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This paper investigates user preferences and behaviors related&nbsp;to [Bitcoin](https://debifi.com) financial services,
focusing on&nbsp;custodial and non-custodial options, private key ownership, and the use of&nbsp;Bitcoin
as&nbsp;collateral. Data was gathered through an&nbsp;online survey and in-person responses at&nbsp;the
[Plan B&nbsp;Forum in&nbsp;Lugano](https://planb.lugano.ch/forum-agenda-2024/), targeting Bitcoin enthusiasts
to&nbsp;understand community-specific trends.

## Methodology

The survey collected 200 responses from participants selected randomly within the Bitcoin community, ensuring
representation while acknowledging potential biases. Questions covered demographic data, familiarity with custodial and
non-custodial services, and attitudes toward collateral, interest rates, and rehypothecation.

## Key Findings

### Demographics

Respondents were primarily aged 18-45 (75.6%) and predominantly from Europe (67.8%).

### Bitcoin Ownership and Familiarity

96.1% of&nbsp;participants had owned Bitcoin.

99.4% were familiar with custodial and non-custodial ownership concepts.

### Preference for Financial Services

78.1% preferred non-custodial services.

11.7% preferred custodial services.

10.2% had no&nbsp;preference.

66.3% considered exclusive access to&nbsp;private keys essential.

60.5% favored Bitcoin lending platforms over traditional banks.

![preference-for-financial-services.webp](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/preference_for_financial_services_adc851cd0d.webp)

### Willingness to&nbsp;Use Bitcoin as&nbsp;Collateral

83.9% indicated they would use Bitcoin as&nbsp;collateral for loans, reflecting trust in&nbsp;its role
as&nbsp;a&nbsp;financial asset.

### Interest Rate Trade-Offs and Rehypothecation

81% preferred avoiding rehypothecation, even at&nbsp;a&nbsp;higher interest rate (11%).

19% opted for an&nbsp;8% interest rate with rehypothecation.

78% opted for higher interest rates (+3%) to&nbsp;retain non-custodial control of&nbsp;their collateral.

![rehypothecation.webp](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/rehypothecation_8d05b58d1e.webp)

## Implications for Financial Services

These findings highlight a&nbsp;strong preference for non-custodial, user-controlled solutions that align with
Bitcoin&rsquo;s core principles of&nbsp;decentralization and transparency. Trust in&nbsp;platforms is&nbsp;critical,
with users valuing asset security over cost savings.

Service providers can meet these expectations by&nbsp;integrating features like multisig setups, transparent practices,
and protections against rehypothecation. Platforms such&nbsp;as [Debifi](https://debifi.com), with its non-custodial
model and innovative 3-of-4 multisig framework, address these user demands while emphasizing security and user autonomy.

## Conclusion

The study underscores a&nbsp;significant shift in&nbsp;user expectations, away from centralized models toward
decentralized, trustless financial systems. Bitcoin users demonstrate a&nbsp;willingness to&nbsp;trade higher costs for
control and transparency, reflecting a&nbsp;mature understanding of&nbsp;financial risks and rewards. By&nbsp;aligning
services with these preferences, providers can foster trust, loyalty, and adoption within the Bitcoin community.

This research serves as&nbsp;a&nbsp;roadmap for designing user-focused Bitcoin financial services that respect
decentralization and promote financial sovereignty.

[Download the original research paper](/docs/publications/Navigating_Bitcoin_Financial_Services_A_Survey_on_User_Behavior.pdf)

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Navigating Bitcoin Financial Services: Insights into User Behavior and Preferences

## Debifi

Debifi is&nbsp;a&nbsp;non-custodial lending platform designed to&nbsp;unlock Bitcoin&rsquo;s potential
as&nbsp;a&nbsp;premier form of&nbsp;collateral. Offering secure multisig escrow technology and a&nbsp;commitment
to&nbsp;transparency, Debifi specializes in&nbsp;providing unmatched [Bitcoin loan solutions](https://debifi.com) for
both individuals and institutions. Founded by&nbsp;leaders in&nbsp;the Bitcoin industry, the platform is&nbsp;setting
a&nbsp;new standard for Bitcoin-first financial services.

