Bitcoin Magazine

Bitcoinist.App Brings Private Mining Pools to iOS

RAS AL KHAIMAH, UAE, July 23, 2026: BFM Company Limited today introduced Bitcoinist.App, a non-custodial Bitcoin mining app and Learn-to-Mine platform released exclusively for iOS. Available from the Apple App Store, Bitcoinist.App gives people a simple way to learn how Bitcoin mining works, access real hashpower, create private Bitcoin mining pools, and receive payouts directly to a wallet they control. Onboarding uses Sign in with Apple, and users can begin from an iPhone without buying mining hardware or entering payment information.

Most people will never run a miner at home. In some regions, particularly parts of the developing world, high room temperatures can cause mining equipment to overheat, while the electricity needed to run air conditioning around the clock can make home mining prohibitively expensive. Noise and the miner’s own continuous power draw add to the barrier. In many parts of the world, people access the internet primarily through mobile data on a phone, without a practical wired connection for dedicated mining equipment. A physical miner also needs a stable network connection. Bitcoinist.App lowers those barriers with a simple iOS interface for learning about Bitcoin and directing real, remotely hosted hashpower through three modes:

• Learn and unlock. The built-in Bitcoin Academy offers a 31-lesson video curriculum that explains Bitcoin and mining in practical terms. Educational videos and optional rewarded ads can unlock free mining rental time, so users can start mining from day one without a purchase.
• Rent or connect. Paid access is offered through an in-app subscription. Users can access hashpower in 1 TH/s increments from miners hosted in UAE data centers and third-party facilities, or from capacity supplied through third-party hashpower marketplaces. Mining does not run on the iPhone. The app is a simple control layer for real hashpower, and pricing is published in the app. Support for connecting user-owned hardware, including home miners like the Bitaxe, is planned.
• Route and pool. Users can create a private mining pool, invite friends and family to combine hashpower, and compete with the global hashrate. They can also mine solo or route miners to the Ocean pool for steadier payouts.

Bitcoinist.App is strictly non-custodial. There is no internal wallet or platform balance. Users choose an external self-custody wallet for payouts; mined bitcoin is sent to that address rather than held inside the app. Bitcoinist.App does not hold user private keys or mined funds.

Bitcoinist.App provides mining infrastructure and education, not a yield product, investment scheme, or custodial wallet. An in-app subscription or ad-supported access provides mining time, not bitcoin and not a promised return. Mining outcomes depend on network difficulty, pool performance, transaction fees, and deployed hashpower. Some hosting and hashpower capacity comes from third parties, so availability and performance can vary by provider. Nothing in this release guarantees any amount of mined bitcoin.

“We designed Bitcoinist.App to orange pill the masses through mining and education,” said Fouad Jamil, Founder and CEO of Bitcoinist.App. “People can begin with a phone, learn what Bitcoin mining actually does, direct real hashpower, and receive every sat in a wallet they control. We are not mining for users and we never custody their bitcoin. We provide the infrastructure and tools; users decide where their hashpower goes.”

Bitcoinist.App is operated by BFM Company Limited, registered in RAK DAO, Ras Al Khaimah, UAE (Bitcoin Mining license No. 07010714), with mining infrastructure in UAE data centers and third-party mining facilities around the world. Additional capacity may be supplied through third-party hashpower marketplaces. Availability is subject to regional eligibility.

Download the app

Bitcoinist.App is now publicly available exclusively on iOS. Users can download the app from the Apple App Store.

About Bitcoinist.App

Bitcoinist.App is a Bitcoin-only, non-custodial mining app and education platform available exclusively on iOS. Designed for ease of use, it lets people learn about Bitcoin, unlock free mining rental time through educational videos and optional rewarded ads, or choose an in-app subscription for ongoing access to real hashpower. Users can create private mining pools with friends and family, compete with the global Bitcoin hashrate, or route miners to Ocean, while payouts go directly to self-custody. Mining does not run on the iPhone. Bitcoinist.App is operated by BFM Company Limited (RAK DAO, Ras Al Khaimah, UAE). The official website is bitcoinist.app. Follow Bitcoinist.App on X, Telegram, YouTube, Facebook, and Instagram.

Press contact

pr@bitcoinist.app

Press kit

bitcoinist.app/bitcoinist_presskit.zip

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Disclaimer: This is a sponsored press release. Readers are encouraged to perform their own due diligence before acting on any information presented in this article.

This post Bitcoinist.App Brings Private Mining Pools to iOS first appeared on Bitcoin Magazine and is written by Bitcoin Magazine.

Bitcoin Magazine

Bitcoin Slumps But These Mining Stocks Are Up Thanks to AI Deals

Bitcoin may be slumping — along with the Nasdaq in general — but one technology investment seems to be doing well: publicly-traded mining companies. 

Top U.S. Bitcoin mining companies — Hut 8, CleanSpark, and MARA — all experienced gains between 3-7% on Thursday, despite a sell-off across other assets. 

The Bitcoin price was down about 2% Thursday, trading for $64,760. Major stock indices also took a hit — including the tech heavy Nasdaq — but a handful of miners continued to rally on new deals related to high-powered computing and artificial intelligence. 

Hut 8 announced Monday that it had signed a second 15-year lease for 352 megawatts of IT capacity at its Beacon Point campus in Nueces County, Texas — doubling the site’s tenant to 704 MW of contracted capacity and fully commercializing the campus against its 1,000 MW of utility capacity.

And on Tuesday, IREN Limited signed $2.8 billion in new AI cloud contracts. Formerly a Bitcoin miner, IREN is now transitioning to mostly providing high-powered computing to power AI demand. 

Both experienced price jumps Thursday morning in New York, with Hut 8 sustaining its rally. 

AI deals 

A number of Bitcoin miners are focusing on the industry as minting the biggest cryptocurrency becomes harder and demand for AI compute surges. 

As the price Bitcoin has dipped, it has become harder for Bitcoin miners to make ends meet. 

Instead of dropping mining operations completely, a number of Bitcoin miners have instead marketed themselves as “compute” or “digital infrastructure” companies while switching between minting digital coins and providing compute for AI — depending on which is more profitable.

Top miners Terawulf, IREN, and Cipher Mining all last year signed multi-year HPC contracts with Alphabet Inc.’s Google and Microsoft.

Both the crypto mining and HPC industries require huge amounts of energy and data centers. However, running AI data centres require more expertise than Bitcoin mining.

This post Bitcoin Slumps But These Mining Stocks Are Up Thanks to AI Deals first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

BlackRock Says Crypto Can Outrun the Quantum Threat — If It Moves Fast Enough

BlackRock, the world’s biggest asset manager, has chimed in on the crypto-quantum debate — and is surprisingly optimistic.

