Stay up to date with the CriptoTendencia WhatsApp channel: Instant news about Bitcoin, Altcoins, DeFi, NFT, Blockchain and Metaverse. Subscribe!
Do you want to be one step ahead in the crypto world? Our weekly summary gives you the key to successfully navigate the volatile Bitcoin market. Discover the opportunities and risks, and make smart decisions to maximize your profits.
Texas proposes creating a strategic Bitcoin reserve
Texas state representative Giovanni Capriglione has introduced a bill aimed at establishing a strategic Bitcoin reserve, becoming the fourth US state to show interest in developing its own BTC treasury. The legislative proposal, called the “Texas Strategic Bitcoin Reserve Act,” seeks to create a special fund within the state treasury, specifically to hold Bitcoin as a financial asset.
I can confirm that the state of Texas has filed a bill to officially establish a ‘Strategic Bitcoin Reserve’.
History was made as this was the first time a bill was filed live on X Spaces.
Congratulations to @VoteGiovanni for his leadership on Bitcoin. pic.twitter.com/uorZoRgXsC
— Dennis Porter (@Dennis_Porter_) December 12, 2024
The project states that all Bitcoin held in reserve must be held for a minimum of five years before it can be transferred, sold or converted. To ensure security and transparency, the comptroller is tasked with developing policies and protocols for the management of the reserve, including periodic audits and reports that will be published online.
Now, the bill was introduced in the Texas House of Representatives, where it will have to go through a legislative process. If it is approved there, it will be debated in the Texas Senate. Then, if approved, it will be signed by the governor of Texas to enact the bill as state law.
Vancouver Council passes motion to explore Bitcoin in municipal finances
This motion, presented to the City Council by Vancouver Mayor Ken Sim, seeks the creation of a strategic Bitcoin reserve with the goal of diversifying the city’s finances and protecting its stability and technological leadership.
In this regard, Ken Sim said he was presenting the motion in response to “future challenges” and as a way to ensure “the next 100 years” for Vancouver: “We have affordability problems, and I truly believe that Bitcoin could be something that can solve our problems, both financial and affordability.
#VanCityCouncil approves motion 3. Preserving of the City’s Purchasing Power Through Diversification of Financial Reserves – Becoming A Bitcoin Friendly City.
— Vancouver City Clerk (@VanCityClerk) December 11, 2024
The proposal includes the possibility of converting part of the city’s financial reserves into Bitcoin, which would allow sources of income to be diversified. It also seeks to modernize its financial approach and position Vancouver as a leader in Cryptocurrency adoption, offering taxpayers a viable alternative in an uncertain economic context.
Marathon buys Bitcoin for $1.1 billion and strengthens its strategy
Marathon Digital Holdings (MARA), one of the global Bitcoin Mining companies, has purchased 11,774 BTC. Valued at around $1.1 billion, this purchase has significantly increased the company’s holdings to an incredible 40,435 BTC. MARA is the second largest corporate holder of BTC, only surpassed by MicroStrategy’s 423,650 BTC. Interestingly, both companies announced their Bitcoin purchases less than 24 hours apart.
Marathon registered this operation with the United States Securities and Exchange Commission (SEC), confirming the purchase of 11,774 BTC. According to the company, the funds came from proceeds generated by its convertible bond offerings.
Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 11,774 BTC for ~$1.1 billion at ~$96,000 per #bitcoin and has achieved BTC Yield of 12.3% QTD and 47.6% YTD. As of 12/9/2024, we hold 40,435 BTC, currently valued at $3.9 billion based on a… pic.twitter.com/2uvnrhbxaP
— MARA (@MARAHoldings) December 10, 2024
Regarding this fact, Fred Thiel, CEO of Marathon Digital, said: “We believe that Bitcoin is the best treasury reserve asset in the world and we support the idea of sovereign wealth funds holding it.”
MicroStrategy Bitcoin Reserves Reach 423,650 BTC After New Purchase
MicroStrategy acquired 21,550 BTC for $2.1 billion between December 2 and 8, at an average price of $98,783 per BTC. The announcement came shortly after Michael Saylor predicted that he would continue buying Bitcoin until it reaches $1 million per coin.
MicroStrategy has acquired 21,550 BTC for ~$2.1 billion at ~$98,783 per #bitcoin and has achieved BTC Yield of 43.2% QTD and 68.7% YTD. As of 12/8/2024, we held 423,650 $BTC acquired for ~$25.6 billion at ~$60,324 per bitcoin. $MSTR https://t.co/8r7bFqMFof
— Michael Saylor⚡️ (@saylor) December 9, 2024
To all this, Michael Saylor reiterated his bullish stance on cryptocurrencies and his hodl philosophy: “I’m sure I’ll be buying Bitcoin at $1 million per coin, probably around $1 billion worth of Bitcoin per day at that price.” ».
The Bitcoin enthusiast has also urged the US government to dump gold reserves and buy more Bitcoin as a hedge against inflation.
Javier Milei announces revolutionary measures for the Argentine economy and the use of Bitcoin
The president of Argentina, Javier Milei, has once again demonstrated his vision for the future by presenting an ambitious economic plan for his second term. These new proposals promise to revolutionize the country’s economy and position it as a leader in the region.
Among the countless proposals is free competition of currencies, including Bitcoin. It is a system in which currencies of all kinds can compete in a market without state intervention and that individuals can choose which one to use for transactions, savings or investment.
«They will be able to use the currencies they want in their daily transactions with complete freedom. This means that from now on each Argentine can sell, buy or invoice in dollars or in the currency they consider, except for the payment of taxes which, for now, will continue to be in pesos.
Javier Milei
In closing, so that you don’t miss any details about what is happening in the world, expand on these and other news through our main page.
I say goodbye with this phrase from Michael Saylor: «Bitcoin is the best asset you can have. The numbers explain it by themselves.
Related
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
