bitcoinlfg

Tag: Bitcoin

  • Strategy plans to offer five million shares with new preferred stock to purchase additional Bitcoin

    Strategy plans to offer five million shares with new preferred stock to purchase additional Bitcoin

    Coinbase will delist Wrapped Bitcoin (WBTC) on December 19, 2024

    • The shares will accumulate cumulative dividends at a fixed rate of 10% each year
    • Strategy said that dividend payments will begin paying out on June 30, 2025
    • To date, Strategy holds under 500k Bitcoin, valued at over $40 billion

    Strategy is planning to offer five million shares of the company’s Series A perpetual strife preferred stock, $STRF, as it works on acquiring more Bitcoin.

    In an announcement, Michael Saylor’s Strategy said it intends to use the proceeds for “general corporate purposes,” including the “acquisition of Bitcoin.” However, it noted that this was “subject to market, and other conditions.”

    According to the company, the shares will accumulate cumulative dividends at a fixed rate of 10% per year. Dividends will be paid out beginning on June 30, 2025 “out of funds legally available for their payment,” Strategy said.

    Raising funds for Bitcoin

    The news comes as Strategy announced earlier this month that it’s planning to issue and sell shares of up to $21 billion in its at-the-market (ATM) program.

    Through selling shares of its 8.00% Series A perpetual strike preferred stock, $STRK, Strategy said the additional capital will be used for general corporate operations, including the purchase of more Bitcoin.

    The latest news also follows a recent Bitcoin purchase Strategy made in an announcement yesterday. In a post on X, Saylor said it had acquired 130 Bitcoin for $10.7 million at an average price of $82,981 per Bitcoin.

    To date, Strategy now holds 499,226 Bitcoin, valued at $40.92 billion, according to SaylorTracker.com.

    Peter Schiff, a long-time opponent of Bitcoin, commented on Saylor’s tweet, saying: “Is that all you bought?  Seems like you are running out of fire power.”

    Crypto prices decline

    News of Strategy’s recent Bitcoin purchase and its share offering comes as crypto prices across the market have seen a sharp decline.

    At the time of publishing, Bitcoin is trading around $81,000, a substantial drop from its all-time high of $109,000 reached in January ahead of US President Donald Trump’s inauguration.

    Market conditions and geopolitical issues continue to impact prices despite Trump signing an executive order in March to create a Strategic Bitcoin Reserve.

    Share this article
    Categories
    Tags



    Source link

  • Bitcoin Pepe presale nears $5M as Bitcoin price rebounds

    Bitcoin Pepe presale nears $5M as Bitcoin price rebounds

    Bitcoin Pepe presale nears $5M as Bitcoin price rebounds

    • Bitcoin Pepe presale nears $5M as Bitcoin (BTC) hits $85,263.
    • Whales are buying BTC en mass, boosting confidence in Pepe’s L2 vision.
    • The current Bitcoin Pepe presale price of $0.0281 offers a great entry point before the anticipated Q2 listing.

    As Bitcoin’s price rebounds, hitting an intraday high of $85,263.29 on CoinMarketCap and reclaiming its 200-day moving average, the crypto market is buzzing with renewed energy. Amid this rebound, Bitcoin Pepe, a pioneering layer 2 solution building Solana-style scalability on Bitcoin, is closing in on a $4.9 million presale haul.

    With the world’s only Bitcoin meme ICO going viral, investors are eyeing a massive upside as BTC bulls regain momentum and whales accumulate during the dip.

    Bitcoin’s rally fuels meme coin momentum

    Bitcoin’s climb to $85,263.29, up 4.9% in just 24 hours, reflects a broader risk-on sentiment sweeping both crypto and traditional markets. The S&P 500 and Nasdaq rose 1.7% and 2.3%, respectively, signaling a return of investor confidence.