The firm, which manages over $15 trillion in assets, said in its new report, Quantum Computing and Blockchains, that upgrading existing cryptography to quantum-resistant standards is a far easier task than actually building a functional quantum computer capable of breaking that cryptography. 

“In our view, PQ migration for cryptocurrencies is eminently addressable from a technical

standpoint, and the key challenge is one of timely coordination and implementation,” the report read. 

The crypto community has sounded the alarm about hypothetical advancements in quantum computers that could in the future be able to break Bitcoin’s cryptography. Some in the space — including Bitcoin developers — have started preparing for a post-quantum future by testing quantum-resistant signatures on live sidechains. 

Quantum computers do exist but make mistakes and a machine that can break Bitcoin’s cryptography currently does not exist. Bitcoin currently is the biggest computer network in existence. 

BlackRock has skin in the game after having debuted in 2024 spot Bitcoin and Ethereum exchange-traded funds. BlackRock’s Bitcoin fund had the most successful launch in the history of the ETF industry. 

BlackRock boss Larry Fink has also talked of Bitcoin being “digital gold” and an “international asset” and has spoken about how crypto networks can help tokenize everything. 

JUST IN: Michael Saylor announces Strategy, BlackRock, Fidelity and Coinbase are pledging $15 million to support open source Bitcoin development "for the decades ahead." pic.twitter.com/W5q60ph9n3

— Bitcoin Magazine (@BitcoinMagazine) July 23, 2026

BlackRock’s views on Bitcoin 

The report said that while solutions exist for protecting Bitcoin against quantum computers — it is technically simple to upgrade — coordination is hard given the cryptocurrency’s decentralized, consensus-driven development.

BlackRock noted that about 35% of circulating Bitcoin’s supply is potentially vulnerable to certain attack types due to exposed public keys, and 11-19% may be permanently lost regardless of migration.

Along with crypto bigwigs like Coinbase, Fidelity Digital Assets, and Block, BlackRock on Thursday announced a new Bitcoin Security Consortium aimed at donating funds to engineers to help their open-source work supporting proposals like BIP-360.

The asset manager added in the report that while BIP-360 is a credible, well-designed piece of a larger puzzle, it stopped short of calling it the solution. Still, it added that Bitcoin and other crypto networks had the advantage. 

“That said, it is a much less daunting task to upgrade current cryptographic systems (including Bitcoin, Ethereum, and others) to a quantum-secure standard than it is to build a CRQC from where quantum computing progress stands today,” the report noted. 

“Thus, advantage remains decidedly with the defense, at the current juncture.”

This post BlackRock Says Crypto Can Outrun the Quantum Threat — If It Moves Fast Enough first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Coinbase Builds Post-Quantum Custody System, Funds Bitcoin’s Crypto Upgrade

Coinbase is preparing for future scenarios where quantum computers may be able to crack Bitcoin’s current cryptography.

America’s biggest crypto exchange said Thursday that while the threat isn’t imminent, hard problems — such as migrating millions of users and coordinating protocol upgrades across decentralized systems — need to be solved. 

Quantum computers are still experimental and make mistakes but some in the crypto community have sounded the alarm about hypothetical advancements in the machines that could in the future be able to break Bitcoin’s cryptography. 

“There’s a lot of noise about quantum computing right now,” Coinbase said. “Some of it is hype. Some of it is fear. And some of it is real.”

The publicly-listed company added that a large-scale quantum computer capable of breaking current cryptography will eventually be built, and so the work to prepare needs to start now, “not when it’s urgent.”

The gameplan

The exchange added that its Independent Advisory Board on Quantum Computing and Blockchain, formed earlier this year, plans to deliver a post-quantum signing pipeline using secure enclaves and threshold cryptography.

Coinbase said that currently, its key management system protects approximately 99.9% of the assets the company custodies. But within the next year, the company will deliver an automated signing pipeline that will allow quantum-safe custody as soon as blockchains begin adopting post-quantum schemes.

It added that it was bringing together Bitcoin core developers, cryptographers and researchers to discuss post-quantum migration strategy, with plans to continue these regularly.

“Preparing Bitcoin for a post-quantum world is one of the most consequential and complex challenges the protocol has ever faced,” the exchange said. 

Coinbase is also a founding member of the new Bitcoin Security Consortium — alongside BlackRock, Fidelity Digital Assets, Block, and others — which donates funds and dedicates engineers to open-source work supporting proposals like BIP-360.

The quantum “threat”

Crypto companies and protocols have been planning for a hypothetical future where quantum computers can break top cryptography ever since Google researchers last year said that improvements in the computers may allow them to be able to break the cryptography protecting major cryptocurrencies in just nine minutes.

Some in the community have called the warnings overblown, but others have already started preparing for a post-quantum future by testing quantum-resistant signatures on live sidechains. 

This post Coinbase Builds Post-Quantum Custody System, Funds Bitcoin’s Crypto Upgrade first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Kazakhstan Moves to Build a National Crypto Reserve Funded by Bitcoin Miners

Kazakhstan has laid out a plan to build a national strategic crypto reserve fed by its bitcoin miners, part of a two-step push by President Kassym-Jomart Tokayev to pull the country’s large mining industry into a regulated, state-supervised system.

A presidential decree signed July 7 sets the frame, and a government resolution approved July 18 supplies the mechanism. The government cleared the rules for strategic digital mining under Government Resolution No. 638, published in the PRG.kz legal database.

Together the two measures aim to route mining output and crypto trading through Kazakh infrastructure, with the state taking a share of mined coins for a sovereign reserve.

The reserve sits at the center. Under the July 18 resolution, the Kazakhstan government created a program of “strategic digital mining,” in which miners receive electricity quotas at capped tariffs on 10-year contracts from listed power producers. In exchange, they must hand over part of what they mine, according to local reporting.  

A formula sets the transfer at 10% of mined digital assets after the cost of electricity and grid services, paid each month to the state-linked Astana Hub fund, which passes the coins to the National Investment Corporation of the National Bank for management inside a “national strategic crypto reserve.”

The first approved power source is the Ekibastuz GRES-1 coal plant, with a 300-megawatt quota. To qualify, a miner must run a data center of at least 150 megawatts, with rigs that each clear 150 terahashes per second, among other conditions.

The resolution defines its reserve as a vehicle to invest in digital assets, in derivatives tied to those assets, and in the shares of companies that build or invest in crypto. 

Rather than hold coins alone, the structure gives the state a spread of exposure to the sector it now seeks to grow, with the National Bank’s investment arm at the controls.

