BTC Scarcity Alert: 9X More BTC Bought Than Mined So Far In 2025
OVERVIEW
Bitcoin Scarcity Alert: 9X More BTC Bought Than Mined in 2025 😱
Before we dive in, here’s today’s crypto market heatmap:
Source: Santiment
And here’s a look at crypto’s total market and altcoin market cap charts:
Source: TradingView
ON-CHAIN ANALYSIS
BTC Supply On Exchanges Approach Oct 2018 Levels 😱
Shouldn’t be a big surprise to anyone who’s been a regular reader of the Litepaper, but the amount of Bitcoin on crypto exchanges continues to drop. ⤵️
Amount of BTC on exchanges. Source: Santiment – Click to enlarge.
BTC held on crypto exchanges keeps dropping, currently sitting at just 1.42 million BTC. That might sound like plenty, but here’s the kicker:
Since January 2025, only about 39,500 BTC have been mined, while a massive 360,000 BTC have been snapped up by ETFs and corporate treasuries.
That’s nine times more Bitcoin being bought and hodled than freshly mined this year.
Supply shock incoming? 🤯
TECHCNIAL ANALYSIS
Well Hello Again Mr. Very Important Trendline 📈
It’s been fun watching this trendline on Bitcoin’s chart play out over the past 1+ year. We first looked at it in the April 2, 2024 Litepaper:
April 2, 2024 BTCUSD Weekly Chart – Click to enlarge.
And here’s what it looks like now:
BTCUSD Weekly Chart – Click to enlarge.
The last couple weeks have shown any push closer to that trendline has been met with strong resistance. If Bitcoin starts to gradually crawl higher and bears are unable or unwilling to flush it lower, look out for a big drive higher. 👀
BITCOIN
New Hampshire First State To Pass Bitcoin Reserve Into Law 🪩
The ‘First In The Nation’ State just became the first in the nation to have a signed law allowing for a BTC reserve. 👏
Gov. Ayotte’s X
New Hampshire’s Governor just signed into law HB 302 – which gives the State’s Treasurer the power to buy not just Bitcoin, but any other digital assets. And it’s not limited to just an ETF – the Treasurer can buy the real deal (up to 5%).
Interestingly, the digital assets can be sore in state-controlled wallets – not just with custodians (like Coinbase). 🧠
CRYPTO
Tari Network Goes Live, Brings Crypto Mining Back to the People 🫂
Tari Labs, led by Monero OGs Naveen Jain and Riccardo “fluffypony” Spagni, just flipped the switch on their long-awaited privacy-first Tari mainnet, designed to make crypto mining accessible again. ⚒️
Mining Tari – Click to enlarge.
Forget warehouse-sized rigs and power-sucking ASIC monsters – anyone with a Mac or PC can now download the Tari Universe app, jump into mining Tari tokens (XTM), and actually have fun doing it.
The Tari Universe app gamifies mining, visualizing each mined block as a new level added to a virtual tower, giving users full control to dial mining effort up or down whenever they want.
Personal anecdote: it’s just a visual of a bunch of blocks forming, not an actual game you get to interact with. I mean, you can select how much you want to kill your CPU to mine, but that’s about it.
Tari’s privacy defaults, powered by Mimblewimble, hide transaction amounts and addresses, meaning no one can spy on your financial history – making it ideal for anyone sick of surveillance and crypto’s “transparency” pitfalls.
With a massive 100,000 people already testing the app, Tari’s rollout could be the privacy upgrade the crypto community has been waiting for. 🔼
NEWS
Buffet Made An Argument For Crypto? 🤯
Warren Buffet is not fan of Bitcoin pr crypto, but during the Berkshire-Hathaway annual shareholder meeting on Saturday (May 3, 2025), he made some comments that have precious metal and crypto advocates smiling from ear to ear:
“… they (government) devalue at rates that are breathtaking and that’s continued – I mean people can study economics and you can have all kinds of arrangements but in the end, if you’ve got people that control the currency you can issue paper money or you can engage in clipping currencies like they used to do centuries ago.
There will always be people, it’s the nature of their job, I’m not singling them out as particularly evil or anything like, that but the natural course of government is to make the currency worth less overtime and that’s got important consequences and it’s very hard to build checks and balances into the system to keep that from happening.”
You can watch the full meeting from CNBC here.
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NEWS IN THREE SENTENCES
Crypto News 📰
🎤 Stellar CEO Drops Country-Rap Anthem to Mark Six-Year Anniversary (No, Really)
Denelle Dixon celebrated six years as Stellar’s CEO by turning her blockchain journey into a country-rap anthem with some AI-assisted swag – yes, you read that correctly. Drawing inspiration from a weekend at Stagecoach festival, Dixon served up a genre-bending banger that tells Stellar’s story, proving crypto can (maybe?) find rhythm beyond trading charts. Stellar.
