Dan Held
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Articles by Dan Held
Bitcoin: 4000 BTC Moved From Liquid Network
Analysis Bitcoin saw roughly 4000 BTC exit the Liquid Network bridge in a single transaction carrying the OP Return message "we are whitehats. contact us on chain," according to on-chain data shared by Rob Hamilton and amplified by Dan Held.
BTCPay Server: Vulnerability Forces 2.4.2 Update
BTCPay Server (@BtcpayServer) warns of active exploit risking funds; upgrade to 2.4.2 immediately or shut down instance. BTC trades at $64829 amid bullish EMA structure. Source Analysis BTCPay Server faces an actively exploited critical vulnerability that can drain funds, prompting an urgent update to version 2.4.2 via the Admin Dashboard maintenance path, according to the project's official advisory shared by Dan Held.
Bitcoin: Dan Held Flags Maximum Pain Path
Analysis Bitcoin selloff continues as Dan Held declares the path of maximum pain, where survivors claim the HODLer title amid ongoing pressure. Price sits at $62461.81 inside the Bollinger band with lower support at $62409.97, while the bearish EMA50 at $63942.95 and EMA200 at $68223.75 act as concrete resistance; the MACD death cross at -319.27 combined with RSI at 35.56 signals exhaustion that favors a test of lower volatility bands before any rebound.
Illinois: Pritzker Signs 0.2% Crypto Tax Law
Illinois Governor Pritzker enacted a 0.2% tax on crypto transactions including personal wallet transfers, deemed the nation's most punitive digital asset tax. Source Analysis Illinois Governor Pritzker signed a 0.2% tax on crypto transactions into law, applying even to transfers between personal wallets.
Bitcoin: 2013 $1K Dinner Now Worth $750K
Analysis Bitcoin veteran Dan Held highlighted how a 2013 reporter spent 10 BTC worth $1000 on a meetup dinner that today equals $750000, reinforcing the case for long-term holding as price sits at $73894.73 inside Bollinger bands with upper resistance at $75308.92.
Bitcoin: Undervalued at $1.5T
Analysis Crypto veteran Dan Held slams Bitcoin's valuation, pegging its market cap at $1.5 trillion versus gold's towering $34 trillion and the stock market's $140 trillion. This stark contrast underscores BTC's potential upside, especially as institutional inflows ramp up in 2026, echoing the explosive growth seen in last year's crypto market surge. Traders eye this disparity for BTC price prediction plays, betting on convergence with traditional assets amid ongoing crypto market volatility.
Czech National Bank: Boosts Returns with 1% BTC
Analysis The Governor of the Czech National Bank just dropped a bombshell: allocating 1% to BTC ramps up expected portfolio returns while keeping overall risk steady, backed by their latest study. This endorsement from a central bank heavyweight signals growing institutional comfort with Bitcoin as a strategic asset, especially as BTC trades at $78,777.48 in a landscape where BTC price prediction models eye further upside amid macro shifts.
Substacks recommended by Dan Held | The Held Report
Contrarian Arbitrage = all the ways to build wealth and impact we should have learned in school.
When will BTC DeFi TVL topple ETH?
[Guest post by Alexei Zamyatin, co-founder of BOB, the Hybrid L2. BOB is a portfolio company of Dan’s at Asymmetric] Bitcoin is bigger than everything else combined. Although slightly below its peak, it maintains a $1.7T market cap and accounts for more than 60% of the value of all cryptocurrency assets. This makes unlocking Bitcoin DeFi the opportunity of the decade. A mere 0.2% of Bitcoin’s total market cap is used in DeFi compared to 35% for Ethereum.
Stacks gets a big upgrade: Nakamoto and sBTC
Hold your horses people. This dude doesn't have a clue what he's talking about, he's no expert that is for sure. There's more holes in this than a block of Swiss cheese. Where to start with this(?) So many factual errors and oversights, not to mention the shoddy writing -explains the awful engagement levels (this dude supposedly has a large following but look at the likes and comment numbers --geez). Let me learn you something Danny boy... 1. “Exploded” might be overstating it.
