Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

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Oklahoma senator files Bitcoin Freedom Act enabling wages in BTC

  • The Bitcoin Freedom Act lets Oklahomans accept their wages in Bitcoin
  • Oklahoma State Senator Deevers said Washington is “ruining the US dollar”
  • The Bitcoin Freedom Act is eligible for consideration in the 60th legislative session beginning on February 3

Oklahoma State Senator Dusty Deevers has filed legislation allowing employees to receive wages in Bitcoin and businesses to accept Bitcoin payments.

Introducing the Bitcoin Freedom Act, Deevers said: “In a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments.”

Deevers continued: “As Bitcoin continues to rise and the value of the dollar continues to be printed away in Washington D.C., Oklahoma must act to protect our people.”

The bill, known as SB325, states under section 4 that: “Any employee of this state, business, corporation, other entity, and resident of this state may negotiate and receive payment and compensation, including salaries, wages, and other forms of compensation, in Bitcoin.”

Embracing the future of finance

Deevers pointed out that Bitcoin is becoming increasingly seen as a hedge against inflation, unlike traditional currencies such as the US dollar. Taking to X, Deevers posted: “If Washington DC can ruin something, it likely will. And it is certainly ruining the US dollar.”

Continuing, Deevers wrote: “This small but possibly revolutionary change has the potential to offset the harms suffered due to inflation and make Oklahoma a national leader who embraces the future of financial technology.”

Deevers also praised President-elect Donald Trump who spoke at Bitcoin events during his presidential election.

“Bitcoin has arrived into the mainstream of our economy and is unquestionably a significant part of the financial future,” he added.

The Bitcoin Freedom Act is eligible for consideration in the 60th legislative session beginning on February 3.

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Metaplanet wants to boost its Bitcoin holdings to 10,000 in 2025

  • Metaplanet started buying Bitcoin in May 2024 as a strategic treasury reserve
  • The Tokyo-listed company currently holds 1,761.98 Bitcoin
  • It saw its Bitcoin yield reach 310% between October 1, 2024 to December 23, 2024 compared to 41% between July 1, 2024 to September 2024

Metaplanet is on a mission to boost its Bitcoin holdings to 10,000 in 2025 while leveraging its partnerships to boost Bitcoin adoption worldwide.

In a post on X, Simon Gerovich, CEO of Metaplanet, said that the Tokyo-listed company is aiming to “expand our Bitcoin holdings to 10,000 BTC by utilizing the most accretive capital market tools available to us.”

Reflecting on its 2024 performance, Gerovich highlighted that the company “broke records, expanded our Bitcoin treasury, and reinforced our position as Asia’s leading Bitcoin treasury company.”

Purchasing Bitcoin

Since May 2024, Metaplanet has been acquiring Bitcoin at a steady rate as a strategic treasury reserve. In June, it purchased $6.2 million worth of Bitcoin. This was followed by a $2.5 million purchase in July, a $7 million Bitcoin purchase in October, and an additional $11.7 million in November.

Its latest Bitcoin purchase was in late December totaling 620 Bitcoin for $60 million. To date, Metaplanet currently holds 1,761.98. In comparison, MicroStrategy holds 447,470 Bitcoin with its most recent purchase of $101 million taking place at the end of December 2024.

According to a December 23 notice from Metaplanet, it saw its Bitcoin yield reach nearly 310% between October 1, 2024 to December 23, 2024. This is compared to a 41% Bitcoin yield reached between July 1, 2024 to September 30, 2024.

On top of building its Bitcoin holdings, Gerovich added on X, among other things, that Metaplanet is focusing on building partnerships to “advance Bitcoin adoption in Japan and globally” while exploring “innovative opportunities to grow Metaplanet’s impact in Japan and the Bitcoin ecosystem.”

The post Metaplanet wants to boost its Bitcoin holdings to 10,000 in 2025 appeared first on CoinJournal.

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Calamos Investments to introduce a Bitcoin ETF with 100% downside protection

  • Calamos is launching a Bitcoin ETF with 100% downside protection named CBOJ in January.
  • The ETF combines Treasury bonds and Bitcoin options to mitigate investment risks.
  • CBOJ offers annual protection resets and caps potential gains for risk management.

Calamos Investments is set to launch a groundbreaking Bitcoin exchange-traded fund (ETF) offering 100% downside protection.

Scheduled to debut on the Chicago Board Options Exchange (CBOE) on January 22, the new ETF, named CBOJ, is designed to address Bitcoin’s volatility while providing growth opportunities, according to a company announcement.

Calamos’ Structured Protection ETF series

CBOJ builds upon the success of Calamos’ Structured Protection ETF series, introduced in 2024. This series provided similar downside protection mechanisms for stock indices like the S&P 500 and Nasdaq-100.

By extending these principles to Bitcoin, Calamos seeks to meet the demands of advisors, institutions, and investors looking for a way to capture Bitcoin’s growth potential while mitigating its historically high volatility.

Bitcoin has historically been a highly volatile asset, often deterring risk-averse investors. The CBOJ ETF aims to overcome this challenge by ensuring that investors do not lose money, even if Bitcoin’s value declines.

This innovative fund achieves downside protection by integrating US Treasury bonds with options tied to the CBOE Bitcoin US ETF Index. The combination provides a regulated and transparent avenue for gaining Bitcoin exposure while minimizing associated risks.

