be happy with that...' Click here for the chart: https://www.ft.com/content/1b88fff6-bebb-4650-9677-7a7caa268f05 'IMF staff have reached a Staff-Level Agreement with Pakistan on a 37-month Extended Fund Facility of about US$7 billion to maintain economic stability and enhance conditions for stronger, more inclusive, and resilient growth.' -IMF Let me translate the above IMF statement and I will use Alex Gladstein's tweet: “Extended Fund Facility” = Debt Trap “7 billion” = $10 billion+ including P+I “Economic stability” = Starving the poor “More resilient growth” = Devaluation Combine the above with a staggering 43% loss in purchasing power against the dollar, pushing all the prices higher and higher. Seems like a recipe for a disaster. And it's not only in Pakistan but also for example in Keyna: https://archive.ph/UiLxq IMF we know your handwriting...anyway the money is broken, study Bitcoin. On the 11th of July: 👉🏽US Spent A Record $140 Billion On Debt Interest In June, 30% Of All Tax Revenues. Now read that statement again. They are paying the debt with your money (taxes). Please read the article. [Link here](https://www.zerohedge.com/markets/us-spent-record-140-billion-just-debt-interest-june-30-all-tax-revenues) Ergo: It’s like Tetris and we’re getting into the faster levels of the game where clearing the lines is just getting harder and harder. And that was just one month! 'Annualized interest payments on US federal debt just reached an all-time high of $1.14 trillion. This is more than DOUBLE the amount of interest recorded in 2022 when the Fed started raising rates. To put this into perspective, even during the 2008 Financial Crisis, annual interest costs were ~$450 billion, or 60% lower. As a % of GDP, net interest cost this year is on track to exceed the 1980s high of 3.2%. By comparison, during World War II, net interest expense as a % of GDP was much lower, at 1.8%.' -TKL Spending $1M a day would take 2,740 years to reach $1T. The US debt is $35T and grows by $1T every 100 days. Now read the above statement again. Study Bitcoin. 👉🏽US inflation was 3.0% in June, below expectations. Core inflation came in at 3.3%, BELOW expectations. Rate cuts are imminent. On the 12th of July: 👉🏽'Elon Musk says "The European Commission offered X an illegal secret deal: if we quietly censored speech without telling anyone, they would not fine us. The other platforms accepted that deal. X did not." - Watcher Guru Do you want to learn/know more about this topic? Please read the following post: https://x.com/PirateWires/status/1811863158816223580 On the 13th of July: 👉🏽'US bankruptcies just hit their highest level in 14 years: 346 companies have declared bankruptcy through June 2024, the most since 2010, a year after the Financial Crisis. US bankruptcies have also recorded their largest monthly increase in at least 4.5 years, with 75 new bankruptcies in June 2024. Even during the 2020 Pandemic, the highest number of filings in a given month was 74. The highest number of bankruptcies have been in Consumer discretionary companies, with a total of 55. This is further evidence of weakening consumer spending.' -TKL 👉🏽Sometimes I love Twitter: Q: "Why are energy, food, and even housing sometimes excluded from price indices for calculating “inflation”?" A: (by Luke Gromen): 'Energy is excluded from CPI "because it's volatile." Yet from 1861-1971, oil prices were remarkably steady when the USD was tied to gold. Energy only got "too volatile" when the USD's tie to gold was cut in 1971. Energy's volatility is a symptom of an inflationary system.' 👉🏽'10% of the world population hold 75% of all wealth, get 50% of all income, and account for nearly 50% of all CO2 emissions.' - World Inequality Report 2022 If you read this Weekly Recap, chances are you are part of the top 10%. ![](https://image.nostr.build/a12a644bb2d5c6c0cb9ab3ef4f45fb53a0f4a7d377f8acb7908164cab7c82b00.jpg) 🎁If you have made it this far I would like to give you a little gift: Your monthly must-read this week, Lyn Alden's July 2024 newsletter is out. The two main focuses are: -A reiteration and further detail of the fiscal dominance view (i.e. nothing stops this train). -An observation that the US economy is likely to be insensitive to rate cuts like it was for hikes. [Free Newsletter](https://www.lynalden.com/july-2024-newsletter/) Ignore here newsletter and book (Broken Money - order [here](https://amzn.to/3r4ypEj)) at your own peril. Credit: I have used multiple sources! My savings account: Bitcoin The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. (Please only use it till 31st of October - after that full KYC) Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.⠀⠀⠀⠀ Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.⠀⠀⠀⠀⠀⠀⠀⠀ Do you think this post is helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #BTC #Bitcoin #zap🧡 #plebchain #grownostr #stacksats #bitcoineducation #adoption