bitcoin

Lummis reintroduces bill to boost US Bitcoin holdings

Senator Cynthia Lummis has reintroduced the Bitcoin Act in the US Senate, aiming to authorise the government to purchase up to one million Bitcoin, which would represent about 5% of the total Bitcoin supply.

However, this move is part of an effort to strengthen the nation’s strategic reserves, with funding proposed through Federal Reserve earnings and new certificates for the Fed’s gold holdings.

The Treasury Secretary would oversee the acquisition and management of Bitcoin, with any new purchases held for at least 20 years and restrictions on selling more than 10% of the reserve every two years.

The Bitcoin Act reintroduction signals a continued push to incorporate Bitcoin into the US financial system. Lummis, a vocal advocate for Bitcoin, sees it as vital for America’s financial leadership in the 21st century.

The bill builds on President Trump’s Executive Order that established the Strategic Bitcoin Reserve, aiming to secure the nation’s digital assets while addressing the national debt.

In addition to federal efforts, Texas has introduced a bill proposing the acquisition of up to $250 million in Bitcoin and other cryptocurrencies, potentially making it the first state in the US to hold Bitcoin on its balance sheet.

These initiatives at both state and federal levels reflect a growing acceptance of Bitcoin as a legitimate financial asset.

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Saylor proposes a Bitcoin strategy to unlock trillions for the US economy

Michael Saylor has unveiled an ambitious cryptocurrency strategy at the White House Digital Assets Summit, arguing that the US could unlock up to $100 trillion in economic value over the next decade.

He called for clear regulations, the removal of barriers to innovation, and a strategic acquisition of bitcoin to strengthen the financial system.

Saylor proposed a four-part framework for digital assets, categorising them into digital tokens, securities, currencies, and commodities like Bitcoin.

His plan aims to reduce regulatory uncertainty, ensure the US dollar remains dominant in global trade, and integrate cryptocurrencies into mainstream finance.

He also urged the government to support major banks in holding and trading Bitcoin while ending what he described as ‘hostile’ tax policies towards the industry.

The summit, seen as a shift towards a more crypto-friendly stance under Trump’s administration, gathered industry leaders from Coinbase, Ripple, Kraken, and others.

A key part of Saylor’s vision includes a US Bitcoin reserve, with the country acquiring 5% to 25% of the total Bitcoin supply by 2035. He projected this could generate up to $81 trillion by 2045, offering a long-term solution to national debt challenges.

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Mark Carney criticises Bitcoin as Canada’s new prime minister

Mark Carney has been elected as Canada’s new prime minister, succeeding Justin Trudeau. Carney, a former central banker and long-time critic of Bitcoin, made headlines in 2018 when he called the digital currency’s fixed supply a ‘serious deficiency.’ He argued that recreating a global gold standard like Bitcoin would be a ‘criminal act of monetary amnesia,’ highlighting the speculative risks of the cryptocurrency market.

Carney’s stance on Bitcoin is at odds with some political figures, including former Prime Minister Trudeau, who also expressed scepticism about the crypto market. Carney has instead championed central bank digital currencies, seeing them as a tool to increase financial inclusion and combat economic crime. He also served as a board member for Stripe, a payments company that embraced crypto solutions between 2022 and 2024.

In his victory speech on 9 March, Carney also focused on addressing US tariffs, condemning President Donald Trump’s trade policies. Carney vowed that Canada would continue to retaliate with tariffs, asserting that the country would never be part of the US, no matter the circumstances.

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Spanish bank BBVA gains approval for crypto trading

Spanish banking giant BBVA has received approval from the country’s financial regulator to offer Bitcoin and Ether trading to its clients.

The lengthy process, which began years ago, is now complete after the bank awaited clear regulations under the EU’s MiCA framework.

BBVA initially explored launching crypto services in Switzerland due to its established regulatory environment, but with MiCA now fully in effect, the bank has secured approval in Spain.

BBVA’s recent expansion into crypto trading in Turkey through a local subsidiary led to this development.

Other major European banks have also entered the crypto space, with Deutsche Bank developing an Ethereum rollup and Société Générale launching a euro stablecoin. BBVA’s move signals the growing institutional adoption of digital assets globally.

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Trump-backed World Liberty buys $20m worth of crypto before summit

World Liberty Financial, a decentralized finance (DeFi) project backed by the Trump family, has made a significant $20 million investment in digital assets ahead of the White House’s first-ever crypto summit on 7 March.

The purchase includes $10.1 million in Ether, $9.9 million in Wrapped Bitcoin, and $1.68 million in Movement Network’s MOVE token. The move has attracted attention due to its timing, with the summit set to explore the future of crypto policy and the potential creation of a Bitcoin reserve.

World Liberty, launched by President Trump’s family in September, aims to allow crypto holders to trade and earn interest on assets without relying on centralised intermediaries.

The project has raised some eyebrows due to a previous report alleging attempts to swap its forthcoming WLFI tokens with other projects, though the company has denied any wrongdoing, clarifying that asset reallocations are for regular business purposes.

The timing of this large acquisition has sparked curiosity, especially with discussions about establishing a US crypto reserve at the summit. Adding to the intrigue, David Sacks, the US crypto czar, criticised past sales of Bitcoin by the government, which resulted in significant losses for taxpayers.

With the summit expected to feature key figures in the crypto industry, it remains to be seen how these developments will shape US policy on digital assets in the future.

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Trump orders creation of Strategic Bitcoin Reserve

President Trump has signed an executive order to establish a Strategic Bitcoin Reserve, aiming to safeguard seized Bitcoin as a national asset.

