Bitcoin Magazine

Bitcoin Magazine

Bitwise Joins Lombard’s Bitcoin Smart Accounts to Help Unlock Institutional Yield

Bitwise Asset Management has become the first strategic yield partner in Lombard’s Bitcoin Smart Accounts ecosystem, signaling a growing bridge between institutional custody and productive on-chain Bitcoin deployment. 

The collaboration is designed to unlock yield and liquidity for an estimated $500 billion in BTC currently held in regulated custody, without requiring asset transfers or modifications to existing custodial arrangements, Lombard said. 

Scheduled for a Q2 2026 launch, Bitcoin Smart Accounts will allow high-net-worth individuals, institutional asset managers, and corporate treasuries to earn yield or borrow against BTC while maintaining full control of their assets. 

Bitwise will provide institutional-grade yield strategies, combining DeFi lending with curated real-world asset portfolios, while Morpho will facilitate stablecoin liquidity for borrowing products.

Jacob Phillips, co-founder of Lombard, highlighted the significance of institutional adoption: “Following the February introduction of Bitcoin Smart Accounts, we’ve observed substantial demand for solutions that enable productive Bitcoin deployment while preserving existing custody. Bitwise brings the credibility and capabilities required to serve this market at scale.”

The partnership addresses longstanding operational inefficiencies in institutional Bitcoin markets. Traditionally, holders seeking liquidity faced three limited options: exiting custody, using opaque OTC lending channels, or selling assets — each presenting risk, cost, or lost upside. 

Lombard’s Smart Accounts leverage custodian-integrated infrastructure to recognize Bitcoin positions as collateral using cryptographic receipts (BTC.b) without transferring the underlying asset.

Generate returns while preserving bitcoin 

Hunter Horsley, CEO of Bitwise, framed the collaboration as a milestone for institutional Bitcoin: “We’re seeing growing demand for strategies that generate returns while preserving Bitcoin’s core properties. 

This partnership helps shape an ecosystem where BTC can function as productive, yield-generating capital while maintaining security and compliance standards.”

According to Horsley, the recent BTC rebound and dip is attracting institutional interest, with investors viewing sub-$70,000 levels as an opportunity to accumulate. While some retail traders remain cautious, looking for signs that the market has found a floor, larger investors are approaching the pullback with a different perspective.

Horsley believes long-term holders may feel uncertain during price drops, whereas institutions are seizing the chance to enter at levels they previously thought were out of reach. Some buyers are taking advantage of broader market weakness, as BTC becomes part of a wider selloff in liquid risk assets, creating renewed opportunities for accumulation.

The architecture for the collaboration is designed to scale. Each new custodian or protocol integration increases the utility of the system, creating network effects akin to those seen in ACH or SWIFT over decades. 

Lombard plans to expand custodian partnerships and whitelisted protocol integrations throughout 2026, aiming to mobilize hundreds of billions in institutionally held BTC into productive on-chain capital.

Editorial Disclaimer: We leverage AI as part of our editorial workflow, including to support research, image generation, and quality assurance processes. All content is directed, reviewed, and approved by our editorial team, who are accountable for accuracy and integrity. AI-generated images use only tools trained on properly license material. In Bitcoin, as in media: Don’t trust. Verify.

This post Bitwise Joins Lombard’s Bitcoin Smart Accounts to Help Unlock Institutional Yield first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Magazine

The Core Issue: Beneath The Binary, Verifying Trust

When most people download Bitcoin Core, their interaction with the build system is over in a few clicks. They grab the executable binary of the software, verify a signature (hopefully!), and start running a Bitcoin node. What they immediately see is running software. What they don’t see is the build system and extensive processes that produced that software. A build system that represents Bitcoin’s principles of decentralization, transparency, and verifiability.

Behind that download lies years of engineering work designed to answer a simple question: “Why should anyone trust this software?” The answer is: you shouldn’t have to. You should be able to verify.

In a time when software supply-chain attacks make global headlines, from compromised npm packages, backdoored libraries, rogue CI servers, Bitcoin Core’s build process stands as a quiet project of discipline. Its methods may seem slow and complicated compared to the frictionless convenience of “push to deploy,” but that’s the point. Security isn’t convenient.

To understand Bitcoin Core’s build system, we should understand: 

• Bitcoin Core’s Build System Philosophy
• Reproducible Builds
• Minimizing Dependencies
• No Auto-Updates
• Continuous Integration
• Ongoing Adaptation

Bitcoin Core’s Build System Philosophy

When it comes to Bitcoin’s decentralization, most people focus on miners, nodes, and developers. But decentralization doesn’t stop at the protocol’s participants. It extends to the way the software itself is built and distributed.

One principle in the Bitcoin ecosystem is “don’t trust, verify.” Running your own node is an act of verification, checking every block and transaction against the consensus rules. But the build system itself gives you another opportunity to verify, at the software level. Bitcoin is money without trusted intermediaries and Bitcoin Core works to be software without trusted builders. The build system takes great lengths to ensure that anyone, anywhere, can independently recreate the exact same binaries that appear on the bitcoincore.org website.

This philosophy traces back to Ken Thompson’s 1984 essay Reflections on Trusting Trust, which warned that even a clean-looking source code can’t be trusted if the compiler that built that software was itself compromised. Bitcoin’s developers took that lesson to heart. In the words of Bitcoin Core contributor Michael Ford (fanquake):

“Reproducible builds are critical, because no user of our software should have to trust that what’s contained inside is what we say it is. This must always be independently verifiable.”

A statement that is both a technical goal and part of the Bitcoin ethos.

In the security world, people talk about “attack surfaces.” Bitcoin Core’s build system treats the build process itself as an attack surface to be minimized and defended.

Reproducible Builds: Verification all the way down

The process of producing a Bitcoin Core release begins with the open-source codebase on GitHub. Every change is public. Every pull request is reviewed. But the journey from human-readable code to runnable binary software involves compilers, third-party libraries, and operating-systems which are themselves potential vectors for tampering, backdoors, or errors.

“Trusted third parties are security holes” – Nick Szabo (2001)

To address these concerns, Bitcoin Core architected a build process pipeline using Guix, a package manager designed to create reproducible, deterministic software environments.

When a new Bitcoin Core release is tagged, multiple independent contributors build the binaries from scratch using Guix. Each builder works in an isolated environment that guarantees identical toolchains, compiler versions, and system libraries. If all builders produce identical-bit outputs they know the build is deterministic.

Contributors then cryptographically sign the resulting binaries and publish those signatures on a separate GitHub repository ‘guix.sigs’ that lists these attestations for each release of Bitcoin Core. Some builders are Bitcoin Core developers, but it is not a requirement as the attestation process is open to anyone from the public. In fact, many non-code-contributors regularly contribute signatures.

This process is known as reproducible builds, and it is the antidote to Thompson’s “trusting trust.” It means anyone can take the open-source code, the same Guix environment, and independently confirm that the official binary matches what they built themselves. While reproducible builds can verify the software is a genuine representation of the software’s source code, the software’s correctness is left to processes around thorough testing and code review.

