Rep. Nick Begich introduced the American Reserve Modernization Act (ARMA) to legally establish a US Strategic Bitcoin Reserve, locking federally held Bitcoin for at least 20 years. The bill allows the Treasury to buy up to 200,000 BTC annually for five years, aiming for a one-million-coin reserve without new taxpayer spending. This move builds on previous efforts and aims to provide long-term stability and federal custody standards for Bitcoin holdings. Upcoming committee hearings will determine the bill's progress in Congress.
Strategy, Michael Saylor's Bitcoin firm known for its 'hold forever' approach, sold $225 million worth of Bitcoin, sparking criticism from Bitcoin skeptic Peter Schiff. Schiff estimates the sale caused a realized loss of $54 million, as the firm sold...
Cryptocurrency markets saw a general decline with major coins like Bitcoin and Ethereum dropping by about 1.2% and 1.1% respectively. Bitcoin traded near $61,883 while Ethereum hovered around $1,748. Other altcoins also experienced losses, reflecting...
U.S. spot Bitcoin ETFs experienced $526.64 million in net outflows from June 29 to July 2, marking eight straight weeks of withdrawals as institutional investors reduce exposure amid market uncertainty. Despite this, Bitcoin remains above the $60K su...
Bitmine Immersion increased its Ethereum holdings by 42,197 ETH, worth about $74 million, raising its total to 5.74 million ETH or 4.8% of the circulating supply. Chairman Tom Lee credits this buying spree to rising investor optimism that the propose...
XRP's Binance Scarcity Index reached its highest level since 2024 as whales moved coins to non-custodial wallets, tightening supply and supporting price near $1.14. A BitGo whale transferred 114.9 billion Shiba Inu (SHIB) tokens to a new cold wallet,...