### A&nbsp;Vision for Bitcoin Holders: &laquo;Don&rsquo;t Sell, Borrow&raquo;

Debifi remains dedicated to&nbsp;empowering Bitcoin holders with innovative financial solutions, echoing Michael
Saylor&rsquo;s well-known philosophy:

> Bitcoin is&nbsp;a&nbsp;long-term asset, and the key to&nbsp;preserving its value is&nbsp;to&nbsp;never sell&nbsp;it.

This approach underpins the company&rsquo;s mission: providing Bitcoin holders with seamless access to&nbsp;capital
while maintaining their assets intact.

### Leading Investors Behind Debifi

The investment round was led&nbsp;by [Timechain](https://timechain.concentric.vc), with participation from notable
backers, including:

- [Axiom BTC Capital](https://www.axiombtc.capital)
- [Fulgur Ventures](https://fulgur.ventures)
- Plan B&nbsp;Fund
- Epoch VC
- Cep Private Equity
- Exodus I&nbsp;GmbH

Prominent Bitcoin advocates [Willy Woo](https://x.com/woonomic), Brad Mills, Chris Hunter, and Giacomo Zucco.

This diverse group of&nbsp;investors brings strategic insights and a&nbsp;shared commitment to&nbsp;advancing Bitcoin
as&nbsp;a&nbsp;financial cornerstone.

### Expert Opinions on&nbsp;Bitcoin Lending

The enthusiasm from investors reflects confidence in&nbsp;Debifi&rsquo;s vision. Alexander Mann of&nbsp;Timechain
emphasized the importance of&nbsp;integrity in&nbsp;Bitcoin-backed loans, adding:

> We&nbsp;expect their implementation to&nbsp;become the standard globally.

Meanwhile, Allen Farrington from Axiom BTC Capital highlighted Debifi&rsquo;s role in&nbsp;Bitcoin&rsquo;s integration
into capital markets, stating:

> Their approach to&nbsp;scaling the overcollateralized Bitcoin-backed lending market is&nbsp;thrilling.

### Driving Innovation in&nbsp;Bitcoin Lending

[Max Keidun](https://x.com/keidunm), Debifi&rsquo;s CEO, expressed pride in&nbsp;reaching this milestone:

> Although Debifi.com is&nbsp;at&nbsp;the very beginning of&nbsp;its journey, we&nbsp;already have solid results and
> have been generating revenue since week one of&nbsp;our launch.

Debifi&rsquo;s roadmap includes a&nbsp;focus on&nbsp;launching new Bitcoin-backed credit products in&nbsp;early 2025.
These offerings, currently in&nbsp;stealth mode, are designed to&nbsp;set a&nbsp;new benchmark for security and
transparency in&nbsp;the lending market.

## Expanding Horizons with Strategic Capital

Debifi plans to&nbsp;channel the newly raised funds into several key areas:

- **Team Expansion:** Enhancing technical and business development capabilities.
- **Market Presence:** Establishing a&nbsp;footprint in&nbsp;new regions.
- **Product Innovation:** Introducing groundbreaking non-custodial, no-rehypothecation credit solutions.
- **Marketing Campaigns:** Raising awareness and driving user adoption.

### Rapid Market Growth and Adoption

Since its beta launch, Debifi has experienced exceptional growth, with loan originations doubling each quarter. The
introduction of&nbsp;the [Debifi iOS app](/app) has further accelerated user acquisition, demonstrating the growing demand
for Bitcoin-backed borrowing solutions.

### Seizing the Market Momentum

As&nbsp;global financial systems increasingly recognize Bitcoin&rsquo;s value as&nbsp;a&nbsp;&laquo;super
collateral&raquo;, Debifi is&nbsp;uniquely positioned to&nbsp;meet this demand. With Bitcoin adoption growing among
individuals and institutions alike, the platform aims to&nbsp;connect liquidity providers with Bitcoin holders globally.

