Corporate Treasuries, States and Nations onboarding BTC
It should come as no surprise that more and Corporate, State and Nation treasuries are purchasing and holding BTC in their treasuries. Let's jump in to recent events, announcements etc.
Corporate Level
Genius Group to invest $120 million worth of #Bitcoin, making it their primary treasury asset.
US State level
- Detroit MI started accepting BTC for payments (thus far the largest City accepting BTC), this begins in 2025 w/ PayPal's assistance
- Jersey City pension fund’s path to BTC exposure
- Pennsylvania House moves to establish Bitcoin as a strategic reserve asset
- Florida is considering BTC stockpile
- Assume that other US states are working with Satoshi Act Fund to plan for their own BTC reserves
Country level
- El Salvador #Bitcoin investment surpasses $525 million profit.
- USA is moving forward creating Strategic Bitcoin Reserve (SBR), its easy to assume IF this comes to fruition it will apply pressure to other countries and their Central Banks to acquire BTC too.
Polymarket called the recent US Election and now has odds at 54% published for SBR in the USA
Investment Level accumulation
- Cathie Wood CEO of ARK Invest predicts #Bitcoin will reach $1.5 million by 2030.
- Goldman Sachs held $718 Million of Bitcoin ETFs at the end of Q3. $BTC In just 6 weeks since these holdings are already up 41%, reaching over $1 Billion in value!
- Satoshi-era #Bitcoin wallet moves 2,000 $BTC worth $178 million for the first time since 2010, no need to worry its prolly nothing! Hey look a another ship full of shiny stuff from overseas.
- Michael Saylor of MicroStrategy (MSTR) stated that BTC reserve is the best way to protect the US $. Micheal stated earlier this week BTC will hit $13,000,000 over the next two decades.
- Recall they have increased their BTC holdings to $23B worth
What's changed?
- SEC Chair Gensler to resign by Thanksgiving (Nov. 28th 2024)
- Many expect SEC to drop XRP case appeal IF this resignation happens.
- Manhattan US Attorney's Office to reduce its pursuit of crypto cases.
- Investors withdraw appeal and legal motion against Elon Musk, accusing him of rigging Dogecoin $DOGE and conducting insider trading
Summary
Crypto days are brighter and lighter in the past week here in the Good Ole USA. How is your plan coming together?
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