Market cap
Loading...BTC / USD
Loading...
Loading...Waiting for market data…
24-hour volume
Loading...24-hour high
Loading...24-hour low
Loading...PRICE HISTORY
₿ price chart
Loading...Past month
Loading chart…
SIGNATURE FEATURE
₿ Macro Plumbing
Track the liquidity and rates plumbing behind the Bitcoin macro thesis. Official data comes first, with clear labels for what is and is not QE.
Loading M2…
Loading Fed assets…
Loading TGA…
Loading reserves…
TREASURY ACTIVITY
Latest company Bitcoin moves
Loading treasury disclosures...
INSTITUTIONAL DEMAND
U.S. Spot Bitcoin ETF Flows
Loading ETF flow snapshot...
QUICK CONVERTER
Bitcoin to dollars
LIQUIDITY · RATES · POLICY
₿ Macro Plumbing
Official macro data translated into the plumbing Bitcoiners care about, without calling every balance-sheet move “money printing.”
Live metrics: Federal Reserve series through FRED, plus daily Treasury General Account data from U.S. Treasury Fiscal Data. Policy classifications use official Fed and Treasury releases.
LIVE DATA
Core liquidity snapshot
Four core balance-sheet and money measures at a glance. Each card uses official-source history and shows a one-year trend. Tap a card to open it in the historical chart below.
Loading M2...
Loading Fed assets...
Loading reserves...
Loading TGA...
HISTORICAL LIQUIDITY
M2 money supply
M2 is a broad measure of U.S. money supply that includes currency, checking deposits, savings deposits and other highly liquid balances.
Bitcoiners watch M2 because sustained money-supply growth can be part of a broader liquidity backdrop for scarce assets. The relationship with Bitcoin is not immediate or one-to-one.
Preparing 1Y chart...
RATES & CONDITIONS
Supporting macro conditions
Reverse repo, Treasury yields, real yields, the dollar and the derived net-liquidity proxy add context without being treated as the same thing as bank reserves or M2.
TREASURY YIELDS
U.S. Treasury curve snapshot
Why Bitcoiners care
Long-term Treasury yields shape financial conditions, borrowing costs and real rates. Persistent stress in the long end can affect housing, credit and policy choices. Falling yields alone do not mean QE or Yield Curve Control.
POLICY WATCH
What is actually happening?
“Not announced” means no qualifying program was identified in the latest official policy materials used for this beta. This is classification, not a market forecast.
OFFICIAL SIGNAL FEED
Recent plumbing developments
Money supply
Track the direction and growth rate of broad money. Faster M2 growth can support a liquidity thesis, but it is not a direct Bitcoin-price signal.
Treasury cash
A rising Treasury General Account generally drains reserves; a falling TGA generally returns cash to the banking system, all else equal.
Fed securities
Separate reserve-management purchases, reinvestments and QE. The reason for purchases matters as much as the balance-sheet direction.
Yield control watch
We only flag YCC if the Fed explicitly targets yields or commits operations to maintain a yield objective. Falling long-term yields alone do not count.
PRIMARY-SOURCE COMPANY DATA
Corporate Bitcoin Treasuries
Fifteen major public-company Bitcoin holdings, tied to primary SEC or official company disclosures. The goal is a defensible dataset, not the fastest copied leaderboard.
Working scope: 15 verified public-company holdings. This is not yet an exhaustive worldwide ranking. Customer custody and exchange operating inventory are excluded.
Companies tracked
15BTC tracked
1,097,210 ₿Live USD value
Price updating…Share of 21M supply
5.22%15 MAJOR VERIFIED HOLDINGS
Public-company BTC holdings
USD values use the live BTC price from the ticker. Holdings stay tied to each company's disclosed date. Rows explain important differences such as pledged BTC, receivables, subsidiary holdings and custody exclusions.
Loading verified treasury data...
TREASURY WATCH · AUTOMATION BETA
SEC filing monitor
Ready
Treasury Watch is built to check monitored SEC issuers on a schedule. New Bitcoin language goes into a private review queue. It does not become a purchase, sale or holdings alert until the source and numbers are verified.
DETECTED›REVIEW›VERIFIED›PUBLISHED
VERIFIEDMatches a primary holding source already verified in the leaderboard.
REVIEWBitcoin-related language detected in a newer filing. Human verification required.
NO BTC SIGNALLatest monitored filing checked with no new Bitcoin signal.
Loading Treasury Watch status...
Private review evidence is stored server-side and blocked from public web access. The public page only shows monitoring status and filing-level signals. A scheduled scan never publishes an unverified purchase claim.
