The Dypto Times - BTC Hits a New All-Time High!

Semler Scientific makes a huge BTC purchase, The DOJ shuts down crypto scammers with Tether’s help, and BTC hit a new ATH this week!

What a great week to be alive. The government and crypto companies are shutting down fraudsters. BTC hit a new and very juicy all-time high, and the mighty Bitcoin Treasury Companies are the buying machines that are too legit to quit.

It was a busy week in crypto. So, let’s get after it.

From the Dypto Crypto Newsroom

Semler Scientific Crosses 4,000 Bitcoin Milestone

TLDR

  • Semler Scientific is a Bitcoin Treasury Company and healthcare innovator.

  • The company now owns more than 4,000 BTC.

  • It is ranked 13th for publicly traded treasury businesses.

You guys know Strategy. MetaPlanet. Mara Holdings. Cleanspark. But what about Semler Scientific? While the most popular names in the “publicly-traded companies that love BTC as much as we do” list (we just made that up) always make the headlines, it’s easy to forget they aren’t the only ones buying up digital gold.

Semler Scientific, a Nasdaq-listed healthcare technology company, has now firmly positioned itself as a notable corporate Bitcoin holder. With its latest acquisition of 455 BTC for $50 million, the company’s Bitcoin assets have surged to a total of 4,264 BTC. 

The purchase is part of Semler Scientific’s wider financial strategy to safeguard shareholder value and leverage the potential long-term benefits of Bitcoin.

Semler Scientific is betting on the big picture.

Semler Scientific’s increasing Bitcoin holdings exemplify the ongoing wave of corporate cryptocurrency adoption. Positioned as an unusual but forward-thinking healthcare company, its Bitcoin treasury strategy has already set it apart. 

This milestone of surpassing 4,000 BTC underscores the company’s commitment to implementing a long-term approach. 

With its combination of healthcare expertise and financial innovation, Semler’s story serves as a reminder that Bitcoin’s use case continues to expand beyond tech and finance into new, uncharted sectors.

DOJ Seizes Nearly $1 Million in Crypto With Tether’s Help

TLDR

  • The DOJ seized over $800,000 recently as part of investigations into a crypto pig butching scam operation.

  • In the press release, Tether was thanked for its help.

  • As crypto regulation continues to evolve, it will be increasingly necessary for authorities and protocols to keep working together to protect users.

The United States Department of Justice (DOJ) has announced the seizure of over $868,000 worth of cryptocurrency to combat crypto fraud. 

The operation, executed with the help of Tether, highlights the rising threat of confidence schemes and the DOJ’s ongoing efforts to protect victims from sophisticated scams. 

Be aware and be prepared.

The DOJ’s investigation is an important reminder of the scale and sophistication of scams occurring within the industry. While millions of users around the world benefit from decentralization, the lack of regulatory safeguards does create opportunities for bad actors.

The case also demonstrates the necessity of partnerships between private platforms and public institutions. Tether’s willingness to assist law enforcement shows a growing recognition in the industry of its role in preventing and addressing fraud. We applaud your efforts, Tether. Keep up the great work.

Bitcoin Hits a New All-Time High

TLDR

  • Bitcoin hit a new record high on Wednesday, May 21st. Update - It continued rising after writing this article, eventually reaching another all-time high of $111k before correcting.

  • It became the fifth-largest asset by market cap, reaching $2.13 trillion.

  • After falling to under $75k in just six weeks ago, the rebound has been a breath of fresh air for BTC bulls.

Bitcoin reached a new milestone Today, briefly climbing to just under $110,000. This marks a huge rebound from April’s low of $74,434 and highlights the cryptocurrency market’s volatility and potential. 

The changing face of Bitcoin adoption.

Bitcoin’s ability to weather economic uncertainty isn’t just attracting retail investors. Traditional financial institutions that once dismissed Bitcoin are shifting their stance. From Mastercard offering crypto payment integrations to fund managers adding Bitcoin to their portfolios, the path for broader adoption has never been clearer.

With Bitcoin merging further into traditional finance, new retail platforms are emerging that make it easier for beginners to get started. These user-friendly tools are reducing barriers, giving more people access to an asset once considered niche and esoteric.

Question of the Week

"What happens when Bitcoin hits its 21 million coin limit? Is there anything preventing them from just creating more?"

Meme of the Week

Deep Dive - This Week in Crypto Regulation

1. The Texas House of Representatives made headlines by passing S.B. 21, a bill that will establish a strategic Bitcoin reserve for the state. Following a 101-42 vote, the legislation now heads to Governor Greg Abbott’s desk for approval or veto.

S.B. 21 proposes the creation of a reserve fund managed by the state comptroller. The bill allows Texas to invest in cryptocurrencies with a market cap exceeding $500 billion over the last 12 months, a category currently exclusive to Bitcoin (for now). 

2. Trading platform Robinhood submitted a comprehensive 42-page proposal (Allegedly. We could only find a 9-page letter that was posted on the government website.) to the U.S. Securities and Exchange Commission (SEC). The goal? To establish a national framework for regulating tokenized real-world assets (RWAs).

Robinhood’s plans include launching a Real World Asset Exchange (RRE) platform, which would combine off-chain trade matching with on-chain settlements to enhance both efficiency and transparency. Essentially, they want to create a brand new financial market. 

3. The US Senate (finally) advanced the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). This bill, designed to regulate the $250 billion stablecoin market, cleared a crucial procedural vote with a 66-32 majority.

Republican Senator Cynthia Lummis, one of the bill’s sponsors, has expressed confidence that the GENIUS Act could be passed by next week. If adopted, the bill could stabilize the market and reduce risks for investors, providing much-needed oversight to a largely unregulated asset class.

Question of the Week Answer

First things first, let's understand why there is a 21 million coin limit in the first place. When Bitcoin was created in 2009, its founder(s) set a maximum supply of 21 million coins that could ever exist. This decision was based on the belief that scarcity would increase the value of each coin over time.

As for what happens when we reach this limit in the year 2140, well... nothing much really. The Bitcoin network will continue to operate and process transactions just as it does now. However, miners will no longer receive block rewards for their work in validating transactions, which is currently the main incentive for mining.

Some people argue that this could lead to a decline in network security, as miners may not have sufficient incentive to continue mining without receiving block rewards. But others believe that transaction fees alone could be enough to sustain the network's security. Given the current price of BTC and the millions of dollars it could be worth in over one hundred years, the transaction could likely be pretty substantial.

Now, what about coin creation? Technically, yes. It could be a thing. However, it would require a significant change in consensus rules and would result in a hard fork, leading to a split in the Bitcoin blockchain. These forks already exist for Bitcoin and Ethereum. And no one really cares about them…

Closing Shenanigans

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