Most people will never perform a full compilation or check the Guix manifests or compare build hashes. They don’t need to. The existence of that infrastructure, and the people maintaining it, gives every user a foundation of earned confidence. 

The official binaries on bitcoincore.org aren’t just “produced by the Bitcoin Core maintainers”. They’re the intersection of dozens of independent builders’ outputs. What you eventually download is what everyone else built and verified to be authentic.

It’s verification all the way down.

Minimizing Dependencies: Less to Trust

Reproducibility is one side of the equation. The other is minimizing what needs to be reproduced. Bitcoin Core’s code is not the only code executed when running Bitcoin Core. Bitcoin Core also relies on external, third-party code and libraries to speed up development and productivity.

Over the past decade, Bitcoin Core developers have steadily stripped away these unnecessary and sometimes problematic third-party dependencies, like OpenSSL and MiniUPnP. Whether it is an external library or toolkit, these dependencies add complexity or import hidden assumptions. Projects like Boost and Libevent, once staples of Core’s codebase, are gradually being phased out or replaced with simpler, self-contained alternatives.

Why? Because every dependency you inherit is a potential supply-chain risk. It’s more code you didn’t write, don’t audit, and can’t fully control. Reducing dependencies makes the build system leaner, safer, and easier to verify.

Brink recently highlighted this effort in its “Minimizing Dependencies” blog post[1], noting that it’s not just a matter of simplicity, it’s about preserving the project’s security and autonomy. Each removed dependency is one fewer external party the project must trust and one less potential for a backdoor.

The eventual goal is to produce fully static binaries: executables that contain everything they need to run, with no dynamic or runtime dependencies. This self-containment means no reliance on external libraries that could differ from one operating system to another.

In a world where most software grows heavier and more dependent on centralized package ecosystems, Bitcoin Core is moving in the opposite direction: toward minimalism and independence.

No Auto-Updates

In most modern software, users are shielded from decisions of what software version to update to, or decisions to update the software at all. You install an app, and it quietly and automatically updates itself to the latest versions in the background. While this is convenient, it is antithetical to Bitcoin Core’s philosophy.

Bitcoin Core has never included automatic updates, and developers have said it never will. Automatic updates concentrate power. They create a single group that can push (potentially malicious) code to every node on the network. This is exactly the sort of centralized control Bitcoin was built to avoid. By requiring users to manually download, verify, and install new versions, Bitcoin Core reinforces individual responsibility and verifiable consent.

The build system and the lack of auto-updates are two halves of the same principle. Only the node runner decides what to run and can verify that the software that is run is authentic.

Continuous Integration: Move slow and fix things

In Silicon Valley, continuous integration and continuous deployment (CI/CD) are the hallmarks of agile software development. Ship fast. Iterate faster. Let automation do the rest.

Bitcoin Core takes a different approach. Its CI systems exist not to accelerate deployment but to safeguard integrity. Automated builds test consistency across platforms. Bitcoin Core’s build system is designed to be agnostic to hardware and operating systems as much as possible. The project can build binaries for Linux, macOS, and Windows as well as for multiple architectures including x86_64, aarch64 (ARM), and even riscv64. The continuous integration system ensures this compatibility as well as software integrity by performing hundreds of tests for each proposed change.

The result is a culture where “continuous integration” means continuous testing, verification and security, not continuous innovation.

Move slow and fix things.

Ongoing Adaptation: Are we done yet?

The build system isn’t static. Developers continue to refine it by reducing dependencies, improving cross-architecture builds, and exploring a fully static build future with zero runtime dependencies. 

While Bitcoin Core’s build system strives for determinism, the build system itself cannot be static. The world it operates within is constantly shifting. Operating systems, compilers, libraries, and hardware architectures all change. Each new release of macOS or glibc, every deprecation of a compiler flag, or emerging CPU architecture introduces subtle incompatibilities that must be addressed. A build system that stood still would, over time, cease to build at all.

The paradox of reproducible builds is that they require continual evolution to remain reproducible. Developers must constantly pin, patch, and sometimes replace toolchains to preserve determinism against a moving backdrop of change. Maintaining this balance between stability and adaptability is part of Bitcoin’s ongoing resilience.

Don’t miss your chance to own The Core Issue — featuring articles written by many Core Developers explaining the projects they work on themselves!

This piece is the Letter from the Editor featured in the latest Print edition of Bitcoin Magazine, The Core Issue. We’re sharing it here as an early look at the ideas explored throughout the full issue.

[1] https://brink.dev/blog/2025/09/19/minimizing-dependencies/ 

This post The Core Issue: Beneath The Binary, Verifying Trust first appeared on Bitcoin Magazine and is written by Mike Schmidt.

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Bitcoin Magazine

CFTC Launches Innovation Task Force for Bitcoin, Crypto, AI, and Prediction Markets

The Commodity Futures Trading Commission has launched a new Innovation Task Force aimed at developing clear regulatory frameworks for emerging technologies in U.S. derivatives markets.

CFTC Chairman Michael S. Selig said the task force will focus on crypto assets, blockchain, artificial intelligence, autonomous systems, and prediction markets. “By establishing a clear regulatory framework for innovators building on the new frontier of finance, we can foster responsible innovation at home,” Selig said.

The task force will collaborate with the SEC and its Crypto Task Force, as well as the CFTC’s Innovation Advisory Committee, which includes over 30 executives from companies like Kalshi and Nasdaq. Michael J. Passalacqua, senior advisor to the Chairman, will lead the initiative.

Selig emphasized the goal of creating a space for innovators to engage directly with regulators. The move comes amid increasing coordination between the CFTC and SEC on crypto regulation, including recent guidance clarifying jurisdictional boundaries.

The CFTC is also intensifying oversight of prediction markets, asserting authority despite opposition from states citing local gaming laws.

SEC and CFTC join hands over crypto

Earlier this month, the U.S. Securities and Exchange Commission (SEC) and the CFTC announced a historic Memorandum of Understanding (MOU) aimed at harmonizing their regulatory approaches to the digital asset and emerging technology sectors. 

The agreement made it clear they have a commitment to support innovation, protect investors, and reduce duplicative or conflicting rules that previously created a “turf war” between the agencies.

Also, the two agencies issued joint guidance last week clarifying that most digital assets — including stablecoins, digital commodities, and collectibles — are not securities, introducing a formal “token taxonomy” while reserving traditional securities laws only for blockchain-based assets resembling equities or debt. 

The framework also clarifies that crypto activities like mining, staking, and airdrops generally do not qualify as securities transactions, and that an asset’s classification can change.

Under the MOU, the SEC and CFTC will coordinate oversight, data sharing, and joint rulemaking, particularly around product definitions, clearing, margin, trade reporting, and intermediaries. 

SEC Chair Paul Atkins said that the effort seeks to align definitions of digital assets as securities or non-securities and provide a clear, predictable regulatory framework. 

