Hodl Up! Your weekly crypto catch up: Week 21 '25
Blackrock buying up all the Bitcoin in the world, Netflix web series on FTX and the biggest Bitcoin conference of the year - everything we cover in this week's HODLUP!
The rate at which institutions have been buying Bitcoin is reaching a point where it might start becoming a problem - will retail be priced out? Will Bitcoin become an elite class asset?
Netflix has announced a web series about the entire FTX fiasco the very week when FTX has a $5B payout to the users.
The markets have finally come (kinda) crashing down and $ETH failed to hit $2,800 even in this recent push.
And finally, the biggest Bitcoin event of the year: Pakistan announcing a Bitcoin Strategic Reserve, Ross Ulbricht with his first public appearance and Eric Trump as always asking everyone to buy and crashing the market.
NOTE: NOTHING EVER MENTIONED IN ANY OF OUR CRYPTO TALK’s POSTS/NEWSLETTERS/CONTENT IS FINANCIAL ADVICE. ALWAYS DO YOUR OWN RESEARCH.
Will BlackRock Price Out Retail?
Bitcoin, once hailed as a decentralized revolution for the people, is entering a new era, one dominated by institutional giants like BlackRock. The cryptocurrency has recently reached new all-time highs. But as the price soars, an unsettling question is surfacing: is Bitcoin still a tool of financial freedom, or is it becoming just another asset class for the elite?
The surge in Bitcoin’s price has largely been driven by institutional demand. Major financial firms and investment funds are now pouring billions into Bitcoin, often through newly approved ETFs. This institutional influx brings legitimacy, deeper liquidity, and broader exposure to traditional markets. For many, this is a sign of Bitcoin's coming-of-age, a stamp of approval from Wall Street.
Yet this shift comes with consequences. The spirit of Bitcoin was built on decentralization, transparency, and financial equality. It was meant to give power back to individuals and offer an alternative to the control of centralized banks and governments. Now, with the biggest players on Wall Street accumulating massive Bitcoin positions, retail investors risk being priced out or reduced to passive spectators in a market they helped create.
There’s also a growing imbalance. Large transactions, often exceeding tens of millions of dollars, dominate the market, while smaller trades from retail buyers are declining. This shift suggests the market is being shaped more by institutional strategy than by grassroots enthusiasm. And if these powerful entities decide to offload their holdings during a downturn, retail investors could be left holding the bag.
Still, there is reason to celebrate. Bitcoin’s rise to new highs is a testament to its resilience and growing global relevance. Institutional adoption may be inevitable and perhaps even necessary, for long-term stability and acceptance in the financial mainstream.
However, as this transformation unfolds, the community must remain vigilant. It’s crucial to safeguard Bitcoin’s founding values. Tools like self-custody, peer-to-peer platforms, and education about decentralized finance can help ensure that Bitcoin remains open and accessible to all, not just the wealthy few.
As the saying goes - never sell your Bitcoin (unless you must).
Netflix To Bring FTX Drama
FTX is a name that has never been away from drama. Now, it is literally becoming that with Netflix announcing the new web series covering the rise and fall of the crypto giant.
The Altruists, a limited series dramatizing the rise and collapse of FTX and its controversial founder, Sam Bankman-Fried. Backed by Barack and Michelle Obama’s production company, Higher Ground, the eight-episode series promises a gripping look at ambition, idealism, and the dark side of financial disruption.
Leading the cast is Anthony Boyle as the eccentric and enigmatic Bankman-Fried, with Julia Garner portraying Caroline Ellison, the former CEO of Alameda Research and key figure in the FTX implosion.
According to Netflix, The Altruists will follow “two hyper-smart, ambitious young idealists who tried to remake the global financial system in the blink of an eye—only to seduce, coax, and tease each other into stealing $8 billion.” It’s a bold, dramatized take on a real-life scandal that rocked the cryptocurrency world.