CBOJ ETF’s annual protection reset

One of the unique features of the CBOJ ETF is its annual reset of downside protection. Each year, investors benefit from a new cap on potential gains while maintaining full protection against losses for the next 12 months.

This structure ensures ongoing risk mitigation and aligns with the dynamic nature of the Bitcoin market.

“Many investors have been hesitant to invest in Bitcoin due to its epic volatility,” said Matt Kaufman, Head of ETFs at Calamos. “Calamos seeks to meet advisor, institutional, and investor demands for solutions that capture Bitcoin’s growth potential while mitigating the historically high volatility and drawdowns of the asset.”

ETFs are investment funds that trade like stocks on exchanges, allowing investors to pool their money into a fund holding various assets. With CBOJ, investors gain exposure to Bitcoin without the need to own the cryptocurrency directly. This protective structure makes the ETF especially appealing to cautious investors looking to navigate the crypto market’s notorious price swings.

As derivatives-based Bitcoin ETFs gain traction, industry reports suggest that more firms may follow Calamos’ lead in introducing similar solutions for risk-averse investors.

The post Calamos Investments to introduce a Bitcoin ETF with 100% downside protection appeared first on CoinJournal.

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MicroStrategy adds $101m Bitcoin to holdings, now at 447,470 BTC

  • MicroStrategy buys another $101 million of Bitcoin.
  • Company’s holdings now stand at 447, 470 BTC.
  • KULR also announced it purchased $21 million worth of Bitcoin to add to its holdings.

MicroStrategy has added to its Bitcoin (BTC) haul with another big purchase of 1,070 BTC valued at approximately $101 million.

The company disclosed the latest Bitcoin purchase on Monday Jan. 6, noting the acquisition was at the average price of $94,004 per bitcoin. Buying happened between Dec. 30, 2024 and Jan. 5, 2025, the business intelligence firm said.

MicroStrategy completed the sale after finalizing the sale of 319,586 shares. With this purchase, the company’s remains with $6.77 billion shares – part of the targeted $21 billion equity and $21 billion fixed income securities – to be used for more Bitcoin purchases.

MicroStrategy’s Bitcoin strategy

Bitcoin price has risen in the past week, rising amid bullish sentiment ahead of Donald Trump’s inauguration. So far, MicroStrategy has acquired a staggering 447,470 BTC hodled at the purchase value of about $27.97 billion. As per current prices,the company’s total BTC bag is worth over $44 billion. 

The world’s largest corporate holder of Bitcoin has inspired several other publicly-traded companies to adopt BTC treasury strategies. It includes companies listed in the US, Hong Kong and Canada among others.

Notably, MicroStrategy bought its bitcoin at the average price of $62,503 per BTC.

One of these, KULR Technology Group, an energy management platform, has also announced on Jan.6 that it purchased another $21 million worth of BTC to bring its total to $42 million.

KULR, which began its Bitcoin treasury strategy in early December, 2024, acquired the latest BTC haul at the average price of $98,393.58 per bitcoin.

Bitcoin traded at around $99,194 at the time of writing, 1.5% up in the past 24 hours and nearly 6% up in the past week.

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Binance to list Solv Protocol’s native token SOLV next week

  • SOLV token to be listed on Binance on January 17, 2025, with four trading pairs.
  • Solv Protocol focuses on Bitcoin staking to boost DeFi integration and liquidity.
  • Besides listing, Binance has also invested in Solv Protocol.

Binance, one of the world’s leading cryptocurrency exchanges, has announced its plan to list Solv Protocol’s native token, SOLV, next week.

This move is set to amplify SOLV’s visibility and utility within the burgeoning sector of Bitcoin-focused decentralized finance (DeFi).

SOLV to be listed on Binance on January 17

The listing of SOLV on Binance is scheduled for January 17, 2025, at 10:00 UTC, with trading pairs including SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY.

Notably, SOLV will enter the market with the “Seed” label, which Binance uses to signify tokens that are in their early stages, potentially indicating higher risk but also higher growth opportunities.

The anticipation around the SOLV listing is palpable, with posts on social media platforms like X highlighting the community’s excitement and speculation about the token’s future market performance. Discussions point towards an initial market cap expectation ranging from $400 million to $600 million, reflecting both optimism and caution given the token’s nascent stage.

The rise of the Solv Protocol

Solv Protocol has carved a niche for itself by focusing on Bitcoin staking, aiming to integrate Bitcoin more deeply into the DeFi ecosystem. The protocol’s mission is to unlock the potential of over $1 trillion in Bitcoin assets by providing yield opportunities while preserving liquidity.

With this listing, Binance endorses Solv Protocol’s vision and opens up new avenues for its users to engage with high-potential DeFi projects centred around Bitcoin.

This listing comes on the heels of a significant strategic investment by Binance Labs in Solv Protocol, underscoring a strong belief in its potential to revolutionize Bitcoin’s role in DeFi. Solv Protocol has raised substantial funding, with a total of $22 million, to further its development and adoption.

In addition to listing on Binance, SOLV will also be integrated into Binance’s Megadrop platform, where users can earn SOLV tokens by locking BNB or participating in Web3 quests, adding another layer of engagement for the crypto community.

As we approach the listing date, all eyes will be on how SOLV performs and how effectively Solv Protocol can leverage this opportunity to expand its ecosystem and user base.

The post Binance to list Solv Protocol’s native token SOLV next week appeared first on CoinJournal.