Selig said that harmonization will modernize the regulatory landscape, reduce burdens, and close gaps, helping maintain U.S. financial market leadership.

The agencies also launched a Joint Harmonization Initiative, co-led by Robert Teply (SEC) and Meghan Tente (CFTC), to facilitate cross-agency coordination in policymaking, examinations, risk monitoring, and enforcement. 

This coordinated approach marks a major step toward clarity and efficiency for bitcoin and crypto firms, investors, and other market participants navigating U.S. financial regulations.

This post CFTC Launches Innovation Task Force for Bitcoin, Crypto, AI, and Prediction Markets first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Magazine

Saylor’s Strategy (MSTR) Arms Itself With $44.1 Billion ATM Capacity to Fuel Bitcoin Treasury Expansion

Strategy has moved to sharply expand its capacity to raise capital through at‑the‑market equity and preferred offerings, adding new Wall Street agents and reshaping its preferred stock authorization to favor a key floating‑rate series. 

The steps, disclosed in a March 23 Form 8‑K, give the company scope to sell up to an additional $44.1 billion in securities on top of large existing programs.​

In the filing, Strategy said it entered joint agreements with Moelis & Company LLC, A.G.P./Alliance Global Partners, and StoneX Financial Inc., adding them as sales agents under its Omnibus Sales Agreement dated November 4, 2025.

That agreement already named TD Securities (USA), The Benchmark Company, Barclays Capital, BTIG, Canaccord Genuity, Cantor Fitzgerald, Clear Street, Compass Point, H.C. Wainwright, Keefe Bruyette & Woods, Maxim Group, Mizuho Securities USA, Morgan Stanley, Santander US Capital Markets, SG Americas Securities, and TCBI Securities doing business as Texas Capital Securities as agents.​

Under the joinders, each of Moelis, Alliance, and StoneX becomes an agent on the same contractual footing as the original banks, with the right and obligation to place Strategy’s securities in at‑the‑market, or “ATM,” transactions. 

JUST IN: Michael Saylor’s Strategy announces new $42 billion plan to buy more Bitcoin pic.twitter.com/w2WA2YIzHl

— Bitcoin Magazine (@BitcoinMagazine) March 23, 2026

Strategy’s new ATM programs and size

Alongside the added agents, Strategy and the syndicate executed three “Additional Program Addenda” that establish new ATM programs for its Class A common stock (ticker MSTR), its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), and its 8.00% Series A Perpetual Strike Preferred Stock (STRK). 

These addenda operate under Section 8(i) of the Omnibus Sales Agreement and are structured so they do not cancel or limit rights under the underlying framework.​

The company then filed new prospectus supplement annexes under its automatic shelf registration statement, which became effective on January 27, 2025. 

Those annexes authorize at‑the‑market offerings of:​

• Up to $21.0 billion of new Class A common stock (the “New Common ATM Shares”).​
• Up to $21.0 billion of new STRC preferred shares (the “New STRC ATM Shares”).
• Up to $2.1 billion of new STRK preferred shares (the “New STRK ATM Shares”).​

In other words, Strategy has established new ATM programs to sell up to $21 billion of common stock, $21 billion of STRC preferred, and $2.1 billion of STRK preferred shares.

These programs supplement existing authorizations, with the old STRK program replaced by the new $2.1 billion offering.

These new capacities sit alongside existing shelf authorizations. Strategy had previously registered the sale of about $15.85 billion of common stock and $4.2 billion of STRC preferred under prior annexes and the base prospectus, and it intends to keep using those prior prospectuses until those capacities are fully sold. 

In contrast, the company terminated its prior STRK preferred ATM program effective March 22, 2026, and the new $2.1 billion STRK annex replaces that earlier effort.​

Strategic tilt in preferred structure

To support this mix of funding options, Strategy also amended its charter with two targeted preferred stock actions. A Certificate of Increase raised authorized shares of STRC preferred from 70,435,353 to 282,556,565, more than tripling the pool available for issuance. A separate Certificate of Decrease reduced authorized STRK preferred shares from 269,800,000 to 40,270,744.​

Both certificates were adopted by the board’s Pricing and Financing Committee under authority granted in the company’s Second Restated Certificate of Incorporation and Section 151(g) of the Delaware General Corporation Law. 

Strategy also said they secured legal opinions confirming that its new ATM shares — both common and preferred — will be validly issued, fully paid, and non-assessable. 

The 8‑K clarifies that no offers or sales are happening yet, and any actual issuances will depend on market conditions, investor demand, and internal decisions. 

Overall, the expanded ATM programs and reallocated preferred shares give Strategy flexibility to raise capital while prioritizing floating‑rate preferred issuance over the 8.00% STRK series.

This post Saylor’s Strategy (MSTR) Arms Itself With $44.1 Billion ATM Capacity to Fuel Bitcoin Treasury Expansion first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Magazine

White House Reaches Tentative Crypto Regulatory Agreement: Report

Key senators and the White House have reached a tentative agreement on cryptocurrency legislation aimed at resolving a dispute between banks and digital asset firms over stablecoin yields, according to Politico reporting.

The move could clear the way for a landmark crypto regulatory bill stalled in the Senate Banking Committee since January.

Sen. Thom Tillis (R-N.C.) and Sen. Angela Alsobrooks (D-Md.) said Friday they have an “agreement in principle” on language intended to balance innovation with financial stability. The legislation seeks to prevent stablecoin rewards programs from triggering widespread deposit withdrawals from traditional banks, a concern raised by Wall Street groups.

“The agreement allows us to protect innovation while giving us the opportunity to prevent widespread deposit flight,” Alsobrooks said. Tillis described the deal as a positive step but noted the need to consult with industry stakeholders before finalizing details.

While specifics of the agreement remain unclear, early indications suggest it could bar yield payments on passive stablecoin balances. The tentative deal signals progress toward an April vote on the crypto market-structure bill, potentially unlocking the first major federal regulatory framework for digital assets.

Crypto legislation background 

The fight over a U.S. crypto market‑structure bill stems from a broader effort to build on 2025’s landmark stablecoin legislation, the GENIUS Act, which established a federal framework for stablecoins — requiring full backing, transparency and reserve disclosures for digital dollars. 

That law was widely seen in the crypto industry as a breakthrough for regulatory clarity while attempting to align digital assets with traditional financial standards.

After the GENIUS Act’s passage, the Senate turned its attention to more expansive digital asset oversight through what’s often referred to as the CLARITY Act or the crypto market‑structure bill. 

This legislation aims to define how U.S. regulators would police and oversee trading platforms, tokens, custody services and other infrastructure — essentially the backbone of a regulated digital asset ecosystem.

However, negotiations bogged down over one central issue: whether regulated exchanges should be allowed to offer yield‑bearing rewards on stablecoin holdings. 

Banks and major financial institutions argue that these rewards resemble unregulated deposit‑like products that could siphon funds away from FDIC‑insured accounts, potentially threatening lending and financial stability. 

Crypto firms — including major issuers like Circle and Coinbase — counter that such incentives are crucial for competitive markets and for user adoption of digital money.

