Bitcoin’s 21 million supply secures value by enforcing scarcity, tying money to energy, and preventing inflation or tampering.

Key Takeaways
-------------

![Center of Hash - Why Bitcoin’s 21 Million Supply is Perfect | Phil Geiger](https://www.tftc.io/content/images/2025/08/Phil-Geiger.webp)

Bitcoin’s fixed supply of 21 million coins is the foundation of its value, tying digital scarcity to real-world energy use through proof-of-work. Mining isn’t wasteful, it enforces monetary integrity by ensuring issuance, transaction finality, and decentralization. The difficulty adjustment creates a self-regulating system that always maintains profit incentives, while shrinking subsidies transition security costs to transaction fees through a competitive fee market. Attempts to introduce inflation would destroy Bitcoin’s core value proposition, as its strength lies in neutrality, permissionless participation, and unchangeable scarcity.

Best Quotes
-----------

“Wall Street thinks it’s dipping a toe into Bitcoin, but really it’s crossing the event horizon into a black hole.”

“Bitcoin is the very first form of money that is absolutely scarce with a fixed supply of 21 million. Nobody can create more Bitcoin.”

“Mining isn’t its own industry, it’s a tool for energy producers, like a demand-response battery that monetizes excess power.”

“The only external resource Bitcoin requires is electricity. Security scales linearly with value through the difficulty adjustment.”

“A good form of money has to be neutral. With Bitcoin, as long as you have energy and internet, you can participate without asking permission.”

“Block space is scarce by design. The bidding process for transactions ensures a fee market will always exist.”

“Inflation can never be a solution. The entire reason Bitcoin has value is because its supply is fixed at 21 million.”

“Centralization isn’t binary, it’s a spectrum. Bitcoin must decentralize in every way possible: users, nodes, miners, and ownership distribution.”

“If there’s ever a fork or bug, rational actors will always choose the version that preserves the fixed supply. That’s the social consensus.”

“Decades of economic theory debated what good money should be. Bitcoin makes it a market test, opt in voluntarily, and the consensus is clear.”

Conclusion
----------

The discussion reinforces that Bitcoin’s power lies in its immutability: 21 million is non-negotiable. Energy expenditure secures the network, decentralization distributes trust, and economic incentives ensure survival without inflation or external intervention. While risks like mining pool centralization exist, Bitcoin’s permissionless structure and market-driven consensus provide resilience. Ultimately, Bitcoin succeeds because it replaces trust in institutions with incorruptible rules, aligning all participants around one unshakable principle: absolute scarcity.

Timestamps
----------

0:00 - Paper Bitcoin Summer & Wall Street's Bitcoin Black Hole
3:28 - Bitcoin as Shock Therapy for Zombie Markets
5:14 - Introduction to Bitcoin's Economic Incentives
8:30 - Why Bitcoin's Energy Use Solves Money Printing
10:43 - Energy Demand from Block Processing & Coin Issuance
16:12 - Permissionless Energy Sales to Bitcoin Network
21:54 - The Always-Profitable Mining Mechanism
27:03 - Difficulty Adjustment & Self-Regulating Markets
32:29 - Bitcoin's Closed System Independence
40:27 - From Mining Subsidy to Transaction Fee Market
46:15 - Block Space Scarcity Creates Fee Competition
53:29 - Why Inflation Can Never Fix Bitcoin

Transcript
----------

(00:04) Bill Gyer. Paper Bitcoin summer. Summer of Phil. Which one is it? Well, every summer is summer of Phil. So, this summer I think is paper Bitcoin summer. Um, I'm I'm enjoying it quite a bit. I think it's a really unique time in Bitcoin, the Bitcoinification of Wall Street, if you will.
(00:29) It's not my my favorite topic in the world is the financialization all that, but it is pretty wild to me to see the explosion of paper Bitcoin summer. Yeah, I should have known. Yeah, I wrote the piece Bitcoin is the great defantization that there there would be some financialization of of Bitcoin before fiat ends and then true defancialization happens. But I wouldn't say I was wrong about that.
(00:56) That's just, you know, after Pierre wrote speculative attack in 2014, we should have we should have known that this was inevitable. And uh maybe that wasn't going to take this form, but it's also perfectly logical. So, I love it. Wall Street and all the kind of financial markets around the world, they feel or they feel like they're they're dipping their toe into Bitcoin right now, but Bitcoin is a black hole.
(01:15) And so, actually, they're kind of crossing the event horizon uh without even realizing it. So, I'm I'm a huge fan of all of these different products, but yeah, I think it is it is a a short time period where Bitcoin is going to be rapidly financializing before, you know, to your point, to your paper, things rapidly defancialize.
(01:33) Yeah. I I love that it's d drawing people in like Jim Chanos and that there's probably a bunch of people in Tradfi that are looking at it saying that ah this is all a scam and and what they don't realize is that the bottomless pit of fiat and the arbitragees in the fiat world is actually what's creating it.
(01:57) Um so you know if that capital was going to go to somewhere better to go to Bitcoin than some zombie company that was going to be extended just by the fiat system. Absolutely. And I was looking at a chart uh I think it was Crucius's chart of you know Bitcoin at uh $2 trillion as an asset class and then uh the different financial markets that are you know 100x the size of Bitcoin and somebody plotted all of the different uh Michael Sailor you know preferred stock products that he's launching and how it taps into these different markets. Uh and I think that's really fascinating. It's Yeah, it's just Wall Street, you know, getting
(02:31) sucked into the Bitcoin black hole. They think they're in charge, but, you know, we'll see. Yeah, it was it was interesting. I listened there was a podcast that Michael Sailor did where he was in person. the like I don't I didn't recognize guys who were interviewing him but when he he basically gave a 30inut explanation of how they they they basically unintentionally stumbled into this whole dynamic and that it was also and he connected the ideas of why Bitcoin's volatility was particularly attractive to these markets
(03:04) and and that um that it really wasn't a grand, you know, it wasn't an idea that he had when he started getting, you know, interested in Bitcoin and got orange spilled. It was something that they issued a convertible bond and then through that process realized that there was this whole arbitrage opportunity to suck in and tap more capital. So, totally.
(03:27) And I think what Bitcoin is doing right now to a lot of markets around the world, and I think you've spoken about it, you've written about this, a lot of markets are kind of zombie markets, right? they're they're running out of steam and that's why the money printing has to just continually happen because it's just like they can't they can't get the growth that they need and Bitcoin is like a shock to the system, right? It's like an EKG, right? If the if the patient is is flatlining and dying like as soon as you give a little Bitcoin exposure to a market, you see like rapid uh rapid adoption and and
(03:59) you know, not even adoption, but just like attention, short sellers, people going long, like all kinds of focus just goes right there to Bitcoin. I think it's really cool. Yeah. And that that's one thing that he also talks about with that the short sellers serve a purpose for him that they will then be buyers of his stock when they need him to be buyers of the stock.
(04:25) And so I think that uh and and that will be what we you know not that specifically but talking about the incentives of Bitcoin that create all that frenzy that ultimately create the demand for is what we we'll talk about today. And appreciate you coming on the show. This is episode four. The the first episode will actually be released next week.
(04:43) So by the time this one comes out people have gotten to listen to a few. But this this podcast is focused on mining and energy and all and the convergence of Bitcoin. and the money side of it. And the the first few episodes were were talking about mining in kind of a broad sense. The last episode we went deep on a specific strategy um in the mining ecosystem, specifically upstream natural gas, mining off of upstream natural gas.
(05:11) You're not a Bitcoin miner, are you? I'm not. You're not. I've I've done it just uh as a hobby just on a computer just to to try it out, see how it works. But unfortunately, I I rationalize myself out of becoming a Bitcoin miner. And maybe we can talk about that today. I did the same. Um but you're what you at least in my opinion what I would consider you as an expert in the economic incentives.
(05:35) Neither of us are economists, but we understand the economics of Bitcoin very well. And I think that one of the things that is easily lost in the Bitcoin mining sphere, particularly for people who are legacy energy professionals that see Bitcoin solving problems in the energy sphere, that those make sense.
(06:06) But then when they zoom out and then relook at Bitcoin and what is creating all of this demand for power, they then get reloc. So I think um and this won't be the only discussion on the incentives of Bitcoin, but I think uh or not, I think you had written an article back when we were still both at Unchained. I also think that you were my my first hire at Unchained potentially. Yeah. I mean I I I got the job, you know, in 2019.
(06:32) I just DM'd you on Twitter. I think I actually had heard you on either it was either what Bitcoin did or TFTC uh and just reached out to you and that rest is history. Yeah, we we were very close to hiring somebody else and the


Marty's Bent
------------

![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/08/Screenshot-2025-08-17-at-11.48.05---AM.png)

![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/08/image.png)

![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/08/martybent_a_group_of_wall_street_fund_managers_out_to_a_fancy_l_d398d7c0-f870-4a61-83c8-a82967e1f9b0.png)

Global fund managers are still woefully underweight bitcoin exposure. A recent Bank of America survey, shared and dissected by Zerohedge over the weekend, found that only 9% of managers that responded have any exposure to bitcoin, with 75% reporting that they have zero exposure to the best performing asset of the last 16 years. The weighted average of exposure across the funds that were surveyed is 0.3% of their total assets. In comparison, 48% of the same cohort has an allocation to gold with a 2.2% weighted average allocation.

Read another way: you are still very early.

For some reason, large asset managers are completely missing the monetary revolution unfolding right before their eyes. I want to point out two things with this fact in mind; despite this, the bitcoin ETFs have had the most successful launch in ETF history by breaking speed to _x_ AUM records with ease, and comping the exposure to bitcoin these managers should have to gold is a mistake.

The first point highlights the fact that much of the price movement over the past year has actually been more retail driven than many expect. This time around it's just retail investors with brokerage accounts that were waiting for the proper vehicles to get exposure. Many ETF analysts have estimated that bitcoin ETF flows have been dominated by this type of investor, with up to 75% of the flows since these ETFs launched coming from this cohort. This makes sense when you consider the fact that many wealth managers still have non-solicitation rules in place, which means they can't actively market bitcoin ETFs to their clients, they can only allocate when a client demands it.

That is changing as we speak and you can bet your ass that a flood of managers will be hitting the pavement hard to sell products that get their clients exposure to the best performing asset of all time. It basically sells itself. The flows from this marketing campaign will likely be material.

