Fed Chair Jerome Powell: "Banks are perfectly able to serve crypto customers as long as they understand and can manage the risks" and “We’re not against innovation.” (@BitcoinNewsCom)
Financial Times: “The head of the Czech National Bank wants to plough billions of euros’ worth of the country’s reserves into bitcoin, a groundbreaking move that could make it the first western central bank known to hold crypto assets.” (Financial Times)
Norway’s sovereign wealth fund, the world’s largest with over $1.5T in assets, has increased its indirect exposure to Bitcoin, now holding 3,821 BTC through investments in companies like MicroStrategy—where it owns $514M worth of shares—along with Riot, MARA, Coinbase, Canaan, and Metaplanet. (Investing.com)
Trump Media’s (DJT) board of directors approved plans to allocate cash funds into various investment options, including Bitcoin and other cryptocurrencies. (Reuters)
Arizona and Utah are advancing legislation to establish Bitcoin reserves, with Arizona's bill having passed a Senate committee and moving to the Senate Rules Committee, while Utah's bill has cleared a key committee but still needs approval from both legislative chambers and the governor to become law. (CryptoSlate)
Dan Patrick, Lieutenant Governor of Texas, announces “Establishing the Texas Bitcoin Reserve” as a priority senate bill. (Dan Patrick)
Tesla (TSLA) marked up its Bitcoin holdings valuation in Q4, booking a $600M gain thanks to new FASB accounting rules that allow for recognizing unrealized gains from cryptocurrency investments. (CoinDesk)
MicroStrategy (MSTR) has acquired another $1.1B in BItcoin, bringing its total to $30.4B. (MicroStrategy)
Nuvve Holding (NVVE) announced its board of directors has approved Bitcoin as a primary asset in the company’s treasury by allocating up to 30% of its excess cash. (TipRanks)
Cipher Mining (CIFR) announced a $50M investment from SoftBank through a PIPE transaction, with SoftBank purchasing approximately 10.4 million shares of Cipher's common stock. (Cipher Mining)
Summary
This week, Federal Reserve Chairman Jerome Powell stated "Banks are perfectly able to serve crypto customers as long as they understand and can manage the risks" and emphasized "We’re not against innovation." Meanwhile, the head of the Czech National Bank proposed a pioneering move to invest billions of euros of the country's reserves into Bitcoin, potentially making it the first Western central bank to hold crypto assets. Norway's sovereign wealth fund, managing over $1.5T, has indirectly increased its Bitcoin exposure through investments in companies like MicroStrategy, where it holds $514M worth of shares, along with Riot, MARA, Coinbase, Canaan, and Metaplanet. Trump Media's board approved diversifying cash into cryptocurrencies including Bitcoin. Arizona and Utah are advancing legislation to create Bitcoin reserves. Texas Lieutenant Governor Dan Patrick announced a priority bill to establish a Bitcoin reserve for the state. Tesla reported a $600M gain on its Bitcoin holdings thanks to new FASB accounting rules. MicroStrategy added another $1.1B in Bitcoin, totaling $30.4B, while Nuvve Holding approved allocating up to 30% of its excess cash to Bitcoin. Lastly, Cipher Mining secured a $50M investment from SoftBank through a PIPE transaction.