Arizona Now 2nd State To Establish Bitcoin Reserve
After vetoing a earlier bill, Arizona Governor Katie Hobbs signed House Bill 2749 into law that will allow Arizona to keep unclaimed crypto and create a Bitcoin Reserve Fund. Adding to the Bitcoin fund will not cost any taxpayer money or state funds and will be done via abandoned digital assets and by staking crypto. Another crypto bill Senate Bill 1373 is also sitting on the governor's desk that would authorize Arizona's treasurer to allocate up to 10% of the Budget Stabilization Fund into Bitcoin. Just one day after New Hampshire we now have 2 states that have approved Bitcoin reserves with many more states to follow. Exciting times to come as more states across the US join the Party!
Strive Asset Management
A newly combined merger with Strive and Asset Entities has lead to the creation of the first publicly traded Bitcoin treasury company. Strive will oversee $2 Billion of assets and will aggressively purchase and obtain Bitcoin via some new financial products. Stock ASST has shot up 800%-1000% in the last 2 days. Strive CEO Matt Cole just presented the Bitcoin for Companies conference and discussed some of these new products. One of those products includes a Bitcoin for equity tax free exchange structured under Section 351 where investors could trade their Bitcoin into Strive stock tax free. The has the potential to draw as much as $1 Billion worth of Bitcoin for investors looking to defer capital gains. The Strive team is also worth mentioning cofounded by Vivek Ramaswamy and Anson Frericks, with Peter Thiel and vice president JD Vance all listed as financial backers.
Bitcoin Becomes #5
Bitcoin just passed Amazon for the 5th largest asset in the entire WORLD! Its unreal how the vast majority of people still do not understand Bitcoin.
Quick Hits
- Crypto exchange giant Coinbase just purchase Derabit for $2.9 Billion, marking the largest acquisition in the industry history.
- OCC just ruled that Banks can buy and trade Bitcoin and Crypto for customers.
- Blackrock is recommended a 2% Bitcoin allocation to all institutions.
- Michael Saylor predicts that over 700 public companies will be buying Bitcoin by 2026.
- Indian public company Jetking is raising billions to buy 18k Bitcoins.