The current tentative deal being negotiated between senators and the White House seeks a middle ground — potentially allowing activity‑based rewards while restricting passive yield — in hopes of unlocking Senate committee action by April. Whether that compromise holds both bank and crypto support will be decisive for the future of U.S. digital asset regulation. 

This post White House Reaches Tentative Crypto Regulatory Agreement: Report first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Magazine

Bitcoin Price Holds $70,000 as War-Driven Inflation Fears Meet Defensive Market Positioning

Bitcoin price held near the $70,000 level today as geopolitical risks tied to the conflict involving Iran shifted and macro expectations weighed on broader risk markets, while derivatives data and on-chain metrics pointed to a market in consolidation rather than capitulation.

The bitcoin price hovered around $70,500 in early Friday trading, following a pullback from a recent high near $76,000. 

The move came as energy markets surged and inflation concerns returned to the forefront, limiting upside across risk assets. Despite the pressure, Bitcoin price has shown relative stability compared with commodities and equities during the same period.

Research from VanEck frames the current environment as a post-stress reset. The firm’s mid-March ChainCheck report notes that Bitcoin price’s 30-day average price declined 19%, yet spot prices stabilized as realized volatility fell from 80 to near 50. 

At the same time, futures funding rates dropped from 4.1% to 2.7%, signaling reduced leverage and lower speculative intensity.

Options markets reflect a defensive posture. VanEck data shows the put-to-call open interest ratio averaged 0.77, the highest level since mid-2021, placing current positioning in the 91st percentile of observations since 2019. 

Demand for downside protection remains elevated, with put premiums reaching record levels relative to spot trading volume. Investors continue to allocate capital toward hedging, even as volatility declines.

Future positive returns for Bitcoin price?

This pattern has historical significance. According to VanEck, similar levels of options skew have preceded positive forward returns. Periods with comparable readings have produced average gains of more than 13% over the following 90 days and more than 100% over a one-year horizon. 

The data suggests that extreme caution in derivatives markets has often coincided with late-stage drawdowns rather than the start of new declines.

Onchain activity presents a quieter picture. Transfer volume fell 31% over the past month, while daily fees dropped 27%. Active addresses declined modestly, indicating limited participation at the network level. 

This trend led to the growing role of offchain venues, including exchange-traded products and derivatives platforms, which now account for a larger share of trading activity.

Long-term holders appear to be reducing distribution. Transfer volume declined across all age cohorts, signaling that older coins remain largely inactive. This shift points to reduced selling pressure from experienced market participants, a factor often associated with price stabilization phases.

Miner behavior adds another layer. Revenues declined 11% in the past month, reflecting tighter economics. Yet selling pressure from miners has not surged. Onchain flows to exchanges rose only 1%, while aggregate miner balances declined at a gradual pace. Over the past year, miners have sold most newly issued supply but have not accelerated liquidation of existing reserves.

Institutional flows, however, have softened. 

Spot Bitcoin exchange-traded funds recorded net outflows in recent sessions, reversing a prior streak of inflows. The shift aligns with broader risk aversion as investors respond to macro uncertainty and rising energy costs.

Yesterday, Morgan Stanley confirmed that its proposed spot bitcoin exchange-traded fund will trade under the ticker MSBT on NYSE Arca, according to an updated filing with the U.S. Securities and Exchange Commission.

At the time of writing, the bitcoin price is $70,371.

This post Bitcoin Price Holds $70,000 as War-Driven Inflation Fears Meet Defensive Market Positioning first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Magazine

Adam Back Confirmed As A Bitcoin 2026 Speaker

Adam Back has been officially confirmed as a speaker at Bitcoin 2026, returning to the conference as one of the few people in the world whose contributions to Bitcoin predate Bitcoin itself. As Co-Founder and CEO of Blockstream and CEO of Bitcoin Standard Treasury Company (BSTR), Back comes to Las Vegas operating at the intersection of Bitcoin infrastructure and capital markets like never before.

In 1997, Back invented Hashcash — a proof-of-work system originally built to combat email spam that became the direct technical foundation for Bitcoin’s mining process. Satoshi Nakamoto cited Back by name in the Bitcoin white paper, writing that the network would need “a proof-of-work system similar to Adam Back’s Hashcash.” Before the genesis block was ever mined, Satoshi emailed Back directly.

Blockstream, which Back co-founded in 2014, develops Bitcoin infrastructure across three areas: consumer self-custody tools including the open-source Jade hardware wallet, enterprise settlement and asset issuance on the Liquid Network, and institutional products through Blockstream Asset Management — with with Liquid Network closing 2025 with close to $5 billion in TVL. At Bitcoin 2025, Back framed the company’s direction: “We’re laser-focused on Bitcoin. At Blockstream, we are here to provide the infrastructure to enable that.”

On the capital markets side, Bitcoin Standard Treasury Company has entered into a definitive agreement to go public through a merger with Cantor Equity Partners I (CEPO), structured with 30,021 BTC on its balance sheet and up to $1.5 billion in PIPE financing — the largest ever announced alongside a Bitcoin treasury SPAC merger. As of March 2026, BSTR is awaiting completion of the de-SPAC process, with shareholder approval targeted as early as April, after which the combined company is expected to trade on Nasdaq under the ticker “BSTR.”

From inventing the proof-of-work system that makes Bitcoin possible, to building the infrastructure layer on top of it, to now bringing over 30,000 BTC to public markets — Back’s is unlike anyone else on the Bitcoin 2026 stage. His appearance at The Venetian this April will be one of the most technically credible perspectives at the conference on where Bitcoin’s protocol, infrastructure, and capital markets are all heading at once.

LEGENDARY ADAM BACK TO SPEAK AT BITCOIN 2026

“Dips exist to transfer bitcoin from weak hands to strong hands.” – @adam3us pic.twitter.com/dZwfxRKtWq

— The Bitcoin Conference (@TheBitcoinConf) March 9, 2026

Bitcoin 2026 Returns to Las Vegas Bigger Than Ever

Bitcoin 2026 will take place April 27–29 at The Venetian, Las Vegas, and is expected to be the biggest Bitcoin event of the year.

Focused on the future of money, Bitcoin 2026 will bring together Bitcoin builders, investors, miners, policymakers, technologists, and newcomers from around the world. The event will feature a wide range of pass types, including general admission passes designed specifically for those new to Bitcoin, alongside premium passes for professionals, enterprises, and institutions.

With multiple stages, immersive experiences, technical workshops, and headline keynotes, Bitcoin 2026 is designed to serve both first-time attendees and long-time Bitcoiners shaping the next era of global adoption.

Past Bitcoin Conferences in the U.S.

Bitcoin’s flagship conference has scaled dramatically over the past five years:

• 2021 – Miami: 11,000 attendees
• 2022 – Miami: 26,000 attendees
• 2023 – Miami: 15,000 attendees
• 2024 – Nashville: 22,000 attendees
• 2025 – Las Vegas: 35,000 attendees

Get Your Bitcoin 2026 Pass

Bitcoin Magazine readers can save 10% on Bitcoin 2026 tickets using code ‘ARTICLE10‘ at checkout.

