States Moving Towards BTC
The list continues to pile up day after day, more and more states are filing bills for a Strategic Bitcoin Reserve (SBR). Today New Mexico becomes the 17th state to file a bill to purchase BTC as the states SRB. The real question is which state will get it approved first. Currently the odds are on Utah as they have already gotten the bill approved by the states sub-committee.
Once the bill gets full approval, Utah will invest up to 5% of public funds in BTC and crypto.
MicroStrategy Earnings
MSTR misses on both the EPS and Revenue numbers as they did not transition the FASB accounting rule that would allow them to mark their BTC as fair value. The stock price pushed slightly down after hours, as stock holders look forward to the Q1 2025 results where earnings will reflect full market value which will be HUGE.
MicroStrategy changes its name to Strategy. Strategy is the world’s first and largest Bitcoin Treasury Company, the largest independent, publicly traded business intelligence company. The new logo includes a stylized “B”, signifying the company’s Bitcoin strategy, and its unique position as a Bitcoin Treasury Company.
More and more companies are following the lead of MSTR. Semler Scientific announced they just purchased $88.5 million in BTC and Sol Strategies buys$41 million in SOL.
Quick Hits
- David Sacks calls for Crypto "Golden Age"
- FTX plans to start payouts to customers on Feb 18. Many of these customers are expected to buy crypto triggering a push up.
- Messari says SOL Q4 is the best in all of blockchain history.
- ARK predicts BTC price by 2030 - Bear Price $300k | Base Price $700k | Bull Price $1.5 MM