## Looking Ahead: What&rsquo;s Next for Debifi?

Exciting developments are on&nbsp;the horizon as&nbsp;Debifi prepares to&nbsp;launch a&nbsp;suite of&nbsp;groundbreaking
**Bitcoin-backed credit products in&nbsp;Q1 2025**. These innovative solutions are set to&nbsp;redefine the standards
of&nbsp;non-custodial lending, further solidifying Debifi&rsquo;s leadership in&nbsp;the space.

Stay connected with&nbsp;us to&nbsp;be&nbsp;the first to&nbsp;know about these upcoming releases and more. Subscribe
to&nbsp;our channels&nbsp;on [X.com](https://x.com/debificom) and [LinkedIn](https://linkedin.com/company/debifi) for
the latest updates, insights, and exclusive announcements.

## About Debifi

Debifi is&nbsp;a&nbsp;non-custodial lending platform designed to&nbsp;unlock Bitcoin&rsquo;s potential
as&nbsp;a&nbsp;premier form of&nbsp;collateral. With secure multisig escrow technology and an&nbsp;unwavering focus
on&nbsp;transparency, Debifi provides unparalleled borrowing solutions for individuals and institutions. Founded
by&nbsp;leaders in&nbsp;the Bitcoin industry, the platform is&nbsp;setting a&nbsp;new standard for Bitcoin-first
financial services.

For media inquiries, please [contact us](mailto:sergejs.ponomarjovs@debifi.com)

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Debifi Secures Major Milestone with Successful Seed Round


**Period Covered:** June 7 – 13, 2025  
Brought to you by **Debifi** — the non-custodial Bitcoin-backed lending platform delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/market_overview_dca5aec1da.png)


- Bitcoin Price (June 13, 2025): $105,601
- Total BTC Held by Tracked Entities: 3.42 million BTC
- Monthly BTC holdings growth: +3.48%


## BTC in Treasuries (as of June 13)
![Image 13-06-2025 at 18.33.jpeg](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/Image_13_06_2025_at_18_33_77f1137555.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/top_21_287390d2b6.png)
![13thjunebtctreasuries.png](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/13thjunebtctreasuries_3c22358a35.png)
- MicroStrategy, Inc. added +1,750 BTC.
- MARA Holdings, Inc. added +147 BTC.
- XXI added +5,730 BTC.
- CleanSpark, Inc. added +401 BTC.
- Block, Inc. added +304 BTC.
- Metaplanet Inc. added +784 BTC.
- Semler Scientific added +185 BTC.
- Bitcoin Group SE added +5 BTC.
- Boyaa Interactive Intl Ltd added +255 BTC.
- Cango Inc. added +169 BTC.
- Exodus Movement, Inc. added +27 BTC.
- BITFUFU reduced holdings by -191 BTC.


##  Governmental Developments

**🇺🇦 Ukraine** June 10: Verkhovna Rada introduced Bill No. 13356 allowing (not mandating) the National Bank to hold Bitcoin as part of state reserves.
June 13: Bill advanced significantly, positioning Ukraine among the leading European countries formally adopting Bitcoin in national reserve policy.

- No other significant governmental treasury movements were reported in this period.

## Key Observations

- **Strategic Shifts:** Significant institutional BTC accumulation, particularly by XXI (+5,730 BTC), signals growing confidence despite market volatility.

- **Market Reaction:** Bitcoin's sensitivity to geopolitical events remains evident, highlighted by nearly a 7% intraday decline on June 13.
- **Ukraine's Legislative Progress:** Potential milestone for broader European institutional adoption of Bitcoin.



📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)


This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from June 7 – 13, 2025. If you enjoy our reconstructions, we welcome your feedback to ensure the highest accuracy standards are maintained.*


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 Bitcoin Treasury Weekly Report - June 17 – 13, 2025

[Lugano, June 17, 2025] – Debifi, the premier platform for non-custodial Bitcoin-backed lending, has officially exited its beta phase and launched into full production. This strategic move significantly enhances global accessibility to Bitcoin-backed loans for institutions and individual users, powered by advanced mobile solutions and innovative products.