Stay at The official hotel of Bitcoin 2026, The Venetian, and get a guaranteed low rate plus 15% off your pass. Hotel Prices increase soon, be in the middle of where the fun is all happening, and where the networking never ends.

And don’t forget:

Volunteer at Bitcoin 2026 and get Pro Pass access plus exclusive perks.

All students ages 13+ can apply for a Student Pass and get free general admission access to Bitcoin 2026.

Location: The Venetian, Las Vegas
Dates: April 27–29, 2026

For more information and exclusive offers, visit the Bitcoin Conference on X here.

Why Attend Bitcoin 2026?

Bitcoin 2026 is the definitive gathering for anyone serious about the future of money. With 500+ speakers, multiple world-class stages, and programming spanning Bitcoin fundamentals, open-source development, enterprise adoption, mining, energy, AI, policy, and culture, the conference brings every corner of the Bitcoin ecosystem together under one roof.

From headline keynotes on the Nakamoto Stage to deep technical sessions for builders, institutional strategy discussions for enterprises, and beginner-friendly Bitcoin 101 education, Bitcoin 2026 is designed for everyone—from first-time attendees to the leaders shaping Bitcoin’s global adoption.

Whether you’re looking to learn, build, invest, network, or influence, Bitcoin 2026 is where Bitcoin’s next chapter is written.

Bitcoin 2026 Pass Types: Something for Everyone

Bitcoin 2026 offers a range of pass options designed to meet the needs of newcomers, professionals, enterprises, and high-net-worth Bitcoiners alike.

Bitcoin 2026 General Admission Pass

Ideal for newcomers and those looking to experience the heart of the conference.

• Limited access on Days 2 & 3
• Entry to Main Stage
• Access to Genesis Stage
• Full access to the Expo Hall

Bitcoin 2026 Pro Pass

Designed for professionals, operators, and serious Bitcoin participants.

Includes all General Admission features, plus:

• Full 3-day access, including Pro Day
• Entry to the Pro Pass Reception
• Access to Enterprise Hall, Enterprise Stage, and Networking Lounge
• Conference App networking features
• Access to the Bitcoin For Corporations Symposium
• Entry to Compute Village and Energy Stage
• Complimentary lunch, coffee, tea, and snacks
• Dedicated registration and check-in
• Reserved seating at Main Stage
• Huge savings when you bundle your hotel and Pro Pass

Bitcoin 2026 Whale Pass

The all-inclusive, premium Bitcoin 2026 experience.

Includes all Pro Pass features, plus:

• Reserved seating at Main Stage
• All-inclusive gourmet food and beverages
• Entry to Whale Night and Whale Reception
• Access to all official after-parties
• Networking app access to connect with other Whales
• Premium access to The Deep — an exclusive networking lounge with intimate speaker sessions
• Complimentary stay at The Venetian when you bundle your whale pass and hotel (use promo code ‘WHALEHOTEL’ here)

This is the most immersive way to experience Bitcoin 2026.

Bitcoin 2026 After Hours Pass

Your ticket to the night.

Most deals are done with a drink in your hand. Get exclusive access to 3 official Bitcoin 2026 after-parties across Las Vegas — each with a 2-hour open bar — where the real conversations happen and the best connections are made.

• Access to 3 official Bitcoin 2026 after-parties
• 2-hour open bar at each event
• Evening events across Las Vegas, April 27–29
• Network with Bitcoiners, builders, and industry leaders after hours

More headline speaker announcements are coming soon.

Don’t miss Bitcoin 2026.

This post Adam Back Confirmed As A Bitcoin 2026 Speaker first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

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Bitcoin Magazine

Strive (ASST) Accumulates 13,600 Bitcoin Despite $393 Million Loss in First Six Months as Public Company

Strive, Inc., the corporate treasury firm founded by Vivek Ramaswamy, reported that it amassed 13,628 bitcoin as of March 17, 2026, placing the company among the top 10 corporate holders globally. 

The accumulation came in the roughly six months following Strive’s September 2025 public listing, even as the company posted a GAAP net loss of $393.6 million for the period ending December 31, 2025.

The bulk of Strive’s bitcoin holdings came from multiple sources. Initial private investment proceeds and stock exchange activity contributed 5,886 bitcoin, while the acquisition of Semler Scientific, Inc. added approximately 5,048 bitcoin, the company said.

Semler Scientific had built its own digital asset reserve prior to the acquisition. An additional 2,694 bitcoin came from capital markets activity, including public offerings of Strive’s Variable Rate Series A Perpetual Preferred Stock (“SATA”), follow-on offerings, and at-the-market issuances.

Strive’s losses

Strive’s financial statements highlighted the tension between aggressive asset accumulation and market volatility. The firm’s GAAP net loss largely stemmed from non-cash items. Unrealized losses on bitcoin holdings accounted for $194.5 million, or nearly 50 percent of the total GAAP deficit. 

Impairment of goodwill and intangible assets tied to the Semler acquisition added $140.8 million, and transaction-related expenses contributed $12.4 million. Adjusted for these items, the company’s non-GAAP loss attributable to common shareholders narrowed to $208.2 million, or $4.73 per diluted share.

Management introduced a proprietary metric, “Bitcoin Yield,” to measure the performance of its digital asset portfolio. By that measure, Strive reported a 22.2 percent yield in Q4 2025 and 13.8 percent quarter-to-date through mid-March 2026, equating to bitcoin gains of 1,305 and 1,050 coins, respectively. In dollar terms, these gains translated to $114.3 million and $78.2 million over the same periods.

The company financed its bitcoin strategy largely through structured finance products. Strive raised $148.4 million in net proceeds from its initial SATA preferred stock offering in November 2025, priced at $80 per share. 

A follow-on offering in January 2026 generated $109.2 million at $90 per share. Proceeds were used to retire a $20 million loan from Coinbase Credit Inc., assumed as part of the Semler acquisition, and to exchange preferred shares for $90 million of Semler’s convertible debt.

Strive’s acquisition of Semler Scientific also included an operating business now held under a wholly-owned subsidiary, Clinivanta, focused on preventative healthcare. 

The company appointed Michelle Fox, formerly Chief Medical Officer of Teleflex, as CEO of Clinivanta in February 2026, signaling an intent to develop the business alongside its primary focus on bitcoin accumulation.

Chairman and CEO Matthew Cole framed the results as a validation of Strive’s structured finance approach. “The most important success in our first six months as a public company was cementing our foundation as a structured finance company laser-focused on digital credit,” 

Cole said. He emphasized that the SATA instrument provides a liquid, scalable solution for investors seeking double-digit yield with minimal volatility, aligning with Strive’s strategy of balancing bitcoin accumulation with broader financial operations.

As of March 17, 2026, Strive held $83.7 million in cash and $50.4 million in fair value of STRC preferred stock. 