FTX, once a $32 billion crypto exchange darling, crumbled in late 2022, triggering one of the industry’s largest ever fraud scandals. Bankman-Fried was later convicted on multiple fraud and conspiracy charges and sentenced to 25 years in prison. Ellison, who cooperated with prosecutors, pleaded guilty to similar charges.
As The Altruists prepares to enter the crowded field of FTX-inspired content—including projects from Apple, Amazon, and several documentary teams—the timing is poignant. On May 30, FTX began its second phase of creditor repayments, distributing over $2 billion via platforms like Kraken and BitGo. While a step toward restitution, with over $10 billion in total claims, the process remains far from complete.
Netflix has not yet announced a release date for The Altruists, but with a compelling cast, seasoned creative team, and real-world echoes still unfolding, the series is poised to captivate audiences hungry for a story that blurs the lines between genius, greed, and betrayal in the age of crypto. I am audiences.
PS: With all due respect, who chose Julia Garner to play Caroline? Is it just me or is it just unfair?
Bitcoin Conference ‘25
Nothing can top the Bitcoin Conference in 2024. That’s it, I said it. Donald Trump, the then presidential candidate had attended it days after being shot at. Go on, top that.
Still, it isn’t that this year was completely underwhelming - we had new faces like Ross Ulbricht (or is he the oldest face) and of course, as always, we had Michael Saylor saying Michael Saylor things.
1. Vice President JD Vance’s Surprise Appearance
One of the most talked-about moments came when Vice President JD Vance took the stage, making him the first sitting VP to speak at a Bitcoin conference. He didn’t hold back. Vance spoke passionately about Bitcoin’s role in protecting against inflation and central bank overreach. He even teased the idea of a national Bitcoin reserve and encouraged the crypto community to stay politically engaged. It was a clear signal that crypto is moving deeper into the political mainstream.
2. Ross Ulbricht’s Emotional Message
In one of the most emotional moments of the conference, Ross Ulbricht - recently pardoned after over a decade in prison, made his first public appearance. The founder of Silk Road expressed deep gratitude for the Bitcoin community’s support during his imprisonment. He spoke about the importance of decentralization as a path to freedom, and his heartfelt words left few dry eyes in the crowd.
3. Nigel Farage Wants a “Crypto Revolution” in the UK
British politician Nigel Farage made waves by announcing that Reform UK would push to make London the crypto capital of the world. His proposed policies included tax breaks for crypto investors and the creation of a national Bitcoin reserve. He even announced his party would start accepting crypto donations. Whether you love him or not, it was a bold move that got people talking.
4. Pakistan Embraces Bitcoin on a National Scale
Pakistan’s Minister of Crypto (yes, that’s a real title now) announced the country’s plan to establish a national Bitcoin reserve. Even more impressively, they’re allocating serious power resources—2,000 megawatts—to support mining and AI. It’s a massive leap forward for crypto adoption in emerging markets.
5. Michael Saylor’s Bitcoin Sermon
Michael Saylor, as always, delivered a fiery, inspirational talk about how Bitcoin isn’t just money, it’s a philosophy. Titled “21 Ways to Wealth,” his speech focused on how Bitcoin enables individuals to protect their freedom, build wealth, and resist financial censorship. Classic Saylor energy, and the crowd loved it.
A Look At The Markets
We saw a major major pullback yesterday as the market crashed from $3.39T to $3.52T just as Ethereum had started to show some promise, Idk if Ethereum is cursed or something.
Anyway, there are much bigger forces at play here so can’t really blame Ethereum.
Biggest Winner
LPT 0.00%↑ : Not gonna lie, I did not have much of an idea about this project before last week’s boom. But boom it did, moving to $463M mc with a 2x in the last day or so. Some news sources credit getting listed in Korea a reason.
Biggest Loser
$ai16z: The volatility with AI agents has been absolutely crazy this year, they are the winner of the week one day and an absolute loser the next. Unfortunately, a 35% drop in 7d has to make $ai16z our loser for the week.
Last week I hoped for Ethereum to do some magic which it could not. So I’ve decided this week I won’t wish for anything. Let whatever happens, be. STAY SAFU.