    This backdrop couldn’t be timelier for Bitcoin Pepe, now in Stage 7 of its 30-stage presale. Priced at $0.0281, each stage brings a 5% price hike, offering early adopters like those in Stage 1 a 33.8% gain already—hinting at Solana’s early days when it soared from $0.22 in 2020.

    As short-term BTC holders panic-sell at a loss, Bitcoin Pepe’s vision of uniting memes on BTC’s secure foundation is striking a chord.

    The project’s audited smart contracts and doxxed team add credibility to its bold claim of transforming Bitcoin into the future home of meme coin trading.

    With whales snapping up BTC during this dip, as noted by trader Quinten Francois on X, the market’s big players seem to share a bullish outlook.

    Amid this whale accumulation, Bitcoin Pepe’s PEP-20 token standard promises to spark a token creation boom on BTC, much like Ethereum’s ERC-20 did, positioning it to capture the $2 trillion of dormant BTC capital ready to flood into meme mania.

    Presale urgency grows with market shifts

    With $4,879,100 raised and counting, Bitcoin Pepe’s presale is heating up as it approaches its Q2 2025 listing. The current Stage 7 price of $0.0281 jumps to $0.0295 in Stage 8, and savvy investors are rushing to lock in gains before the next increase.

    This urgency aligns with market trends—analyst Bob Loukas predicts Bitcoin (BTC) and stocks have “more room to run” after bouncing from oversold levels.

    For Bitcoin Pepe, this could mean a perfect storm: a strengthening BTC paired with a layer 2 poised to deliver Solana-speed transactions and ultra-low fees.

    The project’s staking rewards further sweeten the deal, offering holders passive income with APYs up to 10,000% for long-term pools, blending boomer security with zoomer gains.

    As Bitcoin reasserts its dominance, Bitcoin Pepe’s mission to onboard the next billion users through a retail-friendly, meme-driven experience feels more attainable. Investors joining now, ahead of the Q2 DEX and CEX listings, are betting on a future where BTC isn’t just digital gold but the epicenter of meme coin chaos.

    To learn more, visit the official Bitcoin Pepe website.

    Share this article
    Categories
    Tags



    Source link

  • REX Shares launches REX Bitcoin Corporate Treasury Convertible Bond ETF

    REX Shares launches REX Bitcoin Corporate Treasury Convertible Bond ETF

    REX Shares launches REX Bitcoin Corporate Treasury Convertible Bond ETF

    • REX Shares has launched BMAX ETF for Bitcoin treasury bonds.
    • BMAX offers debt stability and equity upside via Strategy.
    • The fund carries risks like volatility and regulatory scrutiny.

    On March 14, 2025, REX Shares, a Miami-based innovator in exchange-traded products, unveiled a groundbreaking financial instrument: the REX Bitcoin Corporate Treasury Convertible Bond ETF, trading under the ticker NASDAQ: BMAX.

    This first-of-its-kind fund offers investors a unique opportunity to tap into convertible bonds issued by companies that hold Bitcoin (BTC) on their balance sheets.

    With Bitcoin’s price climbing 2.1% to $83,400 and Strategy (formerly MicroStrategy) gaining 5.1% in morning trading on launch day, the timing underscores growing interest in Bitcoin-linked corporate strategies.

    A convertible Bitcoin treasury bond for retail investors

    The concept behind BMAX traces back to a playbook pioneered by Michael Saylor, Chairman of Strategy. His company famously began stacking Bitcoin on its balance sheet, funding the purchases partly through convertible bonds and new stock offerings.

    Other firms followed suit, creating a niche asset class that blends the stability of debt with the growth potential of equity.

    However, until now, these bonds were largely out of reach for individual investors, locked behind complex market barriers. BMAX changes that, packaging this strategy into a single, actively managed ETF that simplifies access for retail investors and advisors alike.

    Greg King, CEO of REX Financial, hailed the launch of the REX Bitcoin Corporate Treasury Convertible Bond ETF as a milestone. “BMAX is the first ETF giving everyday investors a shot at convertible bonds tied to companies embracing Bitcoin as a treasury asset,” he said.