This post Strive (ASST) Accumulates 13,600 Bitcoin Despite $393 Million Loss in First Six Months as Public Company first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Zip Ties, Sleeping Pills and Pepper Spray: Canadian Crypto Millionaire Targeted in Foiled Madrid Kidnapping

A Canadian crypto entrepreneur survived a kidnapping attempt Monday night on one of Madrid’s busiest nightlife streets, after witnesses alerted police and helped foil the attack.

The incident occurred at approximately 11 p.m. near the intersection of Calle Claudio Coello and Calle Jorge Juan in the Salamanca district, a hub of high-end restaurants and bars. 

The victim had just left Lobito de Mar, the restaurant owned by chef Dani García, when three men forcibly removed him from the street, pepper-sprayed him, and threw him into a Ford Transit van.

Several pedestrians and residents on nearby balconies immediately called authorities. Spanish National Police tracked the vehicle to Ronda de Toledo, about 15 minutes from the scene, and arrested two of the attackers. One suspect escaped and remains at large, according to reports.

Police identified the arrested suspects as Serbian men, ages 33 and 45, both with no prior criminal record.

Investigators say the attackers had planned the abduction to extract the victim’s cryptocurrency passwords and gain access to his digital assets. The suspects also attempted to steal the Canadian’s €100,000 luxury watch.

Authorities determined the kidnappers had followed the businessman from Barcelona to Madrid, where he had traveled to finalize a cryptocurrency deal. 

The van used in the crime had an altered license plate, rented specifically for the abduction, and contained plastic zip ties and sedative pills, suggesting a premeditated scheme. GPS data recovered from the vehicle indicated the suspects intended to transport the victim to Petrer, a town in Alicante.

Inside the van, the victim was left alone while police focused on detaining the suspects. He freed himself from the zip ties and flagged down a taxi, which took him to La Princesa Hospital for treatment of injuries sustained during the initial assault. Police recovered firearms from the van during their investigation.

Be careful with your crypto

The kidnapping aligns with a recent rise in physical attacks targeting cryptocurrency holders across Europe. France, for example, has recorded 11 similar incidents so far in 2026, reflecting a trend of criminals seeking direct access to digital assets rather than traditional bank accounts.

Security experts refer to such attacks as “wrench attacks,” in which criminals attempt to obtain wallet seed phrases or private keys through coercion or violence. 

Authorities warn that cryptocurrency entrepreneurs are increasingly at risk due to the digital and highly liquid nature of their assets.

Police continue to search for the third suspect and have appealed to the public for information. 

The investigation remains open, with officers examining surveillance footage and digital evidence to determine whether the plot involved additional collaborators or extended surveillance beyond the two confirmed attackers.

This post Zip Ties, Sleeping Pills and Pepper Spray: Canadian Crypto Millionaire Targeted in Foiled Madrid Kidnapping first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Boltz Exchange Launches Atomic USDT Swaps for Lightning Network Users

Boltz Exchange launched USDT Swaps on March 18, 2026, introducing atomic, non-custodial swaps between sats on the Lightning Network and USDT on Arbitrum-based networks via USDT0.

The integration relies on USDT0, an omnichain version of Tether built on LayerZero’s Omnichain Fungible Token (OFT) standard. USDT0 concentrates liquidity into a single token primarily on Arbitrum, eliminating the need for Boltz to build separate liquidity pools and integrations across dozens of USDT chains like Ethereum, Polygon, Optimism, Rootstock, and others. This approach delivers seamless swaps to and from USDT to Bitcoiners that do not care to understand the complexities of blockchain bridge networks. While giving DEFI a direct path to lightning payments, without counterparty risk. 

Users also gain practical access to the world’s leading stablecoin, while sidestepping custody risks from centralized exchanges or anonymous “trust me bro” swap services, as well as the privacy trade-offs of KYC-heavy platforms. Business applications include topping up crypto debit cards that natively support USDT by converting Lightning sats in seconds, receiving Lightning payments when clients or counterparties send USDT, or merchants accepting USDT inflows but settling revenue in Lightning sats on their preferred terms—all without relinquishing control of funds or trusting third parties at any point. Its all open source.

Atomic swaps ensure trustless, simultaneous execution of trades across different blockchains or layers, preventing one party from defaulting after receiving assets. In traditional swaps, especially cross-chain, users face timing risks where one side could claim funds without delivering the other. Atomic swaps resolve this through cryptographic commitments (like hash preimages) and conditional claims: both legs of the trade either complete together or fail entirely, reverting funds to their original owners. Boltz achieves this for Lightning and USDT by routing through tBTC, Threshold’s permissionless ERC20 Bitcoin wrapper on Arbitrum. The flow is Lightning to tBTC via an atomic Boltz swap, then to USDT0 via a DEX swap akin to those on Uniswap, stitched into one irreversible transaction by the Router contract on Arbitrum. Gas abstraction removes the need for ETH on Arbitrum, making the process seamless for Bitcoin-native users.

Boltz plans to expand USDT Swaps across all currently supported Bitcoin layers, including on-chain BTC, Liquid, Rootstock, and Arkade, broadening the utility for businesses and individuals holding Bitcoin in various forms. Future updates will also incorporate USDT0’s Legacy Mesh, which is expected to enable direct support for additional chains such as Tron and Solana. Tron currently holds the largest USDT supply at approximately $83.9 billion according to Tether’s March 17, 2026 transparency report, underscoring the demand for eventual integration on high-volume networks beyond the initial OFT-focused deployment.

This post Boltz Exchange Launches Atomic USDT Swaps for Lightning Network Users first appeared on Bitcoin Magazine and is written by Juan Galt.

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Vietnam Begins to Restrict Overseas Crypto Trading, Domestic Licensing Race Accelerates

Vietnam is preparing to restrict access to overseas cryptocurrency platforms as regulators push forward with a plan to launch the country’s first licensed digital asset exchanges, according to a government document reviewed by Reuters.

The Ministry of Finance is drafting rules that would prohibit Vietnamese citizens from trading on foreign exchanges such as Binance, OKX, and Bybit. The move aligns with a five-year pilot program designed to bring crypto trading under domestic supervision while limiting capital outflows.

The policy shift comes as Vietnam ranks among the most active cryptocurrency markets globally. Data from Chainalysis shows Vietnamese users transacted more than $200 billion in digital assets in the 12 months through June 2025, placing the country fourth on its global adoption index. Crypto usage in Vietnam spans remittances, savings, and gaming, reflecting integration into daily financial activity.

Under the proposed framework, only locally licensed platforms would be permitted to operate, requiring users to migrate away from international exchanges. 

Authorities say the approach aims to strengthen oversight, reduce fraud risks, and retain transaction-related revenue within the domestic economy.

A Vietnamese crypto licensing arms race begins 

At least five firms have passed an initial qualification round for exchange licenses, including affiliates of Techcombank, VPBank, and LPBank, along with VIX Securities and Sun Group. 

