🟠 BTC Dips

MSTR buys more BTC & ETF outflows                                                                                                                                                                                                                                                                                                                                                                                                                 November 26, 2024 | [Read Online]( 🟠BTC Dips MSTR buys more BTC & ETF outflows First time reading? I’m [Jordan](, and this is [The Bitcoin Minimalist](. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights. Good morning — Jordan here. Looks like some time to re-adjust now that the Bitcoin hype has faded a bit. Happy Tuesday to all 17,836 Minimalist members reading today. 👋 Today we’re covering: - Suriname may adopt Bitcoin as currency - Trump nominates Bitcoin advocate Scott Bessent - Allianz backs Bitcoin via MicroStrategy notes - And everything else you need to know. Estimated read time: 3 minutes and 6 seconds Bitbo Black Friday Deals - 📈 30% off [Bitbo Pro yearly plans]( - use code BFCM24 - ⚡ 25% off [Bitbo Store]( - use code BTC25 WHAT WE’RE WATCHING Trump’s cabinet is now stacked with pro-Bitcoin members. 🪙 [Trump nominates pro-Bitcoin hedge fund manager Scott Bessent as Treasury Secretary.]( A Bitcoin advocate, Bessent calls Bitcoin a "symbol of freedom" and aligns with Trump’s pro-Bitcoin stance. 💰 [MicroStrategy acquired 55,500 BTC for $5.4 billion, bringing its total to 386,700 BTC, valued at $37 billion.]( This marks its largest purchase ever, averaging $97,862 per BTC. 📊 [Texas explores strategic Bitcoin reserves.]( Satoshi Action Fund CEO Dennis Porter revealed discussions with a Texas lawmaker about potential legislation. Texas, with its $2.4 trillion GDP, could join other states like Pennsylvania and efforts at the national level in creating Bitcoin reserves. 📹[Rumble plans to buy up to $20M in Bitcoin.](The video platform, popular among conservatives, aims to allocate excess reserves to Bitcoin as an inflation hedge. Rumble shares rose 4% after the announcement. 🌍 [Suriname’s presidential candidate Maya Parbhoe proposes adopting Bitcoin as legal tender to fight corruption.]( She plans to replace the Suriname dollar with BTC, dismantle the central bank, and promote transparency. Motivated by personal tragedy and systemic corruption, Parbhoe seeks to transform Suriname into a Bitcoin-powered nation. 📊[Fidelity’s Jurrien Timmer shared models linking Bitcoin’s adoption and valuation to macroeconomic factors like real rates and monetary inflation.](He noted slowing wallet growth but highlighted underreported adoption due to ETFs. Timmer’s layered approach emphasizes Bitcoin’s dual role as a network and monetary innovation. 🌟 [Timestamp launches a regulated crowdfunding platform for Bitcoin startups, connecting global investors with innovative projects.](Open to both accredited and non-accredited investors, it simplifies funding with low barriers, no membership fees, and streamlined processes. Currently fiat-only, Bitcoin payments are planned for 2025. 📉 [Spot Bitcoin ETFs faced $438M outflows on Nov. 25, the largest since the U.S. election on Nov. 6.]( This follows record inflows of $1B just days earlier, reflecting shifting sentiment. Bitcoin fell 7% to $92,000 amid profit-taking. IN THE LOOP - The Blockchain Association [urges]( Trump to overhaul SEC, IRS, and Treasury leadership to support pro-Bitcoin policies. - Marathon Digital [acquired]( 5,771 BTC for $572M. - Tether [minted]( $3 billion in USDT. - SEC Chair Gary Gensler [announces]( his resignation effective January 20, 2025. - Allianz, Germany’s largest insurer, has [purchased]( 24.75% of MicroStrategy’s $2.6 billion convertible notes. - Morocco is [drafting]( a law to legalize Bitcoin and cryptocurrency. - Texas now requires Bitcoin miners to [register]( with the PUCT to ensure grid reliability and manage energy demands. POLL Do you or would you consider investing in MicroStrategy stock as an alternative way to gain Bitcoin exposure? MSTR has outperformed Bitcoin in 2024. [💰 Yes, it’s like buying Bitcoin with extra benefits]( [🤔 Maybe]( [🚫 No, I’d rather buy Bitcoin directly]( THURSDAY’S POLL RESULTS Will you continue buying Bitcoin, even at these high prices? 🚀 Yes, Bitcoin to the moon - 64% 💰 Yes, but only small amounts - 16% 🤔 Maybe, still deciding - 5% 🛑 No, it’s too expensive - 5% 📉 No, waiting for a price drop - 10% 🚀 Yes, Bitcoin to the moon - “G-d candle - that's Bitcoin now…📈” - Ben 🚀 Yes, Bitcoin to the moon - “Until 1 million!” - Kevin 🚀 Yes, Bitcoin to the moon - “Stackity stack” - Charlie 🚀 Yes, Bitcoin to the moon - “With BTC potentially much higher by year end 2025, I'm strapping in and continuing to buy” - Chris VIDEO Matthew Kratter of Bitcoin University [explores MicroStrategy](. What’s this company’s end goal, and how in the world do they keep buying more bitcoin?! CHARTS & DATA Price - [Before Bitcoin broke out above ~$93,000]( in November, it consolidated in that range for nearly 10 days. We’re likely simply re-visiting that previous top. Stock to Flow - Bitcoin continues to get closer to the [projected stock to flow model price](. New Bitbo Charts Never miss Bitbo's newest charts. Get an email when we post new charts. [Subscribe]( FROM THE ARCHIVE Bitcoin set new all-time highs shortly after the 2020 Thanksgiving “crash”. 📉 Four years ago, Bitcoin plunged below $16K during the "Thanksgiving Day Massacre." Bitcoin was above $30,000 by January 2, 2021. MORE FROM BITBO The Bitcoin Minimalist is run by Bitbo. Browse our most popular pages across our sites: [Bitbo Pro:]( Analytics & intelligence to supercharge your Bitcoin investing & trading. [Bitbo Charts:]( Useful Bitcoin charts, featuring on-chain metrics and other Bitcoin analysis. [Bitbo Store:]( Shirts, hats, hoodies, mugs, and other merch for Bitcoiners. [Bitbo Dashboard](: View live price action, monitor on-chain data, and track key economic indicators - all for free. 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