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ECB Slams Bitcoin’s 'Lack Of Value' 🏛️, US Endowments Dive Into Bitcoin 🎓, BTC Flees Exchanges At Record Pace 💸

ECB Slams Bitcoin’s 'Lack Of Value' 🏛️, US Endowments Dive Into Bitcoin 🎓, BTC Flees Exchanges At Record Pace 💸

Read issue #172 of the Bitcoin-only daily newsletter with the highest signal-to-noise ratio in the industry.

Naiw Nakamoto
February 10, 2025 • Reading Time: 10 minutes

Together with

Greetings Bitcoiner,

Welcome to Issue #172 of the Bitcoin Breakdown daily newsletter, where we’re rounding up the most talked-about developments in the Bitcoin-only space from the past weekend with our Quick Bits and Quick Media sections.

But first, today’s Top Stories:

💔 ECB Threatens to Cut Ties with Banks Stacking Sats
🎓 US Endowments Hit the Books on Bitcoin
💸 Bitcoin Vanishing From Exchanges At Record Speed – Investors Show Confidence In Long-Term Value

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Feb 10, 2025

TODAY’S TOP STORIES

💔 ECB Threatens to Cut Ties with Banks Stacking Sats

The European Central Bank may reassess ties with European national banks that add BTC to their reserves, citing risk management concerns. Parroting the most basic debunked talking points, ECB board member Piero Cipollone is criticizing Bitcoin’s supposed ‘lack of intrinsic value’, calling it a speculative asset with no underlying value or earning model. He also dismisses comparisons to gold, emphasizing Bitcoin’s supposed impracticality for everyday transactions despite a recent report by Breeze highlighting the rapid global adoption of BTC payments. CryptoSlate

🎓 US Endowments Hit the Books on Bitcoin

US endowments and foundations are diving into Bitcoin as prices surge, inspired by Trump’s vision of a digital asset superpower. The University of Austin is launching a $5M Bitcoin fund, while Emory and Rockefeller is also exploring Bitcoin and crypto investments. Despite volatility, these institutions see long-term potential, with Bitcoin outperforming traditional assets over the past five years. Financial Times

💸 Bitcoin Vanishing From Exchanges At Record Speed – Investors Show Confidence In Long-Term Value

Bitcoin is leaving exchanges at unprecedented rates, signaling strong investor confidence in its long-term potential. Despite current price staying static around $96K, the rapid outflows suggest holders are opting for cold storage, reducing available supply. This bullish indicator could set the stage for future price gains, but short-term uncertainty remains as Bitcoin battles key resistance levels. Bitcoinist

POLL

What’s the ECB’s real reason for threatening banks holding Bitcoin?

QUICK BITS

Trump's rumored plan to eliminate Bitcoin capital gains tax sparks debate among IRA customers and industry leaders.
Hong Kong authorities recognize Bitcoin as valid proof of assets for investment immigration applications.
Florida Senator Joe Gruters files bill to allow state investments in Bitcoin.
17 US states now considering Bitcoin reserves as Maryland, Iowa, and Kentucky propose legislation.
BlackRock boosts stake in Michael Saylor’s Strategy to 5%, increasing Bitcoin exposure.
Michael Saylor announces that the company has acquired 7,633 BTC for ~$742.4M, increasing their total BTC holdings to 478,740 BTC.
Metaplanet sees 4,000% Stock Surge on Bitcoin-First Strategy, aims for 10,000 BTC holdings.
UK government orders Apple to create backdoor for encrypted iCloud backups, raising global privacy concerns.
Alexey Pertsev, Tornado Cash developer, granted conditional release to prepare appeal after 64-month money laundering sentence.
China Sentences Ex-Regulator to 11 Years in Bitcoin Money Laundering Case Amid Regulatory Confusion.
Industry experts discuss MiCA's first two months, highlighting challenges for smaller crypto firms, stablecoin regulations, and privacy concerns in the EU's new regulatory framework.
New stablecoin bill forces Tether to choose between US compliance and offshore operations, as regulatory oversight tightens on major stablecoin issuers.
Coinbase CEO Brian Armstrong advocates for 'blockchain-based' US Treasury (whatever that is) as Elon Musk’s DOGE saves taxpayers $36B, sparking calls for enhanced government spending transparency.
Gemini, the Winklevoss twins' crypto exchange, considers a potential IPO this year.
Newport landfill tied to lost 8,000 BTC hard drive set to close amid James Howells' recovery battle.
Firoz Patel, Canadian crypto founder, sentenced to additional 3.5 years in prison for hiding 450 BTC worth $43.5M in money laundering case.

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QUICK MEDIA

David Marcus, CEO of Lightspark CEO, declares Bitcoin 'a better version' of gold and proposes its inclusion in US strategic reserves (Feb 8 | 2:34 min watch).
David Sacks, Trump's crypto czar, reveals he's been buying Bitcoin since 2012, says Bitcoin is 'money backed by math' and could become the preferred currency over time (Feb 10 | 8:10 min watch).
Michael Saylor says that his shares will be donated to a public charity that supports Bitcoin when he's gone (Feb 7 | 0:27 min watch).
Matthew Kratter of Bitcoin University discusses how USAID funds global media narratives through outlets like BBC, influencing democracy, warfare, and Bitcoin discussions (Feb 7 | 15:08 min watch).
Saquon Barkley, NFL star with second-best odds for Super Bowl MVP, says he receives 100% of marketing earnings in BTC via Strike's app (Feb 10 | 0:53 min watch).
US Congresswoman Rashida Tlaib argues FTX collapse justifies Bitcoin and crypto regulation and debanking in 2023 (Feb 7 | 2:28 min watch).
Adam Back, co-founder and CEO of Blockstream, sees bitcoin challenging gold as a store of value, aiming for parity in adoption and market capitalization (Feb 8 | 2:36 min watch).
Pedri Oosthuizen, CTO of Swordfish Software, speaking at Adopting Bitcoin Cape Town 2025, explores how Bitcoin emerged from decades of cryptographic advancements and the philosophies of crypto-anarchists and cypherpunks, culminating in Satoshi Nakamoto’s synthesis of privacy, game theory, and trustless verification (Feb 7 | 28:59 min watch).