Greetings Bitcoiner,

Welcome to issue #130 of the Bitcoin Breakdown, where we’re reminding you that Bitcoin isn't—and never was—intended as a conduit for greater dollar accumulation, but as a means by which you can escape the noise of a broken monetary system through a superior form of money.

We’re buying as much Bitcoin as we can before it hits $100k because, as more people make this discovery, more will demand it, and the dollar-to-Bitcoin exchange rate will continue to increase. Bitcoin has no top because perpetually debasing fiat has no bottom.

Happy readings! 👽️

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Personal Freedom Meets the Future of Finance

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The groundbreaking event brings together visionaries and thought leaders who are pushing the boundaries of finance, health, consciousness, and autonomy.

The organizers of the conference were kind enough to provide Bitcoin Breakdown subscribers with a 40% off code for general admissions tickets.

Use Code: btcbreakdown40

⚡️ QUICK BITS

• Satoshi Nakamoto's wealth surpasses $100B, making him the world’s 19th richest person as Bitcoin hits new all-time highs.

• US Senator Cynthia Lummis proposes a bill to sell US Federal Reserve gold to buy 1M BTC, increasing government reserves to roughly 5% of the total bitcoin supply.

• Bitcoin sets record with $8,300 daily gain, driven by post-election momentum and nearing $100,000 milestone.

• Bitcoin volatility destroys leveraged traders on both sides as it traded at both $85,000 and $90,000 this week.

• Pennsylvania considers a $700M bitcoin investment through a newly introduced Strategic Bitcoin Reserve Act.

• Rumors abound that Gulf petrostates Saudi Arabia, UAE, or Qatar might already be buying BTC at a sovereign level.

• Saudi Aramco surpassed by Bitcoin as the seventh-largest asset by market capitalization.

• ECB economists stealth edits and softens their initial aggressive anti-Bitcoin stance in their working paper concluding paragraph.

• HashKey CEO argues Trump's re-election would push China to reconsider its Bitcoin and crypto ban.

• El Salvador’s bitcoin holdings exceed $500M, while Bhutan’s bitcoin stash surpasses $1B, marking significant fiscal milestones for both nations.

• Bhutan sells $33.5M in Bitcoin on Thursday while still holding $1.1B in Bitcoin.

• Ethiopia generates $55M from bitcoin mining power deals as it leverages surplus hydropower and low energy costs.

• Germany misses out on $1.6B by selling 50,000 BTC before major price rally following US election.

• El Salvador boosts debt buybacks with bitcoin gains, aiming to repurchase over $2.5B in bonds amid market momentum.

• MicroStrategy increases its holdings to 279,420 BTC by purchasing an additional 27,200 BTC for $2B.

• Italy scales back its Bitcoin and crypto tax hike proposal to 28%, down from the initially planned 42%.

• David Bailey, CEO of Bitcoin Magazine, claims that an unnamed country has become a top five BTC holder.  

• Daniel Batten, Bitcoin ESG expert, claims that another nation state is considering a Bitcoin strategic reserve and drafting mining regulations to boost grid efficiency and monetize unused energy.

• Genius Group, a Singapore-based AI-powered education company, unveils Bitcoin-first treasury strategy, committing 90% of its reserves to Bitcoin.

• Odell Beckham dunks on critics who raised concerns about his decision to convert NFL salary to Bitcoin.

• BlackRock’s Bitcoin ETF outpaces its gold counterpart within 10 months amidst soaring investor demand and market highs.

• Gold’s correlation to Bitcoin hits 11-month low amid capital reallocation and Peter Schiff butthurt.

• Peter Schiff asks followers to mint his Ordinals after calling Bitcoin a bubble.

• Senator Lummis believes that the strategic reserve bill can be passed with bipartisan support in the first 100 days of Trump’s presidency.

• Bitcoin's market dominance rises to 61.39% on Thursday (inclusive of proof of stake sh!tcoins) - its highest since 2021.

• Environmental American persuaded by Daniel Batten to remove their ‘Bitcoin's purposeless power problem’-article following peer-reviewed rebuttals.

• Scott Bessent, the ‘very pro-crypto’ former Soros Fund Management investing chief, emerges as leading candidates for US Treasury Secretary.

• Howard Lutnick, CEO of Cantor Fitzgerald and a BTC holder, also considered for Treasury Secretary in the Trump administration.

• Pete Hegseth, a Bitcoin advocate, army veteran and Fox & Friends Weekend co-host, nominated by Trump to be Secretary of Defense.

• NYDIG's research head asserts Trump’s win and accessibility of bitcoin through regulated products, eliminate any excuse for investors to avoid bitcoin exposure.

• Trump’s pro-Bitcoin and crypto admin could accelerate LatAm adoption, says experts.