The reserve will be funded solely through Bitcoin obtained via asset forfeiture, ensuring no financial burden on taxpayers. White House AI and Crypto Czar David Sacks estimated that the government holds around 200,000 BTC, though an official audit is yet to be conducted.

The order mandates a full inventory of the government’s digital assets and bans the sale of Bitcoin from the reserve, likening it to a ‘digital Fort Knox’.

A separate Digital Asset Stockpile will be created to store non-Bitcoin cryptocurrencies seized in legal actions, but the government will not purchase additional crypto beyond this method.

Trump’s administration has also tasked the Treasury and Commerce Departments with exploring ways to expand the Bitcoin reserve without any extra cost to taxpayers.

Sacks criticised previous government Bitcoin sales, stating they cost the country over $17 billion in lost value. By halting these sell-offs, the new policy could reduce Bitcoin’s circulating supply, potentially reinforcing its status as a strategic asset similar to gold.

While the market has yet to react, the move signals a long-term shift in US crypto policy, supporting Trump’s vision of making the country the global leader in digital assets.

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Cryptocurrency adoption surges with over 824 million people owning digital assets

A new report from venture capital firm Epoch reveals that over 824 million people globally now own some form of cryptocurrency, marking a significant surge in adoption.

Rapid growth is largely fuelled by strong price performance, increasing institutional interest, and the rise of accessible investment options such as Bitcoin ETFs. Bitcoin continues to lead the charge, with an estimated 422 to 455 million owners, or roughly 5% of the world’s population.

While cryptocurrency ownership has traditionally been dominated by younger men, the study notes a shift in demographics, with more women now entering the space.

Approximately 13% of women aged 26 to 45 report owning Bitcoin, a figure influenced by ‘ownership by association’ through spouses or partners. The shift highlights the growing legitimacy and accessibility of digital assets, especially with traditional financial institutions backing crypto ETFs.

Institutional and corporate investments are further accelerating crypto adoption. The launch of Bitcoin ETFs has provided a regulated pathway for large investors, while corporations like Microsoft and Amazon are exploring Bitcoin as a reserve asset.

The report predicts that if the top ten US companies allocated just 5% of their cash reserves to Bitcoin, it would result in a $40 billion inflow into the market.

Looking ahead, the study suggests that nation-states are also considering Bitcoin as part of their reserves. With Bitcoin’s unique characteristics, such as liquidity, scarcity, and independent custody, it could potentially surpass gold as a sovereign reserve asset in the coming decade.

The continued growth in adoption signals a promising future for cryptocurrencies, bolstered by increasing awareness and new use cases.

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New Hampshire moves closer to allowing Bitcoin investments

New Hampshire’s Bitcoin bill has cleared a major hurdle, passing the House Commerce and Consumer Affairs Committee with a 16-1 vote. The bill now moves to the House floor, where lawmakers will decide whether to allow the state treasurer to invest up to 5% of certain state funds in Bitcoin. While the bill does not mention Bitcoin by name, it limits investments to digital assets with a $500 billion market cap, making Bitcoin the only eligible cryptocurrency.

Introduced by Republican Keith Ammon and co-sponsored by Democrats Chris McAleer and Carry Spier, the bill originally proposed a 10% allocation but was later amended to 5%. It also permits investments in gold, silver, and platinum while removing provisions for stablecoins and staking. Treasurer Monica Mezzapelle has expressed interest in using the bill’s framework if it becomes law.

New Hampshire joins several US states, including North Carolina, Oklahoma, and Texas, in advancing Bitcoin-related legislation. Meanwhile, at the federal level, former President Donald Trump has proposed a Crypto Strategic Reserve, which is expected to be composed primarily of Bitcoin.

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El Salvador faces new IMF restrictions on Bitcoin transactions

The International Monetary Fund (IMF) has urged El Salvador to stop public-sector Bitcoin purchases as part of its $1.4 billion funding deal with the country. In newly issued documents, the IMF stressed that the government should not voluntarily accumulate Bitcoin or issue any debt instruments tied to it.

Méndez Bertolo, the IMF’s executive director for El Salvador, stated that the fund aims to improve governance, transparency, and economic resilience while mitigating Bitcoin-related risks.

Recent amendments to the Bitcoin Law have clarified Bitcoin’s legal nature, ensuring that its acceptance remains voluntary and that tax payments continue in US dollars. The public sector’s role in Bitcoin adoption has also been scaled back.

The IMF reaffirmed its stance that El Salvador’s Bitcoin engagement should remain limited, in line with international financial policies.

The government has committed to enhancing regulation and supervision of digital assets, aligning with evolving global standards. Despite these restrictions, President Nayib Bukele has continued to acquire Bitcoin, with the country’s holdings now reaching 6,100 BTC.

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Australia rules out strategic crypto reserve

Australia’s government has ruled out creating a strategic cryptocurrency reserve, despite the US pressing with plans to hold assets like Bitcoin, Ether, XRP, Solana, and Cardano. The Albanese government remains focused on regulating the digital asset sector rather than following the US lead. A spokesperson for the Assistant Treasurer confirmed that efforts are concentrated on developing a clear regulatory framework rather than acquiring crypto.

Meanwhile, the opposition coalition, which could return to power in the upcoming election, has not yet decided whether it would reconsider the decision. Some industry experts believe that while a crypto reserve is an interesting concept, it carries risks due to market volatility and concentration concerns. Others suggest a sovereign wealth fund investing in crypto could be a more viable alternative.

Despite rejecting a national reserve, Australia remains a growing player in the crypto space. Regulators have ramped up oversight, with new anti-money laundering measures and proposed authorisation rules for crypto firms. The country has also become a hub for Bitcoin and crypto ATMs, now ranking third globally with over 1,453 machines.

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