The design turns Kazakhstan’s cheap power and mining base into a channel for state accumulation, an approach that echoes the reserve strategies spreading among governments. Kazakhstan had floated a $1 billion crypto reserve built in part on seized assets and state-mined coins, and its central bank moved to invest up to $350 million in crypto-linked funds. 

The United States established a strategic bitcoin reserve from forfeited coins last year, a model other states have weighed.

NEW: Kazakhstan approves "the implementation of strategic digital [asset] mining" and a national reserve pic.twitter.com/go0HT2Nhl6

— Bitcoin Magazine (@BitcoinMagazine) July 23, 2026

Kazakhstan as a bitcoin mining hub

Kazakhstan ranks among the world’s largest bitcoin mining hubs, fifth by mining activity in the Cambridge Digital Mining Industry Report from April 2025, a status built on cheap coal power that drew miners after China’s 2021 ban, though the country moved to tighten its mining rules over grid strain. 

The new program reads as an attempt to harness that base rather than curb it, and the decree directs the Kazakhstan government to tap associated petroleum gas, natural gas, and renewable output for mining.

Other crypto tasked 

The July 7 decree reaches past mining. It sets up a Committee on Digital Assets and Payment Systems under the National Bank, and orders work on tokenization platforms, exchange and custody services, and crypto-fiat channels tied to the financial system.

It calls for stablecoins to settle cross-border trade for export and import, tokenized government securities by the end of 2026, and rules that isolate customer assets from a bankrupt provider’s estate.

To pull activity onshore, the decree offers a plan to exempt individuals from personal income tax on crypto gains earned through Kazakh providers from the start of 2026 through the end of 2028, plus a window for holders to disclose coins acquired or mined in the past if they move them into regulated infrastructure. 

The government also plans a National Cryptocurrency Analysis Center by mid-2027 to track transactions and flag illicit schemes, along with a review of DeFi platforms.

This post Kazakhstan Moves to Build a National Crypto Reserve Funded by Bitcoin Miners first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

BlackRock, Coinbase, Strategy Among Nine Firms Launching the Bitcoin Security Consortium, Pledging $15 Million To BTC Security Development

Nine of the largest names in institutional Bitcoin launched the Bitcoin Security Consortium on Thursday, a group backed by $15 million in member pledges over three years to fund work on the network’s long-term security, including preparation for a future era of quantum computing.

Founding members are Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy, a lineup that spans holders, custodians, exchanges, infrastructure and payments providers, and asset managers. 

The consortium’s day-to-day work falls to Mike Schmidt, executive director of the developer non-profit Brink, who serves in a volunteer role.

Schmidt tweeted about the role, saying, “I said yes because supporting Bitcoin’s developers and helping people understand their work are the two things I’ve spent my time in Bitcoin on, through Brink and Optech. This group wants to do both: fund the people already securing Bitcoin, and bring accurate information about that work to audiences it doesn’t currently reach.”

Each member directs its own funding to the developers, researchers, and organizations it chooses; the $15 million figure is an aggregate of independent pledges rather than a pooled fund. The group also plans to serve as a reference point on Bitcoin’s security for investors, the public, and the media, and to publish material it will update as the field develops.

Funding advocates

The consortium drew clear limits around its role. It says it does not develop or direct Bitcoin’s protocol, takes no position on specific protocol changes, and does not speak for Bitcoin or its developers.

It casts itself on the model of industry groups that fund the open-source software they rely on without controlling the work. 

“Bitcoin’s development is, and will remain, the work of a global, decentralized community of contributors,” the group said.

“As long-term holders, we have every incentive to see Bitcoin remain secure for generations,” said Phong Le, Chief Executive Officer of Strategy. “Funding the people who do this work, and helping inform the conversation around it, is a natural way for us to contribute.” 

Robert Mitchnick, BlackRock’s Global Head of Digital Assets, said Bitcoin Core developers “do incredibly important work,” and that the members would make “significant additional funding available to support Bitcoin’s long-term security needs.”

Brink, the non-profit coordinating the effort, has funded open-source Bitcoin work since 2020, including more than $1 million to developers in a single year and the first third-party security audit of Bitcoin Core. Schmidt co-founded the group with developer John Newbery.

Bitcoin and quantum 

Much of the consortium’s stated focus lands on the quantum question. Large-scale quantum computers able to break BTC’s cryptography do not exist today, and credible estimates place such capability years out. 

The group frames post-quantum protection as a long-term priority the technical community already works on, and positions itself as a grounded source as that work moves.

That framing matches a wider institutional turn toward the issue. Coinbase has formed a quantum computing advisory board, Galaxy launched its own quantum readiness initiative with developer grants days before, and BlackRock has listed quantum computing as a risk in its spot BTC ETF filings. 

Developers, for their part, have proposed migration plans built on schemes such as BIP-360 that would move coins to quantum-resistant addresses, and the Bitcoin Policy Institute has warned the timeline is compressing.

Views on urgency diverge, a split the consortium’s members embody. Adam Back, founder of member firm Blockstream, has called the quantum threat decades away, while other voices place a capable machine within the next several years. 

The stakes are large either way, since Coinbase research has estimated that between 20% and 50% of BTC’s supply, much of it in older wallet formats, could face exposure to a long-range quantum attack. 

The consortium sidesteps the timeline debate and stakes its role on funding and information rather than a forecast. Its own summary holds that the risk is real, yet the network is preparing.

This post BlackRock, Coinbase, Strategy Among Nine Firms Launching the Bitcoin Security Consortium, Pledging $15 Million To BTC Security Development first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Nasdaq-listed Zhibao Technology to Take 3,500 Bitcoin in Proposed PIPE Financing

Zhibao Technology, a Shanghai-based insurance-technology firm listed on the Nasdaq, said Wednesday it has signed a non-binding term sheet for a stock sale that would be paid for in bitcoin — some 3,500 coins, worth near $220 million at current prices.

The deal, a private investment in public equity known as a PIPE, would have a buyer named Joyertech and Information OPC subscribe for Zhibao shares with consideration the company expects to include about 3,500 BTC. 

The figure remains subject to final valuation, custody arrangements, an audit, regulatory review, and definitive agreements. Zhibao stressed that the term sheet binds no one, and that the transaction may change or fall through.

The structure hints at a familiar move. Zhibao (NASDAQ: ZBAO), which pioneered a “2B2C” embedded-insurance model in China and launched the country’s first digital insurance brokerage platform in 2020, would keep running its existing business at first. 

Yet the buyer would name a majority of the board at closing, a control transition that would hand the newcomers the steering wheel while the current team minds the legacy operation until a later “separation, disposition, or other restructuring.”

