Kategorie: Bitcoin News

• Michigan’s HB 4510 allows pension funds to invest in crypto ETFs.
• HB 4512 enables Bitcoin mining at abandoned oil or gas wells.
• HB 4513 offers income tax breaks to miners in remediation schemes.

State and federal lawmakers are charting a new course for cryptocurrency in the United States.

In Michigan, a legislative package of four crypto-focused bills is moving forward, combining pension fund exposure, environmental cleanups, and digital asset rights.

At the same time, lawmakers in Washington have reintroduced a bill to clarify the regulatory obligations of blockchain developers and non-custodial providers.

These coordinated efforts aim to balance innovation with accountability, as regulators seek to provide legal clarity without stifling decentralised finance.

The push reflects a growing political will to define crypto’s role within the broader financial and technological landscape.

Michigan bill allows crypto in pension funds

One of the most significant pieces of Michigan’s legislation is House Bill 4510, which would permit state-managed retirement systems to invest in cryptocurrencies through regulated financial products, such as exchange-traded funds (ETFs).

These investment vehicles must meet market capitalisation thresholds and be overseen by relevant financial authorities, offering a relatively conservative pathway for exposure to assets like Bitcoin.

The proposal comes amid rising institutional interest in crypto and growing demand for diversified, inflation-resistant portfolios.

If passed, the bill would position Michigan among a small group of US states, enabling public pension managers to hold crypto-linked assets under regulatory safeguards.

Mining linked to abandoned wells and tax breaks

In a bid to align crypto with environmental responsibility, Michigan’s HB 4512 and HB 4513 introduce an energy reuse programme targeting abandoned oil and gas wells.

Under the plan, Bitcoin miners would be allowed to power operations using these dormant energy sites, provided they remediate environmental damage.

Ownership transfers, well site assessments, and environmental progress tracking would be mandated under the bill, ensuring accountability.

In return, miners participating in the scheme would qualify for income tax deductions under HB 4513.

The measures are designed to attract miners with incentives while tackling legacy pollution problems.

The bills reference Bitcoin explicitly and focus on “orphan well programmes” as a potential win-win for the energy and crypto sectors.

State protection against CBDCs and digital discrimination

Another critical element of Michigan’s proposal is House Bill 4511.

This bill would prohibit state and local authorities from creating restrictions, licensing rules, or special taxes targeting digital assets solely based on their digital form.

It also bans any state agency from endorsing or promoting a central bank digital currency (CBDC), drawing a clear line between decentralised cryptocurrencies and government-backed digital money.

The legislation signals a strong defence of crypto users’ rights within Michigan, providing legal backing for miners, node operators, and token holders against targeted regulatory pressure.

If adopted, it could set a precedent for other states seeking to protect decentralised finance ecosystems.

Federal legislation aims to clarify developer rules

While Michigan pursues state-level crypto integration, Washington is moving ahead with national reform.

US Representatives Tom Emmer and Ritchie Torres recently reintroduced the Blockchain Regulatory Certainty Act, which seeks to establish clear boundaries on who qualifies as a “money transmitter” under federal law.

The Act would exempt developers and non-custodial service providers, such as those who build blockchain protocols or run interfaces that never hold user funds, from financial licensing requirements.

Only those who directly control consumer assets would be subject to oversight.

The lawmakers argue this clarification is needed to keep blockchain talent and startups within the US, rather than pushing them offshore.

“Today, @RepRitchie and I introduced the Blockchain Regulatory Certainty Act to protect blockchain developers and service providers that never custody consumer funds from unjust government prosecution,” Emmer posted on X on 3 May.

The bill aims to address regulatory uncertainty that critics say has slowed domestic blockchain innovation and led to uneven enforcement.

By drawing a regulatory line between developers and custodians, the bill hopes to ease legal pressures on creators and infrastructure providers.

 

 

The post Michigan lawmakers introduce 4 crypto bills as Congressmen revive Blockchain Regulatory Certainty bill appeared first on CoinJournal.

Bitcoin surged to an unprecedented high on Thursday, breaching the $111,000 mark for the first time as a confluence of factors, including growing institutional demand and positive regulatory signals from the US, fueled a wave of bullish sentiment across the cryptocurrency market.

The world’s original cryptocurrency climbed as much as 3.3% on Thursday to achieve a new record of $111,878, according to data compiled by Bloomberg.

This landmark achievement was not isolated, as smaller tokens also caught the updraft; second-ranked Ether, for instance, was up approximately 5.5% at one point during the rally.

A significant undercurrent of optimism is currently buoying Bitcoin.

This has been notably stoked by the recent advancement of a key stablecoin bill in the US Senate, a development that has kindled hopes for greater regulatory clarity for digital-asset firms under President Donald Trump, who has expressed a generally pro-crypto stance.