On the second point, I think it is important to not anchor to the allocations of their total portfolios that the managers surveyed by Bank of America have to gold, or the fact that it was only 48% of managers surveyed. Since bitcoin is still in its monetization phase, more risk-averse managers will likely have a lower overall allocation because it's easier to make up for a lack of exposure with outsized performance, which bitcoin can provide against gold at this point of its lifecycle. Conversely, there will be managers who like risk and want to clobber their peers with out performance, so they could allocate more than their peers would deem appropriate. Lastly, gold has been around for thousands of years and is analog bitcoin. I think it is important to recognize that bitcoin is a digital beast that comes with different and superior properties to gold that can create a lot more value on top of the network.

Smart contracts, liquid collateral, payments infrastructure, and a tight connection with the energy sector, among many other things.

It will be interesting to see when these managers actually wake up and recognize that they need to begin taking bitcoin seriously. As we said last year, for the first 15-years of bitcoin's existence the associated career risk was with being allocated to it at all. We are now firmly living in a period where that career risk has flipped. If you're not allocated you will be called an idiot. Those who move sooner will be deemed less stupid than the laggards.

### Bitcoin's Path to Gold Parity: The Next Major Milestone

Tuur Demeester presents a compelling case for Bitcoin reaching gold parity at 11 kilograms per coin. He highlights how Bitcoin has been consolidating at the 1 kilogram level for nearly five years, following a historical pattern of breaking through psychological gold ratios - first at 1 ounce, then 100 grams, and now approaching the next major milestone. This isn't just about round numbers; it represents a fundamental shift in how markets value digital scarcity versus physical assets.

> "Gold parity could be the next magnet. It doesn't mean it's gonna stick there, but at least it'll be the psychological pull for this cycle." - [Tuur Demeester](https://x.com/TuurDemeester?ref=tftc.io)

The convergence of the $1 million price target with gold parity creates a powerful narrative. As Tuur emphasizes, Bitcoin's superior properties - instant global transferability, perfect divisibility, and programmable features - position it to eventually surpass gold's $13 trillion market cap. This psychological barrier represents the market's final admission that digital monetary technology has superseded precious metals.

Check out the [full podcast here](https://youtu.be/bi9iMEetMK4?ref=tftc.io) for more on treasury companies as collateral, stagflation's impact on real estate, and Bitcoin's extended cycle dynamics.

* * *

### Headlines of the Day

Vancouver Proposes Bitcoin Miners to Heat Pool - via [X](https://x.com/TFTC21/status/1957540402598469953?ref=tftc.io)

China Merchants Bank Launches 24/7 Bitcoin Trading - via [X](https://x.com/TFTC21/status/1957517462666375526?ref=tftc.io)

WiseLink Adopts Bitcoin Treasury Strategy - via [X](https://x.com/BitcoinNewsCom/status/1957509300034670839?ref=tftc.io)

Reborn Coffee Explores Bitcoin Treasury Integration - via [X](https://x.com/TFTC21/status/1957507462980116854?ref=tftc.io)

Volkswagen Singapore Accepts Bitcoin Payments - via [X](https://x.com/TFTC21/status/1957496146504679501?ref=tftc.io)

US Treasury Secretary Praises Stablecoins - via [X](https://x.com/WatcherGuru/status/1957492114960367891?ref=tftc.io)

* * *

How to Position for the Bitcoin Boom: 2025 Edition
--------------------------------------------------

Over 10,000 investors downloaded the original report calling for $120k when bitcoin was just $27k. With that price level now achieved, Tuur is back with the 2025 edition—refreshed for the bull run with new data and insights—**including Adamant Research’s latest price outlook**.

The bull run is heating up—now is the time to take it seriously.

You’ll also get exclusive access to an HD recording of Tuur Demeester’s new 30-minute video presentation, **_Charting Our Way Through Chaos_**, breaking down why this boom might be only just beginning—and what forces could push it to the next level.

[Read the first-ever mid-cycle report from Adamant Research](https://unchnd.co/45ssBVy?ref=tftc.io)

[![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/08/D1--9-.png)](https://unchnd.co/45ssBVy?ref=tftc.io)

[Download Here](https://unchnd.co/45ssBVy?ref=tftc.io)

* * *

_Ten31, the largest bitcoin-focused investor, has deployed $200M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at_ [ten31.vc/invest](https://ten31.vc/invest?ref=tftc.io)_._

* * *

**Final thought...**

The "screw em" mentality is a good one to have.

* * *

_Download our free browser extension, **Opportunity Cost**:_ [https://www.opportunitycost.app/](https://www.opportunitycost.app/?ref=tftc.io) start thinking in SATS today.

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Chris Alfano shows how Bitcoin mining monetizes stranded gas, reduces flaring, and enables more oil production.

Key Takeaways
-------------

![Center of Hash - Bitcoin Offtake Unlocks Oil Production | Chris Alfano](https://www.tftc.io/content/images/2025/08/Chris-Alfano.jpg)

Chris Alfano, CEO of 360 Energy, explains how Bitcoin mining has become a powerful tool for oil producers to monetize stranded natural gas, reduce flaring, and unlock additional oil production. What began as a vertically integrated mining venture evolved into a services business that deploys gas-to-Bitcoin infrastructure for upstream producers. In regions like the Permian Basin, where oversupply and poor pipeline contracts push gas prices to near zero or negative, Bitcoin mining offers a far more lucrative outlet, up to $13.50 per MCF compared to $1–3 on the pipeline. For large companies, the main value lies in keeping oil flowing without violating flaring restrictions, while smaller independents may chase Bitcoin economics directly. By offering flexibility, optionality, and higher margins, mining is reframing how natural gas assets are valued in the U.S. and beyond.

Best Quotes
-----------

“We realized that Bitcoin mining isn’t just a means to an end for oil and gas, it’s the other way around.”

“Henry Hub might pay $3.50 an MCF, but mining Bitcoin at the wellhead is $13.50 an MCF.”

“If a pipeline shuts down, producers can be stranded overnight. Our systems give them optionality.”

“For a big producer, it’s not really about the Bitcoin economics. They’ll pay us rent to capture gas, because without us, they’d have to shut in a million dollars a day of oil production.”

“Bitcoin mining is solving real-world problems. You can’t put an AI data center in the middle of an oil field and power it with stranded gas.”

“Only about half a percent of U.S. gas is flared, but that alone is two gigawatts of mining capacity.”

Conclusion
----------

This episode illustrates how Bitcoin mining is becoming integral to energy markets, not as a replacement but as a solution to inefficiencies in oil and gas. By transforming waste gas into productive energy, it reduces emissions, sustains oil production, and generates higher returns than conventional sales. Alfano’s approach positions 360 Energy less as a mining company and more as an oilfield services provider using Bitcoin as a tool, showing that mining’s future lies in solving industrial problems while making Bitcoin’s network more resilient and distributed.

Timestamps
----------

00:00 - Chris Alfano's Background and 360 Energy Strategy
02:18 - From SaaS to Bitcoin Mining: The 2020 Rabbit Hole Journey
05:56 - Evolution from Self-Mining to Oil Field Services Business
08:40 - US Natural Gas Markets and Regional Opportunities
14:52 - Gas Pricing Differentials: Henry Hub vs Waha Dynamics
23:48 - Stranded Gas vs Pipeline-Connected Mining Opportunities
29:32 - Three Value Props: Environmental, Oil, and Economic
33:13 - Case Study: Unlocking Stranded Oil Wells in Texas Gulf
37:20 - Bitcoin Economics vs Liability Reduction Models
43:13 - Mining Infrastructure: Generators, Data Centers, Servers
52:26 - Managing Bitcoin and Natural Gas Price Volatility
01:00:55 - Site Evaluation: Decline Curves and Operational Complexity
01:07:17 - Explaining Bitcoin Sustainability to Energy Customers
01:17:36 - Bitcoin Mining Philosophy and Ecosystem Role
01:24:39 - Strategic Focus and Future Growth Plans

Transcript
----------

(00:05) Chris Alana, welcome to the center of hash. Parker Lewis, it's great to be here. Yeah. Um, before we get into the the topic of the day, we we co-work here out of uh Bitcoin Park. It's mid July in the Texas summer. How's the summer been? It's been hot, good, rainy.
(00:30) you know, we've uh done some family trips and stuff like that. So, tried to get out of it. We're heading to California end of this week. So, upstream mining isn't impacted by the 4CP here in Texas. No natural gas mining. No grid, no 4CP, no curtailment. SMU footballs on the horizon. Uh on the horizon and Ryzen, they say you uh you were at Happy Valley for that. I was disastrous.
(00:56) That was a uh not our best not our best effort. Cool experience though. Our expectations is high this expectations are high. Coach is uh saying big things. He's uh good to target for other schools. So got to keep him happy at SMU. But you know, good transfer giving giving Texas a run for the money as best team in Texas.
(01:19) I'll be uh very pleased if we make it to another playoff. That might not happen again in quite some time, but that's what I said last year with Will Cole when we were sitting here in the summer looking at the team. But, you know, we should be better this year than we were last year. So, very pumped. Well, uh hopefully hash price is higher and come football season in a month.
(01:38) That would be nice. Got to get the uh ordinal people back selling uh their JPEGs. That's controversial. We'll talk about that towards the end, but um we we'll use that as a segue into um the topic of the day. So, in the in in the first couple episodes, we've discussed mining at a very broad high level, and today we're going to go deep on a specific energy strategy and mining strategy.
(02:06) Um Chris is the co-founder and CEO of 360 Energy. Um, Chris, just give a little bit about your background and what 360 does and kind of what defines your strategy. Yeah. Yeah. So 360 energy right before 360 uh I went to SMU if it wasn't obvious before um studied finance and economics there and started a company 2016 with a hedge fund manager in Dallas uh called Keyman Intelligence and uh built that company for four years.
(02:45) Sold that company in 2020 and started 360 and uh what did that company do that we did uh SAS solutions for private credit hedge funds. So we would uh standardize a bunch of the reporting data from you know these these CLOs's have 300 positions in private credit. Um so a bunch of companies that aren't publicly traded don't adhere to GAP and so uh what we would do is aggregate all the data that all of those portfolio positions would report.
(03:15) So like their financials um sims credit agreements everything like that. We'd aggregate that all into uh uh our platform and we'd standardize it. Um, so customers of ours, like other hedge funds, CLOS's would have access to the platform. They'd log in, they'd be able to see all their borrowers uh be able to see kind of standard financial data uh across um their whole portfolio, right? If uh different borrowers report in different ways and even same borrowers quarter to quarter.
(03:44) So yeah, it was just a tool to make analysts more efficient at actually analyzing, kind of get them out of the monkey labor of having to spread financials and figure out where pieces of information were. So it's just kind of like a a database with standardization for uh everything to do with their portfolio positions.
(04:04) And how'd you get from there to 360? Well, sold the company. um moved down to Austin, was out of a job at that point, kind of figuring out what I wanted to do next. Co happened. So, I'm a Bitcoin class of 2020 going down the rabbit hole at that point, kind of right after the company. Um, and obviously fell in love with Bitcoin for many of the same reasons everyone else does.
(04:28) And being a finance guy, being a tech guy, uh, really made a lot of sense in my mind. So, wanted to start another company. was kind of sick of doing software stuff. Um,orked around Austin. Uh, met a great guy named Mike Hamilton. Kind of told me all about this Bitcoin mining thing. Um, sounded really cool.
(04:46) And so kind of started going down the Bitcoin mining rabbit hole. Uh, as anyone does, you try to figure out, okay, you know, I can basically plug in a Bitcoin miner anywhere, but how do I do it, you know, cheaply for a long term, uh, to kind of protect the downside, protect the margin, all that stuff.
(05:05) So, um, for us that was looking at grid, looking at solar, looking at many different, you know, potential options to power our miners. Kind of settled on natural gas as something that's very abundant in Texas and something that's relatively cheap. Uh, we wanted to take it a step further and and actually vertically integrate the natural gas into the Bitcoin mining as a way of kind of controlling that future, having, you know, decade at a single location, having complete operational control.
(05:31) And so, uh, built a team with Sean Milmo, my co-founder, and a few other guys, um, that had a lot more oil and gas background than I did to, uh, stand up 360 Energy. And at that time, uh, the the company's objective was self mining through the ownership and operation of the natural gas assets. So, we went out and bought some uh, old producing uh, gas wells in the Barnett Shale, right outside of Fort Worth, just 20 minutes north of of downtown Fort Worth. And that's really how we got our start.
(06:02) Um, so took over those wells, put our first Bitcoin mine out there in late 21. Um, and started, you know, mining, uh, at probably the worst possible time to be mining and buying infrastructure and stuff like that. And, um, but yeah, that was that was really what it was all about was, you know, how do we bind these old relatively unattractive natural gas assets to traditional oil and gas people? um and turn that into something much more profitable, much more valuable through Bitcoin mining.
(06:33) Uh two questions. What what initially So you mentioned in 2020, what made you go down the Bitcoin rabbit hole just quickly? And then second, um you started out vertically integrated owning the assets, but that's evolved a bit. Yes. Okay. Yeah. I mean, the rabbit hole was a function of time um and a function of just kind of the macroeconomic conditions in the US, right? Uh knowing enough to know uh a ton of money printing is probably not good. Um and seeing all the free money that was going out there, uh was concerning. And so,
(07:14) and also, you know, I'