$220 million in bitcoin has a new owner

In plain terms, a modest insurance-tech company would become a home for a large pile of bitcoin, with new owners in charge. Rather than raise cash and buy coins on the market, Zhibao would take the bitcoin itself as payment, a swap that seats a treasury on its balance sheet from day one. 

It is the kind of reinvention that has swept public markets over two years, as firms remake themselves around a bitcoin treasury and corporate holdings climb to records. Zhibao’s stock jumped near 24% on the news.

Behind ZBAO are employees, insurance clients, and a founding team that built something new in a crowded market, and the term sheet would fold that story into a treasury vehicle shaped by people who may value the shell as much as the business. 

For the current staff, the promise is continuity “until the separation” — words that carry their own uncertainty.

The wager holds warning signs. Analysts have called the treasury boom a bubble, and some treasury firms have started selling their coins under market pressure this year. 

This post Nasdaq-listed Zhibao Technology to Take 3,500 Bitcoin in Proposed PIPE Financing first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Crypto’s US Workforce Is Tiny, But Industry Punches Above Its Weight: Report

The crypto industry may be relatively small in terms of employers — but the economic contribution is big. 

That’s according to a new report published by the National Cryptocurrency Association and the Pragmatic Policy Group, which reveals that while only 34,000 people are employed by crypto companies, the industry will contribute $55 billion in 2026 to the U.S. economy. 

The report, “Crypto at Work”, which claims to be the first to comprehensively analyze the crypto industry’s footprint in the U.S. labor market, said that jobs in the space also average $133,000 a year — more than double the $64,000 national median wage, and ahead of average pay in tech of and manufacturing.

“Crypto creates many jobs outside the tech industry and directly supports more jobs than key manufacturing industries,” the report said. 

Using a standard input-output economic model, PPG calculated that every direct crypto job supports roughly six additional jobs elsewhere in the economy — at suppliers, and at businesses where crypto workers spend their paychecks. 

Stacking those indirect and induced jobs on top of the direct total produces a figure of 232,000 jobs in total that the industry supports. 

By raw headcount, though, crypto remains a small employer. The report itself benchmarks its 34,000 direct jobs against coffee and tea manufacturing (28,400 jobs) and tobacco manufacturing (10,600 jobs) — hardly the scale of a major American industry.

The industry’s footprint is also geographically lopsided: California, New York, and Texas account for 60% of all crypto jobs, with 57,600, 53,800, and 26,500 respectively. 

Heartland states—Iowa, Kansas, Nebraska, and the Dakotas among them — together support just over 17,000 jobs. The report singles out Colorado and North Dakota as rising hubs, pointing to Colorado’s crypto-friendly tax policy and firms like Riot Platforms and Crusoe Energy, and North Dakota’s flare-gas mining operations and a pilot stablecoin from the state-owned Bank of North Dakota.

PPG describes the study as the first comprehensive, economy-wide look at crypto’s labor market impact, built on 2024 Bureau of Economic Analysis and Bureau of Labor Statistics data. 

The firm also flagged a limitation in its own approach: because “a dedicated crypto workforce profile does not yet exist,” it modeled crypto’s financial activities using the occupational mix of broader technology industries rather than traditional finance.

NCA, which funded the research, said it hopes the findings give policymakers “an evidence-based understanding of the sector’s economic contribution.” The nonprofit launched in 2025 to promote what it describes as safe, informed cryptocurrency adoption in the U.S.

This post Crypto’s US Workforce Is Tiny, But Industry Punches Above Its Weight: Report first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Winklevoss Twins Donated $10 Million From Bitcoin Sale to Trump Super PAC

Crypto entrepreneurs Tyler and Cameron Winklevoss donated over $10 million after liquidating Bitcoin to American super PAC MAGA Inc., which supports President Donald Trump. 

A Tuesday filing shows each twin — the founders of the public crypto exchange, Gemini — donated over $5 million each. 

The donation comes about one month after the U.S. Commodity Futures Trading Commission asked a judge to vacate the agency’s $5 million penalty against Gemini.

The twins back in 2024 announced that they had donated 30.94 Bitcoin, valued at over $2 million at the time, to President Trump’s campaign, claiming it would “put an end to the Biden Administration’s war on crypto.” 

During the Biden Administration, regulators cracked down hard on crypto exchanges — including Gemini — but since President Trump took office, a number of lawsuits have been scrapped. 

MAGA Inc. has raised over $400 million in fresh cash ahead of November’s midterm elections. 

The Winklevoss twins are Bitcoin OGs

The Winklevoss Twins — who claimed they played a part in the creation of Facebook — founded crypto exchange Gemini in 2014 after being early Bitcoin backers.

Crypto industry observers have long speculated that the twins are two of the biggest Bitcoin holders in the space. 

The twins have long praised President Trump’s pro-Bitcoin and pro-business stance, claiming it’s crucial for the future of the crypto industry in the country. 

Tyler in particular emphasized the need for a political shift to prevent further harm to the industry and to restore an environment conducive to innovation and economic growth.

“President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice,” he said back in 2024. “This is not even remotely open for debate. Anyone who tells you otherwise is severely misinformed, delusional, or not telling the truth.”

Back in May, Gemini shares jumped over 20% in after-hours trading after the Winklevoss twins announced a $100 million Bitcoin-funded investment in the company alongside Q1 earnings showing 42% year-over-year revenue growth. 

The quarter’s results included a narrowed net loss of $109 million and a sharp rise in services and credit card revenue, though trading volumes had fallen from a year earlier following Bitcoin’s crash from its October peak. 

The rally followed months of turmoil for Gemini, including layoffs, executive departures, shareholder lawsuits, and a stock price that had dropped more than 89% from its IPO high, partly offset by a CFTC derivatives license granted in April.

This post Winklevoss Twins Donated $10 Million From Bitcoin Sale to Trump Super PAC first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Bitcoin ETFs Take in Nearly $1B in New Money — But What Will the Price Do?

American investors have thrown fresh cash at Bitcoin exchange-traded funds over the past six days, helping the price of the top cryptocurrency to rise again. 

Data from Farside Investors shows that close to $1 billion has been pumped into the funds since Tuesday last week. 

The price of Bitcoin was recently trading at nearly $65,860, down slightly over the past 24 hours but up 1% over a seven-day period. The leading cryptocurrency touched a weekly high yesterday of $66,891. 

Funds managed by BlackRock, Morgan Stanley, and Grayscale have taken in over $930 million in the six-day streak after weeks of lacklustre flows and sloppy price action. 

Bitcoin is currently nearly 50% below its October record of $126,080 after a massive liquidation event, war in the Middle Eastern and inflation all weighed the cryptocurrency down. 

Bitcoin upside potential?

Analysts remain wary of digital assets’ future price path as markets reckon with a re-escalation of the Trump administration’s war with Iran and inflation. 