The licensing regime sets a high bar for entry. Applicants must meet a minimum charter capital requirement of 10 trillion Vietnamese dong, or roughly $400 million, and comply with strict standards covering governance, cybersecurity, and anti-money laundering controls. Foreign ownership is capped at 49%, signaling a preference for domestic control over key market infrastructure.

The effort builds on a legal shift that began in 2025, when Vietnam’s National Assembly recognized crypto assets as property under the Law on Digital Technology Industry. While cryptocurrencies remain non-legal tender, the change established a foundation for regulated market development.

Officials and industry representatives say restricting offshore trading could redirect liquidity toward domestic platforms, though it may limit access to global markets. 

Authorities are also considering a tax framework that could include a levy on crypto transactions conducted through licensed exchanges. Details remain under review as regulators finalize the structure of the pilot program.

The first licensed exchanges could launch as early as March 2026. The outcome of the pilot is expected to shape Vietnam’s long-term approach to digital asset regulation and position the country within the broader Southeast Asian crypto market.

This post Vietnam Begins to Restrict Overseas Crypto Trading, Domestic Licensing Race Accelerates first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin’s Ownership Base is Maturing, Reducing Reliance on Retail: Analysts

Bitcoin investors have shown surprising resilience despite recent market turbulence, fueled by institutional investors and aggressive corporate treasury buyers. 

Analysts say this trend highlights a structural shift in ownership that could support long-term growth. Institutional demand is clearly back, with “four consecutive sessions of ETF inflows and aggressive spot demand…suggesting one thing: institutional buyers have returned and they’re ready to increase their holdings around current prices, which recovered to above $70k as a result,” Bitfinex said in a note to Bitcoin Magazine.

Bitfinex wrote that “a sustained break above resistance could trigger momentum expansion, as positioning and the balance of flows suggest that the market is preparing for its next directional move after weeks of range trading.”

Bitwise Chief Investment Officer Matt Hougan also noted Bitcoin ETFs have held up despite a roughly 50% price drop since October 2025, underlining institutional commitment.

“The best evidence we have is in the ETF market,” Hougan said, according to Coindesk reporting. 

“Bitcoin ETFs accumulated roughly $60 billion in net flows from their launch in January 2024 through October 2025. Since October 2025, prices are down 50%, but we’ve seen less than $10 billion in outflows from ETFs,” he said. 

Hougan described institutional investors as exhibiting “diamond hands,” maintaining positions despite severe market drawdowns. He attributes this persistence to the non-consensus status of BTC.

Hougan said that institutional investors who buy into BTC today are still sticking their neck out and standing out from their peers. That career risk, he explained, fosters unusually high conviction, meaning investors allocating capital to bitcoin today tend to be 80–90% convinced of its long-term value rather than mildly optimistic.

This conviction underpins Hougan’s reaffirmed long-term bitcoin forecast of $1 million per coin. 

“The wildest thing about my $1 million prediction is that it’s not wild at all,” he said. “All you need for bitcoin to get to $1 million is for the global store of value market to continue to grow as it has for the past 20 years and for bitcoin to become a minor but material part of that market.”

Last week, Hougan argued that skepticism over Bitcoin reaching $1 million stems from a misunderstanding of its valuation, as many analysts use “static math” that ignores the rapidly growing global store-of-value market. 

Framing BTC as an emerging competitor to gold, he estimates that with a $38 trillion market and BTC’s fixed supply of 21 million coins, the $1 million price target is plausible.

Bitcoin isn’t very speculative anymore

Supporting this thesis, Bernstein analysts also noted that bitcoin’s ownership base has matured, reducing reliance on retail speculation.

In a March 16 research note seen by Bitcoin Magazine, they highlighted the growing influence of spot BTC ETFs and corporate treasury buyers such as Strategy. 

The firm described Strategy as a “bitcoin central bank of last resort,” citing its aggressive accumulation model, which has added more than 66,000 BTC so far in 2026 at an average cost near $85,000. Strategy’s total holdings now exceed 761,000 BTC, valued around $56 billion.

Bernstein emphasized that institutional inflows are reshaping BTC’s ownership structure. Spot ETFs absorbed about $2.1 billion in inflows over three weeks, nearly offsetting year-to-date outflows of $460 million. 

Institutional vehicles now control roughly 6.1% of BTC’s total supply, while coins inactive for over a year represent approximately 60% of circulating supply, signaling a growing base of long-term holders.

On top of this, on-chain indicators point to a late-stage bear cycle, as Lacie Zhang of Bitget Wallet explained to Bitcoin Magazine: “The convergence of on-chain indicators such as realized price and MVRV suggests Bitcoin may be entering the late stage of a typical bear cycle, a phase historically associated with long-term accumulation rather than continued capitulation.” 

Despite short-term macro headwinds, the current conditions signal a strategic accumulation phase, with BTC likely fluctuating between $68,000 and $84,000 as longer-term investors position for the next cycle.

This post Bitcoin’s Ownership Base is Maturing, Reducing Reliance on Retail: Analysts first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Price Roars Above $74,000 as Market Sentiment Improves

The price of Bitcoin pushed above $74,000 early Monday, as easing geopolitical tensions and improving risk sentiment helped lift the broader crypto market.

The move capped one of bitcoin’s strongest weekly performances since the outbreak of the Iran–Israel War in late February.

The rally coincided with signs of de-escalation in the Middle East. Two commercial tankers transited the Strait of Hormuz on Sunday for the first time since the conflict began, after Iran indicated its shipping restrictions would apply only to vessels linked to its adversaries.

At the same time, Donald Trump said the United States was in talks with Tehran, helping calm energy markets. Oil prices retreated from recent highs, the U.S. dollar weakened and equity futures turned positive, signaling a broader shift toward risk assets.

The move higher also triggered a wave of short liquidations in crypto derivatives markets. Roughly $344 million in positions were wiped out over the past 24 hours, with bearish traders accounting for more than 80% of the total, according to Bitcoin Magazine Pro data.

Market participants are now watching whether the bitcoin price can hold momentum above the $74,000 region.

A sustained break could open the door to a move toward $80,000, a level that previously served as support late last year before prices slid during the early-2026 correction.

JUST IN: Bitcoin rises back over $74,000! pic.twitter.com/ul7WVyEWNG

— Bitcoin Magazine (@BitcoinMagazine) March 16, 2026

What’s coming next for the bitcoin price? 

For now, traders are also bracing for macro signals from the upcoming policy meeting at the Federal Reserve, which begins Tuesday and could influence risk appetite across global markets.

Later on Wednesday, the market will hear the Fed’s interest-rate decision and Chair Jerome Powell’s press conference, with rates expected to remain steady. 

Despite being down from its October peak, Bitcoin price has outperformed some traditional assets during the conflict, though volatility could increase depending on short-term selling and Fed signals.

Earlier today, Strategy, led by Michael Saylor, bought 22,337 more bitcoin for $1.57 billion, raising its total holdings to 761,068 BTC. The average acquisition bitcoin price cost is $75,696 per coin, giving the holdings a current market value of about $50 billion.

