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The State of Michigan Retirement System has ventured into cryptocurrency by investing $6.6 million in the ARK 21Shares’ ARKB spot Bitcoin exchange-traded fund. This initiative taps into just a tiny portion, 0.004%, of Michigan’s $143.9 billion pension fund, signaling a cautious yet strategic embrace of digital assets. This mirrors a growing inclination among institutional investors toward Bitcoin, evidenced by a recent $99 million Bitcoin investment by the State of Wisconsin Investment Board via BlackRock’s IBIT ETF.
Since the launch of the U.S. Bitcoin Spot ETF in January, the market has witnessed a remarkable uptake with a $75 million influx over two days alone. The inclusion of Bitcoin in such traditional investment vehicles underscores a significant shift towards institutional adoption, further fueled by discussions of the United States considering Bitcoin as a strategic reserve asset.
This trend not only illustrates a broader acceptance of digital currencies in mainstream finance but also positions the U.S. to potentially become the largest nation-state holder of Bitcoin. As more states and financial institutions diversify into cryptocurrencies, the pathway to widespread acceptance seems increasingly paved.
Solana (SOL) has overtaken BNB to secure the fourth position in global cryptocurrency rankings by market cap. Following a robust 8.7% increase in value over the past 24 hours, SOL now stands just behind Bitcoin, Ethereum, and USDT, according to CoinMarketCap. This leap is part of a broader 34% gain observed over the past month, pushing its value beyond the $182 mark.
The momentum behind Solana’s rise could be linked to the broader acceptance of cryptocurrencies in institutional frameworks. With Bitcoin and Ethereum paving the way with the first crypto-based ETFs in the U.S., the market’s confidence in digital assets continues to grow. Solana, in particular, has caught the market’s eye with potential talks of its own ETF by 2025, signaling even greater potential ahead.
As cryptocurrencies dominate discussions in 2024, Solana’s recent performance suggests it may be aiming for the top three spots permanently. Market analysts and enthusiasts alike are watching closely, with many seeing this as just the beginning of a larger upward trend.
PARIS & NASHVILLE, Tennessee | Ledger, the world leader in Digital Asset security for consumers and enterprises, today launched for sale Ledger Flex, its second new product launch in 2024. Released during Ledger’s tenth anniversary, Ledger Flex and the previously released Ledger Stax mark the inception of a new generation of Ledger hardware, featuring secure E Ink® touchscreen displays powered by Ledger’s Secure OS. Ledger Flex is available to purchase today on Ledger.com and through our retail partners around the world for $249, shipping immediately.
Ledger Flex marks the new standard for Ledger devices, featuring NFC and a secure E Ink® touchscreen, at an attractive price point….
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At the 2024 Bitcoin Conference, Jan van Eck, CEO of the investment management firm VanEck, revealed that more than 30% of his portfolio is now in Bitcoin. Van Eck, who manages approximately $100 billion in assets, has consistently promoted Bitcoin as “digital gold,” championing its value as a hedge against the diminishing purchasing power caused by global monetary policies.
Van Eck’s bullish stance on Bitcoin is backed by his belief in its capacity to outperform traditional currencies and its vital role in diversifying investment portfolios. With Bitcoin’s supply constraints and rising demand, Van Eck predicts its value could soar to $2.9 million by 2050. He also highlights the importance of choosing Bitcoin ETFs that support the broader Bitcoin ecosystem.
Further underscoring his commitment to the crypto space, Van Eck has shifted his focus towards the broader implications of blockchain technology, advocating for innovations like Solana and Layer 2 protocols. These, he argues, are essential for reducing transaction fees and fostering the development of practical applications on blockchain platforms. His firm has even filed for a Solana ETF, illustrating a deepening engagement with cryptocurrency beyond Bitcoin.
Casa, a leading provider of Bitcoin self-custody services, has announced an integration with YubiKeys, enabling users to secure their Bitcoin vaults with Yubikeys.
YubiKeys are small physical devices that provide multi-factor authentication and securely store sensitive data like passwords and keys. By integrating support for YubiKeys, Casa members can now use the devices as one of the keys in their multi-signature Bitcoin vaults.
When setting up a YubiKey with Casa, users generate a Bitcoin seed phrase locally on their computer. This seed is then stored on the YubiKey itself, protected by a passkey.
The integration uses passkey cryptography to ensure the seed phrase never leaves the…
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