European asset management firm CoinShares last week said that while investors are back at putting fresh cash in Bitcoin via the exchange-traded products, other factors may hold digital asset markets from going higher. 

“We have said for some time that Bitcoin has probably reached, or is close to, its floor,” James Butterfill, head of research at CoinShares, wrote. “But we see no significant upside potential from here.”

Current macroeconomic headwinds, such as the US bombing Iran and rising oil prices, could see inflation go up again. The price of Bitcoin has typically done well on news that inflation is coming down because investors expect interest rates to come down.

And another report by NYDIG last week claimed that the asset’s current slump is down to supply mechanics rather than risk sentiment. 

The report revealed that Bitcoin’s year-to-date performance makes it the worst-performing asset — losing out against US treasuries, silver, and currencies like the Swiss Franc. 

It added that if Bitcoin’s price action were to match other drawdowns — like the bear market of 2022 — a “potential cycle low near $38k-$39k” was possible.

This post Bitcoin ETFs Take in Nearly $1B in New Money — But What Will the Price Do? first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Bitcoin Maxi Jack Dorsey Unveils New Open Source Group Chat App

Tech entrepreneur Jack Dorsey has announced a new group chat platform aimed at reducing teams’ reliance on platforms like Slack, in the Bitcoin maxi’s latest push for decentralization. 

The Block co-founder wrote Tuesday on X that the new app, named Buzz, was “for teams of people and agents of all sizes” and “model-agnostic, decentralized, self-sovereign, and open source.”

Described as “A new native workspace for human and agent teams” on its website, Buzz users can “chat with teammates and specialized agents in one shared space, then move straight into planning, project management, coding, and PRs.”

A statement from parent company Block said that the new app was built on decentralized social networking Nostr protocol.

“The interface will feel familiar to anyone who’s used a modern team communication tool,” Block added. 

“Every company is going to need a place where humans and agents work together,” Bradley Axen, head of AI capabilities at Block, said. 

“The question is whether that place is proprietary or open. We built Buzz because we believe it should be open.”

Decentralize everything 

Dorsey, whose firm Block owns companies Square and Cash App, has long been pushing for decentralized solutions: primarily with Bitcoin. 

The billionaire founder of Twitter left the social media company to focus his efforts on payments and Bitcoin adoption in 2021, saying he wants the cryptocurrency to be the global currency and “everyday money.” 

He has also described Satoshi Nakamoto’s Bitcoin white paper as “poetry.”

Cash App allows users to send and receive and buy and sell Bitcoin and point-of-sale terminals Square accept the orange coin via the Lightning Network. 

Block also last year debuted a Bitcoin mining rig with swappable parts, with the idea that miners could cut costs on repairing and replacing the devices. 

This post Bitcoin Maxi Jack Dorsey Unveils New Open Source Group Chat App first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Coinbase Wants To Be Canada’s ‘Everything Exchange’ — With Crypto, Stocks, and Prediction Markets

Crypto giant Coinbase is making its “everything exchange” push in Canada. 

Eric Richmond, country director and CEO of Coinbase Canada, told BNN Bloomberg in a Tuesday interview that the move would allow Canadians to not only buy crypto but also trade tokenized stocks and put money on prediction markets. 

“Coinbase believes we have a new technology here that can really help with that, and that’s blockchain and the technology that underpins crypto today,” Richmond said in the interview. “How do we create that one place for Canadians to have their entire financial experience in one app that’s underpinned by this technology that makes things frictionless, seamless, and 24/7?”

He added: “I think people are starting to realize the fact that banks close at 4 p.m., or the markets close at 4 p.m., or that wires can take days to settle, or that access for high-net-worth individuals to certain products are gated for just those high-net-worth individuals.”

Coinbase in the U.S. allows Americans to place bets and trade stocks. The company started as a place allowing people to buy and sell Bitcoin but has since offered hundreds of digital coins. 

Richmond added that the company was working with Canadian regulators to make the launch. 

Tokenized stocks are versions of equities that trade on the technology underpinning Bitcoin: the blockchain. Proponents like Coinbase argue that by tokenizing everything, traders will be able to make transactions around the clock, 24-7. 

A number of crypto exchanges are also making the push to branch out from crypto: Kraken, for example, has also started allowing users to trade stocks and has announced plans for a prediction market platform. 

Coinbase’s big moves 

Coinbase has made some bigger moves in recent years, other than just working as a crypto exchange. 

America’s biggest bank, JPMorgan Chase, last year signed a deal with the company to allow customers to directly link their bank accounts to the platform. 

Coinbase also provides custody services — including to Wall Street giants like BlackRock — and has a contract with the US government to hold onto seized crypto.

The company also in April received conditional approval from the Office of the Comptroller of the Currency in the U.S. for a national trust banking charter, essentially paving the way for it to serve as a crypto custodian on a federal basis, managing assets for larger entities.

The company has clashed with banking executives recently over stablecoin rewards: the exchange wants its yield-bearing stablecoin products to continue, which in turn could prove to be a bigger boon in the long-run for the business.

This post Coinbase Wants To Be Canada’s ‘Everything Exchange’ — With Crypto, Stocks, and Prediction Markets first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Hyperscale Data Buys More Bitcoin, Bridging Holdings to Over $72 million

Hyperscale Data, Inc. has announced that it’s upped its Bitcoin holdings to over 1,000 digital coins. 

The New York Stock Exchange-listed company said Tuesday that it had over 1,087.4527 BTC as of Sunday — or $72.4 million based on today’s prices.

The holdings are split across the company’s wholly owned subsidiaries, Sentinum, Inc. and Ault Capital Group, Inc. (ACG). During the week ended July 19, ACG added roughly 51.5 bitcoin through open-market purchases.

The latest disclosure marks a significant acceleration in Hyperscale Data’s accumulation strategy. The AI data center company held just 627.9 BTC in late March 2026 — meaning it has nearly doubled its position, adding about 460 BTC in under four months.

The buildout is part of the company’s goal of establishing a $100 million digital asset treasury and reaching full parity between its Bitcoin holdings and market capitalization. With a market cap of roughly $63 million, that threshold has now been crossed — the company’s bitcoin alone is worth more than the company itself, before counting cash or its operating businesses.

Executive Chairman Milton “Todd” Ault III leaned into that disconnect, stating, “We now hold more than $70 million in Bitcoin.” He argued the market is assigning zero value to the company’s cash, its Michigan data center, and its portfolio of operating businesses, and said Hyperscale will keep executing while highlighting the widening gap between its market capitalization and underlying value.

At the time of writing, GPUS is trading near $0.13 a share.

