Greetings Bitcoiner,

Welcome to Issue #347 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:

• 🖼️ Adam Back Declares War on Bitcoin Spam

• 🏢 Corporate Bitcoin Holdings Hit Historic 1M BTC Milestone

• 🎯 S&P 500 Committee Holds MSTR's Bitcoin Future in Balance

TOGETHER WITH FIREFISH

Borrow Against Your BTC Without Selling

Tap liquidity without selling your stack.

Firefish uses on-chain multisig escrow, so neither side holds your keys.

Rates start at 6% APR, with fixed investor returns up to 15% APR.

Borrow and receive funds to your bank.

Built for Bitcoiners, available globally.

Sep 5, 2025

TODAY’S TOP STORIES

🖼️ Adam Back Declares War on Bitcoin Spam

Blockstream founder Adam Back, who many also suspect of being Satoshi Nakamoto, is calling for new protocol rules to filter out Ordinals and inscriptions, arguing that the 'JPEG industry' is spamming Bitcoin with unnecessary content and creating congestion during peak periods, shifting Bitcoin away from its core monetary purpose. He proposes economic pressure on mining pools to filter out inscriptions, suggesting wallets could redirect fees away from spam-friendly pools, though he warns that centralization risks exist with this approach. This comes as the Knots vs Bitcoin Core debate reignites community divisions over who controls Bitcoin's direction. Cryptopolitan

🏢 Corporate Bitcoin Holdings Hit Historic 1M BTC Milestone

Corporate Bitcoin holdings have officially surpassed one million BTC for the first time in history, representing approximately $111B locked away by institutions. This landmark achievement highlights a growing structural imbalance between Bitcoin supply and demand that continues to intensify. As more corporations adopt Bitcoin treasury strategies, the available supply for retail and other investors shrinks, creating unprecedented market dynamics that could drive significant price appreciation. Cointelegraph

🎯 S&P 500 Committee Holds MSTR's Bitcoin Future in Balance

Michael Saylor's Strategy meets all technical requirements for S&P 500 inclusion, boasting a $96B market cap and positive earnings. However, the secretive committee has final say and has never approved a Bitcoin treasury company before. With $52T in passive flows at stake, Friday's decision could make or break this pioneering BTC-focused stock's institutional adoption dreams with supporters calling its potential inclusion 'paradigm-shifting' for mainstream adoption. Protos

POLL #347

PREVIOUS POLL RESULTS

QUICK BITS

• French police free Swiss citizen and arrest 7 in latest kidnapping incident as 'wrench attacks' targeting Bitcoin and crypto holders surge across Europe.

• California state pension fund (CalPERS) board candidates split on Bitcoin investments despite the $500B fund holding $166M in Strategy shares.

• Dormant bitcoin wallet holding 479 BTC awakens after nearly 13 years, transferring 81.25 BTC worth $9M as value of holdings surges from $4,400 to $53M.

• Eric Trump, second son of the president and co-founder of American Bitcoin, becomes a billionaire as his stake in his firm grows in value following its IPO.

• Sora Ventures, an investment firm, launches Asia's first $1B Bitcoin treasury fund during Taipei Blockchain Week, targeting $1B in BTC purchases within six months while supporting regional treasury companies.

• El Salvador's Central Reserve Bank acquires $50M in gold for the first time since 1990, diversifying reserves alongside Bitcoin holdings.

• Nasdaq increases oversight of US-listed companies raising funds to buy Bitcoin and crypto as 154 firms announce $98B in planned raises since January, potentially delaying deals and adding uncertainty to corporate treasury strategies.

• BitMEX spent nearly $800K on US lobbying efforts before receiving a presidential pardon for Bank Secrecy Act violations.

• Riot Platforms and CleanSpark, major Bitcoin mining companies, report significant BTC production increases in August despite rising mining difficulty, with both firms expanding operational hashrates over 100% year-over-year.

• SEC Crypto Assets Task Force reviews potential quantum-proof roadmap to protect Bitcoin from future quantum computing threats.

• Survey finds Bitcoin averages 4.67/10 in trust score globally, with Nigeria leading in confidence while Japan ranks lowest among 25 countries studied.

• US Federal Reserve plans a conference featuring stablecoin business models and tokenization discussions with industry stakeholders.

REFERRAL PROGRAMME TOGETHER W/ OSHI*

REFER A FRIEND,

STACK 2000 SATS EACH, FOR FREE

1. Share your unique link: https://www.btcbreakdown.com/subscribe?ref=PLACEHOLDER&utm_source=BTCPLACEHOLDER (need to be subscribed and logged in to see your unique link)

2. New subscriber joins and optimally engages by opening ≥ 50% of issues received and making 2 unique link clicks within 15 days.

3. Boom: 2000 sats to you and them. We’ll automatically email both of you the moment it lands.

*T&Cs: One real human ↔ one inbox. Duplicate or bot sign ups = nuke & lose sats. Fraud flags void payouts. We may adjust rewards if a God candle melts charts. Max 100 referrals per individual. Questions? Hit [email protected]. Ready? Copy, paste, orange pill, stack sats. 🚀

QUICK MEDIA

• Beeyond Ideas, an educational YouTube channel, explores Bitcoin's mysterious origins, questioning whether its creator(s) might have been from the future, given the system's remarkable foresight and sophisticated design that solved complex monetary problems before they became widely recognized (Aug 31 | 25:09 min watch). 

• Julian Figueroa of Kinetic Finance argues against traditional diversification advice, explaining why he saves 100% of his unspent income in bitcoin instead of spreading investments across multiple assets, citing bitcoin's finite supply and his personal conviction after extensive research (Sep 5 | 6:53 min watch). 

• Robert Breedlove and Eric Stacks analyze XRP as a centralized cryptocurrency scam that exploits unit bias through its 100 billion supply to appear cheaper than Bitcoin, while being controlled by Ripple Labs who profits from retail investors and hinders Bitcoin adoption (Sep 5 | 25:54 min watch).

• Jeff Walton, VP of Bitcoin Strategy at Strive, speaking at Bitcoin Asia 2025, explains how Bitcoin-backed securities can transform volatile Bitcoin holdings into structured financial instruments with different risk levels, potentially attracting massive capital from traditional fixed income and real estate markets into the Bitcoin ecosystem (Sep 4 | 18:53 min watch). 

• Adam Livingston, author of 'The Great Harvest', explains how early Bitcoin adopters have become a new financial elite through recognizing digital scarcity, while ordinary Americans struggle with inflation and traditional financial systems that continue to print unlimited money (Sep 4 | 18:48 min watch). 

• Matthew Kratter of Bitcoin University explores concerns that Bitcoin Core v. 30's OP_RETURN filter changes could enable state-level attacks by forcing node operators to relay illegal content, potentially exposing them to legal risks while transforming Bitcoin from a monetary network into a general data relay system (Sep 1 | 11:55 min watch).

MEME OF THE DAY

Bitcoin Breakdown has the highest signal-to-noise ratio in its class. If you find our work useful and want to see the publication grow, consider supporting us on Geyser.

Every contribution is a sign that we’re on the right track. We know your time is valuable, and we’re here to help you make the most of it. Thank you for your support.

Thank you for reading!

If you received it from a friend and would like to subscribe, you can do so here:

Until our next transmission,

P.S. Looking to start your own newsletter? Use this link to sign up for beehiiv and get a 30-day free trial plus a 20% discount.