Bitcoin’s price action may be leaving some people disillusioned, but if you’re paying attention to global headlines, Bitcoin has never played a bigger role on the world stage.
After reports emerged of an insurance program paid in Bitcoin to the Iranian government for safe passage through the Strait of Hormuz, Iran’s social media propaganda arm even released a LEGO-style AI animation celebrating it.
Then came renewed signals from Washington D.C. that Bitcoin is being taken more seriously than ever, with a major bipartisan push to codify the Strategic Bitcoin Reserve into law alongside an astounding number of co-sponsors.
Don’t get shaken out while the world’s power players are signaling that Bitcoin is being deeply ingrained into worldwide geopolitics.
Other top stories from the week include:
Sparrow Wallet is making Bitcoin privacy accessible to everyone.
EU investigators expose a massive Bitcoin Ordinals tax fraud scheme.
Elon shocks markets as SpaceX holds more Bitcoin than Coinbase.
Latest News
Adoption
Iranian state-linked social media accounts are circulating LEGO-style AI music videos promoting Bitcoin payments for Strait of Hormuz transit tolls amid escalating regional tensions.
Sparrow Wallet adds Silent Payments receiving, allowing users to reuse one Bitcoin address forever while every incoming payment lands at a unique hidden address, dramatically improving on-chain privacy.
Bitkit, the Korean Bitcoin hardware company, unveils a new SeedSigner design disguised as a Dino Jump handheld gaming console, giving users stealthier physical OPSEC for storing Bitcoin signing devices.
Regulation
Prime Trust’s estate sues Strike, alleging the company withdrew nearly $29.5M and 1,939 BTC before bankruptcy after allegedly learning of insolvency risks and regulatory pressure ahead of collapse.
Italian investigators uncovered a €1 million Bitcoin Ordinals tax-fraud scheme, tracing BRC-20 profits through pseudonymous wallets until Chainalysis Reactor revealed the suspect’s identity.
Binance allegedly processed $850M for an Iranian sanctions-evasion network tied to financier Babak Zanjani despite repeated internal compliance flags. Binance denies the allegations.
Markets
SEC approves Nasdaq to list cash-settled Bitcoin index options tied to the Nasdaq Bitcoin Index, moving regulated Bitcoin derivatives closer to mainstream US equity markets pending final CFTC approval.
Australia cracks down on Bitcoin as Strike suspends AUD services and Binance imposes stricter transfer surveillance rules, requiring sender and beneficiary information for all crypto deposits and withdrawals.
Bitcoin Depot files for Chapter 11 bankruptcy and shuts down its nationwide Bitcoin ATM network, citing mounting regulatory pressure, lawsuits, stricter compliance rules, and growing state-level restrictions.
Treasury
NAKA announces a 1-for-40 reverse stock split to regain Nasdaq compliance after shares traded below the exchange’s $1 minimum listing requirement for an extended period.
Thirteen of the top fifteen institutional holders of Strategy increased their positions in Q1 2026, with combined holdings rising 27% led by Vanguard, BlackRock, State Street, UBS, and Capital Group.
Elon Musk’s SpaceX discloses holding 18,712 BTC worth over $1.4B, making it the seventh largest public corporate Bitcoin treasury, ahead of Coinbase’s 16,492 BTC holdings.
Mining
OCEAN has become a top-8 Bitcoin mining pool with a 33 EH/s hashrate as miners adopt self-built block templates, Lightning payouts, and direct Coinbase payouts for large operators.
Leopold Aschenbrenner’s latest 13F reveals major investments in Bitcoin miners pivoting into AI infrastructure, including a new stake in Hive Digital and a 650% increase in his CleanSpark position.
Riot, Bitdeer, and MARA all expanded realized hashrate during the quarter, with Bitdeer surpassing 50 EH/s as major miners continued scaling Bitcoin operations alongside growing AI and HPC initiatives.
Politics
Congressman Nick Begich introduces the bipartisan ARMA Act to create a Strategic Bitcoin Reserve, requiring quarterly proof-of-reserve reports, and long-term Treasury management of federal Bitcoin holdings.
FOX News reports on Iran accepting Bitcoin for Strait of Hormuz passage, warning the Trump administration could pressure crypto exchanges by threatening to cut them off from the US banking system.
Minnesota signs legislation allowing state-chartered banks and credit unions to offer crypto custody services starting August 2026, while simultaneously moving to ban crypto ATMs statewide by year’s end.
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Bam’s 2 Sats
Someone Is Always Taking the Other Side
Bitcoin had one of those weeks where, on the surface, everything looked weak.
Spot ETFs recorded roughly $1B in outflows, marking the largest week of selling since the $60K bottom. Miners, once seen as natural Bitcoin accumulators, are no longer operating with that singular focus either. More attention is shifting toward AI infrastructure, power contracts, and new ways to monetize the energy assets they already control.
Then came the Trump Media wallet transfers.
Another large move to Crypto.com, an estimated unrealized loss in the hundreds of millions, and suddenly the market had a fresh reason to fear another painful stretch ahead.
This is usually the point where sentiment turns fearful and lazy.
People see selling and assume something is breaking. They see coins moving to exchanges and assume the thesis has changed. They see miners diversifying into new business models and conclude that even Bitcoin-native companies are losing conviction.
But Bitcoin has always been a story of distribution. Coins constantly move from the skittish to the deeply convicted.
While the market focused on ETF outflows, miner pivots, and political uncertainty, Strategy acquired nearly 25,000 BTC. Strive continued accumulating through its preferred share machine. SpaceX disclosed a position large enough to rank among the top 10 corporate Bitcoin holders.
All of these are long-term vehicles absorbing supply while the market complains about sideways price action.
Bitcoin has been trapped in a frustrating range, and nearly every Friday night macro headline out of Washington seems to hit when liquidity is thin and nerves are already stretched.
ETF flows matter. Miner behavior matters. Treasury selling matters. But none of it changes the underlying reality.
There will always be sellers, and there will always be buyers on the other side. The difference now is that institutional participation is making parts of this redistribution easier to see in real time.
Bitcoin is not disappearing into panic selling. It is being redistributed, as it always has been, while the pool of buyers of last resort appears to be growing.
So let’s not confuse volatility with Bitcoin failing. At the end of the day, there will only ever be 21 million.
Keep building. Keep stacking.
- Bam