Marty's Bent
------------

![The System is More Levered Than Ever](https://www.tftc.io/content/images/2025/08/image-1.png)

via [StockMarket.News](https://x.com/_Investinq/status/1958554460566806750?ref=tftc.io)

![The System is More Levered Than Ever](https://www.tftc.io/content/images/2025/08/martybent_a_well_dressed_man_driving_past_data_centers_in_the_d_31472b71-a9ee-4b2a-8705-c3c1f0f6ef40.png)

While everyone and their mother is focused on Jackson Hole in anticipation of Federal Reserve Chairman Jerome Powell's speech later this morning I want to draw your attention to the chart above. The financial system is more levered than it has ever been at the same time that the pressure on Jerome Powell and the Fed to lower interest rates and inflation is starting to rear its head again.

If I'm being honest, I'm not sure exactly how to read this. My intuition says that leverage is high because of the stealth stimulus that has been entering the market over the course of the last few years via the Treasury hammering issuance on the short end of the yield curve. Yes, in nominal terms margin debt is at an all time high, but if you look at it in real terms it is still below 2021 levels. Though, it is quickly approaching those levels.

![The System is More Levered Than Ever](https://www.tftc.io/content/images/2025/08/image-2.png)

via [StockMarket.News](https://x.com/_Investinq/status/1958554530322264345?ref=tftc.io)

The question lingering in my mind is whether or not we see a melt up in financial assets and leverage alongside with it, or will gravity come into play at some point in the short to medium-term and force a material correction? When you consider the Trump administration's focus on AI - it has been explicitly identified as a national security issue that necessitates a "win at all costs" response, coupled with the strong desire to keep the Republican majority in the House and the Senate in next year's mid-term elections, the prospect of a melt up scenario seems somewhat likely. One thing is certain, the Trump administration is certainly going to try.

When they do inevitably try, we will see if we are truly moving into new territory because all of the indicators that signal a market top are getting very red and very loud. Just take a look at cyclically-adjusted P/E ratios.

![The System is More Levered Than Ever](https://www.tftc.io/content/images/2025/08/image-3.png)

via Simon White, Bloomberg

Regardless of what ultimately happens, this is fundamentally bullish for bitcoin in the medium to long-term. If we get the melt up scenario, bitcoin will benefit massively as individuals, investors, institutions and idiots alike seek safe haven in hard assets. If gravity comes into play, bitcoin is likely to correct a bit before the dust settles. At which point, many people will be starkly reminded of the insanity of the incumbent financial and monetary systems yet again and a new wave of bitcoin adopters will enter the market. Joining the steadfast hodlers who understand what they own.

Stay vigilant out there, freaks.

### Bitcoin's Energy Consumption is Not Waste

Phil Geiger makes a compelling case on Parker Lewis's Center of Hash that Bitcoin's energy consumption serves a vital purpose - it's the first monetary system to solve the problem of money printing through absolute scarcity. As Phil explains, Bitcoin's 21 million supply cap represents humanity's first truly fixed monetary supply, making it fundamentally different from every other form of money that can be debased. This scarcity only works because it's secured by real-world energy consumption, creating an unbreakable link between the digital and physical realms.

> "Money is the most fundamental form of communication that humans have. You can use money to communicate value across different cultures without even speaking the same language." - [Phil Geiger](https://x.com/phil_geiger?lang=en&ref=tftc.io)

Phil contrasts Bitcoin with other cryptocurrencies, arguing their energy use is wasteful because they don't solve any fundamental problem. Bitcoin's energy consumption directly secures the network against manipulation and enforces the monetary policy that makes it valuable. Parker reinforces this throughout, noting how this direct use of energy for monetary security is unprecedented - unlike gold mining or Federal Reserve operations, Bitcoin creates an explicit, measurable relationship between energy and monetary integrity.

Check out the [full podcast here](https://youtu.be/bi9iMEetMK4?ref=tftc.io) for more on mining pool centralization, fee market dynamics and Bitcoin's self-regulating difficulty adjustment.

* * *

### Headlines of the Day

DOJ Won't Target Decentralized Crypto Developers - via [X](https://x.com/WatcherGuru/status/1958607763249991972?ref=tftc.io)

DOJ Demands Fed Fire Governor Lisa Cook - via [X](https://x.com/WatcherGuru/status/1958595395514237300?ref=tftc.io)

Pennsylvania Introduces Bitcoin Ownership Ban Bill - via [X](https://x.com/TFTC21/status/1958606584567013859?ref=tftc.io)

Buenos Aires Accepts Bitcoin for City Payments - via [X](https://x.com/TFTC21/status/1958571300261437924?ref=tftc.io)

Treasury Proposes Digital IDs for DeFi Transactions - via [X](https://x.com/TFTC21/status/1958563270908170411?ref=tftc.io)

* * *

### Obscura – The World’s Best VPN Built by Bitcoiners

Created by Carl Dong (former Bitcoin Core contributor), unlike other VPNs, it _can’t_ log your activity by design, delivering verifiable privacy you can trust.

[![The System is More Levered Than Ever](https://www.tftc.io/content/images/2025/08/Obsura-3.png)](https://obscura.net/?ref=tftc.io)

[USE CODE TFTC25](https://obscura.net/?ref=tftc.io)

**Outsmarts internet censorship**: works even on the most restrictive Wi-Fi networks where other VPNs fail.
**Pay with bitcoin over Lightning:** better privacy and low fees.
**No email required:** accounts are generated like bitcoin wallets.
**No trade-offs**: browse freely with fast, reliable speeds.

**Exclusive Deal for TFTC Listeners:**
Sign up at [obscura.net](https://obscura.net/?ref=tftc.io) and use code **TFTC25** for **25% off your first 12 months**.

Now available on **macOS, iOS, and WireGuard**, with more platforms coming soon — so your privacy travels with you wherever you go.

* * *

_Ten31, the largest bitcoin-focused investor, has deployed $200M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at_ [ten31.vc/invest](https://ten31.vc/invest?ref=tftc.io)_._

* * *

**Final thought...**

The hurricane swells are epic on the East Coast right now.

Enjoy your weekend, freaks.

* * *

_Download our free browser extension, **Opportunity Cost**:_ [https://www.opportunitycost.app/](https://www.opportunitycost.app/?ref=tftc.io) start thinking in SATS today.

_Get this newsletter sent to your inbox daily:_ [_https://www.tftc.io/bitcoin-brief/_](https://www.tftc.io/bitcoin-brief/)

_Subscribe to our YouTube channels and follow us on Nostr and X:_

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[![The System is More Levered Than Ever](https://www.tftc.io/content/images/2025/03/yt.png)](https://youtube.com/@TFTC?feature=shared&ref=tftc.io)

[![The System is More Levered Than Ever](https://www.tftc.io/content/images/2025/03/insta.png)](https://www.instagram.com/tftc.io/?ref=tftc.io)

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[![The System is More Levered Than Ever](https://www.tftc.io/content/images/2025/03/primall.png)](https://primal.net/tftc?ref=tftc.io)


A short note: "The boss said he'd make the voices go away. He sa...

"The boss said he'd make the voices go away. He said he'd go inside and replace 'em with bright lights...like Christmas!" https://image.nostr.build/14e07f6e7192df9e1c13f8c3fb0231a215b99d3f536ce0c9d8a856f8d4ee2bba.jpg


😅

https://image.nostr.build/4ccfee5c49a295626efb2f34dac22d0faa51e73b4ae741b524d6e75003a1b28e.jpg


A short note: Yes I will.
nostr:nevent1qqsxxmlpaq848cuvf29ycjup...

Yes I will.
nostr:nevent1qqsxxmlpaq848cuvf29ycjupdwvty9v88dxvrsmka4r5cqwk3rmmrnqpz9mhxue69uhkummnw3ezuamfdejj7q3q7f66kd7kfa47qdu6sh89wdsxpctykym2prrlreudaf3n4wkcf0lqxpqqqqqqzmrpmdz


Operation British Freedom may be a necessary military endeavor if things continue at this pace.

