bitcoin

Bitcoin takes centre stage as America’s new dream

Changpeng Zhao, former CEO of Binance, has declared that owning Bitcoin could soon replace home ownership as the American dream. Zhao praised the FHFA’s directive for Fannie Mae and Freddie Mac to consider cryptocurrencies in mortgage risk assessments.

The FHFA’s order asks these agencies first to explore using cryptocurrencies as mortgage reserve assets without converting them to US dollars. Prospective homeowners could use crypto holdings on regulated US exchanges as part of their mortgage applications if adopted.

FHFA Director Bill Pulte described the move as historic for cryptocurrency and mortgage industries. He credited President Donald Trump for helping position the US as a global crypto hub.

Meanwhile, during a recent White House press briefing, Trump praised Bitcoin, highlighting its benefits for the US dollar.

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India urged to adopt clear Bitcoin strategy

Pradeep Bhandari, spokesperson for India’s ruling Bharatiya Janata Party (BJP), has called for a pilot Bitcoin reserve as part of a strategic move to boost economic resilience. He cites the US’s Bitcoin reserves and Bhutan’s state mining as signs of global finance shifting to crypto.

India’s approach to crypto remains uncertain, with a 30% tax on virtual digital assets but no formal regulatory framework. Under current law, crypto profits are taxed flatly, and a 1% tax is deducted at source on transactions exceeding approximately $115.

Despite this, the lack of regulation has created ambiguity around crypto’s legal status.

Highlighting global developments, Bhandari notes that the US is actively expanding Bitcoin reserves, and three US states have authorised Bitcoin as a reserve asset. He says India’s renewable energy could support a clear Bitcoin strategy that boosts innovation and protects investors.

The BJP spokesperson says a Bitcoin reserve pilot could help India adopt digital assets legitimately and boost its global economic standing with clearer regulations.

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Bitcoin holds strong above $100,000

Bitcoin is trading around $106,533 after returning from early June lows and holding above the key $100,000 mark. Despite brief dips below $99,000 due to geopolitical tensions, strong support remains.

Resistance lies between $105,000 and $107,000, with a potential breakout targeting $112,000 to $114,000.

Technical charts show a possible cup and handle formation and a golden cross, supporting a bullish outlook.

Institutional accumulation and crypto fund inflows suggest continued long-term confidence, though short-term indicators signal caution as Bitcoin nears overbought levels.

Ethereum trades near $2,437, consolidating above $2,400 within a defined range. A cup and handle pattern, a nearing golden cross, and bullish signals indicate possible gains if resistance at $2,589 is surpassed. Recent on-chain buying supports Ethereum’s recovery from a flash dip to $2,224.

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Bitcoin holds firm as tensions rise in the Gulf

Oil markets are on edge after US airstrikes hit three of Iran’s nuclear sites, raising fears of disruption to the Strait of Hormuz. The narrow passage is vital for about 20% of the world’s oil supply.

Any obstruction could drive crude prices up to $130 per barrel and intensify global inflation pressures.

Despite the joint strikes by the US and Israel, Brent crude remains stable for now, hovering near $72 per barrel. Traders are closely watching Iran’s next move and whether shipping through the Strait will be affected.

Bitcoin, in contrast, has shown remarkable resilience. Trading above $102,600, the leading cryptocurrency has not reacted to the military escalation, reinforcing its role as a safe-haven asset during geopolitical uncertainty.

With its fixed supply and decentralised structure, Bitcoin is increasingly being seen as a hedge against inflation and instability. Its steady price amid market anxiety highlights the growing confidence in crypto during global crises.

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Lawsuits pressure Strategy over Bitcoin losses

Michael Saylor’s Strategy, the largest corporate Bitcoin holder, is under pressure after reporting a $5.9 billion unrealised Q1 loss. The loss came after a new FASB rule requiring crypto assets to be valued at market price.

Investors allege the company failed to disclose the impact of the change, resulting in a sharp drop in share price.

The lawsuit, led by investor Abhey Parmar, claims executives breached fiduciary duties by downplaying Bitcoin volatility and misrepresenting the effects of the accounting shift.

CEO Phong Le and CFO Andrew Kang are accused of selling nearly $31.5 million in shares before the changes were made public. The move has raised concerns about insider trading and corporate governance.

A second class-action lawsuit has been filed, intensifying scrutiny of Strategy’s reporting practices. Despite the legal challenges, the company’s stock has gained around 28% year-to-date, reflecting persistent investor interest in its Bitcoin strategy.

Saylor’s cryptic social media activity has sparked speculation about more Bitcoin purchases. With over 592,000 BTC held—worth nearly $60 billion—Strategy’s continued accumulation signals a strong commitment to its crypto-first approach, even as legal risks grow.

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BBVA advises wealthy clients to invest in crypto

BBVA, Spain’s second-largest bank, advises affluent clients to allocate between 3% and 7% of their portfolios to cryptocurrencies, including Bitcoin. The guidance comes just months after Spanish regulators approved the bank’s crypto trading services.

According to Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, the bank has been advising wealthy clients on Bitcoin since September 2024. He noted that a modest crypto allocation can improve portfolio performance without taking on excessive risk.

Client response, he added, has been largely positive.

BBVA has executed crypto trades since 2021 and began active advisory services in late 2024. In March, Spain’s securities regulator authorised BBVA to offer trading in Bitcoin and Ether, with full mobile integration expected in the coming months.