Hyperscale is following the Bitcoin treasury strategy playbook

Strategy Inc. (MSTR) has become the flagship case study in the evolution of Bitcoin treasury strategies in the corporate world.

Under the leadership of Michael Saylor, Strategy shifted from a traditional software business to buying Bitcoin and allowing investors to get exposure to the asset via its shares which trade on the Nasdaq. 

This model has inspired other corporations like Hyperscale Data to add the leading cryptocurrency to their treasuries — though Hyperscale’s case is unusual in that its holdings now exceed its entire market cap, a situation more commonly seen in deeply discounted treasury plays.

This post Hyperscale Data Buys More Bitcoin, Bridging Holdings to Over $72 million first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Bitcoin Price Closes in on $67,000, Lifting Strategy and Other Crypto Stocks

Bitcoin’s price jumped Tuesday to its highest in over one month, bringing crypto stocks like Bitcoin treasury’s Strategy with it. 

The Bitcoin price was recently priced at $66,886, up nearly 3% in 24 hours. Over the past seven days, the leading cryptocurrency has risen by close to 6%. 

Its rise comes as stocks also trade higher — despite tensions in the Middle East flaring up again. 

Nasdaq-listed Strategy (MSTR), formerly MicroStrategy, also jumped above $100 per share on Tuesday. 

The price jump comes even as the Bitcoin juggernaut on Monday revealed it did not make its usual crypto buy, instead reporting the sale of a $225 million in MSTR shares, which it used for its dollar reserve. 

Strategy stock plunged with the price of Bitcoin last year, and is currently well below its November 2024 peak of $473.83. 

The software company, which started buying Bitcoin in 2020 as an inflation hedge, holds at 843,775 BTC, a position worth around $56.2 billion at current prices. 

Other Nasdaq-listed crypto stocks, including America’s biggest crypto exchange, Coinbase (COIN) and Bitcoin miner Marathon Digital (MARA), also surged on Tuesday. COIN at the time of writing was up 11% and MARA was trading over 6% higher. 

Middle East flare up 

Bitcoin’s price has taken a hit so far in 2026, and is currently down nearly 24% year-to-date. Since the leading crypto notched a new record of $126,080 in October, it has shed close to 50% of its value. 

The asset first got hit hard in October when the biggest crash in the history of the industry liquidated more than $19 billion in crypto bets. 

Then, crypto markets got hit harder after the U.S. and Israel attacked Iran in February, driving oil prices higher and deepening uncertainty around global inflation. 

Investors are now not expecting the Federal Reserve to cut interest rates anytime soon. More inflation comes less chance of interest rate cuts, which restricts the liquidity that Bitcoin needs to surge.

Iran and the U.S. continue to fight, ending a truce, but Bitcoin seems immune to the latest flare up. 

As of July 20–21, the U.S. carried out its 10th straight night of strikes on Iranian military targets, with Trump vowing retaliation for three American service members killed and the Pentagon reporting nearly 100 U.S. troops injured over two weeks. 

This post Bitcoin Price Closes in on $67,000, Lifting Strategy and Other Crypto Stocks first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Jack Mallers Steps Down as CEO of Bitcoin Treasury Twenty One Capital 

Bitcoin treasury Twenty One Capital has named Raphael Zagury as its chief executive officer, a leadership change that arrives seven months after the firm listed on the New York Stock Exchange. 

Zagury succeeds founder Jack Mallers, who is stepping down to focus on his Bitcoin payments company, Strike. 

Speaking on the transition, Mallers said, “I’m grateful to everyone at XXI and everyone who believed in what we built,” said Jack Mallers. “Serving Bitcoiners has always been the mission, and that doesn’t change. Strike is where I carry it forward.”

Austin, Texas-based Twenty One, which trades under the ticker “XXI” on the NYSE, said it would focus on becoming an institutional-grade operating company that’s judged on cash flow generation and capital allocation discipline, not just its Bitcoin holdings.

It added that it would build and acquire high-quality operating businesses that “leverage Twenty One’s balance sheet while maintaining disciplined capital allocation at the parent company and create a long-term ownership model inspired by Berkshire Hathaway.”

“My job is to build the operating company around [Twenty One], with the discipline, governance, and executional rigor of an institution,” Zagury said in a statement.  “I believe our business will perform best when we also focus on the cash flow we generate and the rigor with which we allocate capital, not only by the Bitcoin we hold.”

Mallers leaves XXI

The firm, the product of a joint effort by Tether, Bitfinex, Cantor Fitzgerald, and SoftBank, is the second biggest public Bitcoin treasury, according to Bitcointreasuries.net, with a total of 43,514 coins — or $2.8 billion in Bitcoin at today’s prices. 

It debuted last year through a SPAC merger with Cantor Equity Partners, a blank check company affiliated with financial services firm Cantor Fitzgerald.

“XXI was built by Bitcoiners, for Bitcoiners. During my role as CEO, we defined a vision for a Bitcoin-native financial enterprise. As I focus my efforts fully at Strike, I look forward to watching the next phase of growth at XXI,” Mallers said.

The companies behind it are a mix of traditional finance giants and crypto companies: Tether is the biggest issuer of stablecoins and Bitfinex is a crypto exchange. SoftBank is a Japanese multinational investment holding company and Cantor Fitzgerald is a Wall Street firm previously headed up by U.S. President Donald Trump ally and Secretary of Commerce, Howard Lutnick. 

Zagury founded and leads the team behind Elektron Energy, a large-scale Bitcoin mining and infrastructure business. 

Before that, he held roles as a managing director at Deutsche Bank and Merrill Lynch, and as a vice president at Goldman Sachs. He also co-founded OpenCo, at one point among Brazil’s largest fintech lenders. 

The change at the top comes with a shift in deal strategy. In April, Twenty One had floated a plan to consolidate the firm, Strike, and Elektron Energy into a single Bitcoin-native platform spanning financial services, mining infrastructure, capital markets, and treasury. According to Bloomberg reporting, that deal has been scrapped. Twenty One confirmed that Strike will now remain a standalone business and is out of the running for a merger.

This post Jack Mallers Steps Down as CEO of Bitcoin Treasury Twenty One Capital  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo and Micah Zimmerman.

Bitcoin Magazine

Bitcoin Miner Hut 8 Shares Jump on $9.8 Billion AI Data Center Deal

Bitcoin miner Hut 8’s shares rose Monday after the Toronto Stock Exchange- and Nasdaq-listed firm said it had signed a second 15-year lease ​worth $9.8 billion for its AI data center. 

Hut 8 shares peaked as high as $106 a pop before dropping to around $101. They closed Monday up over 10%. 