Marty's Bent
------------

![England Has Gone Mad](https://www.tftc.io/content/images/2025/08/martybent_a_british_police_officer_holding_his_billy_club_with__c09ed852-25f5-4801-b71c-246739dbe046-1.png)

If you're not paying attention to what is currently unfolding in England, you probably should be. The country is devolving into a complete dystopian hellscape as the government attempts to stifle speech as backlash against immigration policy, the handling of Pakistani rape gangs, inflation and an overall material decline in quality of life pushes British citizens to the edge.

Over the last couple of years the government has instituted hate speech laws that have led to British citizens being thrown in cages for speaking their minds. These efforts have escalated this Summer in the form of "Age Verification" requirements across the internet in an attempt to "save the children" from the dangers of being able to access information that is not government approved. In reality, age verification requirements aren't in place to protect the children, they're in place to identify every individual using the internet so that they can be tracked and easily brought to heel if they step out of line.

This is a gross infringement on the inalienable human right to speak your mind anonymously or pseudo-anonymously. There is no way to hold governments to account if you can't speak your mind openly and anonymously. Ideas should be able to stand on their own merit, no matter who is speaking them. Bringing ideas into a conversation anonymously is the best way to ensure that an idea stands on merit and is not accepted because of the individual that is sharing the idea. Conversely, if the idea is so good that people broadly agree with it and that idea happens to be in conflict with the narrative that authorities are spinning the only way they can stifle it and ensure that they get their way is to uncover who is behind the idea and make an example of them by throwing them in a cage. Ultimately, to send a chilling effect that prevents others from spreading the idea.

This is completely anti-human, authoritarian bullshit that should be met with vehement push back. Privacy is a human right and people should be able to anonymously hold their government to account if they so choose.

The British government is doubling down. Yesterday, England's "Children's Commissioner" (holy Orwellian naming!) joined the BBC to put forth the argument that age verification requirements should be levied on VPN providers. For those who are unaware, VPNs allow individuals to use the internet without doxxing their IP addresses to the websites and apps they visit. If you were to force VPNs to collect age verification information it would render their very valuable services moot. Any self-respecting and customer-conscious VPN provider would have to immediately reject any attempts by the UK government to force these verification requirements on them.

These age restriction requirements that the UK government is thrusting on companies is nothing more than lazy bullying tactics that turn companies into forced surveillance companies. honeypots and snitches that do nothing but harm their end users and empower a central government that has gone mad with power as it attempts to silence critics.

VPNs are critical to being able to browse the internet privately, which is an inalienable human right.

I pray that the people of England have the intestinal fortitude to fight back against these heinous encroachments on civil liberties and put their government in place.

### Supply Shock Could Drive Unprecedented Price Discovery

Tuur Demeester laid out a compelling case for why bitcoin faces an unprecedented supply squeeze. He explained how treasury companies like MicroStrategy are accumulating massive positions without any intention to sell, while long-term holders aren't moving their coins despite new all-time highs. The on-chain data he presented shows whales holding steady, with no significant distribution events exceeding 100,000 coins this cycle - a stark contrast to previous bull markets where we'd see 400,000 coin movements.

> "If you have more risk appetite, you can still stay in bitcoin. You go to the treasury companies" - [Tuur Demeester](https://x.com/TuurDemeester?ref=tftc.io)

I found his point about collateralized lending particularly fascinating. As Bitcoin becomes pristine collateral for multi-year structured credit products, these coins effectively disappear from liquid markets. Combine this with ETF flows creating persistent one-way demand and tax-advantaged strategies that discourage selling, and we're witnessing multiple forces simultaneously constraining supply. This isn't your typical four-year cycle anymore.

Check out the [full podcast here](https://youtu.be/bi9iMEetMK4?ref=tftc.io) for more on elongated cycles, gold parity targets and nation-state adoption strategies.

* * *

### Headlines of the Day

Trump Blasts Powell for Destroying Housing Market - via [X](https://x.com/WatcherGuru/status/1957936265489445276?ref=tftc.io)

SEC Chair to Implement Crypto Reforms Quickly - via [X](https://x.com/TFTC21/status/1957905605500563706?ref=tftc.io)

Harvard Economists Wrong by Six Figures - via [X](https://x.com/TFTC21/status/1957904767210119583?ref=tftc.io)

* * *

### Obscura – The World’s Best VPN Built by Bitcoiners

Created by Carl Dong (former Bitcoin Core contributor), unlike other VPNs, it _can’t_ log your activity by design, delivering verifiable privacy you can trust.

[![England Has Gone Mad](https://www.tftc.io/content/images/2025/08/Obsura-3.png)](https://obscura.net/?ref=tftc.io)

[USE CODE TFTC25](https://obscura.net/?ref=tftc.io)

**Outsmarts internet censorship**: works even on the most restrictive Wi-Fi networks where other VPNs fail.
**Pay with bitcoin over Lightning:** better privacy and low fees.
**No email required:** accounts are generated like bitcoin wallets.
**No trade-offs**: browse freely with fast, reliable speeds.

**Exclusive Deal for TFTC Listeners:**
Sign up at [obscura.net](https://obscura.net/?ref=tftc.io) and use code **TFTC25** for **25% off your first 12 months**.

Now available on **macOS, iOS, and WireGuard**, with more platforms coming soon — so your privacy travels with you wherever you go.

* * *

_Ten31, the largest bitcoin-focused investor, has deployed $200M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at_ [ten31.vc/invest](https://ten31.vc/invest?ref=tftc.io)_._

* * *

**Final thought...**

The relationship between big pharma companies, schools and the federal and state governments is absolutely abhorrent.

* * *

_Download our free browser extension, **Opportunity Cost**:_ [https://www.opportunitycost.app/](https://www.opportunitycost.app/?ref=tftc.io) start thinking in SATS today.

_Get this newsletter sent to your inbox daily:_ [_https://www.tftc.io/bitcoin-brief/_](https://www.tftc.io/bitcoin-brief/)

_Subscribe to our YouTube channels and follow us on Nostr and X:_

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[![England Has Gone Mad](https://www.tftc.io/content/images/2025/03/yt.png)](https://youtube.com/@TFTC?feature=shared&ref=tftc.io)

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Trump’s Fed clashes and rising deficits expose a politicized system, while Bitcoin stands as the only independent policy.

Key Takeaways
-------------

![Bitcoin Alpha - Trump & The Fed Just Triggered a Massive Bitcoin Move – 26 Days Left!](https://www.tftc.io/content/images/2025/08/Bitcoin-Alpha-E010.jpg)

Trump’s public theatrics against the Fed, including pressuring Powell, targeting governors, and appointing Stephen Myron, show how monetary policy is now fully political. With U.S. interest costs surpassing $1 trillion and deficits at $2 trillion, the idea of an independent Fed is collapsing into a Treasury-Fed merger resembling a wartime economy. In this environment, Bitcoin stands alone as the only independent monetary policy, immune to political coercion, while institutions like Harvard signal its growing legitimacy by allocating to ETFs. At the same time, private innovation continues, Block’s new modular mining rig challenges the hardware duopoly and shows how Bitcoin infrastructure can advance regardless of state theatrics.

Best Quotes
-----------

“The global monetary system should not be beholden to the whims of theatrics between a sitting president and the Fed chair.”

“Bitcoin is the only truly independent monetary policy in the world right now, governed by math and physics, not politics.”

“Trump’s clearing house at the Fed shows us: meet the new boss, same as the old boss, different context, same consolidation of power.”

“There’s no Bitcoin CEO for the White House to bully. The U.S. government has to pay the market price like everyone else.”

“Harvard’s $100M ETF buy is a seismic signal. In the endowment world, Harvard is the BlackRock of higher education.”

“If Proto’s rigs really last 10 years with modular upgrades, that saves miners 20% on fleet refresh. That’s massive.”

Conclusion
----------

The U.S. is drifting toward empire-style finance, where deficits, consolidation of power, and politicized Fed decisions undermine any pretense of independence. Bitcoin remains the only monetary system resistant to manipulation, offering certainty in contrast to political chaos. Institutional adoption and hardware innovation show that while governments tighten control, Bitcoin continues to grow outside their grasp, positioning itself as the neutral anchor for the future.

