Greetings Bitcoiner,

Welcome to Issue #293 of Bitcoin Breakdown, where we’re bringing you your end-of-week Bitcoin Digest featuring all the need-to-know Quick Bits snippets and Quick Media.

But first, today’s Top Stories:

• 😒 IMF Blocks Pakistan's Bitcoin Mining Power Play

• 🐋 Bitcoin Whales Dump 500K Coins as Institutions Take Control

• 🐭 Lummis' Bitcoin Bill Too Timid on Tax Free Spending

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Jul 4, 2025

TODAY’S TOP STORIES

😒 IMF Blocks Pakistan's Bitcoin Mining Power Play

The International Monetary Fund has rejected Pakistan's proposal to subsidize electricity for Bitcoin mining, warning that cheap electricity rates could destabilize Pakistan's fragile energy market. Despite IMF pushback, Pakistan remains committed to its Bitcoin strategy, planning a national reserve and aiming to empower 100M unbanked citizens. The country has already allocated 2,000 megawatts for mining operations and plans to further repurpose coal plants for mining infrastructure. CoinDesk

🐋 Bitcoin Whales Dump 500K Coins as Institutions Take Control

Long-time Bitcoin whales have offloaded over 500,000 BTC worth $50B in the past year, matched almost one-for-one by institutional buyers like ETFs and corporate treasuries. Bloomberg reports that this power shift is transforming Bitcoin from a high-octane trade into a slow-burn allocation, compressing volatility to two-year lows. Institutions now control about 25% of all Bitcoin in circulation, fundamentally reshaping the market dynamics. Bloomberg

🐭 Lummis' Bitcoin Bill ‘Too Timid’ on Tax Free Spending

Senator Cynthia Lummis introduced legislation allowing Americans to spend up to $300 worth of bitcoin per transaction and $5,000 annually without capital gains taxes. While Bitcoiners appreciate the effort, many criticize the thresholds as embarrassingly low. Critics argue there should be no caps on bitcoin spending, just like with dollars. The bill emerged after Lummis' amendment to the One Big Beautiful Bill failed to get a vote in committee. Bitcoin Magazine

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QUICK BITS

• Solo Bitcoin miner with 2.3 petahash mining rig beats incredible odds to mine block 903883, earning $349K reward despite having just 0.004% daily success probability.

• Russian insurance firms Renaissance Life and BCS Life Insurance introduce Bitcoin-linked investment life policies, targeting high-net-worth individuals with capital protection and exposure to BlackRock's iShares Bitcoin Trust.

• Geyser launches $10K grant program targeting developers building Bitcoin apps with Nostr Wallet Connect, a protocol that enables non-custodial payments between wallets and applications.

• US House Republican leaders designate July 14-18 as 'Crypto Week' to fast-track three crucial crypto bills: the CLARITY Act for market structure, the GENIUS Act for stablecoins, and the Anti-CBDC Surveillance State Act.

• Tether partners with Adecoagro, a South American agro-industrial company, to explore Bitcoin mining using over 230 MW of renewable energy capacity across Brazil.

• BlackRock's iShares Bitcoin ETF (IBIT) now generates more annual fee revenue than the asset manager's flagship S&P 500 fund, reflecting surging institutional demand for Bitcoin exposure despite higher expense ratios.

• Tim Heath, billionaire Australian crypto entrepreneur and investor, bit off his attacker's finger during a failed kidnapping attempt outside his Estonian apartment, highlighting the growing trend of violent 'wrench attacks'.

• Mogo Inc, a Canadian digital wealth and lending platform, announces $50M Bitcoin treasury authorization and adopts Bitcoin as a corporate hurdle rate across its wealth, payments, and lending businesses.

• Thesis*, a Bitcoin-focused venture studio operating since 2014, acquires Lolli bitcoin rewards platform to integrate with Fold, Mezo, and tBTC ecosystem, enhancing consumer experiences through expanded rewards and streamlined payouts.

• Addentax Group, a China-based integrated service provider specializing in garment manufacturing and logistics, announces plans to acquire up to 12,000 BTC worth approximately $1.3B through newly issued shares.

• Wisconsin Department of Financial Institutions implements new Bitcoin ATM regulations including $2,000 daily transaction limits and mandatory anti-fraud measures to combat rising scams affecting consumers statewide.

• UTXO Management & Sora Ventures consortium launches takeover bid for Thai electronics retailer DV8, seeking 75% stake to replicate Metaplanet's Bitcoin treasury model in Southeast Asia.

• Koi Security exposes a massive Firefox crypto theft campaign targeting wallet users with over 40 fake browser extensions impersonating popular services like Coinbase and MetaMask.

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QUICK MEDIA

• Orange Pill App, an online platform that connects Bitcoiners, demonstrates its new voice call feature that lets Bitcoiners communicate with each other without using phone numbers (Jul 1 | 0:30 min watch).

• Jack Mallers, in an appearance on Bloomberg, says Twenty One, the newly formed Bitcoin treasury company that he's a CEO of, plans to aggressively accumulate Bitcoin once it gets listed by buying as much as they can (Jul 1 | 6:10 min watch). 

• Avi Burra, host of podcasts 'The Stories We Tell' and 'Plebchain Radio', explores philosophical and technological freedom in a short AI generated film contrasting Sartre's 'prison' with Satoshi's 'exit' (Jul 2 | 4:54 min watch).

• Ray Dalio, founder of Bridgewater Associates, warns that the US debt trajectory is unchangeable due to absolutist political pledges against necessary tax increases and benefit cuts, preventing necessary action (Jul 3 | 1:29 min watch). 

• Mark Moss, a financial educator, highlights five transformative shifts, including regulatory tailwinds, Bitcoin's integration into home loans, lending opportunities, Wall Street ETF involvement, and an accelerating S curve, positioning Bitcoin as a revolutionary asset class for financial growth (Jul 4 | 10:52 min watch). 

• Jameson Lopp, Co Founder and CSO of Casa, appearing in a short feature for Proton, provides a comprehensive five step guide for erasing your digital footprint, ranging from simple ad blockers to complete lifestyle changes, designed to protect against surveillance, data collection, and targeted attacks like swatting (Jun 26 | 10:16 min watch).

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