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Utah moves one step closer to pioneering a state Bitcoin reserve advancing the “Strategic Bitcoin Reserve” bill through the House to the Senate. Satoshi Action Fund CEO Dennis Porter highlighted the bill’s progress noting its potential to position Utah as a trailblazer in embracing cryptocurrency. The bill passed with strong support from the Utah House Economic Development Committee.
The proposed legislation allows the state treasurer to allocate up to 5% of select public funds into Bitcoin and other high-cap crypto assets. Utah Representative Jordan Teuscher who introduced the bill envisions Utah as a leader in the legislative embrace of digital assets enhancing the state’s economic innovation.
As the bill progresses to the Senate for approval Utah’s bold move could set a precedent for other states. Arizona and New Mexico are exploring similar initiatives but Utah stands on the brink of becoming the first state with an official Bitcoin reserve setting a significant precedent in governmental crypto investments.
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First, MicroStrategy rebranded to, well, just Strategy. Then it detailed its plans for 2025.
If you weren’t yet convinced the company formerly known as MicroStrategy was all in on bitcoin, perhaps yesterday changed that.
Strategy’s orange logo features a bitcoin “B.” Company leaders, after Wednesday’s market close, pledged to stick with its plan to raise, purchase, and repeat.
The self-proclaimed bitcoin treasury company (and now a Nasdaq 100 stock) held 471,107 BTC, as of Feb. 2 — worth roughly $46 billion at that time. It acquired 258,320 for $22.1 billion in 2024…
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With the recent confirmation of Scott Bessent as US Treasury Secretary, we’ve received the first quarterly refunding announcement under his leadership.
Much has been written in the past year about the potential politicization of the composition of debt being issued by Treasury and how that could impact markets.
As seen below, the proportion of bills that have been issued compared to coupons has skyrocketed. Historically, this type of maneuver has been kept for times of crisis when Treasury needs to raise a lot of money very quickly, with little impact to duration.
However,…
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Recently, Flashnet announced that it had raised a $4.5m seed round, led by Abstract Ventures with participation from UTXO Management and others.
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Flashnet is a Bitcoin native DEX based on Spark (a Bitcoin L2 designed between the Flashnet team and LightSpark). It’s designed to rival the performance of a (Centralized Exchange) CEX with none of the custody.
Spark enables instant and unlimited self-custodial transactions of Bitcoin and tokens…
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The world’s longest testnet is at an end. The Berachain L1 blockchain is officially launching its mainnet and BERA token today.
People are very excited! But that was already obvious. Berachain has attracted a ridiculous $3.1 billion in liquidity on its pre-launch liquidity platform Boyco, making Bera the 8th largest chain by TVL.
Bera’s early liquidity rush is thanks to its somewhat complex “proof-of-liquidity” (PoL) consensus mechanism.
Here’s the gist of it:
Your average proof-of-stake (PoS) network has a general-purpose native token (e.g. ETH or SOL).
Berachain…
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Introduction
In an economic landscape increasingly characterized by monopolization and the dominance of institutionalized credit, innovative technologies and protocols are emerging that have the potential to change the foundations of our economy and society. At the forefront of this are Bitcoin and Nostr—two groundbreaking protocols that together can usher in a new era of innovation, free from the financial constraints of the fiat system. This article examines the history and mechanisms that enable Bitcoin and Nostr to act as catalysts for innovation and human progress.
Innovation under Hard Metal Currencies
In the days of hard metal currencies, especially during the gold standard,…
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