Transcript
----------

(00:00) The following is forformational and entertainment purposes only and should not be construed as financial advice. This discussion is a presentation by 1031, the leading institutional investor focused on the Bitcoin ecosystem. 1031 has over 10 years of experience in Bitcoin and has deployed nearly $150 million into the leading opportunities in the space. To learn more, visit 1031.vc.
(00:25) And uh it looks like it's about 3.1 billion. went up a little bit or a lot. Uh, so the 2.7 is now 3.1. I'm not aware of that. Yeah, it just came out. Yeah, I haven't heard that from anybody. Yeah, it just came out. Our about 3.1 as well. 31 3.2. This came from us. Yes. I don't know who does that. You're including the Martin renovation. You just added entire capital. Yeah, you just you just added in a third building is what that is.
(01:02) That's a third building. No, but it's it's a building that's being built. No, it's been it was built five years ago. We finished Martin 5 years ago. It's part of the overall work. It's not new. So, we're going to take a look. We're going to see what's happening. Uh, and it's got a long way.
(01:23) Do you expect any more additional costs? Don't expect them. Uh we're we're ready for them, but we we have a little bit of a reserve that we'll we may use, but no, we don't expect to be finished in 2027. Um I must admit, I saw a bunch of the clips on X and other parts of the internet. Never saw that part of the conversation. Didn't realize he was calling out line items of the renovation to him in person.
(01:48) Yeah. I I uh I gotta say some of the best whatever you think of Trump um and there there's a lot that can be said about Trump, the man has delivered some of the most iconic political moments of certainly this century. And I think that's that's a top fiverr for me without a doubt. It's so entertaining.
(02:12) I mean, I've I said before uh that I would have paid to see like big brother White House or something like when Joe Biden was in the the the White House just to like see what he was doing on a dayto-day basis. But I would probably pay more to see like big brother White House and just watch Trump all day. Brought in Tim Scott as the muscle to be like, "No, no, it's 3.1." Yeah. Right.
(02:37) who by the way doesn't have a hard hat on. Like the hard hats really make the whole thing that they're standing there in these hard hats and Tim Scott's right next to them with no hard hat. What's the what's the wardrobe choices? Like I mean the the theatrics behind it is uh you know it's something to behold. This is the setup for that.
(02:54) Like they're like okay we're going to we're going to put you on TV and just humiliate you in front of TV. So like get ready here here it comes. And we skip the part where he slaps his back at the end and says, "This guy's this guy's about to go lower interest rates." Um, some some really, you know, some some middle school uh hallway bully power games uh going on here.
(03:17) Well, it reminds me of the one there was one where he was in the was it was it the White House lawn where there was a lot of uh I think they were construction workers hanging around the background and uh they were going after Pal again or was that a different was that someone else? Yeah, we got uh I got lamb I think I talked about this I forget if it was here or RHR but I brought it up.
(03:41) We had cold opened with it on RHR and I made the uncou statement of why is uh why is Donald Trump asking construction workers about interest rate policy? It's probably not their core focus and had a bunch of construction workers on the YouTube comments saying, "Hey, I'm in construction and I understand interest rates." But yeah, that was a that was a scene as well.
(04:06) The fact that the fact that we can't even fully remember all the details of all the different times Trump has publicly uh limbasted or tried to humiliate or otherwise uh viciously critique the Fed chair. I think shows uh is a good indication of where we are right now with uh monetary policy in the US and its relationship to uh the rest of the government, the Treasury Department, etc.
(04:26) Yeah, it's a and just the news cycle, right? Because like when was this? This was It feels like forever ago. We put out our artisal alpha, you know, once every few weeks or once every month or we'll just see. But this seems like it was forever ago. I know it was it occurred since the last time we did Bitcoin Alpha. It was like, you know, a few a few days or maybe a week after the last episode of this.
(04:57) And I I remember um being very frustrated because I knew as soon as I saw it like that's the ultimate cold open and we just missed the chance to do it on the last one. So uh here we are back again and uh even though it's a few weeks old I think it's still it stands the test of time. It does and John I think you used the perfect word earlier theatrics.
(05:15) Uh and I think it's an incredible juosition of the world that we operate in and why we operate in this world. Many don't realize the global monetary system should not be beholden to the whims of the theatrics between a sitting president and sitting chairman of the Federal Reserve. That is essentially what we just witnessed was bullying tactics.
(05:39) For those who don't recall, they were there at the construction site as the government was trying to find a roundabout way to fire pal. Um, and I think at one point they were trying to pull the technicality of the Federal Reserve wasting money, taxpayer money with that that renovation they were doing on the reserve building in DC.
(05:58) Uh, theatrics, it's been happening between Powell and Trump since before Trump was even elected. And we're in the middle or tail end of the summer doldrums. I think this is like really the peak summer doldrums, but it ends next week. We've got Jerome Pal and others in Jackson Hole, Wyoming for their annual event.
(06:24) There will be no interest rate policy decisions made this month outside of some very extreme market volatility which doesn't look like it's going to materialize, but it's it's a pretty boring week. I think markets are down, Bitcoin's down, and I think it's just due to the overall uncertainty of the result of the theatrics that we've been seeing play out over the last 16 months.
(06:44) Yeah, I mean it's the theatrics word, you know, to stick with that. Um, I I do think is relevant to just kind of consider, you know, the the nature of where we are with the system. I think it's in some ways like instructive um for, you know, you could say Trump is violating norms and many people have made that um that case both in this in this term and his prior term.
(07:11) um and he's not, you know, respecting the the system and the way it's set up. Um, but I think it's it's interesting and notable that we this pulls back the curtain a little bit on the fact that this is a system where you know I think we have a it's easy to have a view especially coming from say mainstream academia from your college classroom um from working whether it's on Wall Street or corporate America a bunch of different kind of white collar jobs it's it's kind of very easy to imagine that the the men behind the curtain have uh
(07:42) have it all figured out And um you know they have all the dials properly calibrated and um you know they're they're sitting up there on uh you know Mount uh whatever Mount Olympus or Mount Marin Mariner Eckles building as the case may be in this in this situation and you know dispassionately evaluating every all the data flow that they're getting um and just making the the right decision at all the time or as right as possible based on the data they have with no kind


Official clarifications follow community concerns: non-custodial wallets remain free from restrictions. The post Google Play excludes non-custodial wallets from the new crypto app rules appeared first on Atlas21.

**_Official clarifications follow community concerns: non-custodial wallets remain free from restrictions._**
-------------------------------------------------------------------------------------------------------------

**Google** recently backtracked on what initially seemed to be a significant policy update targeting all crypto wallets: for a moment, it appeared that the Play Store planned to ban unregistered **non-custodial wallets** in several countries, including the United States, the European Union, and the United Kingdom, starting in October. After sparking a wave of concern in the crypto community, Mountain View officially clarified that **non-custodial wallets will remain exempt** from the new restrictions [introduced](https://support.google.com/googleplay/android-developer/answer/16329703) on the **Play Store**.

The confusion arose from the publication of the updated **Google Play** [guidelines](https://support.google.com/googleplay/android-developer/answer/16329703), which will come into effect on October 29. Initially, many users and developers feared that non-custodial wallets might also be affected by the new rules. However, Google later [clarified](https://x.com/newsfromgoogle/status/1955743865144795581) the situation through its **Help Center**, specifying that _“non-custodial wallets are not in scope of Google Play’s Cryptocurrency Exchanges and Software Wallets Policy.”_

### **The policy change**

The new rules are aimed exclusively at custodial digital asset service providers. **Custodial wallet** applications, such as those provided by exchanges, will now need to obtain specific licenses to operate in over 15 jurisdictions, including the **United States** and the **European Union**.

In the U.S., custodial wallet developers will have to register as a _“money services business”_ or _“money transmitter”_ with local regulators. In Europe, registration as a crypto-asset service provider (CASP) will be required. Companies registered with the Financial Crimes Enforcement Network (FinCEN) will need to implement **Anti-Money Laundering** (AML) and **Know Your Customer** (KYC) programs.

### **Community reactions**

Despite the official clarifications, the community was not entirely reassured. Bitcoin developer **Peter Todd** expressed skepticism in a post on X:

> Google claims this is a mistake. More likely a trial balloon to gauge response.
>
> Notice how this policy will still prohibit Cashu wallets like minibits, Zeus (cashu support), Wallet of Satoshi, and future wallets using cashu to build up funds to open a channel.
>
> Not good at all. [https://t.co/muHtVwSA9m](https://t.co/muHtVwSA9m)
>
> — Peter Todd (@peterktodd) [August 13, 2025](https://twitter.com/peterktodd/status/1955756676692500544?ref_src=twsrc%5Etfw)

**Jacob Wittman**, legal counsel at the Plasma Foundation, [described](https://x.com/jakewittman/status/1955703181553623211) the controversy as a _“nothing burger,”_ while acknowledging that _“the policy change show that tech giants control distribution and we are still at their whim.”_

The relationship between Google Play and the digital asset sector has historically been turbulent. In 2020, the platform removed the Bitcoin Blast video game and several crypto news apps, including those from **Cointelegraph** and **Coindesk**, without providing any explanation.

The post [Google Play excludes non-custodial wallets from the new crypto app rules](https://atlas21.com/google-play-excludes-non-custodial-wallets-from-the-new-crypto-app-rules/) appeared first on [Atlas21](https://atlas21.com).


Michael Howell warns the liquidity cycle is peaking, debt risks are rising, and gold and Bitcoin are key hedges against monetary inflation.

Key Takeaways
-------------

![TFTC - 40-Year Wall Street Vet Warns: 6 Months Before the Bubble Bursts (Bitcoin Next?) | Michael Howell](https://www.tftc.io/content/images/2025/08/Michael-Howell.jpg)

Michael Howell warned that the global financial system is nearing the peak of its liquidity cycle, with debt refinancing risks mounting as trillions in cheap, long-dated obligations begin to roll over. The Fed and Treasury are effectively engaged in stealth yield curve control, suppressing volatility to keep the system stable, but this path risks “Japanification” and entrenched monetary inflation. With 80% of global lending collateral-based, stability in Treasury markets has become critical, while China’s aggressive liquidity injections and gold monetization signal a shift toward hard assets. Howell argued that gold and Bitcoin stand out as essential hedges, with Bitcoin’s strategic value rising as an independent, long-term safe asset outside government control.

Best Quotes
-----------

“Almost every financial crisis, if you look back, has been a debt refinancing crisis in some way.”

“In 4,000 years of recorded interest rate history, there’s no mention of zero rates, until COVID.”

“What they want is yield curve control. They can’t afford volatility in collateral markets because 80% of global lending now depends on collateral.”

“If I’m optimistic about gold, I have to be optimistic about Bitcoin.”

“What would happen if you could only invest in short-dated government debt or Bitcoin?”

“The U.S. may be the cleanest shirt in the laundry, but it’s still in the laundry.”

Conclusion
----------

Howell sees the system entering a dangerous phase where liquidity is peaking, debt pressures are intensifying, and policymakers have few tools left beyond suppressing volatility and monetizing debt. This will drive monetary inflation, erode real wealth, and make hard-asset hedges indispensable. Gold and Bitcoin, he argues, are positioned to benefit most, with Bitcoin in particular evolving from a liquidity-sensitive risk asset into a strategic safe haven in a world of accelerating debt cycles and weakening fiat credibility.