    With over $6 billion in assets under management, REX is no stranger to alternative-strategy ETFs, and BMAX fits squarely into its mission of delivering innovative exposure. The fund’s concentrated focus zeroes in on issuers like Strategy, a heavyweight in Bitcoin-backed debt, offering a regulated way to ride the crypto wave without directly owning Bitcoin.

    What sets BMAX apart is its hybrid appeal. Convertible bonds, by nature, carry traits of both debt and equity. They provide a steady income stream like traditional bonds but can convert into stock, capturing upside if the issuing company’s share price soars—say, on a Bitcoin rally.

    For investors wary of Bitcoin’s wild price swings, BMAX offers a more conservative entry point, balancing debt’s relative calm with equity’s potential kick. It’s a middle ground for those intrigued by crypto but hesitant to dive in headfirst.

    BMAX’s risks

    Still, BMAX isn’t without its hazards. The fund’s prospectus lays out a laundry list of risks, from Bitcoin’s notorious volatility to the unique challenges faced by companies like Strategy.

    These “Bitcoin Corporate Treasury Companies” grapple with speculative hype, regulatory scrutiny, and accounting quirks—like impairment losses when the Bitcoin (BTC) price dips.

    Strategy, a key holding due to its outsized market cap, adds its own layer of risk, tied to both its Bitcoin hoard and its legacy software business.

    Interest rate shifts, liquidity concerns, and even tax implications (BMAX is taxed as a C-corporation, unlike most ETFs) further complicate the picture.

    However, despite the risks, BMAX signals a maturing crypto market where indirect exposure is gaining traction. Distributed by Foreside Fund Services, LLC, and backed by REX’s expertise, the ETF opens a door to a strategy once reserved for institutional players.

    As Bitcoin cements its role in corporate treasuries, BMAX offers a fresh lens on the intersection of traditional finance and digital assets—proving that innovation, even in ETFs, keeps pace with a fast-evolving world.

    Share this article
    Categories
    Tags

    Source link

  • Bitcoin ETF investors hold strong despite a 25% BTC price drop: Here’s why

    Bitcoin ETF investors hold strong despite a 25% BTC price drop: Here’s why

    • US Bitcoin ETFs collectively manage $115 billion in assets
    • Since mid-February, Bitcoin ETFs have witnessed total outflows of nearly $5 billion
    • Bitcoin’s decline continues as selling pressure intensifies

    Even as Bitcoin’s price has tumbled 25% since the start of 2025, a staggering 95% of investors in US spot Bitcoin ETFs have held firm, resisting the urge to sell.

    Despite market volatility and macroeconomic uncertainties, Bloomberg data suggests that the overwhelming majority of ETF holders remain unfazed, showcasing strong conviction in Bitcoin’s long-term potential.

    Bitcoin ETFs show resilience 

    Bloomberg ETF strategist James Seyffart reported that inflows into Bitcoin ETFs have slightly declined to $35 billion, down from their $40 billion peak.

    However, this still represents over 95% of investor capital remaining in ETFs, even as Bitcoin’s price struggles.

    Institutional investors, including Goldman Sachs, continue to maintain significant exposure, with more than $1.5 billion invested in Bitcoin ETFs.

    As of now, US Bitcoin ETFs collectively manage $115 billion in assets, underscoring the staying power of both retail and institutional investors despite the crypto market downturn.

    Bitcoin ETF outflows persist

    Since mid-February, Bitcoin ETFs have witnessed total outflows of nearly $5 billion.

    On March 13 alone, outflows reached $135 million, according to Farside Investors.

    However, BlackRock’s iShares Bitcoin Trust (IBIT) remains an exception, attracting net inflows of $45.7 million amid the broader sell-off.

    Bitcoin price faces pressure 

    Bitcoin’s decline continues as selling pressure intensifies due to macroeconomic concerns, including the Trump administration’s ongoing tariff battle.