## Why This Launch Matters

Debifi’s exit from beta marks a strong validation of its non-custodial lending infrastructure. Operating with limited capacity during the beta phase, the platform saw over $20 million worth of loans originated by third-party institutional lenders over a 12-month period. What began with just two lenders has expanded to a network of over **30 institutions** - including [Berglinde](https://www.berglinde.com) and [STOKR ](https://stokr.io)- with 3 to 5 new institutional lenders joining the platform each month.  
With loan application volume on the platform growing between 50 -100%, **Debifi is now targeting a 15 - 20x increase in lending activity over the next year.**

## Revolutionizing Bitcoin Lending

The official release of Debifi’s iOS and Android mobile applications significantly enhances platform accessibility and user experience. The updated iOS app introduces cutting-edge features such as [TAPSIGNER](https://tapsigner.com) integration, a comprehensive public offers list, streamlined KYC processes, an informative Explore tab, intuitive in-app filters, and a refreshed user interface designed for seamless interaction.

## Debifi Cards Enters Closed Beta

In a major product milestone, Debifi has launched a closed beta of its new Debifi Cards - bringing Bitcoin-backed microlending to everyday users. The cards offer small, flexible credit lines without compromising Bitcoin custody, expanding the practical use of Bitcoin as collateral.

## Verified Security

Debifi upholds a rigorous commitment to security and transparency, having successfully completed three independent security audits including the latest by a leading blockchain security firm, [Certik](https://www.certik.com). The platform’s architecture is built on multisig escrow technology and follows a strict no-rehypothecation policy, ensuring client assets remain secure and verifiable at all times.

## Advisory Council Expansion

As part of its institutional growth strategy, Debifi is proud to welcome [Willy Woo](https://x.com/woonomic), one of the most respected macro and on-chain Bitcoin analysts, to its Advisory Council. Woo joins [Preston Pysh](https://x.com/PrestonPysh), a prominent Bitcoin educator and co-founder of The Investor’s Podcast Network. Together, they bring unparalleled market insight, macro perspective, and long-term vision to support Debifi’s mission of making Bitcoin the premier collateral asset in global credit markets.

## Comments from Leadership and Partners

Debifi has signed two strategic partnership agreements - with The Bitcoin Adviser and Finpeers - to expand into new markets.

**[Max Kei](https://x.com/keidunm), CEO of Debifi:**  
“The last 12 months were a controlled rollout phase, proving the model with minimal tooling and just two lenders. Exiting beta with over $20 million in loans issued shows real demand. Now, with global scale, full mobile support, and institutional capital, we’re building the gold standard for Bitcoin-backed lending.”

**Peter Dunworth, CEO of The Bitcoin Adviser:**  
“Access liquidity without giving up your Bitcoin or compromising your custody. Debifi delivers smart lending solutions for long-term Bitcoin holders - Bitcoin-backed loans aligned with your estate and wealth preservation strategy. Self-custody meets financial flexibility, powered by Debifi and advised by [The Bitcoin Adviser](https://www.thebitcoinadviser.com).”

**Sander Andersen, CEO of Finpeers:**  
“At [Finpeers](https://www.finpeers.com), we see strong and growing interest from family offices in Bitcoin-related strategies - particularly those that combine yield with downside protection. Our partnership with Debifi enables us to provide access to overcollateralized Bitcoin-backed loans, offering an attractive entry point for investors seeking exposure to Bitcoin without holding it directly. This structure creates an opportunity to generate fiat returns through a conservative, well-collateralized framework - bridging traditional capital with the Bitcoin ecosystem.”

## Strategic Goals

- **Product Innovation:** Expand the suite of Bitcoin-backed credit products, including the Debifi Cards and enhanced mobile capabilities, to meet diverse market needs.  
- **Global Expansion:** Strengthen Debifi’s international presence by increasing institutional partnerships and extending reach into new markets with compliant and user-friendly solutions.  
- **Institutional Onboarding:** Accelerate adoption by financial institutions through robust infrastructure, compliance assurance, and strategic collaborations.  
- **Education and Advocacy:** Actively promote Bitcoin’s potential as the ultimate collateral asset, enhancing market education through targeted initiatives and thought leadership.


