Hey all,
I’m Rizzo, the Bitcoin Historian. For more than a decade I’ve been documenting Bitcoin’s evolution — the people, ideas, companies, and moments that shaped it.
I spend every day tracking what’s shaping Bitcoin. This newsletter connects the dots.
Each edition highlights the stories, signals, and historical context you need to understand what’s happening in Bitcoin right now. And where it may be headed next.
🎙 FEATURE INTERVIEW
STRC’S iPHONE MOMENT ARRIVES
Michael Saylor’s $STRC is suddenly the talk of Bitcoin – but few are as well-versed into its intricacies and impacts as Strive Chief Strategy Officer Avik Roy.
In this feature episode, Roy and Rizzo connect Saylor’s strategy to a broader “Bitcoin credit supercycle,” in which banks, brokers, and asset managers increasingly earn fees by building products on top of Bitcoin’s balance‑sheet strength. They dig into why STRC’s dollar‑pegged, yield‑bearing profile may end up competing with stablecoins and even treasuries for capital, and how that could shift big banks from fighting Bitcoin in Washington to profiting from it in the bond market. The result is a roadmap for how Bitcoin could move from a fringe macro hedge to prime collateral at the core of corporate and sovereign finance.
→ Subscribe to see Rizzo’s latest interviews dropping weekly on YouTube.
⚡ THE SIGNAL
$5 BILLION BITWISE SAID CENTRAL BANKS ARE BUYING BITCOIN
Legendary cypherpunk Adam Back said this week that his company BSTR expects to purchase up to 20,000 Bitcoin, positioning itself to challenge Marathon as the second-largest corporate holder globally.
Importantly, Back predicted the market impact will be "bullish" as Bitcoin treasury companies shift from weekly purchases to buying "all day long and even at pre and after market" hours. The comment signals a new era of continuous corporate accumulation that could soon exceed daily mining supply by tenfold, creating sustained buying pressure unlike anything the market has seen.
What happens when treasury buying never stops? Find out in this video.
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$25 TRILLION U.S. BANKING INDUSTRY CEO DECLARES WAR ON BITCOIN MARKET STRUCTURE
The CEO of the American Bankers Association told thousands of bankers this week the industry will not support market structure legislation that creates "an uneven playing field," warning that new entrants don't want to "follow the rules" and declaring "we can't let that happen."
The comments signal the banking lobby's escalating opposition to the Clarity Act as negotiations stall over stablecoin reward provisions. With the ABA representing $25 trillion in assets, the statement marks the most direct public threat yet to the legislation's passage, raising questions about whether Trump can force a compromise before the midterm deadline.
🔥 BITCOIN DEVELOPERS TAKE $100 BILLION SHOT AT ETHEREUM
In Part 2 of my OP_NET interview, I sit down with co-founder Danny Plainview to map out what happens once full smart contracts go live on Bitcoin Layer 1 this week and why that could unlock a wave of Ethereum-class applications — from native stablecoins and AMMs to on-chain lending.
The conversation tackles fees, incentives, and why OP_NET isn't issuing a gas token.
OP_NET is now an official media sponsor of The Bitcoin Historian. Learn more at OP_NET: opnet.org
📈 MORE NEWS
$287 BILLION RIC EDELMAN RECKONS BTC WILL DRAMATICALLY OUTPERFORM EVERYTHING
Ric Edelman, whose firm manages $287 billion for 1.3 million clients, told CNBC this week that Bitcoin will deliver up to tenfold returns over the next decade, while every other financial asset watches from the sideline.
"If you loved it at $126,000, you have to be ecstatic about it at $70,000," Edelman said. "Less than 5% of the world owns Bitcoin. If you look at other asset classes — stocks, bonds, real estate, oil, precious metals — the adoption rate is dramatically higher."
$5 TRILLION NVIDIA-BACKED STARCLOUD CEO SAYS HIS COMPANY WILL BE MINING BITCOIN IN OUTER SPACE WITHIN THE YEAR
StarCloud CEO told an interviewer this week the company will launch Bitcoin mining ASICs aboard its second spacecraft later this year, making it "the first to mine a coin in space." The CEO explained that Bitcoin mining is one of the most compelling use cases for space compute because ASICs cost roughly $1,000 per kilowatt compared to $30,000 for GPUs, allowing the company to pack spacecraft more densely with cheaper hardware.
The development adds a new frontier to Bitcoin's decentralization thesis, potentially creating an entirely new industry for space-based proof-of-work mining beyond Earth's regulatory and energy constraints.
🏦 TREASURY WATCH
Strategy Inc. (MSTR) set a record that may never be broken: its STRC preferred stock program raised approximately $283 million in a single trading day on March 12 — enough to purchase 4,038 Bitcoin and marking the first time the program crossed the 4,000 BTC threshold in one session.
The explosive performance extends STRC's streak to nine consecutive days of at-the-market issuance, with the week's total now exceeding 10,000 BTC funded — roughly $710 million in proceeds.
Real-time trackers like strc.bitcointreasuries.net now show the preferred stock sales translating directly into Bitcoin buying power, with nearly 1,000 BTC purchased from STRC proceeds alone at press time.
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