    While BTC briefly surged above $84,000 following the release of US CPI data on Wednesday, it failed to hold above key resistance levels.

    At press time, Bitcoin is trading at $81,953, down 1.56% on the day, with daily trading volume dropping 22% to under $30 billion.

    According to Coinglass data, 24-hour liquidations have spiked to $75 million, with $52 million in long positions being wiped out.

    CryptoQuant CEO Ki Young Ju noted that Bitcoin demand appears “stuck” at current levels but emphasized that it is still “too early to call it a bear market.”

    Long-term Bitcoin holders continue accumulating

    Despite Bitcoin ETF outflows, on-chain data reveals that long-term holders are accumulating more BTC.

    Crypto analyst Ali Martinez reported that these investors have added over 131,000 BTC to their wallets in the past month alone, signaling confidence in Bitcoin’s long-term trajectory.

    With Bitcoin’s price volatility and ETF outflows persisting, the coming weeks could be crucial in determining whether investors’ diamond hands will hold firm or if selling pressure will intensify.

    Share this article
    Categories
    Tags

    Source link

  • Nasdaq-listed video-sharing platform Rumble invests $17.1M in Bitcoin (BTC)

    Nasdaq-listed video-sharing platform Rumble invests $17.1M in Bitcoin (BTC)

    Nasdaq-listed video-sharing platform Rumble invests $17.1M in Bitcoin (BTC)

    • Rumble bought 188 Bitcoin (BTC) for $17.1M, nearing its $20M goal.
    • Rumble’s CEO sees BTC as an inflation hedge and crypto tie-in.
    • Future Rumble BTC purchases depend on market and cash flow conditions.

    Rumble, a Nasdaq-listed video-sharing platform and cloud services provider trading under the ticker RUM, has purchased $17.1 million worth of Bitcoin (BTC).

    Rumble acquired approximately 188 BTC at an average price of $91,000 per coin, aligning with its previously disclosed plan to diversify its corporate treasury.

    The purchase is part of a broader treasury strategy outlined late last year, when Rumble revealed intentions to allocate up to $20 million of its cash reserves to Bitcoin. With this transaction, the company has nearly reached that cap, spending $17.1 million to bolster its holdings.

    CEO Chris Pavlovski emphasized the strategic value of the move in a press release shared with media houses, noting that Bitcoin serves as a hedge against inflation and remains immune to the dilution that plagues many government-issued currencies.

    For a company positioning itself as a key player in both video content and cloud services, this investment underscores a deliberate push into the crypto ecosystem.

    Rumble’s forays into crypto

    Rumble’s leadership views Bitcoin not just as a financial asset but as a cornerstone of its identity within the crypto community.

    Pavlovski highlighted the company’s excitement about officially holding BTC, suggesting it strengthens Rumble’s appeal as a platform for crypto enthusiasts. This sentiment builds on a $775 Million Strategic Investment from Tether, the leading stablecoin issuer, further solidifying its ties to the cryptocurrency industry.

    The BTC purchase, therefore, is less a standalone decision and more a continuation of Rumble’s evolving relationship with digital assets.

    Rumble’s journey into Bitcoin comes with a clear acknowledgment of the risks involved, as outlined in its forward-looking statements. The company cautioned that its actual results could differ from expectations due to Bitcoin’s price swings, regulatory hurdles, and its ability to sustain growth in a crowded market.

    Additional concerns include cybersecurity threats, reliance on third-party vendors for core services, and the challenge of maintaining advertiser relationships—issues that could complicate its ambitions. Despite these uncertainties, Rumble remains committed to its vision of weaving cryptocurrency into its operational DNA.

    Founded with a mission to counter the dominance of Big Tech by offering an independent infrastructure, Rumble sees its Bitcoin (BTC) investment as a natural extension of its ethos. The company, which also launched Rumble Cloud to diversify its offerings, is betting that embracing decentralized assets like BTC will resonate with its user base and bolster its financial resilience.

