Happy Monday Bitcoiners, it's Bam here with another Bitcoin update!
Each week, our team at Bitcoin News saves you time by curating the most impactful events into a concise, easy-to-read update.
Notable events this week include:
Bitcoin hits $100K for the first time.
MicroStrategy surpasses the 400,000 BTC milestone.
Bitcoin ETFs now hold more Bitcoin than Satoshiâs original stash.
Letâs dive in! âĄ
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LATEST NEWS đ°
đ ADOPTION
Michael Saylor delivers a concise 3-minute presentation to the Microsoft Board of Directors, outlining why the company should adopt a Bitcoin Treasury Strategy.
Virgin Voyages becomes the first cruise line to accept Bitcoin as payment.
Strike launches Bill Pay, enabling users to pay bills with Bitcoin and seamlessly live on a Bitcoin Standard.
âď¸ LEGAL
France proposes a new âunproductive wealth taxâ targeting assets like Bitcoin.
The Czech Republic passes a bill eliminating capital gains tax on Bitcoin held for over three years, with unanimous support from parliament.
Swiss lawmaker Samuel Kullmann advocates for a Strategic Bitcoin Reserve, warning, âThe window to move faster than the USA and BRICS is closing quickly.â
đ MARKETS
MicroStrategy acquires an additional 15,400 BTC, bringing its total holdings to 402,100 BTC on its balance sheet.
Digital asset venture capital firm Sora Ventures launches a $150M fund to support Asian-listed companies in adopting Bitcoin treasury strategies.
BlackRockâs Bitcoin ETF holdings exceed 500,000 BTC.
âď¸ MINING
MARA completes its second convertible note offering, raising $850 million at 0% interest to purchase more Bitcoin.
Bitcoin mining difficulty hits a new all-time high.
Watch a Bitaxe solo mine Bitcoin from the back of a Land Cruiser in Kenyaâs Maasai Mara Nature Reserve, powered by Starlink connectivity.
đłď¸ POLITICS
Japan's Digital Minister shared a photo of himself mining Bitcoin with a Bitaxe, using Jack Dorsey-backed Ocean mining pool software.
Russia's President Putin speaking at a live televised financial conference, declared, âWho can ban Bitcoin? Nobody.â
Fed Chair Powell compares Bitcoin to gold, calling it âdigital gold.â
BAMS 2 SATS đ§˘
What a week! Bitcoin has crossed the $100,000 mark nearly 16 years after its inception. Momentum is surging as major outlets like the Financial Times publicly admit they were wrong to dismiss Bitcoin, even apologizing for influencing readers to overlook its growth.
If they missed the mark on the best-performing asset of the last decade, it begs the questionâwhat else might they have gotten wrong?đ¤
Institutional interest in Bitcoin continues to grow, with more companies declaring it as their treasury reserve asset. Others are actively increasing their holdings or raising capital to expand their positions.
This week saw notable moves from several publicly traded companies:
The Bitcoin Well, a publicly traded Canadian Bitcoin exchange, has adopted Bitcoin as a Treasury Reserve, acquiring 7.53 BTC and launching a $2 million convertible debt offering.
Genius Group, a publicly traded entrepreneurship education firm based in Singapore, has acquired 172 Bitcoin worth $15.8 million.
Semler Scientific has acquired 303 BTC, bringing its total holdings to 1,873 BTC, purchased at an average price of ~$78,553 per Bitcoin.
Metaplanet has partnered with SBI VC Trade to launch a Bitcoin shareholder reward program, distributing ÂĽ30 million worth of Bitcoin to over 2,000 eligible shareholders.
Hut 8, a publicly traded American Bitcoin miner, plans to raise up to $500 million to purchase Bitcoin as a strategic reserve asset.
BitFuFu, a publicly traded cloud mining company, reveals a Bitcoin treasury of 1,664 BTC, valued at $163.7 million.
Even on-chain analysts report unprecedented demand at these all-time high prices, driven especially by large-scale buyers.
On the political front, support for Bitcoin continues to grow. This week, New York Cityâs Mayor reflected on being mocked for taking his first three paychecks in Bitcoin.
The Mayor quipped,"Yâall laughed at me when I first got my Bitcoin. Who's laughing now?"
Even President Donald J. Trump offered congratulations and took some credit for Bitcoin reaching $100,000. While his influence may have contributed to the recent rally, this milestone was likely inevitableâwith or without his support.
by Donald Trump
Now weâll see if the U.S. follows Michael Saylorâs advice to convert its gold reserves into Bitcoin and aim to accumulate 25% of the network. Personally, Iâm uneasy about one country holding that much Bitcoin, but as the saying goes, âBitcoin is for everyone.â
by Michael Saylor
It might be a good time to increase our regular Bitcoin purchasesâour weekly or monthly stacksâsince others seem more than ready to do the same.
Stay safe, enjoy the ride & keep on stacking!
Bam
Could $1 Quadrillion Eventually Flow Into Bitcoin?
This week, weâre joined by a close friend of the program, Hector Alvero.
Hector is not only a gifted Bitcoin educator but also one of the most bullish voices on whatâs next for Bitcoin. Donât miss this lively conversation about the massive unlocks ahead and why you might need less than you think to retire on Bitcoin.
