8-14-2025
The U.S. Treasury’s refusal to buy more Bitcoin, PPI-driven market declines, Google Play’s crypto wallet policy updates, Block’s new modular mining hardware, and fresh Bitcoin regulations from Cheeseland (Wisconsin).
Big news out of the U.S. Treasury. Scott Bessent went on Fox Business and flat-out said the government isn’t going to buy any more Bitcoin for the strategic reserve. They’ll keep what they’ve got, but there’s no expansion coming. This came less than 24 hours after we hit a new all-time high north of $124K, and, sure enough, the price dumped under $119K almost immediately.
But that wasn’t the only reason we slid. The July Producer Price Index numbers came in hotter than a two-dollar pistol - 3.3% year over year versus 2.5% expected. Core PPI popped 0.9% in one month. That spooked markets across the board. Bond yields jumped as treasuries sold off, and the idea of a September rate cut? Gone. My gut tells me the Fed’s going to sit tight for a while, maybe longer than anyone’s comfortable with, which probably means we’re in for some sideways chop in Bitcoin.
From there, we go over to Google Play’s latest policy update for 'crypto' wallets. They’re going to start requiring custodial wallet apps to get the right licenses for each jurisdiction—MiCA in the EU, FCA in the UK, FinCEN here in the States. For now, noncustodial wallets are “out of scope”. But let’s be honest: if you think this isn’t going to creep into self-custody land eventually, you’re dreaming. This is the danger when two companies, Apple and Google, control where most people get their apps. All it takes is one policy change, and the sovereign tech you rely on disappears for the average user overnight.
Then we got into something that actually made me excited. Block’s new ProtoRig modular mining system and ProtoFleet management software dropped. ProtoRig’s got swappable hash boards, backward compatibility, and power density that blows the old models away. One and a half times more efficiency per foot of rack space. Instead of throwing away a whole unit every 3–5 years, you keep the chassis, keep the power supply, and just swap boards. Less waste, less downtime, and potentially a ten-year service life. ProtoFleet ties it all together with free, open-source software that lets miners manage, monitor, and fix their rigs faster. Could be a game changer for sure.
On the regulation front, Kazakhstan rolled out Central Asia’s first spot Bitcoin ETF, and Wisconsin is looking to smother its Bitcoin ATM market with KYC requirements, low transaction limits, and licensing hurdles. BTC Turk over in Turkey had to freeze deposits and withdrawals after a $48 million hot wallet hit. And the FBI’s warning people about fake law firms targeting scam victims - because if you’ve already been burned, apparently there’s a second round of crooks waiting to pick your bones clean.
Macro moves, policy shifts, tech breakthroughs, and the constant drumbeat of regulation, it'a all in today's episode of Bitcoin And. Whether it’s the Treasury backing off Bitcoin buys, Block changing the way we think about mining hardware, or another jurisdiction trying to fence in Bitcoin use, the story is the same: we have to constantly pay attention.
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