**For media inquiries:**  
Sergejs Ponomarjovs  
PR & Media Relations – sergejs.ponomarjovs@debifi.com


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Debifi Exits Beta, Unlocking Bitcoin-Backed Lending for Institutions

**Period Covered:** June 22 – 27, 2025  
Brought to you by **Debifi** — the non-custodial Bitcoin-backed lending platform delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/market_overview_dca5aec1da.png)

- Bitcoin Price (June 27, 2025): $106,984  
- Weekly Price Range: $100,852 – $106,984  
- Market Cap Growth: $2.036T → $2.131T  
- Key Volatility Events:
  - June 22 dip tied to U.S. strikes in Iran
  - Options expiry ahead of June 27 added risk

## BTC in Treasuries (as of June 27)
![BTC in Treasuries ](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/Image_27_06_2025_at_16_47_4865a32aa3.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/top_21_287390d2b6.png)
![Bitcoin Holders 27 June ](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/bitcoinholder27june2_b36252d463.png)

- MicroStrategy, Inc. added +10,345 BTC  
- MARA Holdings, Inc. added +303 BTC  
- Metaplanet Inc. added +3,761 BTC  
- Block, Inc. reduced holdings by -304 BTC  
- Cango Inc. added +363 BTC  
- Bitcoin Group SE reduced holdings by -5 BTC  
- Boyaa Interactive Intl Ltd reduced holdings by -255 BTC

## Governmental Developments

**🇺🇸 Texas** June 22: Governor Abbott signed SB 21 into law, officially establishing the **Texas Strategic Bitcoin Reserve** — making Texas the third U.S. state to adopt Bitcoin at the treasury level.

- No new federal or international government-level BTC holdings were reported during this period.

## Key Observations

- **Institutional Accumulation:**  
 Strategy and Metaplanet led the week with large BTC acquisitions, signaling continued corporate confidence in long-term Bitcoin strategy.

- **Macro-Driven Volatility:**  
  Market was shaken by geopolitical risk from U.S.–Iran tensions and driven further by derivatives expiry.

- **State-Level Bitcoin Adoption:**  
  Texas joins Arizona and New Hampshire in pioneering BTC reserves at the state level.

📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)

This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from June 22 – 27, 2025. If you enjoy our reconstructions, we welcome your feedback to ensure the highest accuracy standards are maintained.*


Bitcoin Treasury Weekly Report - June 22 – 27, 2025

**Period Covered:** June 30 – July 4, 2025  
Brought to you by **Debifi** — the non-custodial Bitcoin-backed lending platform delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/market_overview_dca5aec1da.png)

- Bitcoin Price (July 4, 2025): ~$110,000  
- Weekly Price Range: $108,000 – $111,900  
- Q2 Performance: ~30% BTC gains  
- Key Drivers:
  - Q2 close drove strategic buying
  - Volatility dropped as options expired

## BTC in Treasuries (as of July 4)
![BTC In Treasuries](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/Image_04_07_2025_at_19_50_6f1add86d1.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/top_21_287390d2b6.png)
![BTC Holders ](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/bitcoin_treasury_04july_276a50e44d.png)

- MicroStrategy, Inc. added +4,980 BTC  
- MARA Holdings, Inc. added +322 BTC  
- Metaplanet Inc. added +1,005 BTC  
- Cango Inc. added +96 BTC  
- ProCap BTC joined top 21 with 4,932 BTC (no weekly change)

## Governmental Developments

**🇵🇰 Pakistan** July 1: Pakistan’s crypto minister Bilal Bin Saqib announced the government will deploy its Bitcoin reserve into **DeFi protocols** to generate yield — marking the first sovereign strategy to actively earn on BTC holdings.

- No new federal or state government BTC reserve updates in the U.S. during this week.

## Key Observations

- **Institutional Momentum:**  
  MicroStrategy showed significant accumulation.

- **Market Stability:**  
  Despite quarter-end swings, implied volatility dropped, indicating a calmer investor outlook entering July.

- **State and National Action:**  
  Pakistan becomes the first known government to allocate its BTC reserve toward on-chain yield strategies via DeFi.

📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)

This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from June 30 – July 4, 2025. If you enjoy our reconstructions, we welcome your feedback to ensure the highest accuracy standards are maintained.*


Bitcoin Treasury Weekly Report - June 30 – July 4, 2025

For institutional lenders facing compressed spreads and counterparty opacity across traditional credit markets, Bitcoin-collateralized lending presents a sharp alternative: real collateral, secured on-chain, with transparent execution and strong yield.

**Debifi** is designed for precisely this. Built for institutional lenders, the platform offers a non-custodial, multi-signature model that puts control, verification, and risk management directly in the hands of the lender.

### A Model Structured for Institutional Capital

Each loan is underwritten against Bitcoin, locked in a **3-of-4 multisig escrow** managed between lender, borrower, and two independent signers - ensuring no single party can move funds without consensus.

This structure supports **non-custodial execution** while enabling automated triggers: margin calls are issued when collateral value reaches 75%, 80%, and 85% LTV. 

All parties and movements are visible on-chain. There's no reliance on trust - only on math and multisig.

### Live Market & Lending Scope

- **Loan amounts:** From **$10,000 to $700,000** via public marketplace, with capacity for **bespoke loans exceeding $5 million** through a **dedicated large volume framework**
- **Terms:** Up to **12 months**, fully negotiable
- **Yields:** Typically **10%–14% APR**, based on risk and duration
- **Supported currencies:** **USD, EUR, CHF, GBP, AED, BRL,  USDC, USDT**

Borrowers range from established mining firms to Bitcoin only startups and long-term holders across the US, EU, Switzerland, and Latin America. 
### Verified Security & Strategic Guidance

Debifi has completed **three independent security audits**, including the most recent by **[Certik](https://www.certik.com)**, a leading blockchain security firm. The platform’s architecture is built on **multisig escrow technology** and follows a **strict no-rehypothecation policy**, ensuring that lender assets remain secure, isolated, and fully verifiable on-chain.

Advisors to Debifi include **[Willy Woo](https://x.com/woonomic)** and **[Preston Pysh](https://x.com/PrestonPysh)**, who bring deep macro insight, market structure expertise, and long-term strategic guidance to the platform.

### Designed for Risk-Aware Yield Generation

- **Secure Multisig Custody:** No centralized control; all fund movements require quorum
- **Live LTV Monitoring:** Automated alerts and on-chain transparency
- **No Commingling:** Every escrow is isolated and auditable
- **Transparent Terms:** 1.5% borrower-paid origination fee; no early repayment penalties
- **Lender Autonomy:** Set your own offers, durations, and currency exposure

### Institutional Endorsement

Debifi is trusted by partners like **Blockstream**, **AnchorWatch**, **Free Madeira**, and **Hodling SA**, and backed by investors including **Ten31**, **Epoch VC**, **Plan B Fund**, **Fulgur Ventures**, and **Axiom**.

### Begin the Diligence Process

Explore how your institution can generate secured yield in the Bitcoin lending space. Visit [**debifi.com**](https://debifi.com) to review open offers, initiate onboarding, or speak directly with the team. Institutional capital deserves institutional-grade infrastructure - and now, it has it.
### Contact
For further discussion and partnership inquiries:
Email: [lenders@debifi.com](mailto:lenders@debifi.com)



A Secure Channel Into Bitcoin-Backed Yield

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**Period Covered:** July 6 – 11, 2025  
Brought to you by **Debifi** — the non-custodial Bitcoin-backed lending platform delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/market_overview_dca5aec1da.png)

- **Bitcoin Price (July 11, 2025):** ~$118,800 – $118,900 (new all-time high)  
- **Weekly Price Range:** Broke through $112k mid-week, culminating near $118.9k by July 11  
- **YTD Gain (~26%):** BTC has appreciated ~26% in 2025, matching its performance against gold  
- **Catalysts This Week:**
  - Short squeeze wiped out over $1B in short positions mid-week  
  - Approximately $1.18B inflows into Bitcoin ETFs triggered bullish sentiment  
  - Weak U.S. dollar and renewed macro risk-on narrative supported upward momentum