The deal will see the Toronto-based firm’s Beacon Point campus in Texas data center cover 352 ​megawatts of IT capacity. The tenant using the data center’s will have its capacity doubled to 704 MW.

Hut 8 added that the campus has a base-term contract value of $19.6 billion over 15 years, rising to as much as $50.2 billion if renewal options are exercised.

Asher Genoot, CEO of Hut 8, said: “The real test of our power-first approach is what our partners are willing to commit against it. Our tenant at Beacon Point chose to double its footprint at the site, the strongest validation an asset can receive.”

Hut 8 last year signed a deal with American Data Centers Inc., a company backed by President Donald Trump’s sons Eric and Donald Jr., to contribute its Bitcoin mining equipment and help debut their American Bitcoin mining firm. 

AI pivot

Hut 8 is one of a number of top publicly listed miners that have started directing resources to providing the infrastructure for high-powered computing.

The company in December secured a Google-backed partnership with Anthropic and Fluidstack to build up to 2.3 gigawatts of AI data center capacity in the U.S.

JUST IN: #Bitcoin mining company Hut 8 just announced it partnered with Google for financial backing on a 15-year lease.

Bullish pic.twitter.com/NQN9JmW0ob

— Bitcoin Magazine (@BitcoinMagazine) December 17, 2025

A number of Bitcoin miners have already gone all-in on the industry as minting the biggest digital coin by market cap becomes harder and demand for AI compute surges. 

As the price Bitcoin has dipped, it has become harder for Bitcoin miners to make ends meet. 

Nasdaq-listed Bitfarms last year announced that it would wind down mining operations to focus on high-performance computing.

Instead of dropping mining operations completely, a number of Bitcoin miners have instead marketed themselves as “compute” or “digital infrastructure” companies while switching between minting digital coins and providing compute for AI — depending on which is more profitable.

Top miners Terawulf, IREN, and Cipher Mining all last year signed multi-year HPC contracts with Alphabet Inc.’s Google and Microsoft.

Both the crypto mining and HPC industries require huge amounts of energy and data centers — but the move isn’t always easy: AI data centres require more expertise than Bitcoin mining.

This post Bitcoin Miner Hut 8 Shares Jump on $9.8 Billion AI Data Center Deal first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Metaplanet’s Bitcoin Japan Announces Plan to Scoop Up Coins Despite Market Downturn 

Bitcoin Japan, a subsidiary of Asia’s answer to Strategy, Metaplanet, has announced it entered into a financing agreement to start buying the leading cryptocurrency for its treasury. 

The Tokyo-based, publicly-listed company said Thursday that it had approved a convertible bond deal with EVO Fund to raise 9.66 billion yen ($59.5 million). The deal will see the company spend over 662 million yen — or over $4 million — on its first Bitcoin transaction. 

Bitcoin Japan works on Bitcoin-related media, data platforms and events to promote the understanding of the leading cryptocurrency in Japan and “contribute to the development of its ecosystem globally,” according to its website. 

Its parent company, Metaplanet, is a publicly-traded company following in the footsteps of Nasdaq-listed Strategy — formerly MicroStrategy — by buying and holding Bitcoin on its balance sheet. It first started buying the asset in 2024. 

Metaplanet is one of the biggest Bitcoin treasuries in the world, with 43,000 digital coins worth over $2.8 billion in its coffers. Its stock is currently down over 50% year-to-date. 

JUST IN: Japan Public company Bitcoin Japan Corporation has raised $60 million through convertible bonds, allocating $4.08 million to make its first buy for their BTC treasury

BULLISH pic.twitter.com/gn7hihxJ68

— Bitcoin Magazine (@BitcoinMagazine) July 17, 2026

Treasury woes 

Bitcoin Japan’s announcement comes as treasury companies see their stock slide. Last year, the business model of buying and holding Bitcoin and other digital assets with spare cash suffered with a plunge in crypto prices. 

Strategy, the biggest and oldest Bitcoin treasury, has seen its Nasdaq-listed stock nosedive by nearly 80% over the past year. 

Little known publicly traded companies in 2025 rushed to announce they were buying digital assets in a hope to boost their stock prices. The strategy worked but since the market downturn, a number of firms in the space have had to sell a portion of their holdings as the price of Bitcoin has slumped. 

But companies are still accumulating during the downturn — and firms like Bitcoin Japan are seeing the current market price of the leading asset as an opportunity to start a crypto treasury. 

Regulatory push 

While Japan has long been a hub for crypto enthusiasts — former major Bitcoin exchange Mt. Gox was based in Tokyo before a 2014 hack and its subsequent closure — lawmakers are now working on regulating the asset class. 

Japan’s parliament last week passed a law ​amendment to designate ‌cryptocurrency assets as “financial assets,” making the assets subject to ​stricter regulations, eventually paving the way for products like Bitcoin exchange-traded funds to debut in the Asian nation. 

The regulation is likely to come into effect within a year, Reuters reported, citing NHK news. 

This post Metaplanet’s Bitcoin Japan Announces Plan to Scoop Up Coins Despite Market Downturn  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Russia Moves to Rein In Crypto Fraud With New Legislation

Russia is pushing ahead with regulating the cryptocurrency market, with the State Duma considering a bill on combating fraud in the industry, according to reports. 

The bill will look at “combating the illegal use of cryptocurrencies within our country,” Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, reportedly said.

Lawmakers will vote on the bill in its second and third readings this week, according to Russia’s Tass news agency, and will also work to provide “an opportunity for those who use cryptocurrencies for international transactions to do so within the legal framework.”

Using crypto has been illegal in Russia as a form of payment since 2022 but lawmakers in the country have been open about using them for international settlements.

President Vladimir Putin has also previously spoken about mining digital assets, and admitted back in 2022 that the country had “certain competitive advantages” in the sector thanks to its surplus of energy and cold climate.  

Last year, the president signed a law allowing cryptocurrency mining in the country, allowing legal entities to mine if they have been approved by the digital ministry. Foreign operations are currently banned from doing business in the country.

Back in 2023, the Russian legislature passed a bill legalizing the use of digital currency as a way to make international payments. The bill likely has helped the country skirt international sanctions: The U.S. and European governments sanctioned Russia when it annexed Crimea in 2014, and Western nations have stepped up penalties since it invaded Ukraine in 2022.

Top Russian banks are planning to launch crypto trading services when new regulations take hold in the country. Lawmakers have said that investors will have to pass a test to start crypto investing and will be limited on the amount they can buy. 

Pro-Bitcoin Putin?

BREAKING: Russian President Putin says "Who can ban #Bitcoin? Nobody." pic.twitter.com/6mJ664BZZ8

— Bitcoin Magazine (@BitcoinMagazine) December 4, 2024

Russia has long had a complex history with regulating cryptocurrencies but Putin has previously praised Bitcoin. 