The move aligns with the broader rollout of the EU’s Markets in Crypto-Assets Regulation (MiCA), which occurred at the end of 2024. Meanwhile, Santander is reportedly exploring the launch of euro and dollar-pegged stablecoins to expand its retail crypto services.

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Brazil lawmaker pushes to scrap crypto tax on Bitcoin holders

Brazilian lawmaker Eros Biondini has introduced a draft bill aiming to eliminate cryptocurrency taxes, especially for those holding Bitcoin as a long-term store of value. The proposal seeks to repeal clauses in the tax code and a 2023 law that currently require income tax on crypto profits.

The bill will be reviewed by a committee in the Chamber of Deputies before potentially moving to the Senate and the President, who both hold veto powers.

Biondini argues that new taxes on financial transactions, including foreign exchange and insurance, are poorly timed amid economic fragility. He highlights that Brazil’s tax burden reached its highest in 15 years, amounting to 32.32% of GDP in 2024.

The lawmaker criticised the government for opposing crypto adoption, claiming that existing and proposed tax laws unfairly penalise people seeking safe, sovereign stores of value.

Previously, Biondini also pushed for formal recognition of Bitcoin as a strategic store of value in Brazil. His earlier proposal would exempt Bitcoin holders from tax and confirm their right to self-custody without intermediaries.

In November last year, he unveiled a plan to allocate up to 5% of Brazil’s $372 billion international reserve fund into Bitcoin, signalling a bold approach to national economic sovereignty.

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Quantum computing threatens Bitcoin: Experts debate timeline

Recent breakthroughs in quantum computing have revived fears about the long-term security of Bitcoin (BTC).

With IBM aiming to release the first fault-tolerant quantum computer, the IBM Quantum Starling, by 2029, experts are increasingly concerned that such advancements could undermine Bitcoin’s cryptographic backbone.

Bitcoin currently relies on elliptic curve cryptography (ECC) and the SHA-256 hashing algorithm to secure wallets and transactions. However, both are potentially vulnerable to Shor’s algorithm, which a sufficiently powerful quantum computer could exploit.

Google quantum researcher Craig Gidney warned in May 2025 that quantum resources required to break RSA encryption had been significantly overestimated. Although Bitcoin uses ECC, not RSA, Gidney’s research hinted at a threat window between 2030 and 2035 for crypto systems.

Opinions on the timeline vary. Adam Back, Blockstream CEO and early Bitcoin advocate, believes a quantum threat is still at least two decades away. However, he admitted that future progress could force users to migrate coins to quantum-safe wallets—potentially even Satoshi Nakamoto’s dormant holdings.

Others are more alarmed. David Carvalho, CEO of Naoris Protocol, claimed in a June 2025 op-ed that Bitcoin could be cracked within five years, pointing to emerging technologies like Microsoft’s Majorana chip. He estimated that nearly 30% of BTC is stored in quantum-vulnerable addresses.

‘Just one breach could destroy trust in the entire ecosystem,’ Carvalho warned, noting that BlackRock has already acknowledged the quantum risk in its Bitcoin ETF filings.

Echoing this urgency, billionaire investor Chamath Palihapitiya said in late 2024 that SHA-256 could be broken within two to five years if companies scale quantum chips like Google’s 105-qubit Willow. He urged the crypto industry to start updating encryption protocols before it’s too late.

While truly fault-tolerant quantum machines capable of breaking Bitcoin are not yet available, the accelerating pace of research suggests that preparing for a quantum future is no longer optional—it’s a necessity.

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Bitcoin price climbs as Google searches drop

Bitcoin has surged to around $107,000, close to its all-time high, yet global search interest has dropped to a five-year low. While past price jumps were matched by public curiosity, current data suggests a notable lack of retail attention.

Analysts believe the trend reflects a shift in how Bitcoin is perceived. No longer a fringe phenomenon, the cryptocurrency has matured into a mainstream asset.

Institutional investors, ETFs, and even governments are now the driving force behind Bitcoin’s momentum, with companies such as Ark Invest and Metaplanet continuing to increase their holdings.

Bitwise CEO Hunter Horsley noted the rally appears quieter because corporate players are accumulating Bitcoin strategically, unlike the hype-fuelled surges of previous cycles. Meanwhile, retail interest may be shifting to flashier sectors such as AI tokens and memecoins.

Falling search traffic may signal that Bitcoin has entered a more stable phase. Rather than trending online, it is now being treated as a serious long-term investment — a possible sign of growing market maturity.

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Tether invests in Canadian gold company to strengthen its reserves

Tether has acquired nearly a third of a Canadian gold firm as part of its expanding dual investment strategy in Bitcoin and gold. The firm has bought 78.4 million shares in Elemental Altus for CA$121.5 million, securing 31.9% of the company.

The company, best known for minting USDT, now holds over 100,000 Bitcoin and nearly 80 tons of physical gold. It describes this as a ‘dual pillar strategy’ designed to safeguard value and improve financial resilience amid rising inflation and monetary uncertainty.

Tether CEO Paolo Ardoino said Bitcoin and gold offer complementary protections, with the former being a decentralised hedge and a long-trusted store of value. The company has also issued XAUT, a stablecoin backed by gold, currently valued at over $833 million.

USDT continues to dominate global trading volumes and has gained popularity in emerging markets as a digital dollar alternative. Tether says holding gold and crypto strengthens its traditional and decentralised finance position.

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