• Upcoming Legislation for Strategic Bitcoin Reserve

• Bitcoin Is About To Get Way Bigger

• Marathon to HODL $100M Bitcoin

• And more…

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BIG NEWS FOR BITCOIN:
UPCOMING LEGISATION FOR STRATEGIC BITCOIN RESERVE

BREAKING: Wyoming Senator Lummis to Announce Legislation for Strategic Bitcoin Reserve at Bitcoin 2024

Exciting news for the Bitcoin community!

Senator Cynthia Lummis of Wyoming is preparing to introduce a bill proposing that the Federal Reserve include Bitcoin as a strategic reserve asset, similar to its holdings in gold and foreign currencies.

According to Fox Business, this announcement is scheduled for Saturday at the Bitcoin 2024 conference. The timing is intentional, as Donald Trump is slated to speak at the conference at 2 PM. Lummis is hoping to secure Trump’s endorsement for the bill.

Lummis has been teasing this announcement on Twitter, notably including a ₿ symbol in her posts.

The prospect of the U.S. adopting Bitcoin as a strategic reserve asset is groundbreaking. Sam Lyman, Director of Public Policy at Riot Platforms, highlighted the potential impact:

However, it’s important to remember that this is only a proposal at this stage.

The bill would need to gain the support of both the president and Congress, which is no small task.

In other news, there were rumors that Kamala Harris might attend the Bitcoin 2024 conference this weekend. However, David Bailey, CEO of Bitcoin Magazine, has confirmed that these rumors are false.

We’re looking forward to bringing you more updates from this exciting conference. Stay tuned!

BITCOIN IS ABOUT TO GET WAY BIGGER

Bitcoin adoption is about to get way bigger than anyone expected.

That's the latest message from investment strategist and Bitcoin enthusiast, Lyn Alden.

In a recent interview with Macroscopic, Lyn explained how Bitcoin is a global, portable, and censorship-resistant asset that can be self-custodied, and it has the potential to become one of the largest monetary systems in the world.

She goes on to explain that because Bitcoin is secure, it is an attractive option for individuals and companies seeking to transfer wealth across borders.

The fact that Bitcoin price movement is so volatile allows for massive potential upside.

In addition, she highlights that the continued appreciation in Bitcoin price shows how healthy the network is, and with Bitcoin hubs beginning to spring up around the world, where enthusiasts are building communities and businesses around Bitcoin,

Alden is optimistic about the trajectory that the leading cryptocurrency is taking.

Eventually, cites Alden, these hubs will grow to become multi-trillion dollar networks on their own, way surpassing the value of traditional stock options.

Have a listen to this excerpt from the interview:

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MARATHON TO HODL $100M BITCOIN

In a bold move, Marathon Digital (MARA), one of the foremost bitcoin mining companies, has acquired $100 million worth of BTC on the open market. The company has announced its decision to once again hold all mined bitcoin (BTC) on its balance sheet.

As of Thursday, Marathon now holds more than 20,000 bitcoin, valued at nearly $1.3 billion based on current prices, and plans to continue accumulating BTC in the open market.

This shift to a HODL strategy comes almost a year after Marathon began selling its mined digital assets to fund operational expenses. During the previous bull market, holding onto mined BTC was a common strategy among miners, which paid off handsomely.

However, the crypto winter forced many, including Marathon, to sell their assets starting in early 2023.

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OTHER NEWS:

• Alby launches Alby Hub, which enables self-custodial Lightning with an integrated node and much more.

• Ferrari extends bitcoin payments to European dealers.

• Bitbox hardware wallet provider announces they will integrate silent payments into their wallet soon.

• Lightning Labs announces the launch of Taproot Assets on Bitcoin, enabling stablecoins on the Lightning Network.

• Trump denies reports that he plans to hire either JPMorgan CEO Jamie Dimon or BlackRock CEO Larry Fink as Treasury Secretary.

• VanEck forecasts Bitcoin reaching $52.38M by 2050, citing its potential as a reserve currency, Layer 2 advancements, and weakening traditional currencies.

• Ego Death Capital secures $43M for its second fund to invest in Series A Bitcoin startups.

• God Bless Bitcoin, full length documentary, posted by Swan Bitcoin.

   

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.