Timestamps
----------

0:00 - Intro
1:12- Big day at Jackson Hole
7:57 - Bessent’s contradictions
14:03 - Yield curve control
18:35 - Bitkey & Unchained
20:16 - AI and global liquidity cycle
35:01 - Stablecoins
38:44 - Obscura and Opportunity Cost
40:09 - Mechanics and future of liquidity cycles
46:42 - Questioning AI productivity
52:18 - China’s influence on liquidity cycle

Transcript
----------

(00:00) If you look at the last 5 to 10 years, we've labeled that the everything bubble. Fed liquidity was up 350 billion. The broad balance sheet fell by about 250. You've got liquidity and the balance sheet going in opposite directions. We're talking about taking 3 to400 billion out of money markets.
(00:18) Disconnection from financial markets and the real economy. Almost every financial crisis, if you look back, has been a debt refinancing crisis in some way. 80% of all lending worldwide now is collaterally based. Nowhere in that book is there any mention of zero interest rates. So in 4,000 years we haven't had it, but we did have it in CO. It's a form of yield curve control.
(00:37) What they'd like is JPAL to come interest rates. The US may well be the cleanest shirt in the laundry, but you know, hey, it's in the laundry. We are reaching a peak 6 months, 9 months time. We're clearly getting late in the cycle. Stable coin are a great mechanism to buy treasuries, but it basically creates a sort of virtual circle.
(00:53) So it's effectively printing money. What would happen in the world if you could only invest in shortdated government debt or you can invest in Bitcoin? Why was 2024 so depressed? The Chinese were trying to shadow a strong dollar and they couldn't do it. I'm very optimistic of gold. If I'm optimistic of gold, I got to be optimistic of Bitcoin.
(01:13) Michael How, thank you for joining me again. Big day. Yeah, big day today. Big day out in Jackson Hole. Everybody's waiting with uh baited breath to see what Jerome Pal is going to say. I was watching uh I couldn't sleep this morning. I woke up at 3:30 a.m. and just decided to get up and start working and have been watching CNBC and it's been funny watching their commentary.
(01:37) A lot of back and forth I think considering that this meeting is happening today. Um we'll post this on Monday and so I guess the pressure is on to sort of predict what Jerome Pal is going to do. How would you describe his current predicament and what he may or may not do later today? Well, I think it's it's it's clearly a difficult situation.
(02:01) You know, they uh they always say as an old Irish joke that um where they say to travelers, how do you get from here to Dublin? And the answer is uh well, if I was going to Dublin, I wouldn't be starting from here. And I think that, you know, that's pretty much what I would describe the Fed situation is.
(02:20) I mean Jerome Pal is in a difficult situation given the uh the sort of push back or aggressive push back he gets from the administration. Uh I mean that's for sure. U but I think the other thing is that they kind of painted themselves in a corner a bit. I mean on most on most counts rates should be lower than they are. I think he finds it difficult now to probably admit that.
(02:38) Um so there is some resistance but I think you can see within the FOMC uh there is a growing uh willingness I think to cut interest rates. I think given what's going on internationally and uh with rates and maybe as well what's happened lately to the dollar the rally uh the weakening in the US economy. I think there's grounds for for rates to be cut. That's for sure.
(03:01) I think the more difficult question, which is, you know, something I'm sure we're going to dig into, is really what happens to the Fed balance sheet, uh, the Fed operating system, you know, looking at longer term because they've been promising us some information about the new operating, uh, uh, procedures of the Fed for a long time now and nothing's come out. So I kind of expect or maybe maybe think that they're going to do something announce something at Jackson Hole about the new operating procedures that they've been talking and thinking about for some time now. Uh that that may come out in an
(03:31) announcement. But I think the the the more fundamental question is what happens to liquidity and really the size of the balance sheet. And I think that's relevant given the fact that if you look over the first six, seven months of the year, uh Fed liquidity, the amount of money that the Federal Reserve injects into money markets, actually was up 350 billion.
(03:59) Uh even though the overall balance sheet uh itself, the broad balance sheet fell by about uh 250 billion. So you've got liquidity and the balance sheet going in opposite directions. And that's kind of because uh there are you know other ways of injecting liquidity into the system apart from the headline balance sheet um you know number uh and that's things like the treasury general account the reverse repo program uh etc.
(04:19) And they've been actually positively buzzing and actually adding money to markets which is why risk assets have kind of done so well over the last few months. Uh the question is that if the Treasury is insisting on rebuilding that account, their account at the Fed, the Treasury General account which was forcibly run down because of the debt ceiling, if that now is rebuilt in the second half of the year, then a lot of liquidity is going to come out of markets.
(04:43) Now, that's what investors are fearing. I don't think it's going to come to that because I just don't think they're in a position where they can do that. And that's why I say I think the Fed has kind of painted itself into a corner a bit here. Yeah. in terms of choreographing or making the market aware of new operations.
(05:02) Can we dive into that in in terms of what they may or may not change or what the market is looking for them to change? Yeah, I think that a lot of the market talk is really about whether they're going to change, you know, average inflation targeting to, you know, maybe change the nuance of that.
(05:21) Could they, you know, change the symmetry in uh in that in that gold? That could be done. um you know for example I think that that's one of the things that is sort of high on the agenda as a change um there could be more technical things about um uh uh about how their operating procedures are changed I mean that that may be necessary but I would say you know one of the things that may come in and this has been mooted in terms of what the Fed has wanted to do is maybe they're going to announce that they're going to be uh a bigger buyer of Treasury bills in the market uh than
(05:52) they have been now one of the things that was suggested or has been suggested uh in speeches over recent months is that the makeup of the uh Federal Reserve's holdings of government debt the uh the SOM account, the so-called SO account is generally vested in longer duration treasuries. So things like 10-year notes for example, and that's not really um the sort of representative of the average mix of treasury debt uh out there in the market.
(06:23) uh there's as you know there's been a lot of very very short-term issuance uh operating particularly under Yelen but you know Scott Besson's continued that and so the treasury is slated to issue a lot more bills now on the one hand that's uh you know playing to this whole argument about stable coins being big buyers of treasuries in the future and they like bills sure I I go along with that but then the Federal Reserve should be matching if you like in it hold in its sr account u the average uh mix of debt in the market and the moment they're not
(06:55) uh their s account is too heavily weighted to longe


Treasury Secretary Bessent confirms the “budget-neutral” strategy for the strategic bitcoin reserve. The post USA: no new purchases for the strategic bitcoin reserve appeared first on Atlas21.

**_Treasury Secretary Bessent confirms the “budget-neutral” strategy for the strategic bitcoin reserve._**
----------------------------------------------------------------------------------------------------------

In an [interview](https://x.com/CoinDesk/status/1955985768620454098) on _“Mornings with Maria”_ on _Fox Business_, Treasury Secretary **Scott Bessent** stated that the United States will not proceed with acquiring new bitcoins through direct market purchases.

> ![🇺🇸](https://s.w.org/images/core/emoji/16.0.1/72x72/1f1fa-1f1f8.png) NEW: Treasury Secretary claims on Fox Business the US "will not be buying" Bitcoin but will use "confiscated assets and continue to build that up" as a Bitcoin reserve. [pic.twitter.com/8A09BmzVYC](https://t.co/8A09BmzVYC)
>
> — CoinDesk (@CoinDesk) [August 14, 2025](https://twitter.com/CoinDesk/status/1955985768620454098?ref_src=twsrc%5Etfw)

No taxpayer dollars will be used to increase holdings in digital assets, Bessent confirmed. He clarified that the strategy is based exclusively on a _“budget-neutral”_ approach, using only **bitcoins seized** through legal confiscation operations. The strategic reserve will therefore grow solely through the accumulation of digital assets obtained via legal actions and seizures.

The new policy outlined by Bessent calls for the **immediate halt of bitcoin sales** from the government’s holdings, marking a shift from previous practices, when U.S. authorities tended to liquidate seized digital assets. Currently, the U.S. government’s bitcoin holdings are estimated at between **$15 billion and $20 billion** at today’s prices, Bessent said.

The Treasury Secretary also noted that gold will continue to play its traditional role as a _“store of value”_ for the American people.

The post [USA: no new purchases for the strategic bitcoin reserve](https://atlas21.com/usa-no-new-purchases-for-the-strategic-bitcoin-reserve/) appeared first on [Atlas21](https://atlas21.com).


There is a way to transfer money directly to a bank account by sending a BTC transaction: the Bull Bitcoin service. The post Paying to an IBAN… in Bitcoin appeared first on Atlas21.

[![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/Banner-Bull-Bitcoin-ENG.png?resize=976%2C75&ssl=1)](https://app.bullbitcoin.com/registration/atlas21)

**_There is a way to transfer money directly to a bank account by sending a BTC transaction: the Bull Bitcoin service._**
-------------------------------------------------------------------------------------------------------------------------

Despite it being possible to exchange goods and services in bitcoin since its early years, its adoption as a payment method remains still limited. What Bitcoin is facing, and will have to continue to face in the coming years, is the process of monetary evolution.

Today, in fact, there are still few businesses that directly accept bitcoin payments. In most cases, bitcoiners find themselves forced to convert their funds into fiat currency to be able to make daily payments. However, this barrier is starting to fade thanks to the emergence of new services.

Over the years, the market has witnessed the birth of various services specialized in facilitating bitcoin payments. Among the pioneers in the sector stands out **Bitrefill**, a platform that allows purchasing gift cards and topping up services using bitcoin directly. Over time, similar solutions have developed that allow paying for various goods and services.

Last January, when **Bull Bitcoin** extended its services to the European market, a new possibility was made available. The Canadian broker, known for its Bitcoin-only philosophy and strictly non-custodial approach, offers a solution that **allows paying any service or entity that accepts bank transfers in euros using bitcoin directly**. This means being able to make payments to suppliers, public entities, companies, individuals and even top up debit cards linked to an IBAN, all without ever having to manually convert bitcoin into fiat currency.

### **How it works**

The process for making payments through Bull Bitcoin is simple and intuitive. Here is the step-by-step procedure:

1.  Account creation

The first step consists of [registering](https://app.bullbitcoin.com/registration/atlas21) on Bull Bitcoin. The process is as follows:

*   visit the Bull Bitcoin [website](https://www.bullbitcoin.com/);
*   click on “Sign up”;
*   enter the required data (email and password);
*   confirm the email and complete the account verification.

2\. Access to the “Send fiat payments” function

Once you have logged into your verified account:

*   navigate to the main menu;
*   click on “**Send fiat payments**“;
*   this function will allow you to use your bitcoins for payments in euros to any European IBAN.

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/901.jpg?resize=501%2C479&ssl=1)

3\. Entering recipient data

The system will require you to enter the beneficiary’s information:

*   **recipient’s IBAN**: enter the complete IBAN code of the service or person who must receive the payment or select an existing beneficiary;
*   **beneficiary’s name**: specify the exact name as registered with the bank.

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/902.jpg?resize=519%2C460&ssl=1)

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/903.jpg?resize=517%2C631&ssl=1)

4\. Defining the amount and completing the payment

The last step of the process is as follows:

*   **enter the amount in euros** you wish to send (Bull Bitcoin will detect the exact amount even if you send more satoshis);
*   the system will automatically calculate the bitcoin equivalent at the current exchange rate;
*   **payment reference**: add a payment description (bill, service, invoice, etc.) so that the beneficiary knows it is you paying (avoid mentioning bitcoin in the description);
*   send to the BTC/Liquid address or pay the Lightning Network invoice. The exchange rate will be locked as soon as Bull Bitcoin detects the transaction;
*   as soon as the exchange receives the funds, it will pay your beneficiary through one of its bank accounts.