    As Pavlovski put it, this is about more than just treasury management—it’s about ingraining crypto into the company’s future.

    Whether this gamble pays off will depend on both Bitcoin’s trajectory and Rumble’s ability to navigate the unpredictable waters of tech and finance.

    Share this article
    Categories
    Tags



    Source link

  • Bitcoin drops to $76k after Trump fails to rule out a recession

    Bitcoin drops to $76k after Trump fails to rule out a recession

    Bitcoin dips to $86k

    • Ether dropped 9%, XRP fell 2%, and Dogecoin lost over 8% in 24 hours
    • Investors react to Trump’s comments about a possible recession
    • The US stock market lost more than $1.7 trillion in value

    Crypto prices have fallen across the board, with Bitcoin dropping below $77,000 as investors continued to react to US President Donald Trump’s tariff policies and the Bitcoin reserve plan.

    Bitcoin’s price at $76,000. Source: CoinMarketCap

    In the early hours of Tuesday, March 11, Bitcoin fell to $76,000, a figure not seen since last September. In a post on X, crypto trader Ali said:

    “If #Bitcoin $BTC holds $80,000, the bull case remains strong. Losing this level, however, could put $69,000 in play as the next key support!”

    Bitcoin has risen slightly and is back up around $81,600 at the time of publishing, according to CoinMarketCap. Ether, on the other hand, was down over 9% in 24 hours to $1,920, XRP had fallen more than 2%, at $2.13, and Dogecoin was down over 8.81% to $0.1607.

    The market reacts

    News of the continued market sell-off comes as investors react to Trump’s trade tariffs, the announcement of the US Strategic Bitcoin Reserve, and the possibility of a recession.

    Following Trump’s remarks, the US stock market lost more than $1.7 trillion in value yesterday. Elon Musk’s Tesla saw its shares drop by at least 15% to $222, losing over half its value from its December peak at $479.86. In a post on X, Musk said: “it will be fine long-term.”

    Market conditions haven’t been helped by Trump’s trade tariffs on Canada, China, and Mexico. Last month, it was confirmed that Trump was imposing a 25% trade tariff on Canada and Mexico; however, this has been delayed until April 2. China had a 20% tariff levied against it.

    BitMEX co-founder Arthur Hayes took to X to ask people to be “patient.”

    “$BTC likely bottoms around $70k. 36% correction from $110k ATH, v normal for a bull market,” adding:

    “Traders will try to buy the dip, if you are more risk averse wait for the central banks to ease then deploy more capital. You might not catch the bottom but you also won’t have to mentally suffer through a long period of sideways and potential unrealised losses.”

    Share this article
    Categories
    Tags



    Source link

  • Michael Saylor’s Strategy to raise up to $21b to buy more Bitcoin

    Michael Saylor’s Strategy to raise up to $21b to buy more Bitcoin

    • Strategy is the world’s largest corporate holder of Bitcoin
    • Fresh purchases with the new capital will push the company’s total BTC holdings beyond 500,000 BTC.
    • Michael Saylor recently attended the White House Crypto Summit.

    Strategy, formerly MicroStrategy, has announced plans to raise additional capital for general corporate operations, including the purchase of more Bitcoin (BTC).

    In the announcement on Mar. 10, Strategy said it had plans to issue and sell shares of up to $21 billion in its at-the-market (ATM) program.

    The offer will be for its 8.00% Series A Perpetual Preferred Stock (STRK), with proceeds expected to fund the company’s general corporate purposes. Most of this will go into more Bitcoin purchases as Strategy continues to accumulate BTC. Strategy will also utilize raised funds for working capital.

    Strategy’s holdings just under 500k BTC

    Michael Saylor’s artificial intelligence and business intelligence company – now the world’s largest corporate BTC company- first added BTC as a treasury asset in 2020. Since then, its been a prolific buyer of the benchmark digital asset.

    With its last purchase in February 2025, Strategy pushed its haul to 499,096 BTC.