Stacks gets a big upgrade: Nakamoto and sBTC
Disclosure: I am an advisor at Trust Machines which is run by Muneeb the founder of Stacks. Trust Machines builds on all Bitcoin layers. Bitcoin DeFi has exploded onto the crypto scene over the last year. While it’s something I’ve been writing about for the last 3 years, it took the 2023 Ordinal boom + a flood of capital into L2s earlier this year to wake everyone up to what is the biggest opportunity in crypto.
Bitcoin: a bold new world.
Satoshi published the whitepaper on 10/31/2008. Right at the moment of peak despair during the 2008 financial crisis. Trust had been lost in a world that ran on trust. But why October 31st? Why that date specifically? It certainly wasn’t because Satoshi was a fan of halloween, it must have had a deeper meaning. With all of his actions, Satoshi demonstrated a careful precision. Satoshi had been working on Bitcoin for at least a year and a half before publishing the whitepaper.
Spiderchain: A New Approach to Scaling Bitcoin
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Spiderchain: A New Approach to Scaling Bitcoin
(This is a guest post written by the Spiderchain team) Bitcoin’s future has been radically altered in the past 18 months. Some people call this period the “orange wave” or “Bitcoin Season 2” or even the “Bitcoin Renaissance.” All these names refer to one thing: an explosion of development, investment, and utility and broader attention paid to the Bitcoin brand and ecosystem. What started with inscriptions and runes has spilled over to new offchain products, onchain scaling solutions, and more.
Mezo: A New Bitcoin Economic Layer
Hi Dan, thanks! But I prefer not to post my name here. But if you could ask the Mezo team to investigate, that would be greatly appreciated. This is what happens: In the verification channel, I get a message from the Mezo Verification captcha bot saying: “To keep up with Mezo you'll need to prove you're a human by completing a quick captcha. Click the button below to get started!” And when I click on the verify button, I get a second message saying: “Please verify yourself to gain access to Mezo.
Mezo: A New Bitcoin Economic Layer
I first invested in Mezo as an angel in January, then Asymmetric invested in their latest round led by Pantera. Below are my quick thoughts on Mezo, and why I believe in the team and their ability to build some of the key pillars of “BitcoinFi” (Bitcoin DeFi). Bitcoin is the largest asset in the crypto ecosystem. It’s so large that it’s larger than everything else *combined.* For good reason, it’s the best store of value asset in the world.
Bitcoin Runes Explainer
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Bitcoin Runes Explainer
I will occasionally have knowledgeable folks in the Bitcoin DeFi space write guest posts on the topic. This post was written by CB Spears regarding Runes, a new metaprotocol developed by Casey Rodarmor the creator of Ordinals. You may have heard about Casey Rodarmor’s “Runes”, the hot new fungible token standard that he’s implementing in the same client he used to launch Bitcoin Ordinals.
I'm joining Asymmetric to invest in Bitcoin DeFi
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Why the Bitcoin ETF is important
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Why the Bitcoin ETF is important
Today is the day. The Bitcoin ETF should be approved today, and the rumor is that it will be available to trade tomorrow. But why is the Bitcoin ETF such a big deal? The ETF reduces friction almost to 0. No need to ACH/wire money into Kraken, no need to KYC/AML, no need to understand how an orderbook works, no need to be proficient in key management or security. While you could previously buy Bitcoin in self directed IRA, the process difficult and the fees expensive.
A new era for Bitcoin.
Welcome back! I've been following you since 2017 and always admire the clarity you bring to the Bitcoin space! I have been to the darkside (sh*tcoin world) and but now back to what I believe in the primary source of value, Bitcoin...fully vested and excited about the future!). I also look forward to your take on Bitcoin ordinals and whether they are a threat to the network (like many believe) or will help the long-term health of the network.
A new era for Bitcoin.
Readers, Apologies for the abrupt end of The Held Report over a year ago. I hit peak burnout between writing the report weekly, creating social media content, and my executive role (note that paid subs were paused during this time period).
