> For the complete documentation index, see [llms.txt](https://docs.stacks.co/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.stacks.co/press-and-reports/bitcoin-theses-and-reports/bitcoin-reports.md).

# Bitcoin Reports

| Title                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Outlet / Author              | Date           |
| -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------- | -------------- |
| 🧪 [Unlocking Bitcoin \[Presentation\]: The Bitcoin Tipping Point](https://syphercapital.substack.com/p/unlocking-bitcoin-presentation-the)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Sypher Capital               | March 2025     |
| 📊 [State of Crypto: 2025 Market Outlet](https://www.globalxetfs.com.au/state-of-crypto-2025-market-outlook/)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Global X                     | February 2025  |
| 🟧 [Stacks Q4 2024 Brief](https://messari.io/report/stacks-q4-2024-brief)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Messari                      | February 2025  |
| 📈 [Top 'Made in USA' Coins by MarketCap](https://x.com/Stacks/status/1881640502149390473?utm_source=stackssnacks.com\&utm_medium=newsletter\&utm_campaign=stacks-thrives-amid-regulatory-changes-stacking-dao-unveils-sbtc-product&_bhlid=42f17e5c11b1222a7ddd2cf3de42eb1c121496bc)                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | CoinGecko                    | January 2025   |
| 📙 [GTM in Asia Report: The Driving Force Behind Crypto Market Growth](https://www.theblock.co/post/333733/foresight-ventures-and-primitive-ventures-unveil-game-changing-apac-crypto-go-to-market-insights)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Primitive Ventures           | January 2025   |
| 📈 [Top 10 Digital Assets Market Predictions](https://x.com/AspenDigitalAMP/status/1877289981166731741)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Aspen Digital                | January 2025   |
| 📙 [State of Tokenized BTC: A $1 Trillion Opportunity](/learn/sbtc/sbtc-operations/deposit.md)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Bitcoin Builders Association | December 2024  |
| 🟧 [Our Thesis on Stacks](https://candidcontemplation.substack.com/p/our-thesis-on-stx)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Portal Ventures              | December 2024  |
| 📊 [Scaling Bitcoin](https://www.gsr.io/reports/scaling-bitcoin/)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | GSR                          | November 2024  |
| 📊 [Bitcoin L2s: A Modular Future](https://www.galaxy.com/insights/research/bitcoin-layer-2-modular-future/)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Galaxy Digital               | November 2024  |
| 📊 [Crypto Sectors in Q4 2024](https://www.grayscale.com/research/market-commentary/grayscale-research-insights-crypto-sectors-in-q4-2024)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Grayscale                    | September 2024 |
| 📈 [Stacks August 2024 Snapshot](https://x.com/signal21btc/status/1833117479024963728)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Signal21                     | August 2024    |
| 🟧 [Building Block: Stacks](https://www.grayscale.com/research/reports/building-block-stacks?ref=stacksblog)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Grayscale                    | August 2024    |
| 📙 [Bitcoin Layer 2 Ecosystems](https://unhashed.aarna.ai/p/bitcoin-layer2-ecosystems?ref=stacksblog)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Alpha Unhashed               | June 2024      |
| 📙 [Stacks Snapshot June 2024](https://app.signal21.io/reports/stacks-snapshot-june-2024)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Signal21                     | June 2024      |
| 🧪 [The Future of Bitcoin #3: Scaling Bitcoin](https://www.binance.com/en/research/analysis/the-future-of-bitcoin-3-scaling-bitcoin?ref=stacksblog)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Binance Research             | May 2024       |
| 🟧 [Q4 2023: No Denying Demand For Bitcoin L2s](https://newsletters.stacks.org/p/q4-2023)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Stacks Foundation            | January 2024   |
| 📊 [Stacks established developers up 51%](https://flight.beehiiv.net/v2/clicks/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.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.t0UBYmIXoMyGWCemN_n36kslOn35rIcv2v7LQR3nMLs) | Electric Capital             | January 2024   |
| 📙 [Binance Research: Top 10 Narratives to Follow in 2024](https://public.bnbstatic.com/static/files/research/top-10-narratives.pdf)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Binance Research             | December 2023  |
| 📙 [Bitcoin Layers Report: Tapestry of a Trustless Financial Era](https://bitcoinlayersreport.com/)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Spartan Group                | December 2023  |


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