The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Thursday! What a difference a day makes, with bitcoin prices rebounding following the Fed's decision to hold rates steady and Chair Powell's comments that banks are welcome to serve crypto customers.
In today's newsletter, ECB President Christine Lagarde rules out bitcoin reserves in the Eurozone while the Czech National Bank considers doing so. Plus, El Salvador passes a revised bitcoin law, Elon Musk-led Tesla reports a $600 million paper gain from its bitcoin holdings and more.
Meanwhile, the Norwegian sovereign wealth fund's indirect bitcoin exposure grows 153% to 3,821 BTC as its MicroStrategy holdings surpass $500 million.
Let's get started.
European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone's central bank reserves, citing liquidity, security and regulatory concerns.
El Salvador has passed a revised bitcoin bill, complying with the IMF's $1.4 billion loan deal, according to Reuters.
Elon Musk-led electric vehicle maker Tesla reported a $600 million paper gain on its bitcoin holdings as of Q4 2024 under new accounting rules that came into effect in December, allowing quarterly market valuation adjustments.
An informal vote among Ethereum supporters shows that 99% of 300 wallets that collectively hold over 50,000 ETH ($160 million) are backing Danny Ryan to become the next Ethereum Foundation leader.
Official Trump and Melania memecoins are now accepted for payments on Trump-branded fragrance and sneaker websites through a Solana Pay integration, which also supports dozens of other Solana-based tokens.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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