Bitcoin Treasury Fever: The Chain Reaction Is Here

Happy Monday Bitcoiners, it's Bam here with another Bitcoin update!

Each week, our team at Bitcoin News saves you time by curating the most impactful events into a concise, easy-to-read update.

Notable events this week include:

• MicroStrategy adds another 55,500 Bitcoin to its holdings.

• Russia enacts a law officially recognizing Bitcoin as property.

• Brazil proposes a bill to allocate 5% of its Strategic Reserves to Bitcoin.

Let’s dive in! ⚡

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LATEST NEWS 📰

🙌 ADOPTION

• Trezor wallet sales surge 600% following Bitcoin’s new all-time high.

• Institutions have absorbed nearly all the selling pressure from long-term holders, who recently sold 128,000 Bitcoin.

• Make-A-Wish International now accepts Bitcoin donations.

⚖️ LEGAL

• Dennis Porter confirms that three new states will announce “Strategic Bitcoin Reserve” legislation this December.

• Russia amends its tax code to recognize digital currency as property. Its Sovereign Wealth Fund is also investing in Bitcoin mining across BRICS countries to facilitate global trade settlement in Bitcoin.

• Celsius Network begins the second phase of creditor distributions, totaling $127 million. Eligible creditors will receive approximately 60.4% of their claims.

📈 MARKETS

• MicroStrategy acquires 55,500 BTC for ~$5.4 billion, bringing its total holdings to 386,700 BTC. Semler Scientific added 297 BTC to its holdings, now totaling 1,570 BTC, and launched an additional $50M ATM program.

• Metaplanet issues Moving Strike Stock Acquisition Rights to raise up to 9.5 billion yen ($62 million) for additional Bitcoin purchases.

• Boyaa Interactive, a Chinese gaming giant, surpasses Japan’s Metaplanet as Asia’s largest corporate Bitcoin holder after converting $49.5 million worth of Ethereum into BTC.

⛏️ MINING

• Shares of Chinese Bitcoin miner SOS Ltd. jump over 40% after the company announces a $50 million Bitcoin purchase for its balance sheet.

• Hut 8 CEO asks if the company should add more Bitcoin to its balance sheet, with 92.6% of poll respondents voting in favor.

• MARA acquires 6,474 BTC following its $1 billion convertible bond offering, increasing its total Bitcoin holdings to 34,794 BTC.

🗳️ POLITICS

• Brazil's Chamber of Deputies proposes a bill to allocate 5% of the country’s Strategic Reserves to Bitcoin.

• Mayor of Vancouver, Ken Sim, proposes a motion for the city to hold Bitcoin as a reserve asset.

• El Salvador has mined 474 Bitcoin using geothermal power from volcanoes.

BAMS 2 SATS 🧢

Last week, we discussed the rising wave of companies and institutions adopting the Bitcoin standard. This week, the trend continues with new players joining the movement:

• Jiva Technologies, a publicly traded wellness company, adopts a Bitcoin Treasury Strategy, approving up to $1 million in Bitcoin purchases for treasury management.

• Rumble adopts a Bitcoin Treasury Strategy, approving up to $20 million in Bitcoin purchases.

This cycle appears to be the turning point where Bitcoin adoption by companies is evolving into a full-fledged “movement.” What began in August 2020 with MicroStrategy’s shift to a Bitcoin Standard is now gaining wider traction. While many anticipated quicker market adoption, it seems a full 4-year cycle and proven performance were needed for businesses to recognize Bitcoin’s value and embrace it as a strategic solution.

Adding Bitcoin to the balance sheet has become so successful that even Bitcoin miners—companies producing Bitcoin—are adopting the MicroStrategy playbook. They’re issuing convertible bonds to expand their Bitcoin holdings.

MARA recently issued $1 billion in 0% convertible bonds, which the market eagerly snapped up. The proceeds were used to purchase more Bitcoin, solidifying MARA as the world’s second-largest corporate holder with over 34,000 BTC—trailing only MicroStrategy.

Shifting the Conversation

While market trends are exciting, it’s crucial to remember Bitcoin’s core purpose: promoting financial freedom and sovereignty. Bitcoin isn’t just about outsized gains—it’s a tool to resist centralized control and safeguard the freedom to transact.

If you haven’t seen the short clip of Marc Andreessen on Joe Rogan, I highly recommend it. Marc highlights the risks of governments wielding the power to bank or unbank their populations. Centralized systems concentrate decision-making in the hands of a few, opening the door to corruption and coercion that can undermine financial autonomy.

Why Bitcoin Matters

Bitcoin solves this problem. While Marc didn’t mention Bitcoin in the clip, its purpose extends beyond wealth-building. Bitcoin offers a secure way to store wealth, free from debasement and transactional restrictions. That’s why the phrase “Bitcoin is money for enemies” resonates—it’s neutral, censorship-resistant, and accessible to everyone.

Stay safe, enjoy the ride & keep on stacking!
Bam

The Most Bullish Podcast of All Time?

This week, we’re thrilled to host two of our favorite guests, BritishHODL and Peter Dunworth, as we dive into why MicroStrategy could skyrocket to $35,000 per share and why the Bitcoin power law might break down!

Get ready to fuel up for an exciting week ahead—with the $100K Bitcoin price target in sight.