Greetings Bitcoiner,

Welcome to issue #126 of the Bitcoin Breakdown, where we are still celebrating White Paper Day!

Sixteen years ago, on October 31, 2008, Satoshi Nakamoto first shared his vision for ‘Bitcoin: A Peer-to-Peer Electronic Cash System.’

Also on October 31, 1517, Martin Luther nailed his 95 theses to a church door.

Happy readings! 👽️

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⚡️ QUICK BITS

• MicroStrategy announces plan to raise $42B to buy more BTC over the next 3 years, consisting of $21B in equity and $21B in debt to add to its current $18B BTC reserve.

• Trump advisor Vivek Ramaswamy's $1.7B asset management firm ‘integrates’ Bitcoin, citing macroeconomic factors.

• Italian Bitcoin tax rate revealed to have been effectively 12.5%, and not the 26% previously applied, potentially leading to refunds for taxpayers who overpaid between 2023 and 2024.

• Fear and Greed Index reaches ‘extreme greed’ levels for Bitcoin, despite a recent price drop from resistance at $73,000.

• NYSE considers extending Bitcoin ETF trading to 22 Hours daily to meet global demand, pending regulatory approval.

• Emory University becomes the first US university endowment to report holding Bitcoin ETFs at $15.1M in Grayscale Bitcoin Mini Trust shares.

• 99.5% of all days since Bitcoin started trading have been profitable now, according to Bitcoin Magazine’s indicator that highlights Bitcoin's historical price trends.

• Coinjoin transaction with 430 inputs breaks the previous record of 400 inputs, sparking discussion about enhancing Bitcoin privacy and the potential for even larger, single-transaction blocks.

• Argentina’s central bank hosts a live bitcoin mining art exhibition.

• Arthur Hayes argues that a great deal of Chinese Yuan, printed to recover from its property crisis, will flow into BTC.

• UAE and Switzerland revealed by research report to be top Bitcoin and crypto tax havens.

• 404 Media exposes powerful smartphone tracking tool sold to US law enforcement that enables warrantless monitoring of individuals based on unique identifiers.

• VanEck's prediction model estimates that Bitcoin will reach $3M by 2050, driven by its potential as a reserve asset.

• Standard Chartered Bank says Bitcoin to hit $125,000 by end of year if Republicans sweep the US election.

• Florida considers adding Bitcoin to state pension funds for investment diversification, shielding retirees against market volatility.

• Blink Wallet adds novel Lighthing Address feature to pay South African retail giant's proprietary QR codes directly.

• Bitkey partners with MoonPay enabling users of the Bitkey App to sell, buy or transfer bitcoin using MoonPay.

• Satoshi reveal in London fails to convince anyone of his identity amid fraud charges.

• Mt Gox transfers $35M in BTC to unknown addresses, raising questions about its connection to creditor repayments, despite a recent postponement of the repayment deadline.

• Peter Todd says HBO could have asked him to refute theories about Satoshi’s identity but they didn’t.

• Tether discloses holding 82,454 BTC, ~100B in US treasuries and 42.3 tons of gold as reserve assets.

• Billionaire Chamath Palihapitiya says Bitcoin is the future and calls it the ‘resounding inflation hedge’ asset.

• Presto analysts say rising odds of a Republican sweep in US elections could accelerate Bitcoin and crypto legislation, impacting market regulations and adoption.

• Trump wishes Bitcoin a happy 16th birthday on X, criticizing Harris and promising to end the ‘war on crypto’ if elected.

• Hong Kong plans to extend tax breaks for Bitcoin and crypto investments and issue more trading platform licenses by year-end.

• Super Testnet says he doesn't consider statechains to be L2s in their current state as operators can collude to stop a user from exiting, if they plan it in advance.

• BlackRock’s Bitcoin ETF leads explosive growth in its category, surpassing $20B as demand for BTC soars among institutions.

• OpenSats issues eighth wave of Bitcoin grants to Bitcoin projects Citadel-Tech, Lampo, Cashu Nutshell and PickhardtPayments Plugin.

• Hong Kong Stock Exchange to introduce price indices for bitcoin next month, providing reference prices in the Asian timezone.

• Steno Research predicts MicroStrategy’s premium on BTC holdings will drop as spot bitcoin ETFs gain investor appeal and stock split effects fade.

• Metaplanet, the Japanese MicroStrategy, boosts holdings to over 1,000 bitcoin, becoming Asia’s second-largest corporate bitcoin holder after Boyaa Interactive.

• Bhutan moves $66M in bitcoin to Binance, retaining approximately $886 million, a move likely influenced by Bitcoin exceeding $70,000.

• Anon hodler transfers 749 BTC, worth $53.2M for the first time since 2012, when its balance was just $8,000.

