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- 🇨🇿 Czech Central Bank Eyes Bitcoin for Foreign Reserves as More Nations Plan to Stack BTC | Issue #144 ⚡
🇨🇿 Czech Central Bank Eyes Bitcoin for Foreign Reserves as More Nations Plan to Stack BTC | Issue #144 ⚡
Read issue #144 of the Bitcoin-only daily newsletter with the highest signal-to-noise ratio in the industry.
Naiw
January 09, 2025 • Reading Time: 10 minutes
Together with
Greetings Bitcoiner,
Welcome to Issue #144 of Bitcoin Breakdown, where we’re bringing you the first OPSEC Wednesday special, followed by the latest Quick Bits snippets.
But first, today’s Top Stories:
🇨🇿 Czech Central Bank Considers Adding Bitcoin to Its Foreign Exchange Reserves
🌎 New Fidelity Report Predicts Nations To Start Stacking BTC To Hedge Against Fiat Woes
🔑 Court Forces Bitcoin Investor to Surrender His Private Keys
Read time: 9 minutes
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TODAY’S TOP STORIES
🇨🇿 Czech Central Bank Considers Adding Bitcoin to Its Foreign Exchange Reserves
The governor of the Czech National Bank, Aleš Michl, has expressed interest in Bitcoin as a potential addition to the country’s foreign exchange reserves. They join a growing list of nations—including the US, Japan, and Switzerland—exploring Bitcoin as a strategic reserve asset, signaling a potential shift in how central banks view digital gold. The Czech Republic is also proposing crypto tax reforms to benefit long-term holders and small transactions. BitHub
🌎 New Fidelity Report Predicts Nations To Start Stacking BTC To Hedge Against Fiat Woes
Fidelity predicts more nations will add BTC to reserves as inflation rises, fiat currencies lose value, and Bitcoin adoption accelerates globally. They argue skipping Bitcoin could be riskier than holding it—just ask Bhutan and El Salvador, who banked solid returns. Plus, the US starting a Bitcoin reserve could spark a secret scramble, spiking prices while Bitcoin’s tech evolves with BitVM2, Ark, and mining decentralization. Atlas21
🔑 Court Forces Bitcoin Investor to Surrender His Private Keys
A federal court ordered Frank Ahlgren III to hand over his Bitcoin private keys and devices so US officials can unlock digital assets now valued at about $124 million after he concealed $3.7M in gains from Uncle Sam. The Bitcoin investor, who bought 1,366 BTC for $465 each in 2015, now faces two years in prison and must return $1.1M to the government. Bloomberg (Archive)
POLL
Which country do you believe is most likely to follow suit and adopt Bitcoin as a reserve asset next? |
QUICK BITS
Elon Musk and Michael Saylor endorse pro-Bitcoin Pierre Poilievre for Canadian PM.
JPMorgan highlights growing institutional adoption of Bitcoin as demand for safe-haven assets and record-breaking ETF and futures flows surge in 2024.
MARA mining company lends 7,377 BTC to generate yield, reports $3.9M interest income in Q3, and achieves 47 EH/s realized hashrate in December.
Bitcoin mining sees second month of profitability growth in December as hashrate slows and daily revenue rises, says JPMorgan.
Bitwise research head warns that bitcoin's renewed correlation with S&P 500 could pose risks despite Trump-driven rally and exchange outflows.
Telegram snitches on 2,000 user details with US authorities in 2024 after policy change following CEO Pavel Durov’s arrest.
CryptoQuant CEO Ki Young Ju predicts the longest Bitcoin bull market in history, fueled by steady liquidity and dollar impulses.
Satoshi Action Fund chairman Dennis Porter announces launch of strategic Bitcoin reserve legislation in 14 US states, with legislative processes beginning this month.
Fitch upgrades El Salvador to B- from CCC+, citing recent $1.4 billion IMF program and reduced financing needs, boosting the economic outlook.
Thumzup Media Corp adds 9.783 BTC to reserves at an average price of $102,220 per coin and plans to convert 90% of liquid assets into BTC via Coinbase custody.
Bitcoin ETFs buy BTC 20x faster than miners can produce new blocks, fueling concerns as issuers control over 5% of the total Bitcoin supply.
3Blue1Brown’s famous Bitcoin video restored after mistaken copyright takedown by ChainPatrol, blaming human error and pledging stricter prevention measures.
MicroStrategy’s Bitcoin strategy boosts shareholder value by $14 billion in 2024 with 74.3% annual returns and record BTC holdings.
AnchorWatch opens in the US, offering insured self-custody of Bitcoin through its miniscript-based Trident Vault for holders with $250K to $100M.
CleanSpark boosts its bitcoin stash to 9,952 coins, mining 668 BTC in December with a significant year-over-year hashrate increase.
Core Scientific liquidates only 79 of 291 mined BTC in December, signalling the miner's return to a 'partial hodl' strategy following two years of full liquidation.
South Korea’s financial regulator prepares to allow institutional investment in cryptocurrencies amid existing restrictions for retail traders.
In this week’s feature article, we explore the various ways online blackmail can happen, the steps you can take to prevent it, and how to deal with it should you find yourself targeted.
Online blackmail—or cyber extortion—is a rapidly growing threat. Cybercriminals often carry it out to profit from the anonymity and reach of the Internet. Bitcoin is frequently demanded as payment because it can be harder to trace and offers criminals a layer of privacy. If you become a target of such a threat, understanding how to respond is important.
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Naiw
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