Greetings Bitcoiner,

Welcome to Issue #311 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:

• 🇺🇸 US Government's $24B Bitcoin Stash Confirmed Intact

• 🏠 Christie's Launches Bitcoin Real Estate Division

• 🪖 Michael Saylor Amps Up Bitcoin War Chest With $2.8 Billion Deal

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Jul 25, 2025

TODAY’S TOP STORIES

🇺🇸 US Government's $24B Bitcoin Stash Confirmed Intact

Blockchain sleuth Arkham Intelligence debunks earlier rumors that the US government sold 85% of its Bitcoin holdings, confirming it still holds 198,000 BTC worth $24B across multiple agencies including the FBI and Department of Justice. The seized assets haven't moved in four months, making America's stash larger than the UK's $7B and Bhutan's $1.3B holdings. Trump's ‘crypto working group’ report due July 30 may address strategic Bitcoin reserve funding. BeInCrypto

🏠 Christie's Launches Bitcoin Real Estate Division

Christie's International Real Estate becomes the first major US brokerage to create a dedicated Bitcoin and crypto division, complete with lawyers, analysts and Bitcoin and crypto ‘experts’. CEO Aaron Kirman launched the team after closing several big-ticket deals, including a $65M Beverly Hills property paid entirely in digital currency. The move comes as Trump's administration pushes pro-Bitcoin and crypto legislation, with recent bills supporting stablecoins and shielding the industry from aggressive regulation. The New York Times

🪖 Michael Saylor Amps Up Bitcoin War Chest With $2.8 Billion Deal

(Micro)Strategy has reportedly supersized its Series A preferred share sale from $500M to $2B, arming itself with an extra 17,160 BTC war chest as the market flirts with record highs. The 90 dollar shares yield 9%, underwritten by Morgan Stanley, Barclays, TD Securities, and Moelis. Already sitting on 607,770 BTC (about two-thirds of all public corporate holdings), the Michael Saylor-led firm dwarfs rivals like Marathon Digital, Riot Platforms, and Metaplanet, signaling that the original corporate whale is nowhere near satiated. Bloomberg

POLL #311

PREVIOUS POLL RESULTS

QUICK BITS

• Bitcoin continues to closely track global M2 supply as more liquidity means higher prices, with M2 projected to rise over the next 10 weeks.

• Institutions now hold over 10% of total Bitcoin supply, with corporate demand exceeding mining output by 10x, signaling unprecedented bullish momentum.

• Voltage predicts that the Lightning Network will capture 5% of global stablecoin transaction volume by 2028, potentially handling $9B daily.

• Tesla, an electric vehicle maker, sold 75% of its bitcoin holdings in mid-2022 during market downturn, missing out on billions in potential gains.

• Major Bitcoin ETF providers file amendments seeking in-kind bitcoin redemptions, potentially boosting institutional efficiency while retail investors remain excluded from direct bitcoin-for-shares exchanges.

• Satsuma Technology, a London-based artificial intelligence firm, raises $135M through convertible notes to fund the largest single Bitcoin treasury acquisition in the UK, positioning itself as the nation's second-largest corporate BTC holder.

• IRS agent uses controversial LIFO blockchain tracing method to link stolen funds to Tornado Cash in Roman Storm trial, but defense exposes flaws in methodology that fails to prove direct connection.

• FBI investigation reveals that crypto recovery firm Payback may have provided fraudulent evidence in Roman Storm's Tornado Cash case, raising questions about prosecutorial procedures.

• US prosecutors rest in Roman Storm’s high-profile Tornado Cash trial, paving way for defense witness ethireum dev Preston van Loon to challenge money-laundering conspiracy claims.

• Nativo Resources, a London-listed gold mining company preparing to restart operations in Peru, adopts bitcoin treasury policy to hold bitcoin alongside gold as inflation hedge.

• Long-dormant Bitcoin whale transfers 10,603 BTC worth $1.26B to new addresses after years of inactivity since December 2020.

• Another OG bitcoin wallet from 2011 moves 3,962 BTC worth over $460M after 14 years of dormancy.

• Societe Generale, the world's 19th-largest banking conglomerate with $1.7T in assets, partners with 21Shares to provide liquidity for Bitcoin ETPs in European markets.

• Golden visa programs that attract wealthy Bitcoin and crypto investors face increasing restrictions as governments worldwide reconsider citizenship-by-investment schemes due to housing costs, money laundering concerns, and economic disruption.

• Quantum Solutions, a Japanese AI company, launches Bitcoin treasury strategy targeting 3,000 BTC reserve through Hong Kong subsidiary GPT Pals Studio.

• Based Brave blocks Microsoft Recall because screenshots of your tabs are nobody’s business.

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QUICK MEDIA

• Jacob Rees-Mogg, son of The Sovereign Individual co-author, discusses why money loses value and gives an approving nod to Bitcoin at the end (Jul 22 | 8:28 min).

• Jack Mallers argues the US must print money without triggering inflation by using stablecoins backed by T-Bills and driven by Bitcoin, positioning higher BTC prices as essential for US fiscal stability (Jul 23 | 5:21 min watch).

• Lil Bubble, a music producer who makes Bitcoin-related songs, releases a new album titled 'Get Rich or Die Buyin’, with with 3 tracks released on YouTube in the past week (Jul 25). 

• Lucas ₿itman, a Bitcoin Filmmaker, releases a mini documentary arguing that current the economic system isn't true capitalism but 'fiat capitalism' - a corrupt system where central banks create money from nothing, causing inflation and wealth redistribution that benefits the politically connected while harming productive citizens, offering Bitcoin as a potential solution (Jul 21 | 20:10). 

• Stephan Livera, a Bitcoin educator and podcaster, moderates heated debate at BTC Prague 2025 between Peter Todd versus Jimmy Song and Knut Svanholm over Bitcoin's long-term security budget, with Todd arguing for potential changes to maintain network security while his opponents defend the immutable 21M coin limit as Bitcoin's core principle (Jul 22 | 43:20 min watch).

• Adam Livingston, author of 'The Great Harvest', argues that 401(k) retirement plans are 'state-approved liquidity coffins' that trap your money until age 59 while exposing you to inflation, taxation risks, and counterparty vulnerabilities, while advocating for Bitcoin self-custody as a path to true financial sovereignty instead (Jul 23 | 25:02 min watch).

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