In partnership with
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Bitcoin
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Affairs
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No. 058 · 23 Jul 2026
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MARKET SNAPSHOT
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BTC / USD
$65,052
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24H CHANGE
-1.4%
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ALL-TIME HIGH
$124,749
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FROM ATH
-47.9%
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In a gold rush, sell shovels. Every SpaceX launch runs on parts from public companies trading far below the IPO hype. See the 3 picks our analyst named. Get the Free Report.
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US Issues Worldwide Caution as Middle East Tensions Renew Energy Risk
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The State Department on July 22 told Americans worldwide to exercise increased caution because of heightened Middle East tensions, with potential flight cancellations, airspace closures and broader escalation risk. For Bitcoin markets, the warning reinforces a live geopolitical channel into oil, inflation expectations and overall risk sentiment.
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| Geopolitics Macro |
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Trump Team Prepares New Tariff Wave, Reopening Macro Inflation Questions
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Reuters reported on July 22 that the Trump administration is preparing a new wave of tariffs on dozens of trading partners. Even if markets react less violently than in earlier rounds, the move would keep trade-driven inflation and growth uncertainty in the foreground ahead of the next Fed meeting.
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| Macro Geopolitics |
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US Spot Bitcoin ETFs Extend Inflow Streak With Modest July 22 Gains
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US spot bitcoin ETFs posted a combined $69.1 million of net inflows for July 22, extending the current positive run to seven sessions. BlackRock's IBIT and Fidelity's FBTC stayed in the green while Grayscale's GBTC remained a drag, suggesting institutional demand is still supportive but no longer accelerating.
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COMMENTARY
VOICE FROM THE NETWORK
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Don't Buy SpaceX Stock. Buy These 3 Instead.
The biggest IPO in history is live — $1.75T valuation, $135 open, $75B raised. And history says the retail investors who chase day-one hype are the ones who get burned.
The SpaceX run created thousands of new millionaires. But it wasn't the people buying at the open. It was the ones positioned early, in the names set to ride the wave.
Our analyst pinpointed 3 stocks positioned to ride the SpaceX wave — with entry guidance and price targets, a bonus 4th pick (the most undervalued name in the sector), and a 3-phase playbook for when to buy and when to sell.
Bitcoin is outperforming Gold by 10% this month.
Historically, this has been a strong accumulation zone. https://t.co/s0N4XUduC9
223 reposts 193 replies 1.4K likes
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Today nine institutions including BlackRock, Fidelity, Coinbase, and Strategy announced the Bitcoin Security Consortium (@BTCconsortium), pledging $15M toward Bitcoin security work over the next three years. I've agreed to help coordinate the group's work as a volunteer.
I said yes because supporting Bitcoin's developers and helping people understand their work are the two things I've spent my time in Bitcoin on, through Brink and Optech. This group wants to do both: fund the people already securing Bitcoin, and bring accurate information about that work to audiences it doesn't currently reach.
The group's first focus is quantum computing, a potential long-term threat that's reasonable to prepare for. Its true that a sufficiently powerful quantum computer would break Bitcoin's current signatures. What's usually wrong are the loudest "imminent doom" voices. The development community is already working on this.
These institutions want to help. I know exactly how "nine giant institutions form a group to 'help' Bitcoin" sounds, I had the same reaction. So before accepting, I spoke one-on-one with each company about their values and priorities, to judge whether this would actually be a productive initiative for Bitcoin. Two things mattered most to me, and I found the members already aligned on both:
- No pooled funding. Each member company funds who they choose, independently. The Consortium doesn't hold funds or pick recipients.
- No Consortium positions on protocol changes. Members speak for themselves.
I'm a volunteer, receiving no compensation from the Consortium. I continue to run Brink, independent of any Consortium member. I've committed to a year in this role, maybe I'd do two, but ultimately I see it as a seat that should rotate to other participants over time. My commitment is to Bitcoin, and that doesn't change.
My hope is that this effort results in more funding reaching more developers/researchers, on their own terms, and a measured counterweight to quantum panic, in both directions (no doomerism, but also no dismissal). Quantum is the first focus, but if this group works the way I think it can, there's room to support other security efforts down the road too.
More about the Consortium: https://t.co/BBjsalpm4J
I expect plenty of skepticism. Ask me anything.
67 reposts 80 replies 429 likes
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We’re proud to announce the launch of the Bitcoin Security Consortium, in partnership with BlackRock, Fidelity, Block, and more.
Together we’ll support the long-term security of the Bitcoin network.
Quantum computing is coming. Crypto needs to be ready. https://t.co/T792xvP7jj
74 reposts 65 replies 508 likes
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🚨 JAPAN IS ENTERING ONE OF THE MOST DANGEROUS ECONOMIC PHASES IN DECADES.
The Bank of Japan is now open to raising interest rates faster than markets expected.
That may sound like a normal central bank decision, but it isn't.
Japan's economy is trapped between three problems that are getting worse at the same time.
First, the yen has fallen above ¥163 per dollar, its weakest level since 1986. A weaker yen makes imports like energy, food, and raw materials more expensive, pushing inflation even higher.
Second, Japan's government debt has climbed to around 240% of GDP, the highest in the developed world.
Every rate hike increases the government's borrowing costs, making that debt even harder to manage.
Third, the government's attempts to stop the yen are becoming less effective.
Japan spent a record ¥11.73 trillion ($73 billion) defending its currency earlier this year, yet the yen quickly resumed its decline. Markets are starting to believe intervention alone is no longer enough.
That leaves the BOJ with two difficult choices.
Raise rates faster, risking more stress in Japan's bond market and higher debt-servicing costs.
Or keep rates low, allowing the yen to weaken further and inflation to become more deeply embedded in the economy.
Neither outcome is good.
Markets already see a 72% probability of another rate hike by October, and it matters far beyond Japan.
For decades, ultra-low Japanese interest rates have funded the yen carry trade, which has grown to over $4 Trillion,
The last time the BOJ unexpectedly tightened policy in August 2024, that trade started to unwind.
Within just three days:
• Nikkei fell 19%.
• S&P 500 fell 8%.
• Bitcoin fell 24%.
If the BOJ is forced to move faster again while investors remain heavily exposed to the carry trade, the next shock will not start in the US; it'll start in Japan.
149 reposts 77 replies 771 likes
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Bitcoin has traded at a higher MVRV 95% of its history
Let that sink in
The market is pricing Bitcoin as if it’s one of the cheapest points in its lifetime https://t.co/g1TCicz2fB
16 reposts 11 replies 156 likes
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JUST IN: Michael Saylor’s ‘Strategy’ launches Bitcoin Security Consortium with BlackRock, Coinbase and others, pledging $15 million over 3 years. https://t.co/qZZwE073uG
25 reposts 35 replies 274 likes
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