Archive - The Held Report
We Must Reject CBDCsWhat are Central Bank Digital Currencies (CBDCs), and what threat do they pose to our freedom? In this newsletter I dive into why CBDCs are not the… Voyager CollapseIn the wake of Celsius’s liquidity crisis, Voyager is crumbling as well. Voyager is a centralized exchange that launched as a mobile app in 2017… My Next Career StepsAfter 3 incredible years at Kraken, I’ve decided to step down from my Director of Growth Marketing role.
We Must Reject CBDCs
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We Must Reject CBDCs
[I co-wrote a whitepaper with Natalie Smolenski on CBDCs which is available to read here. Below is my undiluted, short-from original before we worked on it together] CBDC stands for “Central Bank Digital Currency”, a digital fiat currency issued, controlled, and run by a central bank. In other words, CBDCs are not just digital representations of fiat currencies, like the money held in online bank accounts.
The Dangerous Implications Of Central Bank Digital Currencies
Natalie Smolenski is a senior advisor at the Bitcoin Policy Institute and executive director of the Texas Bitcoin Foundation, and Dan Held is a Bitcoin educator and marketing advisor at Trust Machines. This article is an excerpt from the Bitcoin Policy Institute whitepaper “Why the U.S. Should Reject Central Bank Digital Currencies (CBDCs),” written by Natalie Smolenski with Dan Held. CBDCs are digital cash.
Comments - NFTs on Bitcoin - by Dan Held - The Held Report
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NFTs on Bitcoin
Ethereum generally dominates the conversation when it comes to discussing platforms for launching an NFT. Perhaps that’s rightfully so. NFT projects that flirt with the mainstream, like CryptoKitties or Bored Ape Yacht Club, are Ethereum-based, and that doesn’t even scratch the surface of the thousands of other lesser-known projects also hosted…
Bitcoin Beyond The First World
Bitcoin is rife with implications for the first world, but the truth of this technology is that it’s for everyone. It’s for rich folks with names like Brian Armstrong and Ray Dalio. But it’s just as much for Mama Rosa, the El Salvadoran beachside snack vendor who has accepted Bitcoin as payment for her business since 2019. As a technology for ev…
Voyager Collapse
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Voyager Collapse
In the wake of Celsius’s liquidity crisis, Voyager is crumbling as well. Voyager is a centralized exchange that launched as a mobile app in 2017, offering over 100 cryptocurrencies available for zero-fee trading. It also offered monthly interest payments to those who held beyond the threshold amount pertaining to that cryptocurrency. These rates ranged fr…
My Next Career Steps
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My Next Career Steps
After 3 incredible years at Kraken, I’ve decided to step down from my Director of Growth Marketing role. I couldn't be more bullish on the company that Jesse Powell has built. I'll never forget being able to work with such talented individuals. But this isn’t the end of our relationship. I'm becoming a brand ambassador in a part-time role where I can elevate both Kraken and Bitcoin. Looking ahead, I’m going to be spending more time building and investing in Bitcoin DeFi, starting with Trust Machines.
Coinbase is Fine
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Coinbase is Fine
[Vote on the next topic here] Coinbase is one of the top exchange and brokerage platforms in crypto. Recently there has been a series of bankruptcies from lending/borrowing platforms like Voyager, Celsius, etc. Because of that, people are now looking at major exchanges for the next thing to go “bust” (several of the minor ones could go bust). H…
Bitcoin HODLers are the Revolutionaries
[Vote on the next topic here] My reflections on the important role hodlers play in developing Bitcoin’s network (and other cryptocurrency networks). “In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.” …
The Rise and Fall of BlockFi
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The Rise and Fall of BlockFi
BlockFi is a financial platform that allows retail traders to lend their crypto to earn a yield, or borrow against their crypto to get a fiat loan. The company was founded in August 2017 by two people, Zac Prince and Flori Marquez in New Jersey. They raised their first round of $1.5M seed funding in February 2018, but rapidly grew over the years, raising over $1.3B in funding total as of late 2021.
