#bitcoin reserves

[rwatimes]

Bitcoin : The French company Capital B Accelerates its Digital Credit Project

The French company Capital B is preparing a credit backed by Bitcoin in Europe, based on its reserves to attract investors.

➤ French company Capital B is developing a new European credit instrument backed by its Bitcoin reserves, aiming to attract investors with potential double-digit returns. ➤ The project seeks to adapt financial models for digital assets to the European market, addressing challenges like high taxation and complex regulations. ➤ Capital B holds significant Bitcoin reserves and has ambitious goals for accumulation, though product launch is contingent on regulatory progress and market conditions.

[rwatimes]

Coinbase CEO says US government could hold over $1T in Bitcoin reserves

➤ Coinbase CEO Brian Armstrong suggests the US government could amass over $1 trillion in Bitcoin reserves through existing seized assets and proposed legislation like the BITCOIN Act. ➤ The US government is reportedly consolidating seized Bitcoin into a Strategic Bitcoin Reserve, shifting from its previous practice of auctioning such assets. ➤ The article highlights the significant political and legislative hurdles that must be overcome for Armstrong's trillion-dollar projection to materialize, emphasizing the uncertainty surrounding future government purchases.

[rwatimes]

Swiss Bitcoin Reserve Campaign Set to Lapse After Signature Shortfall

Switzerland’s bid to compel the central bank to hold Bitcoin appears to have fallen short of a nationwide referendum. Organizers reported they gathered roughly half the 100,000 signatures required under Swiss law, a threshold they could not meet, according to Reuters. The proposa...

➤ Switzerland's initiative to mandate the Swiss National Bank hold Bitcoin failed due to insufficient signatures for a referendum, highlighting challenges in altering central bank mandates via popular vote. ➤ The Swiss National Bank has consistently opposed crypto inclusion, citing volatility and liquidity risks, a stance that aligns with many global policymakers. ➤ While corporate adoption of Bitcoin treasuries increased, sovereign adoption remains limited and cautious, with examples like El Salvador and Bhutan showing divergent approaches to government engagement with BTC.

[pavel-nosok]

Arkham Identifies Coinbase’s $25B in BTC; Rivals Nakamoto’s Legacy Coins

On September 22, 2023, Arkham Intelligence unveiled that it has identified addresses tied to a staggering $25 billion from Coinbase’s bitcoin (BTC) holdings. This cache represents the most substantial BTC reserve on Arkham. The firm points out that this trove is nearly on par with Satoshi Nakamoto’s legendary 1 million coins. Coinbase’s Crypto Cache Tops $29B On Friday, Arkham Intelligence, a…

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[pavel-nosok]

SEC Lawsuits Fuel Bitcoin and Ethereum Exodus From Exchanges: Nearly $1 Billion Withdrawn in 7 Days

It has been six days since Binance faced a lawsuit from the U.S. Securities and Exchange Commission (SEC), and five days since Coinbase encountered a similar legal challenge. In the wake of these events, a substantial amount of bitcoin and ethereum has been withdrawn from exchanges, with data revealing that nearly $996 million worth of ETH and BTC has been removed from centralized trading…

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[pavel-nosok]

Close to 60,000 BTC Erased From Bitcoin Treasuries in 9 Months, 4 Entities Hold More Than 100K BTC

Close to 60,000 BTC Erased From Bitcoin Treasuries in 9 Months, 4 Entities Hold More Than 100K BTC

During the last two years, a number of public and private companies, exchange-traded products (ETPs), and countries have added bitcoin to their balance sheet. However, during the last nine months of 2022, the number of bitcoin stored in these types of treasuries dropped by 57,481 bitcoin, worth around $1.1 billion using today’s exchange rates. $1.1 Billion Worth of Bitcoin Has Been Removed From…

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[pavel-nosok]

Kenyan Central Bank Says It’s ‘Craziness’ to Convert Country’s Reserves to Bitcoin

Kenyan Central Bank Says It’s ‘Craziness’ to Convert Country’s Reserves to Bitcoin

The Kenyan central bank governor Patrick Njoroge has described as “craziness” the calls to convert Kenya’s reserves into bitcoin. He added that he would have to be out of his mind before agreeing to this. Njoroge argued that cryptocurrencies like bitcoin are not only volatile, but are hardly solving any problem. CBK Governor Says Converting Kenya’s Reserves to Bitcoin Deserves a Jail Term The…

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[pavel-nosok]

Bitcoin Treasuries Records Show $2.1 Billion in BTC Was Erased From Balance Sheets

Bitcoin Treasuries Records Show $2.1 Billion in BTC Was Erased From Balance Sheets

During the 12 months, public companies, private companies, exchange-traded funds, and even countries have added bitcoin to their balance sheets. As of July 17, 2022, the aforementioned types of entities hold approximately 1,325,396 bitcoins worth $27.84 billion today. However, the number of coins stored in bitcoin treasuries has dropped since June 5, 2021, by approximately 102,045 bitcoins worth…

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