• New York Supreme Court overturns the state's denial of Greenidge Generation's Bitcoin mining permit renewal, ruling the environmental agency's decision was arbitrary and capricious.

• Coinbase surges to the top 10 in the US Apple App Store from 435th before the US election, reflecting renewed retail interest in BTC.

• Tezos co-founder says US support of Bitcoin and crypto means less regulatory ambiguity.

• 18 US states sue the SEC for unconstitutional overreach and unfair persecution of crypto industry under Gensler.

• SEC Chair Gary Gensler releases statement suggesting he may be leaving the SEC soon.

• Bitcoin futures suggest cautious bullish outlook as investors pay premium amid reduced overbought conditions.

• Tesla’s bitcoin holdings officially surpass $1B, as Tesla stock also surges.

• Body found in a Montreal park of kidnapped 25 y/o crypto influencer who had been missing since late June.

• Metaplanet, dubbed ‘Asia's MicroStrategy,’ discloses a $28M gain on its bitcoin holdings, significantly exceeding its initial market capitalization.

• Bitfinex Hacker who stole and laundered roughly $1B in bitcoin sentenced to 5 years in prison.

• Protos shows how investing a $1,200 stimulus check in BTC at 2020 prices could have turned into $14,000 at current prices.

• Hackalajara, the first Bitcoin-focused hackathon in Guadalajara, Mexico, will take place from November 29th to December 1st, 2024, offering prizes totaling 0.013 BTC across three categories.

• Hive Digital expands Bitcoin mining with 6,500 new ASICs, boosting hashrate and efficiency as construction of its Paraguay facility begins.

• Arthur Hayes predicts rising US debt and inflation could propel Bitcoin to $1M as demand for limited assets grows.

• Trump's promise to make the US a bitcoin superpower could boost Nvidia stocks, says EMJ Capital founder Eric Jackson.

• Cory Klippsten, CEO of Swan Bitcoin, warns that Trump’s re-election could trigger a chaotic altcoin surge, potentially drawing liquidity away from Bitcoin.

• Tesla's Bitcoin holdings surpass $1B, leading to an 8% surge in its stock price after-hours, driven by Bitcoin's recent price increases.

• Neel Kashkari, a prominent Federal Reserve critic of Bitcoin and crypto, says he will now have an open mind despite his doubts about its ‘real-world utility.’

• Deutsche Bank highlights Bitcoin and crypto's influence on BRICS' financial infrastructure, emphasizing its potential in payments.

• Revolut expands its Bitcoin and crypto exchange to the EU across 30 countries, offering zero fees for limit orders.

• Nano Labs, a Nasdaq listed Chinese microchip company, now accepts bitcoin as payment.

• Nym Technologies unveils decentralized VPN claiming immunity to NSA interception, pioneering enhanced privacy over performance.

• Solidion Technology, a public-listed company, announces a strategic Bitcoin allocation for corporate strategy.

• Teachers Insurance and Annuity Association (together worth $1.4T) reports holding BTC through the Fidelity Bitcoin ETF.

• Thumzup Media Corporation's board approves up to $1M in Bitcoin purchases as a treasury reserve asset.

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🎥 QUICK MEDIA

• Get Based releases short documentary ‘What Is a Bitcoiner?’ together with the Orange Pill App exploring whether Bitcoin is a financial revolution or a cult by interviewing over 20 Bitcoin enthusiasts (Nov 12 | 23:40 min watch).

• Max Keiser, one of the earliest Bitcoin maximalists, reiterates that Bitcoin has no top because fiat money has no bottom (Nov 10 | 1:03 min watch).

• Samson Mow, CEO of JAN3, argues that any price under $100K for Bitcoin is still undervalued (Nov 13 | 1:50 min watch).

• Preston Pysh, Bitcoin investor and podcaster, speculates that BlackRock is likely the one putting pressure on Microsoft to put Bitcoin on the balance sheet (Nov 9 | 0:52 min watch).

• Joe Moglia, former TD Ameritrade CEO, believes Bitcoin's increasing Wall Street acceptance and reduced regulations under Trump mark a financial revolution (Nov 13 | 6:34 min watch).

• Lugano Plan B Forum finally publishes the much-awaited ossification debate between Jimmy Song and Jameson Lopp that happened at the conference (Nov 10 | 48:42 min watch).

• L33T GUY, a Bitcoin filmmaker, publishes a remake of the iconic Bitcoin Pump it Up video with a few AI surprises and easter eggs (Nov 6 | 2:32 min watch).

• Matthew Krater of Bitcoin University argues it's not too late to buy Bitcoin as its price will continue to rise indefinitely due to fiat currencies' inherent devaluation, comparing its potential to gold and real estate's market caps (Nov 14 | 7:44 min watch).

💥 MEME BREAK

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Until our next transmission,

Naiw

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