    This is where it currently stands, with total holdings just below the landmark 500,000 bitcoin. So far, the company has spent $33.1 billion to buy Bitcoin. Per details, the company’s average purchase price was $66,357 per bitcoin.

    News that Saylor was looking to buy more BTC slightly buoyed bulls during early trading on Mar. 10. Per market data, the top cryptocurrency’s price hovered around $83,252 at the time of writing.

    While price was down 1.4% in the past 24 hours, the slight gains had seen BTC rebound from lows of $80,120. BTC nonetheless continues to struggle despite last week’s executive order on a Strategic Bitcoin Reserve and the first-ever White House crypto summit.

    Share this article
    Categories
    Tags

    Source link

  • BBVA gets nod to offer Bitcoin and Ethereum trading services in Spain

    BBVA gets nod to offer Bitcoin and Ethereum trading services in Spain

    BBVA gets nod to offer Bitcoin and Ethereum trading services in Spain

    • BBVA customers in Spain will soon be able to trade Bitcoin (BTC) and Ethereum (ETH).
    • The bank will roll out the crypto trading services in phases.
    • First, the bank will allow a select group of customers to test the services before expanding it to retail customers.

    Spain’s Banco Bilbao Vizcaya Argentaria (BBVA), the country’s second-largest bank, has received regulatory approval from the Comisión Nacional del Mercado de Valores (CNMV) to offer Bitcoin (BTC) and Ethereum (ETH) trading services.

    Following the approval by the securities regulator, BBVA announced that its clients will soon be able to buy, sell, and manage BTC and ETH directly through its mobile banking app, a move that underscores the growing convergence of legacy banking and digital assets.

    This development positions BBVA as a trailblazer among European banks, capitalizing on the increasing demand for crypto-related services. With Bitcoin (BTC) trading at approximately $82,808 and Ethereum (ETH) at $2,118, the bank aims to tap into a market that has seen explosive growth and institutional interest.

    Notably, BBVA’s decision reflects a broader trend of traditional financial institutions adapting to the evolving preferences of tech-savvy customers, many of whom view cryptocurrencies as both an investment opportunity and a hedge against economic uncertainty.

    A phased rollout approach

    BBVA will roll out its crypto trading in phases. Initially, the service will be available to a select group of users, allowing the bank to test and refine its platform before a wider rollout.

    Afterwards, the lender will gradually expand access to all private banking customers across Spain.

    This cautious yet deliberate strategy highlights BBVA’s commitment to ensuring a seamless and secure experience for its clients, leveraging its own cryptographic key custody platform to maintain full control over digital asset holdings without relying on third-party providers.

    The bank’s proprietary custody solution is a key differentiator. By keeping customer assets in-house, BBVA aims to enhance security and trust—crucial factors in a sector often plagued by concerns over hacks and mismanagement. This move also aligns with the bank’s long-standing emphasis on technological innovation, positioning it as a leader in the digital transformation of finance.

    Building on the rising crypto adoption trends

    BBVA’s crypto journey is not a sudden leap but a calculated expansion of efforts that began years ago. In June 2021, the bank launched Bitcoin custody and trading services for private banking clients in Switzerland, where regulatory clarity provided an early foothold.

    Since then, BBVA’s Swiss branch has broadened its offerings to include ETH and the USDC stablecoin after partnering with Ripple’s Metaco, catering to a sophisticated clientele comfortable with digital assets.

    More recently, in January 2025, BBVA’s Turkish subsidiary, Garanti BBVA Kripto, introduced crypto trading services to the public, further solidifying the bank’s global footprint in this space.

    The approval in Spain builds on these successes, adapting lessons learned from Switzerland and Turkey to meet the unique needs of the Spanish market.

    With each step, BBVA is demonstrating a strategic vision to integrate cryptocurrencies into its core offerings, aligning with shifting regulatory and consumer landscapes.

