🌊 Saturday Bitcoin Flows

• Senator Cynthia Lummis was interviewed on Fox Business and laid out her three-point Bitcoin agenda.

• Natalie Brunnell was also interviewed on Fox Business, where she described Bitcoin as “the bridge between chaos and hope.”

• Spiral — the Bitcoin company inside Block that funds open-source Bitcoin development — released their Quarterly Update, announcing all kinds of cool Bitcoin projects.

• Flexport CEO Ryan Peterson details a ongoing wild story about Chicago motor carriers holding cargo hostage for ransom payments, in what appears to be a brazen “organized crime” operation.

• Andrew Singer at Cointelegraph explains how the Supreme Court’s recent decision to overrule the Chevron doctrine could “change the game” for crypto companies.

• Jash Dholani explores ten concepts from Ancient Rome that help explain the modern world. The Polybius Warning is particularly ominous given current birth-rate trends…

• Bitwise published their Q2 Crypto Market Review, in which they characterize this quarter as “The Dog Days of the Crypto Bull Market.” Which is a nice way of saying: it kind of sucked.

• Charles Gasparino at the New York Post breaks down the three-way race to succeed Jamie Dimon as CEO of JP Morgan.

Hey Whales, you okay?

I can’t tell you know’s definitely not okay: Germany. Fifty-thousand beautiful bitcoins, their entire stash, gone in just a few short weeks. But it’s all over now. No more suffering. At least until the price goes up again; then the pain really starts.

Nothing better than a chart full of green to close out the week.

🥇BlackRock

BlackRock finished off a wild week with another huge haul, bringing in 2076 BTC ($120m)

🥈Fidelity

Fidelity was right behind them, snagging 2020 BTC of their own ($115m).

🥉 Bitwise

Bitwise fought right to the finish as well, with inflows of 485 BTC ($28.4m).

🧮 Total

A massive inflow Friday, of 5360 BTC ($311m). Honorable mention to Grayscale, who have some life in them yet: securing inflows of 399 BTC ($23m). And Ark had a tidy Friday too, with 224 BTC ($13m).

🧮 Weekly Summary

Huge week overall. Net inflows of 17.5k BTC ($1 billion!). It was the second biggest week since March. And brought the total net inflows to a new all-time high of just under 270k total.

And here we can see who had the best weeks individually. No surprises, BlackRock at the top with 9k BTC, then Fidelity with 6.2k.

Data compiled from MyLifeBar shows the years of life gained per hour of physical activity done weekly, for a number of different exercises.

Nothing too outrageous in there, although I’m skeptical about the apparently quite severe diminishing returns. And I’m going to assume that the ‘Boxing’ here doesn’t actually involve getting punched in the head.

But what I’d like to see is a version of this chart, showing how many years of life you lose by trading different cryptocurrencies.

Sometimes I feel like Bitcoin alone has cost me a couple. I can only imagine what XRP and Cardano holders feel like. And if we could quantify the bodily harm done by NFTs on a weekly basis, I think the WHO might declare a global health crisis.

Those are the Flows this Saturday.

Thanks for reading, and I’ll see you next week.

— Julian