## BTC in Treasuries (as of July 11)
![Image 12-07-2025 at 01.46.jpeg](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/Image_12_07_2025_at_01_46_8d37d55487.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/top_21_287390d2b6.png)
![BTC Holdings 11 July 2025](https://zrhsczo76h2c.compat.objectstorage.eu-zurich-1.oraclecloud.com/debifi-blog-production-mainnet/BT_Choldings11julyv2_3292c2fae9.png)

- **CleanSpark, Inc.** added +3,053 BTC  
- **Metaplanet Inc.** reduced holdings by –742 BTC  
- **Semler Scientific** added +187 BTC  
- **Cango Inc.** added +191 BTC  

## Governmental Developments

**🇵🇰 Pakistan** — July 9: The State Bank of Pakistan announced nearing completion of its virtual asset regulation framework and pilot launch of a CBDC, while continuing to explore yield strategies (like DeFi) for its national Bitcoin holdings.

- No new U.S. federal or state-level BTC reserve developments in this week.

## Key Observations

- **Price Breakout:**  
  BTC surged past $118k on July 11, driven by ETF inflows, short covering, and macro momentum.

- **Institutional Moves:**  
  CleanSpark’s +3,053 BTC boost shows sustained corporate confidence; Metaplanet’s –742 BTC sale is the only drawdown among tracked holders.

- **Emerging CBDC + DeFi Strategy:**  
  Pakistan's advancing CBDC pilot and exploration of Bitcoin yield strategies suggest a novel blend of digital asset policy.

- **Risk Environment:**  
  Rising BTC complements equity and gold markets amid dollar weakness; however, tariff risks (e.g., U.S. levies announced July 11) may introduce fresh volatility.

📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)

This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from July 6 – 11, 2025. If you enjoy our reconstructions, we welcome your feedback to ensure the highest accuracy standards are maintained.*


Bitcoin Treasury Weekly Report - July 6 – 11, 2025  

Riga’s **[Baltic Honeybadger](https://baltichoneybadger.com)** has, since its inception, offered a rare exception in a sea of increasingly diluted “crypto” conferences. Organized by **[Hodl Hodl](https://hodlhodl.com/)**, the event remains singularly focused on **Bitcoin**—uncompromised, unsponsored by altcoins, and uninterested in chasing whatever fleeting narratives occupy the broader blockchain industry in a given year.
## Debifi Steps In - And Stands Firm

Now, with **Debifi** stepping in as the main sponsor for its 2025 edition, the alignment appears both deliberate and overdue.

Founded on the principles of **non-custodial, Bitcoin-backed lending**, Debifi is not just underwriting the event’s budget. It is underwriting the ethos. Built on **multisig escrows** and adamantly rejecting **rehypothecation**, Debifi does not offer financial products that merely wear the Bitcoin badge. It builds on Bitcoin in the way that matters—preserving sovereignty, not eroding it.
## More Than Marketing—It’s Conviction
To some, this is a marketing decision. To others, a statement. According to **Debifi CEO Max Kei**, it’s decidedly the latter:

> “Baltic Honeybadger is one of the few events that hasn’t sold out. That matters to us. Supporting it is not a branding exercise - it’s a way to stand with the part of this community that still believes in Bitcoin as it was meant to be: sovereign, secure, and non-negotiable.”
## The Last Stand for Uncompromised Bitcoin

For **Hodl Hodl**, the sentiment is mutual. CEO **Anna** remarked:

> “We share a strong relationship with Debifi. Much like Baltic Honeybadger, this product is built by Bitcoiners, for Bitcoiners. Their decision to take the lead this year goes far beyond financial support - it’s a statement of conviction.”

In a time when digital asset events routinely bend to VC dollars and shapeshift to remain palatable to the broadest possible crowd, **Baltic Honeybadger** remains an outlier. And perhaps that’s the point.

Scheduled for **August 9–10, 2025**, in Riga, Latvia, Baltic Honeybadger continues to offer one of the few remaining spaces where Bitcoin isn’t the warm-up act or the afterthought. It is the main stage.
Learn more at [baltichoneybadger.com](https://baltichoneybadger.com)



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