    Notably, the timing of BBVA’s Spanish rollout coincides with the full implementation of the European Union’s Markets in Crypto-Assets Regulation (MiCA), which took effect at the end of 2024. MiCA establishes a harmonized framework for crypto services across the EU, providing banks and firms with the legal clarity needed to operate confidently.

    Under this regulation, companies have until July 2026 to achieve full compliance during an 18-month transitional phase, giving BBVA ample time to refine its operations.

    Share this article
    Categories
    Tags

    Source link

  • Utah lawmakers approve amended Bitcoin bill

    Utah lawmakers approve amended Bitcoin bill

    Utah lawmakers approve amended Bitcoin bill

    • The state of Utah has passed its Bitcoin bill but has dropped the Bitcoin reserve plan.
    • The approved bill protects mining, staking, and self-custody rights.
    • The bill now awaits Governor Cox’s signature, after which it will become effective starting May 2025.

    On March 7, 2025, Utah lawmakers took a significant step toward integrating cryptocurrency into the state’s legal framework by passing HB230, the “Blockchain and Digital Innovation Amendments” bill.

    However, the legislation, approved by the Senate in a 19-7-3 vote, no longer includes its original groundbreaking provision to establish a state Bitcoin reserve. Instead, it focuses on fostering a supportive environment for blockchain technology and protecting residents’ rights to engage with digital assets.

    The bill now awaits the signature of Governor Spencer Cox, who has not yet indicated his stance. If signed into law, it will take effect on May 7, 2025, making Utah a progressive player in the US cryptocurrency landscape, even without the reserve clause that once promised to make it a pioneer.

    The Bitcoin reserve contention

    Initially introduced by Representative Jordan Teuscher and sponsored in the Senate by Senator Kirk A. Cullimore, HB230 aimed to position Utah as the first US state to hold Bitcoin in its treasury.

    The original proposal allowed the state treasurer to invest up to 10% of certain public funds in Bitcoin (BTC), a move that could have involved millions from accounts like the General Fund and Budget Stabilization Fund. This clause survived earlier votes, raising hopes among crypto advocates.

    However, during the third and final Senate reading, lawmakers stripped the reserve provision from the bill. Senator Cullimore acknowledged the change on the Senate floor, citing concerns over Utah being an early adopter of such a bold financial policy.

    The House later concurred with the amendment in a 52-19-4 vote, reflecting a cautious retreat from the state-managed Bitcoin investment idea.

    Approved bill protects Utah crypto holders

    Despite removing the reserve clause, HB230 retains significant provisions that bolster Utah’s blockchain ecosystem.

    The approved legislation ensures residents can self-custody their digital assets without state interference, a key win for individual freedom in the crypto space. It also safeguards the right to mine Bitcoin, operate blockchain nodes, and participate in staking—activities central to the decentralized nature of cryptocurrencies.

    These measures aim to empower Utahns and attract blockchain innovators to the state. By clarifying legal terms related to digital assets and prohibiting restrictive regulations, the bill lays a foundation for growth in this emerging sector.

    Supporters argue that the bill balances innovation with safety, positioning Utah as a potential hub for crypto-related businesses.

    25 out of 31 Bitcoin reserve bills remain active in the US

    Utah’s legislative journey mirrors a nationwide push toward Bitcoin integration. While the state stepped back from its reserve ambitions, Arizona and Texas are advancing similar bills, having passed Senate committee votes.

    According to Bitcoin Laws data, 25 of 31 introduced Bitcoin reserve bills across the US remain active, with states like Illinois and New Hampshire also in the race.

    On the federal level, President Donald Trump signed an executive order on March 7, 2025, creating a Strategic Bitcoin Reserve using seized assets. This move, paired with plans for budget-neutral acquisitions, underscores a growing acceptance of Bitcoin (BTC) at both the state and national levels.

    Utah’s amended bill, while less ambitious, aligns with this trend by prioritizing citizen participation over direct state investment.

