🇺🇸 The Pentagon failed its 7th consecutive audit on Friday, unable to fully account for its $824 billion budget. 🇺🇸

🇷🇺 Russia eyes crypto mining freeze in energy-hungry regions:

Mining bans proposed in regions with power shortages, targeting winter months from Dec 2024 to Mar 2031. Priorities shift to essential energy needs as crypto takes a backseat. ⚡

Analysis:

What are bitcoiners saying about a U.S. Bitcoin Reserve Strategy?

Volatility raises questions about stability as a reserve.

Speculation about global competition over bitcoin reserves.

Corporate involvement could drive bitcoin prices higher.

Skepticism about perceived over-speculative financial reports.

Typically concerns arise over potential market manipulation.

Some say bitcoin's ethos clashes with government intervention.

Geopolitical responses to U.S. bitcoin adoption vary.

Economic risks linked to potential future government bitcoin sell-offs.

BIS guidelines allow central banks to hold volatile crypto.

Government interest reflects growing trust in Bitcoin.

Gold versus Bitcoin debate reignites while this is discussed.

Most HODLers see validation in potential government adoption.

The domino effect: nations follow the U.S. lead.

Concerns over centralized holdings emerge.

Skepticism toward sensationalist price predictions grows.

Market manipulation worries tied to large-scale adoption.

The market overall views potential U.S. adoption as bullish.

:saylor: "It’s been done before, it’s a very simple idea: figure out where the value is going to be, go buy it cheap and hold it. You’re a nation, this is what nations do. … Bitcoin is manifest destiny for the United States. I think the Trump administration understands it, I think Senator Lummis understands it … that’s why it will happen."

— Michael Saylor, MicroStrategy :microstrategy:

Crypto mixer Helix founder sentenced for laundering U.S. $300 million in #bitcoin. :newsbtc:

"There is a global race for #Bitcoin going on right now. Whether you are a local, state, or federal government official, you should be figuring out how to get as much Bitcoin onto the balance sheet as possible. This is not like gold where we can just go dig up more of it out of the ground."

— Anthony Pompliano :pomp:

Recently there has been an unconfirmed rumor floating around that Ripple CEO, Brad Garlinghouse had a secret meeting with :trump: President Trump.

Since Ripple has actively promoted its Central Bank Digital Currency (CBDC) solutions on its official website this raises concerns that Ripple wants to co-opt U.S. lawmakers into their anti-bitcoin agenda

That's true.

:lummis: Senator Cynthia Lummis has introduced the #Bitcoin Act of 2024, which is now in the initial stage of the legislative process.

For the proposal to become law, it must first pass through the Senate and the House of Representatives before reaching the President for approval. :trump:

The Bitcoin Act of 2024 proposes a US Strategic Bitcoin Reserve to strengthen the dollar and maintain crypto leadership.

The proposal includes acquiring 1 million bitcoin over five years and using :usfed: Federal Reserve remittances to fund the program.

Well said!

There is a reason institutions of that size, particularly those rooted in traditional finance, do not adopt self-custody. At this stage, it’s the same reason Michael Saylor does not self-custody MicroStrategy’s Bitcoin. Simply put, institutions like these are not structured in a way where self-custody would be ‘simple,’ as you described. However, with recent advancements in fair accounting standards and legislative clarity on the horizon, this dynamic is likely to change in the near future.

Satoshi era #Bitcoin wallet just moved 2000 BTC for the first time since 2010.

🇧🇹 Bhutan transfers 367 of its 12,206 #Bitcoin to :binance: Binance.

"hmmm..."

:gensler: Gary Gensler releases statement suggesting he may be leaving the :ussec: SEC.

"A little birdy told him to go bye-bye, perhaps?"

Goldman Sachs, once critical of #Bitcoin, now holds U.S. $718M in Bitcoin ETFs, with $461M in BlackRock's IBIT.

#Bitcoin miners have sent over 45K BTC to exchanges.

President-elect :trump: Donald Trump nominated #Bitcoin advocate :rfk: Robert F. Kennedy Jr. for U.S. Secretary of Health and Human Services on Thursday. During his 2024 campaign, :rfk: RFK Jr. proposed establishing a #Bitcoin strategic reserve to stabilize the U.S. dollar and exempt #Bitcoin profits from capital gains tax.

Spot bitcoin ETFs see $400 million in outflows, ending six-day inflow streak. :theblock:

:saylor: Michael Saylor :saylor: Plans for $100K #Bitcoin Party!

"The economy is not sending any signals that we need to be in a hurry to lower rates."

— Jerome Powell (Federal Reserve).