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/5.jpg?resize=451%2C403&ssl=1)

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/6.jpg?resize=441%2C622&ssl=1)

![](https://i0.wp.com/atlas21.com/wp-content/uploads/2025/08/7.jpg?resize=448%2C275&ssl=1)

**The possibility of paying any service that accepts bank transfers in euros using bitcoin** directly eliminates one of the main barriers to adoption as a medium of exchange, simplifying the daily life of bitcoiners and offering the opportunity to live in the Bitcoin Standard without having to continuously resort to conversions into fiat currency. It is a real bridge between the Bitcoin ecosystem and the traditional banking system.

* * *

_Bull Bitcoin is the world’s longest-running Bitcoin-only exchange. Strictly non-custodial. Try it [here](https://app.bullbitcoin.com/registration/atlas21)._

The post [Paying to an IBAN… in Bitcoin](https://atlas21.com/paying-to-an-iban-in-bitcoin/) appeared first on [Atlas21](https://atlas21.com).


Sazmining Sees $185k Invested In Equity Crowdfunding Round Through TimeStamp

Sazmining, the renewable-powered Bitcoin Mining-as-a-Service company, has attracted over $185,000 in crowd capital. The startup opened its equity…

[Sazmining](https://sazmining.com), the renewable-powered Bitcoin Mining-as-a-Service company, has attracted over $185,000 in crowd capital. The startup opened its equity crowdfunding campaign to the public on the bitcoin funding platform [Timestamp Financial](https://invest.timestampfinancial.com/offering/sazmining/details).

The firm seeks to complete a $618,000 in funding at a $30M valuation cap pre-money. The investment vehicle of choice is a SAFE note which will convert into equity later.

According to founder and CEO Kent Halliburton, the agreed pre-money valuation was determined by taking Sazmining’s proforma financial model projecting EBITDA for 2025 and multiplying it by an Enterprise Multiple. The enterprise multiple used was 75% of the average for AirBNB, Coinbase and MARA’s enterprise multiples.

The round gives anyone the chance to own a stake in Sazmining while supporting its mission: making Bitcoin mining decentralized, sustainable, and accessible.

**Why the Raise?**
------------------

Bitcoin adoption is accelerating, with governments and businesses building treasuries around it. Sazmining believes those treasuries should begin with bitcoin mined directly from the network, not coins bought through centralized exchanges.

“Mining is the most sovereign way to acquire bitcoin,” said Kent Halliburton, CEO and Co-Founder of Sazmining. “This raise allows more people to participate in that mission and benefit from the growth of the mining ecosystem.”

**Powered by Clean Energy**
---------------------------

All Sazmining operations run on renewable energy, with active sites across North and South America as well as Europe. The company has already shown 350% year-over-year growth and aims to use this raise to expand its reach even further.

**How to Participate**
----------------------

The crowdfunding campaign is open to the public and hosted by Timestamp:

[invest.timestampfinancial.com/offering/sazmining/details](https://invest.timestampfinancial.com/offering/sazmining/details)

For those who believe in decentralization, clean energy, and stacking sats the right way, this is the moment to get involved.


Steak ’n Shake’s Cuts Payment Fees By 50% With Bitcoin

Steak ’n Shake, said it realized a 50% reduction in payment fees compared to traditional credit cards. The…

Steak ’n Shake, [said](https://paywithflash.com/bitcoin-payments-in-retail-steak-n-shake-enterprise/) it realized a 50% reduction in payment fees compared to traditional credit cards. The chain also said it saw sales spike 10.7% after integrating bitcoin payments.

Founded in 1934, the classic American burger restaurant embraced Bitcoin payments earlier this year across its U.S. and European company-operated restaurants.

This initiative is one of the [clearest examples](https://paywithflash.com/bitcoin-payments-in-retail-steak-n-shake-enterprise/) of Bitcoin moving beyond speculative investment into practical use as a retail payment method.

**Business Drivers Behind Bitcoin Adoption**

With card processing fees continuing to climb—merchants in the U.S. paid $172 billion in 2023 alone—retailers are always looking for ways to improve efficiency.

Steak ’n Shake’s experience confirms Bitcoin acceptance translates into tangible savings, with the company reporting up to a 50% reduction in payment fees compared to traditional credit cards.

In retail sectors where net profit margins typically range from 2% to 5%, halving payment costs can significantly enhance profitability or fund reinvestment in quality, technology, or customer experience.

But cost is only part of the story. Bitcoin transactions settle faster and are immune to chargebacks, offering operational benefits. For payments operations teams, this means fewer disputes, lower fraud risk, and more reliable cash flow—advantages that can reduce overhead and administrative burden.

**Meeting Customers Where They Are**

Perhaps most compelling from a revenue-growth perspective is how Bitcoin acceptance has influenced customer behavior. On the day of launch, Steak ’n Shake accounted for 0.2% of global Bitcoin transactions.

Following the rollout, the company observed a sustained spike in customer traffic, reflecting that bitcoin acceptance meets emerging consumer expectations, especially among younger demographics.

This dynamic underscores an important consideration for retail payment strategists: enabling Bitcoin payments is both a facility upgrade and a customer acquisition strategy focused on engaging tech-savvy, high-value segments increasingly comfortable with bitcoin and Lightning payments.

**Strategic Differentiation for Legacy Brands**

Steak ’n Shake’s decision to place Bitcoin on equal footing with cash and credit cards signals a shift. By normalizing bitcoin payments as a standard option, the company has positioned itself as a future-forward brand willing to adopt emerging technologies pragmatically rather than as a marketing afterthought.

This approach is instructive for enterprises weighing digital payment innovation. Bitcoin is no longer a fringe payment experiment but a legitimate component of an omnichannel payment strategy, capable of enhancing brand equity and competitive positioning.

**Growth Metrics Affirming Cryptocurrency’s Role in Retail**

Broader market data reinforces the significance of Steak ’n Shake’s move. Crypto payment volume surpassed $1.3 trillion in 2024, with projections suggesting retail crypto transactions could exceed $4.5 trillion annually by 2030. Meanwhile, surveys show 75% of U.S. retailers aim to accept crypto or stablecoins within the next two years, reflecting mainstream momentum.

**Implications for Payments Executives**

For CFOs, CROs, CTOs, and payment strategists in retail, Steak ’n Shake presents a real-world benchmark:

*   **Cost Efficiency:** Cutting payment processing fees by half can materially impact margin in a low-margin sector.
*   **Operational Streamlining:** Faster settlements and reduced chargeback exposure improve liquidity and reduce administrative costs.
*   **Customer Engagement:** Meeting crypto-native customers where they prefer to pay unlocks new revenue streams.
*   **Brand Modernization:** Early adoption signals innovation leadership and future-proofs payment offerings.

As enterprise retail continues to digitize payments and diversify rails, the Steak ’n Shake example bolsters the argument for Bitcoin’s maturity as a commerce medium—ready to be [integrated](https://paywithflash.com/integrations/) into global payment portfolios beyond speculation and hype.

> [How Flash Enables Interoperable, Self-Custodial Bitcoin Commerce](https://lightning.news/interoperable-self-custodial-bitcoin-commerce/)


Bitcoin Tipping Is Now Live on X, Powered by BitBit and Spark

500 million X users can now receive bitcoin payments instantly, evenwithout a pre-existing wallet. LOS ANGELES (CA), 8/18/2025…

_500 million X users can now receive bitcoin payments instantly, even
without a pre-existing wallet._

**LOS ANGELES (CA), 8/18/2025** – BitBit, the self-custodial social wallet that lets users instantly send and receive bitcoin directly in their browser, today announced the launch of its X (formerlyTwitter) integration, [enabling](https://lightning.news/bitcoins-lightning-network-soars/) users worldwide to exchange bitcoin tips on the platform seamlessly. The payments will be associated with X usernames, allowing anyone to receive them, even without a wallet.

The integration leverages Spark,the fastest, cheapest, most UX-friendly way to build financial apps and launch assets on bitcoin. Spark is built by Lightspark, providing open, always-on payments solutions for the Internet powered by Bitcoin: the only open, neutral network for moving value. Lightspark powers integrations with partners such as Coinbase, NuBank, Bitso, and many more to enable payments on bitcoin.

“At Lightspark, we’re working tirelessly to ensure the future of money looks like the open Internet,” said David Marcus, Lightspark’s co-founder and CEO. “Spark is built on Bitcoin because it’s the only open, neutral network for moving value. By choosing Spark, the BitBit wallet builds on this openness and proves bitcoin’s potential to empower creators and the global X community.”

While tips have been available on X since 2021, this is the **first self-custodial tipping solution** available to the public. By leveraging Spark, the fastest, cheapest, and most UX-friendly way to build financial apps and launch assets on Bitcoin, the solution eliminates the technical friction and complexity associated with scaling solutions like the Lightning Network, providing users with a seamless and intuitive wallet experience. Tip receivers will have 21 days to create a wallet to receive the money; otherwise, a refund transaction will automatically be sent back to the sender.

“It’s very important to meet people where they are rather than assume they will learn how to use new technologies,” said Felipe Servin, Founder and CEO of BitBit. “With over 500 million people already using X and most of the bitcoin-focused conversations happening there, this is the ideal place to integrate bitcoin payments for the general public.”

The extension is now live for all Chrome-compatible browsers, with mobile support and stablecoin integrations coming very soon. Install it here:
[https://chromewebstore.google.com/detail/fngpibmhccdaokelgaccddiehlggihlo](https://chromewebstore.google.com/detail/fngpibmhccdaokelgaccddiehlggihlo)

**About Spark**

Spark is the fastest, cheapest, most UX-friendly way to build financial apps and launch assets on Bitcoin. We’re building the Bitcoin internet. Follow on X [@spark](https://x.com/spark)

**About BitBit**

BitBit is a self-custodial social Bitcoin wallet that lets users send and receive bitcoin and stablecoins right directly in their browser. Powered by Spark, a next-gen Bitcoin Layer 2, BitBit integrates directly with X usernames for frictionless tipping, payments, and community engagement, all without sacrificing privacy or control of funds. To learn more about BitBit, visit [bitbit.bot](https://bitbit.bot/)

**Press Contact**
[press@sati.pro](mailto:press@sati.pro)


Bitcoin Indonesia Conference 2025 Returns to Bali: Weeklong Celebration of Financial Freedom

Bali, Indonesia — Bitcoin Indonesia proudly announces the return of the Bitcoin Indonesia Conference 2025, the country’s premier…

Bali, Indonesia — _Bitcoin Indonesia_ proudly announces the return of the Bitcoin Indonesia Conference 2025, the country’s premier bitcoin-only gathering, set to take place on September 5, 2025, at Bitcoin House Bali.