Alongside these regulatory tailwinds, surging demand from prominent institutional players is acting as a powerful driving force.

Michael Saylor’s MicroStrategy, which has famously stockpiled over $50 billion worth of Bitcoin, leads a growing cohort of entities actively accumulating the token.

“It has been a slow motion grind into new all-time highs,” observed Joshua Lim, global co-head of markets at FalconX Ltd.

There’s no shortage of demand for BTC from SPAC and PIPE deals, which is manifesting in the premium on Coinbase spot prices.

This demand is being met by a diverse group of buyers, including a flurry of lesser-known small-cap companies and newly established public firms led by crypto industry heavyweights, who are financing their Bitcoin acquisitions through various means, from convertible bonds to preferred stocks.

Illustrating this trend, an affiliate of Cantor Fitzgerald LP is reportedly collaborating with stablecoin issuer Tether Holdings SA and SoftBank Group to launch Twenty One Capital Inc., a company designed to emulate MicroStrategy’s Bitcoin-centric business model.

Separately, a subsidiary of Strive Enterprises Inc., co-founded by Vivek Ramaswamy, is in the process of merging with Nasdaq-listed Asset Entities Inc. to form a dedicated Bitcoin treasury company.

Beyond momentum: quantifiable demand fuels rally

Market experts emphasize that the current rally is not solely based on speculative momentum.

“Unlike previous cycles, this rally is not momentum-driven alone,” stated Julia Zhou, COO of crypto market maker Caladan.

It is quantitatively underpinned by measurable, persistent demand and supply dislocations.

This suggests a more fundamentally sound basis for the ongoing price appreciation.

Interestingly, Bitcoin’s outperformance relative to smaller cryptocurrencies, often referred to as altcoins, is widening.

An index tracking these alternative tokens is down approximately 40% year-to-date, while Bitcoin itself has registered a 17% gain so far in 2025, highlighting a flight to perceived quality within the digital asset space.

Activity in the options markets further underscores the bullish sentiment.

Earlier this week, traders built significant Bitcoin positions, with call options at strike prices of $110,000, $120,000, and even an ambitious $300,000, all expiring on June 27, logging the highest open interest (number of outstanding contracts) on the derivatives exchange Deribit.

This activity points to strong expectations of further upside.

Tony Sycamore, a market analyst at IG, remarked in a note that the fresh record high demonstrates that Bitcoin’s sharp decline from a previous peak set on January 20 (to below $75,000 in April) was merely “a correction within a bull market.”

He added, “A sustained break above $110,000 is needed to trigger the next leg higher towards $125,000.”

Political intersections and market perceptions

Bitcoin’s latest milestone coincides with President Trump preparing to meet with major holders of his memecoin at a dinner event at his golf club near Washington on Thursday.

This event has drawn scrutiny from ethics experts, who argue it offers privileged access through transactions that directly benefit the president, thereby sparking criticism over potential conflicts of interest.

While such events contribute to crypto’s growing mainstream presence, their direct market impact is debated.

Yuan Rong Tan, a trader at QCP Capital, commented that such events “highlight crypto’s increasing cultural visibility, though they have not had a measurable impact on market dynamics at this stage.”

The post Bitcoin reaches new all-time high above $111,000 amid regulatory hopes appeared first on CoinJournal.

• Bitcoin hit a new all-time high above$109,000 on May 21, 2025.
• The milestone saw 100% of BTC holders fall into profit.
• Bitcoin also surpassed Amazon in terms of market cap

Bitcoin price has just surged to a new all-time high above $109k.

On May 21, 2025, the price of Bitcoin spiked more than 4%, storming past its previous ATH as optimism swept bears aside.

Over $50 million worth of BTC shorts were liquidated in just an hour.

100% of Bitcoin holders are in profit

This latest Bitcoin price surge sent every other holder of the coin into a profitable position.

According to data from Sentora, formerly IntoTheBlock, 100% of Bitcoin addresses were in the money amid the massive milestone.

With Bitcoin (BTC) price retesting the $109k level, holders underwater declined to zero. Also at 0% were addresses with the money, meaning wallets whose average buy price was at or near the previous ATH.

Sentora had earlier shared via X on May 21, 2025, that BTC holders were 99% in profit as the price crossed the $107k level.

A lot of those celebrating the new ATH are hodlers who have held BTC for more than a year. The percentage count according to Sentora data is 75%. More than 21% have held Bitcoin for 1-12 months.

Notably, when Bitcoin price fell to under $80k in April, new holder wallets were among those to aggressively offload.

Analyst says BTC could hit $600k in 2025

On May 21, as Bitcoin price surged towards its all-time high above $109k, Fred Krueger shared his staggering Bitcoin price prediction for 2025.