🔥 Bitcoin Core Devs Want OP_RETURN Limit Gone
Bitcoin Core developers want to scrap the 80-byte limit on OP_RETURN data, claiming it’s outdated and ineffective since spammers bypass it anyway. While devs argue removing the cap will make Bitcoin’s ledger cleaner and discourage shady workarounds, critics – led by Samson Mow and Marty Bent – warn it’ll just open floodgates for more on-chain spam. TheBlock.
🏦 Tether CEO Predicts Europe’s Banks Heading for Epic Blow-Up
Paolo Ardoino, Tether’s CEO, just blasted the EU’s stablecoin rules, claiming they force issuers to park billions in uninsured bank accounts ready to implode at the first sign of trouble. According to Ardoino’s doomsday math, Europe’s banks are ticking time bombs that will blow up when stablecoin holders cash out even a fraction of their deposits. He calls it now: Europe is heading toward a Silicon Valley Bank-style apocalypse – and stablecoins could be the spark. TheDailyHODL.
⚖️ Samourai Wallet Lawyers Accuse Feds of Hiding Treasury Guidance
In a fresh twist, Samourai Wallet’s defense team accused federal prosecutors of burying key FinCEN guidance for over a year – guidance explicitly stating Samourai didn’t qualify as a money transmitter. Charged for running a “crypto mixer,” the wallet founders argue the concealed info proves they followed the law, demanding dismissal. Prosecutors now face an awkward choice: drop the charges or defend why they hid evidence from the jump. Crypto-Economy.
NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️
🔒 Fhenix Brings Fully Homomorphic Encryption to Arbitrum
Fhenix just dropped coFHE on Arbitrum, allowing devs to bake privacy into blockchain apps without decrypting sensitive data. Using Fully Homomorphic Encryption (FHE), transactions stay encrypted end-to-end – finally freeing DeFi from the embarrassing transparency of public blockchains. If you’re tired of the whole world knowing how much you YOLO’d on altcoins, Fhenix has your back. Arbitrum.
🗳️ Zcash Community Agrees: Decentralized Funding Stays
Zcash’s community just overwhelmingly voted to continue their decentralized funding model, prioritizing coinholder influence over protocol upgrades. This decision, reached via one of crypto’s most collaborative governance processes yet, sets the tone for Zcash’s next chapter of transparent, inclusive development. Zcash.
🏛️ Coinbase CEO to Congress: Pass Stablecoin Laws or Say Bye to $240B
Coinbase CEO Brian Armstrong just gave Congress a loud wake-up call, warning that without passing stablecoin legislation pronto, $240 billion in capital might head offshore. Armstrong wants swift approval of Senator Hagerty’s GENIUS Act and FIT21 to prevent U.S. crypto dominance from sliding into oblivion. Crypto-News.
NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦
🌉 Garden Launches BTC Bridge on Starknet: Now Bitcoin Can Actually Do Stuff
Garden just debuted its slick BTC-to-Starknet bridge, finally giving Bitcoin holders something better to do than stare at their wallets. Using ZK-rollups to bridge BTC into Ethereum’s L2, Garden slashes fees and speeds up trades, making DeFi accessible without giving Satoshi nightmares. StarkNet.
💡 Dusk Says Tokenization is Cute, But Native Issuance is the Real Game-Changer
While the finance world fangirls over tokenization, $DUSK.X ( ▲ 2.86% ) says slapping tokens onto legacy assets misses the point. Instead, they’re building fully compliant, natively issued financial instruments directly on-chain – think securities that actually behave like crypto should. It’s a bit like throwing away your flip phone for an iPhone moment, except for financial markets – and way more ambitious. Dusk Network.
🔐 Unichain Levels Up: Fair Transactions and MEV Protection Go Live
Unichain just dropped a major upgrade, using a Trusted Execution Environment (TEE) to eliminate front-running, mitigate MEV, and even prevent you from paying gas on failed transactions. Built by $UNI.X ( ▲ 1.0% ) and Flashbots, this upgrade turns blockchain transparency from a buzzword into reality, setting the stage for even faster, fairer DeFi. If you’re sick of bots sniping your trades, Unichain might finally have your back. Uniswap.
📈 Curve Finance Smashes $2B TVL as crvUSD and LlamaLend Explode
Curve’s steady drip of DeFi dominance proves once again that stablecoins aren’t boring. Curve just clocked another stellar month, hitting $2 billion TVL as the crvUSD stablecoin and LlamaLend markets ride a wave of surging demand. New basepools, strategic reserves, and juicy $OP.X ( ▼ 0.78% ) incentives on Optimism have traders buzzing, while ecosystem projects like Napier Finance saw their TVL quadruple in mere weeks. Curve Finance.
LINKS
Links That Don’t Suck 🔗
🕹️ Sui celebrates second anniversary with a tsunami of growth
🤦 House Democrats boycott crypto regulation hearing as tensions flare over Trump’s digital asset ties
🫵 Coinbase’s Brian Armstrong pushes GENIUS Act for stablecoins, warns of crypto risks
🎮️ Second GTA 6 trailer drops, Take-Two’s stock holds steady
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