While speaking at a forum in Moscow in December 2024, the leader of Russia was talking about the dominance of the dollar and other payment methods when he highlighted that new technologies were emerging that could help people move money. 

“For example, Bitcoin, who can ban it? Nobody,” he said at the time. “And who can prohibit the use of other electronic payment instruments? Nobody, because these are new technologies.” 

This post Russia Moves to Rein In Crypto Fraud With New Legislation first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

New Onramp Report Makes the Case for Spot Bitcoin Over Paper Claims as Price Sits at Half Its Peak

A new research report from bitcoin custody firm Onramp argues that the recent market slump is a reason to buy, and that owners should hold the asset itself rather than a paper claim on its price.

The report, titled “Back to Basics” and published in July 2026, opens on a market puzzle: bitcoin trades at about half its late-2025 high, while equities and gold sit at or near records of their own. For a different asset, the report says, that divergence would read as a warning. For a fixed-supply asset with adoption at an early stage, it reads as an opening.

Onramp splits its case into three parts — the fundamentals of bitcoin, the gap between owning the asset and owning a wrapper, and the data behind its claim that the moment favors accumulation.

Bitcoin’s fixed supply

The first section runs through ten ideas. Money, the firm writes, is a technology for storing value across time, a test that cash fails over long horizons. 

Fiat currencies lose purchasing power by design, since a money supply built to expand hands the first use of new units to governments and the institutions nearest them, while it charges holders of existing balances through a weaker currency. 

Against that backdrop, the report frames scarcity as the source of monetary integrity, and it casts bitcoin’s 21 million cap as a limit that any participant can verify rather than one that rests on trust.

Other points cover bitcoin’s fixed issuance schedule, the halving, and the role of decentralization in making the rules credible. Authority rests with users who run full nodes, the report says, not with miners or firms, a structure that has held through past attempts to change the protocol’s core rules. 

It defends proof of work as a productive use of energy, with a nod to miners that consume flared gas and surplus renewable output, and it presents bitcoin as gold’s successor — scarce and durable, yet able to move across the world in minutes and to be audited by any holder.

On volatility, Onramp treats sharp drawdowns as a feature of an asset in the middle of monetization. Declines of fifty percent or more have occurred several times, the report notes, and each prior drop gave way to a recovery beyond the former peak. 

The firm favors a mechanical approach over market timing, a nod to dollar cost averaging that some view as a growing strategy and one that analysts have urged during recent dips.

‘Paper Bitcoin’

The report’s sharpest argument sits in its second part, on “paper bitcoin.” A large share of what changes hands under bitcoin’s name, Onramp writes, is not bitcoin but a claim on it — a fund share, an exchange balance, or a structured product that stands as the obligation of a counterparty.

Such wrappers can track the price, the firm allows, and many run as described under capable managers. The trouble is structural: each layer adds a custodian, an administrator, or a counterparty that the asset itself does not carry, and any of them can fail for reasons apart from bitcoin. The report ties the point to strain among bitcoin-linked credit products.

Direct ownership, by contrast, preserves what the firm calls bitcoin’s bearer quality — control of the keys as ownership in full, with no account to approve and no party able to freeze or reclaim the holding. 

That framing echoes the case that bitcoin removes counterparty risk from a balance sheet. From there, Onramp makes its commercial pitch. Owners can pursue self-custody, the firm writes, or turn to multi-institution custody, a model that splits keys across independent institutions so that no single party can move the coins and no single failure can lose them. 

Onramp has raised $12.5 million to scale that platform and has folded cash, bitcoin, and gold into one account.

Market timing

The third part turns to timing. Onramp lists four observations: a drawdown that is shallow by bitcoin’s own history, a pattern of recoveries after comparable declines, the record of steady accumulation against other assets, and the odd sight of bitcoin at a discount while most markets sit at highs. 

The present cycle stands about seven months past its peak and near half below it, the report says, an earlier and shallower stage than equivalent points in past cycles.

The conclusion returns to the title. Onramp says it is getting back to the basics this summer, and it frames the message without a forecast: buy on a schedule while prices are low, and hold what you accumulate in custody you control, spread across independent institutions.

The fundamentals, the firm writes, are unaffected by the fall in price. A lower price on an asset of fixed supply and expanding adoption, it argues, is the thesis working in the buyer’s favor.

This post New Onramp Report Makes the Case for Spot Bitcoin Over Paper Claims as Price Sits at Half Its Peak first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Sentiment Is Turning Bullish — But It’s Too Early to Celebrate: Report

The Bitcoin bottom may be in — but don’t get your hopes up: It might struggle to go up anytime soon, according to one investment firm. 

A Friday report from European asset management firm CoinShares said that investors last week threw fresh cash at Bitcoin — and other crypto — exchange-traded products, indicating a change in sentiment. 

But other factors may hold digital asset markets from going higher, James Butterfill, head of research at CoinShares, wrote. 

“We have said for some time that Bitcoin has probably reached, or is close to, its floor,” the report read. “But we see no significant upside potential from here.”

The report added that current macroeconomic headwinds, such as the US bombing Iran and rising oil prices, could see inflation go up again. 

Bitcoin’s price was up earlier this week, hitting a seven-day high of $65,501 on news that inflation in the US was softer than expected. It has since erased those gains and was recently trading for $64,010. 

The price of Bitcoin has typically done well on news that inflation is coming down because investors expect interest rates to come down. But Butterfill said that “a rate cut does not look probable at this stage.”

Bitcoin’s worst run on record

CoinShares’ data showed that investors pulled a total of $8 billion out of funds giving crypto exposure — “the worst run on record.” 

Last week, though, things reversed when $287 million hit crypto funds, CoinShares said, with the data so far showing that this week looks likely to be another positive streak.

The price of Bitcoin has typically done well when US investors — previously excluded from crypto investing — have bought shares in exchange-traded funds approved in 2024. 

The products — handled by the likes of BlackRock, Fidelity, and Grayscale — allow more traditional investors or Wall Street institutions to buy positions in Bitcoin via shares that trade on stock exchanges. 

Since BTC’s October all-time high of $126,080, crypto markets have faced a battering as those investors have fast cashed out of the funds. Bitcoin has struggled to make gains, especially after the US and Israel started bombing Iran, leading to a surge in the price of oil. 

The leading cryptocurrency is now nearly 50% below its record. 

“The dominant picture is that the current setup is prompting interest in adding positions, but caution prevails while sentiment remains broadly negative,” CoinShares added. 

This post Bitcoin Sentiment Is Turning Bullish — But It’s Too Early to Celebrate: Report first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.