The Held Report
Why subscribe? The Held Report is a weekly newsletter written by Dan Held, an 8 year crypto veteran, that explains Bitcoin simply. Join the over 200,000 investors and traders who follow Dan. What are people saying about The Held Report? If you have any questions, comments, or feedback please don’t hesitate to reach out to me on email at contact@danheld.com You can also find me on Twitter @danheld
Can Quantum Computing Kill Bitcoin?
[As a paid subscriber, the exclusive Q&A session will begin on Sunday at 8:00AM PT] [I listened to this song while writing this article] Computers we use today have “classical processors” which operate with bits to encode either a zero or one. Quantum computers use quantum bits, or “qubits.” These can encode a zero, one, or both states simultaneously, which allows for exponentially faster processing for certain types of math problems.
Institutional Adoption of Bitcoin
Meet the Institutions Traditionally, "Institutions" refers to financial institutions, otherwise known as banking institutions, which are corporations that provide services as intermediaries of financial markets.These include: central banks, sovereign wealth funds, different types of banks (ex: commercial/investment), brokerages, and insurance firms.
Bitcoin's Distribution Was Fair
Foreword As Bitcoin rises in popularity, and continues to challenge mainstream thought, there will be concerns around certain parameters of its existence. One of those is that the distribution of Bitcoin wasn't "fair," particularly in the earlier stages of network development. I'll dive into the timeline surrounding Bitcoin's launch, and provide a thorough debunking of unfair early distribution claims. TL;DR - Satoshi set out to design the fairest system possible.
The Crypto Mass Extinction Event
A visualization not to be taken too seriously. Fermi Paradox “The Fermi Paradox is the term used to describe the lack of evidence for extraterrestrial life in the face of a universe that should be, by the numbers, bursting with it. But we see no signs of alien technology, and our radio telescopes don’t pick up voices from other worlds.” - Astronomy.com Whe…
BlackRock Could Be Embracing Bitcoin as an Inflation Hedge Ahead of Fresh Stimulus
This week BlackRock, the world’s largest asset manager, made regulatory filings showing it now includes bitcoin futures among the derivatives that can be traded in two of its funds. That development, however small, is a big win for the digital asset in terms of mainstream adoption.
Don't fear Tether
Whenever Bitcoin has a bull run, naysayers try to cope with missing the boat by rationalizing why it will fail through “Fear, Uncertainty, and Doubt” (FUD). Most of these are completely unsubstantiated, but annoyingly persist as negative narratives Bitcoin must fight against. If you’re reading this post and expecting a 40 page research report with statistical analysis of Tether then stop here because I’m not going to deliver that. Neither would you have been convinced if I did.
Dan Held: "Don't Fear Tether"
This was originally published by Dan Held on his substack Whenever Bitcoin has a bull run, naysayers try to cope with missing the boat by rationalizing why it will fail through “Fear, Uncertainty, and Doubt” (FUD). Most of these are completely unsubstantiated, but annoyingly persist as negative narratives Bitcoin must fight against. If you’re reading this post and expecting a 40 page research report with statistical analysis of Tether then stop here because I’m not going to deliver that.
Why Silicon Valley Doesn't Get Bitcoin
Over the last 12 years of it’s existence, Bitcoin has been misunderstood by Silicon Valley which has led to many cringe worthy moments as they’ve endorsed silly ideas and even worse, scams. The two big players in Silicon Valley are the tech companies and Venture Capital (VCs aka investors). The tech companies build the products that we all use, and the VCs fund their endeavors. There is a nuanced courtship that intertwines these two parties.
Why Silicon Valley Doesn't Get Bitcoin
Over the last 12 years of it’s existence, Bitcoin has been misunderstood by Silicon Valley which has led to many cringe worthy moments as they’ve endorsed silly ideas and even worse, scams. The two big players in Silicon Valley are the tech companies and Venture Capital (VCs aka investors). The tech companies build the products that we all use, and the VCs fund their endeavors. There is a nuanced courtship that intertwines these two parties.
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