RECENT VERIFIED ACTIVITY
Treasury purchase feed
Loading recent disclosures...
METHODOLOGY
Why our list may differ from other trackers
We would rather show a smaller comparable dataset than force every digital-asset balance into one number. These are examples of items intentionally kept out of the ranked total.
Loading methodology notes...
Primary-source verification
U.S. issuers link to EDGAR. International issuers use official exchange or company disclosures.
Comparable holdings
Customer custody is excluded. Subsidiary holdings are separated where needed to prevent double counting.
Alert foundation
Treasury Watch is the first backend step toward native iPhone alerts for verified BTC purchases, sales and material holdings changes.
NETWORK SECURITY · MINER ECONOMICS
Bitcoin Mining
Follow the measurable economics inside Bitcoin: network hashrate, difficulty, miner revenue, transaction fees and the next difficulty adjustment.
Source: mempool.space public Bitcoin API, cached by The BTC App. The site reads our server cache instead of querying the public API on every visit.
WHY MINING MATTERS
How the mining system fits together
Mining is where Bitcoin's fixed issuance schedule, transaction demand and network security meet. The useful signal comes from reading the metrics together, not treating one number as bullish or bearish.
Block subsidy plus transaction fees determine how much BTC miners collectively earn. BTC price determines the dollar value of that revenue.
When mining economics and capital investment support expansion, more computing power can compete. When economics tighten, marginal machines can shut down.
Changes in hashrate temporarily affect how quickly blocks are found relative to Bitcoin's roughly 10-minute target.
Every 2,016 blocks, Bitcoin raises or lowers difficulty to pull average block production back toward the 10-minute target.
The key relationship: higher hashrate strengthens network competition, while higher difficulty makes each unit of hashrate work harder for the same expected share of block rewards. Miner profitability still depends on revenue and costs.
NETWORK SNAPSHOT
Mining at a glance
The core network and revenue measures Bitcoiners watch. Short-term moves can be noisy, so the historical view below provides context.
Loading hashrate...
Loading difficulty...
Loading hash revenue...
Loading miner fees...
CURRENT READ
What the network is telling us
Waiting for the latest mining snapshot...
2016-BLOCK RETARGET
Next difficulty adjustment
Estimated change
Loading...
Waiting for network data...
Blocks remaining...
Avg block time...
Next height...
A positive estimate means blocks have been arriving faster than the 10-minute target during this epoch, so difficulty would rise if that pace persisted. A negative estimate means blocks have been slower, so difficulty would fall. The estimate keeps moving until the retarget is complete.
MINING THROUGH THE CYCLE
Network hashrate
Estimated total computing power securing the Bitcoin network.
Sustained hashrate growth generally reflects more mining infrastructure competing to secure the network, although short-term estimates can be noisy.
The chart will explain what the selected period is showing once the historical series loads.
Loading...
Loading mining history...
MINER REVENUE COMPOSITION
Subsidy + transaction fees
Loading subsidy...
Loading fees...
Loading fee share...
Miners are paid by two sources: newly issued BTC from the block subsidy and fees paid by users for blockspace. The subsidy is fixed by Bitcoin's issuance schedule and falls at each halving. Fees are market-driven, so their share of miner revenue can jump when blockspace demand rises.
DATA STANDARD
What the numbers do not mean
Hash revenue is not profit. Our estimate is gross network revenue per PH/s and does not include electricity, machines, hosting, debt or overhead.
Hashrate is estimated. Network hashrate is inferred from block production and difficulty, so short windows can fluctuate even when physical mining capacity has not changed.
Difficulty estimates move. The next retarget projection changes as blocks arrive. We show it as an estimate, never as a completed adjustment.
PRIMARY-SOURCE FIRST
Bitcoin News
High-signal developments that can change the Bitcoin thesis. Official releases first, short context second, no altcoin headline dump.
Loading sources
Waiting for News Watch...
TOP STORIES
What matters now
Stories are filtered for Bitcoin relevance. A release can matter because it changes liquidity, rates, institutional access, regulation, mining or the network itself. We do not force a bullish or bearish conclusion.
Loading high-signal official releases...
SOURCE STANDARD
How The BTC App handles news
Automated News Watch currently uses official Federal Reserve Board, BLS and SEC releases. Treasury activity continues to be verified through SEC filings.
We separate the official facts from our own short explanation of why a development may matter to Bitcoiners.
We do not ingest or republish CoinDesk, The Block, Reuters or other commercial publisher article text without a separate content license.
Proposed rules, estimates and announcements stay clearly labeled so they are not presented as completed policy or confirmed market outcomes.
Government logos and seals are not used. Source names identify the origin of the information and do not imply endorsement.