    Share this article
    Categories
    Tags

    Source link

  • Bitcoin Pepe raises $4M as Trump-linked memecoin rakes in $350M for creators

    Bitcoin Pepe raises $4M as Trump-linked memecoin rakes in $350M for creators

    Bitcoin Pepe raises $4M as Trump-linked memecoin rakes in $350M for creators

    • Bitcoin Pepe aims for Meme Layer-2 on Bitcoin with PEP-20.
    • TRUMP memecoin earned $350M for its creators, with 80% owned by Trump affiliates.
    • Regulatory push grows as memecoins spark profit and manipulation concerns.

    The cryptocurrency world is buzzing with the rise of memecoins tied to high-profile figures and innovative concepts. Among the currently trending memecoins are Official Trump (TRUMP), themed after President Donald Trump, and Bitcoin Pepe (BPEP), which brings memecoins to Bitcoin blockchain.

    Bitcoin Pepe has raised over $4 million in its ongoing presale, the “World’s Only Bitcoin Meme ICO,” while a Financial Times report shows that the Official Trump (TRUMP) memecoin, has reportedly generated a staggering $350 million for its creators.

    Bitcoin Pepe seeks to build a meme empire on Bitcoin

    Amid the memecoin frenzy, Bitcoin Pepe is carving its own niche, raising $4,029,822 in its ongoing presale. Dubbed a “Solana on Bitcoin,” this project aims to create a Meme Layer-2 for Bitcoin, boasting instant transactions and ultra-low fees via its PEP-20 token standard.

    Currently in its sixth presale stage out of thirty presale stages, the Bitcoin Pepe (BPEP) token is its going for $0.0268 and it is set to rise to $0.0281 in the next phase.

    Post-presale Bitcoin Pepe’s vision is ambitious: enabling memecoin creation on Bitcoin, which it calls “the only chain that will live forever.” Its whitepaper, roadmap, and team details are accessible on its site, alongside a SolidProof audit for credibility.

    Bitcoin Pepe’s appeal lies in its simplicity and promise. The project’s branding—replete with giveaways and a “Watch Bitcoin Pepe’s Birth” video—taps into meme culture while leveraging Bitcoin’s enduring reputation, setting it apart from flash-in-the-pan tokens.

    As Trump’s memecoin saga unfolds with regulatory clouds looming, Bitcoin Pepe offers a grassroots counterpoint.

    Official Trump (TRUMP) has raked in millions

    The TRUMP memecoin, launched just days before Donald Trump’s White House return on January 20, 2025, has become a financial juggernaut.

    According to the Financial Times report dated March 7, entities behind the token—tied to The Trump Organization’s CIC Digital and Fight Fight Fight LLC—earned at least $314 million from token sales and $36 million in fees on the Solana blockchain. Together, these groups hold 80% of the 1 billion minted TRUMP tokens, though Trump’s personal profit remains undisclosed.

    The project kicked off with 200 million tokens released initially, with the remaining 800 million slated for distribution over three years. Early sales saw 100 million tokens offloaded for under $1.05 each, but prices soared to a peak of $75 by January 19.

    However, the launch of Melania Trump’s MELANIA memecoin triggered an 82% price drop, prompting Trump-linked accounts to spend $1 million stabilizing the market by buying tokens at $33.20.

    Analysts suggest that market manipulation may be at play. The Financial Times tracked $291 million in USDC reinvested into liquidity pools to prop up TRUMP’s value, alongside 14.7 million tokens sent to exchanges like Binance and Coinbase.

    Despite the crash, the 831 million tokens still held by Trump affiliates carry a notional value of $10.8 billion, underscoring the memecoin’s outsized impact.

    The phenomenon has sparked regulatory scrutiny with Representative Sam Liccardo proposing banning officials from such ventures, while New York Assembly member Clyde Vanel introduced a bill on March 5 to penalize memecoin rug pulls.

    Yet, with the SEC deeming memecoins outside securities laws, oversight remains murky, leaving investors vulnerable amid the hype of 700 copycat tokens.

    Share this article
    Categories
    Tags

    Source link