• Citrea Bitcoin rollup firm raises $14M led by Founders Fund to make bitcoin programmable with zero-knowledge proofs.

• Largest holder of BITCOIN memecoin sells $3.53M, causing token to drop 60%.

• FutureBit Apollo Solo miner hits a block and broadcasts it without the use of a pool.

• Visa and Coinbase team up to offer real-time Bitcoin deposits and transfers using eligible Visa debit cards in the US and EU.

• Coracle, a Nostr client, accidentally shares private keys with error tracking tool, but those who use extensions for login are unaffected.

• Malaysia’s national electricity provider faces $100M loss from bitcoin mining-related electricity theft as authorities crack down on illegal operations.

• Lugano’s new disappearing Satoshi statue took 21 months to create, says its creator Valentina Picozzi.

• Bitstamp gains EU licence to offer regulated Bitcoin and crypto derivatives.

• Bitpanda explores IPO on Frankfurt Exchange, and looks into a potential sale option at $4B valuation.

• Paolo Ardoino, CEO of stablecoin issuer Tether, says that the US government can kill them if they wanted to with the press of a button, while addressing concerns about a purported criminal investigation.

• US Treasury's new financial inclusion strategy largely ignores Bitcoin and crypto, mentioning it only to highlight risks.

• Retail interest in Bitcoin remains low despite nearing all-time high, with institutional demand and AI searches leading trends.

• BlackRock’s Bitcoin ETF trading volume surges to $3.35B and clocks biggest trading day in 6 months as investors rush to buy amid near all-time high prices.

• Brazil's Bitcoin and crypto imports surge 60.7% through September, surpassing the total for all of 2023.

• Bitcoin wallet makers announce the '6102 Sale' on April 5, 2025, to honor financial sovereignty and commemorate both Executive Order 6102 and Satoshi Nakamoto's birthday.

• Reddit sells most of its Bitcoin holdings just before October’s rally, missing substantial gains.

• Michael Saylor shares a fake quote from Trump on Bitcoin and crypto taxation to his 3.6M followers.

• Elon Musk warns that US government is teetering on the brink of bankruptcy and that Bitcoin is an ‘interesting and probably valuable bulwark against centralized control’.

• TSMC, a semiconductor manufacturing company, cuts off Xiamen Sophgo, linked to Bitmain co-founder, amid US investigation into possible Huawei sanctions violations.

• Bitcoin heads for ‘perfect storm’ to new all-time high thanks to favorable market conditions and the upcoming US election, according to Bitfinex analysts.

• 70% of Craig Wright’s claims in his UK lawsuit are ‘twisted and incoherent’, facing a high likelihood of failure, analysts report.

• Leak reveals a $1.4T China earthquake could be about to hit Bitcoin and crypto as BTC price soars.

• Ledger partners with Brink to support Bitcoin developers by donating $5 for each hardware wallet sold, enhancing funding and education efforts.

• Chinese and Saudi Arabian $1B ETF partnership raises concerns about potential impacts on the US Bitcoin ETF market and its liquidity.

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🎥 QUICK MEDIA

• Orange Pill App releases the trailer of a new documentary called ‘What Is A Bitcoiner?’ which explores how Bitcoin is an unstoppable idea that will change the world (Nov 2 | 0:51 min watch).

• Mark Moss breaks down the Money-Printing Super Cycle and why it is sending Bitcoin to $1.28M (Nov 1 | 22:02 min watch).

• Peerbase releases the first episode of a new docuseries exploring the rise and challenges of startup societies, called The Network Society (Oct 31 | 20:27 min watch).

• David Marcus, co-founder and CEO of Lightspark (which recently unveiled a new Bitcoin L2 called Spark), delivers a keynote address at the Lightspark Sync conference (Oct 28 | 32:18 min watch).

• Jack Mallers, founder and CEO of Strike, explains why Bitcoin is the ‘currency of truth’ in podcast with Saifedean Ammous (Oct 30 | 1:34 min watch).

• Naomi Brockwell, host of NBTV, discusses the current state of global privacy legislation and strategies for the future of privacy around the world in an interview with Al Jazeera (Oct 16 | 7:21 min watch).

• Pubky, a new protocol for decentralised web applications, announces their Core Demo Week, showcasing innovative demo apps built with the Pubky Core protocol (Oct 26 | 1:02 min watch).

• Joe Nakamoto showcases his experiences as a 24-hour Bitcoin billionaire lifestyle on the Isle of Man (Oct 31 | 11:53 min watch).

• US Treasury sign on Janet Yellen’s dais falls as she is asked about the status of the US Dollar (Oct 28 | 0:12 min watch).

💥 MEME BREAK

Thank you for reading!

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Until our next transmission,

Naiw

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