According to the BTC bull, the top crypto could see its price hit $600k by October 2025. While this may be an overly bullish take, his forecast is that a run to $150k by the summer will provide the impetus for a new parabolic leg up.

Once we escape past 110K, there is no more friction.
Its a smooth ride to 150k.

„Ground Control to Major Tom“

— Fred Krueger (@dotkrueger) May 21, 2025

Saylor says it’s time to buy BTC

As Bitcoin rose to its new ATH, Michael Saylor, founder of Strategy, said Bitcoin is still a buy despite the rally.

In a post on X, Saylor noted that not acquiring BTC at current price levels is “leaving money on the table.”

Earlier, in late April, the MicroStrategy founder noted that soon banks and global financial institutions will soon make Bitcoin “unaffordable” to the regular investor.

The remarks mirror numerous predictions that see BTC at $200k in 2025 and $1 million in the next few years.

Bitcoin surpasses Amazon by market cap

In the past 24 hours, the benchmark crypto has also notched another milestone – its market cap has surpassed that of Amazon.

JUST IN: Bitcoin overtakes Amazon and Google to become the 5th biggest asset in the world. pic.twitter.com/dYqKvTTAEK

— Bitcoin Archive (@BTC_Archive) May 21, 2025

According to details on CompaniesMarketCap, Bitcoin’s spike above $109k sees it overtake Amazon, the leading e-commerce company listed in the U.S.

While Amazon currently sits at a $2.157 trillion market cap, Bitcoin has increased to over 2.166 trillion.

 

The post Bitcoin hits new all-time high,100% of BTC holders in profit appeared first on CoinJournal.

• 50 million Americans now own Bitcoin, surpassing 37 million gold holders.
• US firms hold 94.8% of publicly traded companies’ Bitcoin reserves.
• US leads globally with 40% of all Bitcoin companies headquartered domestically.

Bitcoin has officially outpaced gold in US ownership, marking a significant pivot in the country’s investment landscape.

According to a new report released on 20 May by Bitcoin investment firm River, roughly 50 million Americans now own Bitcoin, compared to 37 million who own gold.

This data underscores the rise of Bitcoin as a preferred store of value, reshaping traditional notions of economic security and reserve asset status.

As Bitcoin ownership expands, it’s increasingly seen not just as a speculative instrument, but as a fundamental part of US financial infrastructure.

US leads in global Bitcoin adoption and infrastructure

The River report notes that the United States is the global leader in Bitcoin adoption, with 40 percent of all Bitcoin-related companies headquartered in the country.

American firms also hold 94.8 percent of all Bitcoin owned by publicly traded companies worldwide, reflecting significant institutional backing.

This dominance is supported by a robust ecosystem comprising crypto-focused startups, spot ETF launches, and policies promoting digital asset development.

Regulatory momentum in Washington has further strengthened Bitcoin’s foundation in the financial system. Recent discussions around treating Bitcoin as a potential strategic reserve asset suggest growing political acceptance.

Several politicians have floated the idea of the US government maintaining a Bitcoin reserve, signalling institutional confidence amid rising concerns over the US dollar’s long-term stability.

Strategic demand rises amid economic uncertainty

The shift toward Bitcoin is occurring alongside broader macroeconomic concerns. Moody’s recent downgrade of the US credit rating—ending over a century of top-tier ratings—has reinforced the appeal of decentralised alternatives.

Investors increasingly view Bitcoin as a hedge against fiscal instability and inflation, particularly given its fixed supply and decentralised governance model.

Bitcoin also offers practical advantages over gold in the digital age. The ease of storage, cross-border transfer, and liquidity make it an attractive option for both individual and institutional investors.

This is particularly relevant in an era where digital finance is becoming the norm and where traditional safe-haven assets like gold face logistical and accessibility limitations.

Rising ownership brings attention to volatility risks

While Bitcoin is gaining legitimacy as a reserve asset, it remains a volatile asset class. Unlike gold, which has maintained relatively steady valuations over time, Bitcoin has experienced frequent price swings—something that may deter more risk-averse investors.

Nonetheless, the market appears to be increasingly tolerant of this volatility, especially as long-term returns continue to outperform traditional assets.

Institutional support also plays a key role in this shift. Major asset managers such as BlackRock are incorporating Bitcoin into their portfolios, further validating its status.

Meanwhile, crypto ETFs and custodial services are helping to bridge the gap between traditional finance and the digital asset space, making it easier for Americans to gain exposure to Bitcoin without navigating complex self-custody solutions.

As Bitcoin ownership grows, it reflects not just a shift in preference, but a broader transformation in how Americans perceive financial security and resilience.

The trend is still developing, but the numbers now place Bitcoin squarely ahead of gold—at least in terms of how many Americans are betting on it.

The post Bitcoin ownership surpasses gold in the US as 50M Americans hold BTC appeared first on CoinJournal.