This year’s event is the centerpiece of Bitcoin Week Bali, a 10-day celebration of grassroots adoption, education, and real-world use cases in one of the world’s most vibrant bitcoin communities, Bali Bitcoin Island.

Themed **“Education, Community, and Driving Local Adoption,”** the conference brings together **250+ attendees** from Indonesia and around the world for a unique blend of talks, workshops, cultural experiences, and deep connection—all in the heart of paradise.

**“This isn’t just a conference—it’s a unique experience,”** says Diana, Co-Founder of Bitcoin Indonesia. _“We’re building a future where bitcoin empowers people, and Bali is where that revolution takes root.”_

> ![🏝](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3dd.png)![✨](https://s.w.org/images/core/emoji/16.0.1/72x72/2728.png) Bitcoin Indonesia Conference is just 3 weeks away!
>
> Bitcoin meets Bali. From powerful talks to rice field views, from deep conversations to new friendships – this isn’t just a conference, it’s an experience!
>
> Are you ready to be part of it?
>
> ![🎟](https://s.w.org/images/core/emoji/16.0.1/72x72/1f39f.png) Last tickets available:… [pic.twitter.com/W7NTRrCMMo](https://t.co/W7NTRrCMMo)
>
> — Bitcoin House Bali (@btchousebali) [August 14, 2025](https://twitter.com/btchousebali/status/1955873293426135262?ref_src=twsrc%5Etfw)

**What to Expect:**
-------------------

 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Inspiring Talks & Workshops** – [Learn](https://lightning.news/the-bitcoin-way-path-to-true-sovereignty/) from international and local bitcoin experts
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Networking & Social Events** – Meet bitcoiners from Indonesia & beyond in a relaxed, island-vibe setting
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Bitcoin Market** – Redeem your bitcoin and support local merchants
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Exhibition** – Discover bitcoin projects, companies & innovations
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Cultural Experience** – Immerse yourself in Bali’s magical culture with performances, local cuisine & spiritual traditions
 **![✅](https://s.w.org/images/core/emoji/16.0.1/72x72/2705.png) Afterparty** – Celebrate under the Bali sky with good vibes, great people & tropical drinks

This year’s event follows the momentum of previous conferences, which have hosted speakers such as Jack Dorsey, Alex Gladstein, Saifedean Ammous, and more. The 2025 edition promises even deeper community engagement, with events tailored for educators, developers, merchants, and everyday bitcoiners.

The conference is organized by Bitcoin Indonesia, a grassroots initiative and Human Rights Foundation grantee focused on bitcoin education, community building, and financial empowerment. With 36+ active meetups across the country, Bitcoin Indonesia is helping build a resilient circular economy from the ground up.

“Bali was once known as the ‘Bitcoin Island’ in 2014 before being shut down by the Central Bank. Now, the community is bringing it back—stronger and more sovereign than ever.”

**Want More? Stick Around for Bitcoin Week!**
---------------------------------------------

The Bitcoin Indonesia Conference is the highlight of Bitcoin Week Bali—a full week of exclusive side events celebrating bitcoin on the island. September 1-8, 2025 – Featuring:

![👩🎓](https://s.w.org/images/core/emoji/16.0.1/72x72/1f469-200d-1f393.png) AmityAge Educators Academy
![🌸](https://s.w.org/images/core/emoji/16.0.1/72x72/1f338.png) Women’s Brunch
![🙌](https://s.w.org/images/core/emoji/16.0.1/72x72/1f64c.png) Meetups
![🏝](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3dd.png) Island Explorations
![🧖🏼](https://s.w.org/images/core/emoji/16.0.1/72x72/1f9d6-1f3fc.png) Spiritual Spa Day
![🏄♂](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3c4-200d-2642-fe0f.png) Bitcoin Beach Run, Surf & Yoga
![🌱](https://s.w.org/images/core/emoji/16.0.1/72x72/1f331.png) Sovereign Gardening
![💜](https://s.w.org/images/core/emoji/16.0.1/72x72/1f49c.png) Freedom, Nostr & Nomad Day
![🎾](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3be.png) Island Padel Night
& much more!

 **![⚠](https://s.w.org/images/core/emoji/16.0.1/72x72/26a0.png)**Heads up! Your ticket only covers the main conference on September 5th. Other Bitcoin Week events are separately organized and require additional registrations.

**Tickets & Sponsorship**
-------------------------

Tickets for the conference are limited and now available at [www.bitcoinweekbali.xyz](http://www.bitcoinweekbali.xyz)

Sponsorship opportunities are open, with customizable packages that include brand exposure, speaking slots, and immersive activations throughout the week.

Join us & be part of Indonesia’s Bitcoin revolution!

 **![🏝](https://s.w.org/images/core/emoji/16.0.1/72x72/1f3dd.png)![⚡](https://s.w.org/images/core/emoji/16.0.1/72x72/26a1.png) See you in Bali Bitcoin Island!**

**Contact:**

Diana, Co-Founder Bitcoin Indonesia & Bitcoin House Bali

![📧](https://s.w.org/images/core/emoji/16.0.1/72x72/1f4e7.png) **Email** [diana@bitcoinindonesia.xyz](mailto:diana@bitcoinindonesia.xyz)

![🌐](https://s.w.org/images/core/emoji/16.0.1/72x72/1f310.png) **Website** [www.bitcoinweekbali.xyz](https://bitcoinindonesia.xyz/)

![🐦](https://s.w.org/images/core/emoji/16.0.1/72x72/1f426.png) **X** [@bitcoinindo21](https://x.com/bitcoinindo21) & [@btchousebali](https://x.com/btchousebali)

![📸](https://s.w.org/images/core/emoji/16.0.1/72x72/1f4f8.png) **Instagram** [@bitcoinindo21](https://www.instagram.com/bitcoinindo21/) & [@bitcoinhousebali](https://www.instagram.com/bitcoinhousebali/)


Bitvocation Report Reveals Strongest Growth of the Year, Signaling Major Industry Expansion Bitcoin’s job market shattered expectations in…

_Bitvocation [Report](https://bitvocation.substack.com/p/bitcoin-job-market-update-july-2025) Reveals Strongest Growth of the Year, Signaling Major Industry Expansion_

Bitcoin’s job market shattered expectations in July 2025, surging to 184 new roles – a 52% year-over-year jump and the highest monthly growth of 2025 – according to a report released by [Bitvocation](https://lightning.news/bitvocation-cure-for-bitcoin-employment-crisis/), a leading bitcoin talent analytics platform. The data signals accelerating confidence in bitcoin’s infrastructure and a pivotal shift in hiring priorities.

![bitcoin jobs](https://lightning.news/wp-content/uploads/2025/08/bitcoin-jobs-1024x948.png "Bitcoin Job Market Explodes in July 2025 2")

**Key Findings from Bitvocation’s July Report:**
------------------------------------------------

1.  **Historic Hiring Momentum:**
    *   July listings soared to 184 (up from 135 in June), marking the second-strongest hiring month of 2025.
    *   Bitcoin-only companies held 43% market share, driving ecosystem-focused growth.

![bitcoin monthly jobs 1](https://lightning.news/wp-content/uploads/2025/08/bitcoin-monthly-jobs-1-1024x846.png "Bitcoin Job Market Explodes in July 2025 3")

*   **Developer Demand Roars Back:**
    *   Developer roles surged to 33% of all listings (up from 25% in June), ending a multi-quarter slowdown.
    *   Non-dev roles (marketing, ops, compliance) still dominate (67%), but technical talent is now the fastest-growing segment.

![non dev vs dev](https://lightning.news/wp-content/uploads/2025/08/non-dev-vs-dev-1024x948.png "Bitcoin Job Market Explodes in July 2025 4")

*   **Remote Work Revolution:**
    *   45% of all roles are remote – Bitcoin-only firms lead with 54% remote offerings (vs. 38% at multi-asset companies).
    *   U.S. (59 roles), Singapore (13), Gibraltar (7), and Czechia (6) emerged as top hiring hubs.

![remote vs on site hybrid category split 1](https://lightning.news/wp-content/uploads/2025/08/remote-vs-on-site-hybrid-category-split-1-1024x703.png "Bitcoin Job Market Explodes in July 2025 5")

*   **AI’s Quiet Infiltration:**
    *   Roles like _AI Video Creator_ and _AI System Optimization Engineer_ appeared, signaling stealth integration of AI tools into bitcoin workflows.
*   **Experience Over Entry-Level:**
    *   Mid/senior hires prioritized; entry-level roles dropped to 11% of postings as companies focus on execution.

![seniority levels 2](https://lightning.news/wp-content/uploads/2025/08/seniority-levels-2-1024x482.png "Bitcoin Job Market Explodes in July 2025 6")

*   **Bitcoin-Only vs. Multi-Asset Firms:**
    *   ![🟠](https://s.w.org/images/core/emoji/16.0.1/72x72/1f7e0.png) **Bitcoin-only:** Focused on ecosystem growth (74% non-dev roles: community, marketing).
    *   **Multi-asset firms:** Driving developer hiring (37% tech roles) to expand infrastructure.
*   **Global Talent Shift:**
    Singapore solidified its position as Asia’s bitcoin hub, while Europe (Gibraltar, Czechia) and LatAm (Brazil) gained traction.

![bitcoin jobs with location 1](https://lightning.news/wp-content/uploads/2025/08/bitcoin-jobs-with-location-1-1024x614.png "Bitcoin Job Market Explodes in July 2025 7")

#### ![🌟](https://s.w.org/images/core/emoji/16.0.1/72x72/1f31f.png) **Featured Talent Ready to Build:**

Bitvocation’s POW Lab – bitcoin’s talent pool – includes elite professionals open to roles:

**What’s Next?**
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Q3 2025 is poised to become bitcoin’s strongest hiring quarter yet. Companies seeking data partnerships or custom hiring insights can contact Bitvocation to leverage their real-time job market intelligence.

**Get the Full Report & Talent Access:**

*   ![📱](https://s.w.org/images/core/emoji/16.0.1/72x72/1f4f1.png) Follow Jobs: [Telegram](https://t.me/bitvocation_jobs)
*   ![✨](https://s.w.org/images/core/emoji/16.0.1/72x72/2728.png) Join POW Lab: [For Professionals](https://bitvocation.com/pow-lab)

**About Bitvocation:**
Bitvocation is the definitive source for bitcoin job market intelligence and talent connectivity. We track hiring trends, map global opportunities, and empower bitcoin professionals and companies to build the future of sovereign work.

_Data. Talent. Bitcoin._