BTC Weekly: Week 3 (2025)
Key Events from 1/12/2025-1/18/2025
Donald Trump, set for inauguration next Monday, is considering a Bitcoin stockpile as a Day 1 initiative after campaigning on a pro-Bitcoin platform. (New York Times) On Friday, the incoming president also launched a meme coin. (Forbes)
Oklahoma, Wyoming, and Massachusetts are the latest states now considering legislation to establish Bitcoin strategic reserves. (CryptoSlate)
Italy’s largest bank, Intesa Sanpaolo, becomes the country’s first to invest in cryptocurrency with a $1M purchase of Bitcoin. (Decrypt)
Pension funds in the United Kingdom and Australia have recently made small allocations to Bitcoin. (Financial Times)
Prime Minister Anwar Ibrahim is urging his cabinet to expedite consideration of cryptocurrency technology into Malaysia's financial system, stating “so we aren't left behind” and “we should not sit idly by.” (StraitsTimes)
Tether (USDT), stable coin giant, announced its plan to move its headquarters to Bitcoin friendly El Salvador with plans to hire 100 Salvadorans over the next several years. (Reuters)
Lead Benefit, a Hong Kong subsidiary of Ming Shing, announces a purchase of approximately $47M in Bitcoins. (Ming Shing)
MicroStrategy (MSTR) announces another $243M purchase of Bitcoins, bringing its total to $28.2B. (MicroStrategy)
Semler Scientific (SMLR) announces a purchase of $23.3M of Bitcoins, bringing its total to $191.9M. (Semlar Scientific)
BlackRock ($11.75T AUM) reports that cryptocurrency adoption has outpaced the growth of mobile phones and the internet, by reaching 300 million users in just 12 years. (BlackRock)
Summary
The United States is poised to potentially establish a Bitcoin stockpile upon Donald Trump’s inauguration, reflecting his campaign's pro-Bitcoin stance, while states like Oklahoma, Wyoming, and Massachusetts are considering their own Bitcoin strategic reserves. Italy's largest bank, Intesa Sanpaolo, has made its first Bitcoin purchase, following similar moves by pension funds in the UK and Australia. In Malaysia, Prime Minister Anwar Ibrahim is pushing for quicker integration of cryptocurrency into the financial system to avoid being left behind. Meanwhile, Tether, a major stablecoin issuer, is relocating to Bitcoin-friendly El Salvador with plans for significant local employment. In corporate news, Hong Kong's Lead Benefit, a Ming Shing subsidiary, invested $47 million in Bitcoin, and companies like MicroStrategy and Semler Scientific have continued their aggressive Bitcoin acquisition strategies. Finally, BlackRock notes that the adoption rate of cryptocurrency has surpassed that of mobile phones and the internet, reaching 300 million users in just 12 years.