David Marcus is taking his experience as the former head of PayPal and Meta Messenger and applying it to building on Bitcoin’s Lightning Network.

At Lightspark’s first partner summit, Lightspark Sync, he and his team rolled out new capabilities for the Universal Money Address (UMA) standard it launched one year ago. These new features will make it easier to tip, pay for subscriptions and invoice over Lightning (and in conjunction with banks in some cases).

At the summit, Lightspark also unveiled a new Bitcoin L2 it has built — Spark — which is interoperable with Lightning and which enables users to use bitcoin (and stablecoins) non-custodially.

I sat down with Marcus the day before…

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BlackRock’s pioneering spot Bitcoin exchange-traded fund (ETF) has achieved a monumental milestone, amassing over $30 billion in holdings, signaling a robust appetite for the leading cryptocurrency. Launched just this year on January 10, the ETF now contains more than 417,000 Bitcoins, valued at approximately $30.4 billion. This remarkable growth showcases the increasing mainstream acceptance and investor confidence in Bitcoin.

As the U.S. presidential election approaches on November 5, inflows into the Bitcoin ETF have seen a notable surge. This trend underscores the growing interest in cryptocurrency as a viable investment ahead of significant political events, which often influence market dynamics.

Reaching the $30 billion mark in under 10 months, BlackRock’s ETF has set a new record for the fastest growth to this valuation, as highlighted by Bloomberg’s senior ETF analyst Eric Balchunas. The previous records were held by $JEPI and $GLD, which took significantly longer to achieve similar milestones. This achievement not only underscores the ETF’s success but also marks a significant moment in the evolution of cryptocurrency investments.

Bitcoin’s potential to reach a $200,000 valuation stands strong, as suggested by Bitwise CIO Matt Hougan. Unlike common beliefs tying its growth solely to the dollar’s decline, Hougan identifies Bitcoin’s dual strengths: its established role as a digital gold and its capability to hedge against fiat currency debasement. With Bitcoin currently holding a fraction of gold’s market, even a partial shift in investor preference could send its value soaring.

Further emphasizing Bitcoin’s independent pathways to growth, Hougan notes the asset’s potential in the store-of-value market, which could see Bitcoin achieve $214,000 solely through increased investor interest. Simultaneously, growing fiscal pressures on currencies like the dollar could amplify Bitcoin’s appeal as an alternative asset, promising even higher valuations.

Beyond its traditional appeal, Bitcoin’s future could see it evolving into an international settlement layer, broadening its utility and potentially accelerating its market cap expansion. Hougan, while optimistic about Bitcoin’s price trajectory, advises investors on the inherent risks, including market volatility and regulatory changes.

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I know, it’s a big statement, but really, the more I think about it, the more I’m convinced – looking back, 2024 will be remembered as the defining year for Bitcoin, the year Bitcoin transformed from magic internet money into a real institutional investment and financial asset.

The evidence is overwhelming:

– Pension funds and university endowments allocated to Bitcoin.- The long wait for a US Bitcoin ETF ended.- Wall Street giants like BlackRock…

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Florida’s Chief Financial Officer, Jimmy Patronis, has proposed an innovative step for managing the state’s retirement funds. In a recent letter to Chris Spencer, the executive director of the Florida State Board of Administration (SBA), Patronis advocated for the inclusion of Bitcoin in the state’s investment strategy, labeling it as ‘digital gold.’ He highlighted its potential to diversify and stabilize the state’s portfolio against other asset volatilities.

Patronis has urged the SBA to explore the viability of incorporating digital assets into the Florida Retirement System Trust Fund through a “Digital Currency Investment Pilot Program.” This move is aimed at maximizing returns for state employees such as firefighters, teachers, and police officers. The Florida Growth Fund, which previously invested nearly $1 billion into high-growth ventures, could serve as the conduit for these digital investments.

Aligning with Governor Ron DeSantis’s stance on decentralizing monetary control, this strategic pivot to cryptocurrency seeks to fortify the $205 billion fund against future economic fluctuations, offering a robust alternative to conventional assets before the next legislative session in March 2025.