Tokyo-listed investment firm Metaplanet said they also secured approximately $255 million from global institutional investors as it accelerates a corporate strategy centered on accumulating Bitcoin. The company has additional warrants that could lift total funding to roughly $531 million for bitcoin purchases.

At the time of writing, the bitcoin price is near $73,800.

This post Bitcoin Price Roars Above $74,000 as Market Sentiment Improves first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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South African Eskom Considering Discount Power for Bitcoin Miners as Solar Creates Surplus

Eskom, a South African electricity public utility,  is exploring plans to sell excess daytime electricity to Bitcoin mining companies as rooftop solar installations reduce grid demand during daylight hours.

Speaking at the Biznews Conference 2026 in Hermanus, Eskom chairman Mteto Nyati said the utility is evaluating ways to monetize surplus power generated during the middle of the day, according to local reporting.

South Africa’s rapid adoption of rooftop solar systems has begun to reshape the country’s electricity demand profile. Many households and businesses now generate their own power during daylight hours, leaving Eskom with unused capacity once solar panels begin producing electricity.

Nyati said the pattern is increasingly predictable.

Demand spikes in the early morning as households prepare for work and businesses open. As solar generation ramps up later in the day, grid demand falls, leaving Eskom with surplus electricity.

Eskom is looking at creative ways and means of using that capacity. One option under review is offering discounted electricity to Bitcoin mining companies operating in South Africa. The sector runs large data centers that perform energy-intensive computations to secure the Bitcoin network.

Nyati said industries such as Bitcoin mining are contributing to rising global electricity demand. He said that the technology did not exist two decades ago but now represents a growing source of power consumption.

Selling excess electricity to miners could allow Eskom to generate revenue from power that might otherwise go unused during solar-heavy hours.

South African Bitcoin mining opportunities

The idea also builds on earlier comments from Eskom chief executive Dan Marokane, who said the state-owned utility is examining opportunities tied to Bitcoin mining, artificial intelligence infrastructure, and large-scale data centers.

Those sectors require large, continuous electricity supplies and could provide new demand for Eskom’s generation fleet.

Nyati framed the initiative as part of a broader strategy to adapt to structural changes in South Africa’s electricity market.

The country’s power sector is opening to private investment, allowing independent companies to build generation capacity and compete in electricity distribution. At the same time, rising rooftop solar adoption is shifting demand away from the national grid.

Nyati said Eskom must adapt to remain viable in a more competitive environment.

Alongside new revenue strategies, Eskom is pursuing cost reductions. Nyati said the utility plans to eliminate about R112 billion in expenses over the next five years.

Reducing those costs could help lower electricity prices for households and energy-intensive industries such as mining and smelting.

Despite the changes in the energy landscape, Nyati said South Africa still needs a strong national utility.

He argued that Eskom’s coal and nuclear power stations provide the base-load electricity required to support industrial growth and economic development.

The proposal to supply discounted electricity to Bitcoin miners reflects how utilities are beginning to treat flexible energy consumers as tools for balancing supply and demand in an evolving power system.

This post South African Eskom Considering Discount Power for Bitcoin Miners as Solar Creates Surplus first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Strategy (MSTR) Bought Over 4,000 Bitcoin Today via STRC As Strong Week Continues

Strategy appears to have purchased more than 4,000 bitcoin on Thursday, according to estimates derived from real-time trading data and community tracking dashboards monitoring the firm’s preferred equity sales.

Data from STRC.live and market trackers suggests the purchases were funded through heavy issuance of the company’s Variable Rate Series A Preferred Stock (STRC), a perpetual preferred instrument that Strategy has increasingly used to raise capital for bitcoin accumulation.

By end of day in New York, trading activity implied the firm had already raised enough capital to acquire more than 4,000 BTC, marking the largest single-day bitcoin purchase funded through STRC since the instrument launched.

The surge follows unusually strong activity earlier in the week. On March 10, STRC recorded a record $409 million in daily trading volume while maintaining roughly 3% 30-day volatility and a one-month volume-weighted average price near $99.78.

On-chain indicators and community monitoring suggested that day’s activity funded the purchase of more than 2,000 BTC, already one of the largest one-day accumulations tied to the instrument.

Thursday’s pace easily surpassed that figure.

Strategy, already the largest public corporate holder of bitcoin, has increasingly leaned on its preferred equity program to finance additional acquisitions.

Earlier this year the company amended its at-the-market (ATM) program, allowing multiple agents to sell STRC shares simultaneously. The change increased liquidity in the instrument and made it easier for Strategy to raise large amounts of capital quickly, with proceeds directed toward bitcoin purchases.

Real-time dashboards tracking STRC trading attempt to estimate how many shares Strategy itself is issuing versus secondary market trades. 

Because the company previously indicated it may sell shares when the price trades above its $100 stated amount, analysts can approximate capital raised when trading occurs above that threshold.

A recent SEC filing disclosed that the company purchased 17,994 BTC between March 2 and March 8 for approximately $1.28 billion. That acquisition lifted the firm’s total holdings to about 738,731 BTC, representing roughly 3.5% of bitcoin’s circulating supply.

The filing showed the purchase was funded through a combination of $377.1 million in STRC sales and $899.5 million raised through common stock issuance.

Based on those figures, STRC accounted for about 29.5% of the funding for that five-day accumulation period, equivalent to roughly 5,300 BTC acquired through preferred share sales.

If Thursday’s estimates prove accurate, the day’s purchases alone could exceed the average daily bitcoin acquisition pace seen during that earlier buying window.

The data remains unofficial. Strategy typically confirms purchases later through SEC filings or public disclosures.

BREAKING: Michael Saylor’s Strategy is now estimated to have accumulated 4,038 BTC today via STRC

Nearly double it’s previous daily record!

pic.twitter.com/aFzTtwIE2R

— Bitcoin Magazine (@BitcoinMagazine) March 12, 2026

How does Strategy’s STRC work?

STRC acts as a bridge between traditional income investors and Strategy’s Bitcoin-focused balance sheet. Income investors typically seek steady payouts, while Strategy’s large Bitcoin holdings bring long-term upside along with short-term price swings. The preferred stock helps connect these two profiles.

The security is structured to keep demand near its $100 par value while paying a monthly dividend that yields about 11.5% annually. In effect, it converts the economics of a Bitcoin treasury into a format that appeals to fixed-income investors who prioritize regular income.

Strong liquidity and relatively low volatility suggest that the investor base is shifting toward income-focused capital. That shift can help stabilize trading activity compared with instruments driven mainly by speculation.

These early results point to product-market fit. Rather than relying on marketing or hype, the structure appears to meet a clear demand among investors seeking yield tied to Bitcoin exposure.

For corporate leaders considering Bitcoin treasury strategies, STRC offers a way to integrate Bitcoin into broader capital structures. It allows companies to draw funding from multiple investor groups while building a shared strategic reserve around the asset.

At the time of writing, Bitcoin trades near $70,000, while shares of MicroStrategy (MSTR) are down about 0.75% on the day.

This post Strategy (MSTR) Bought Over 4,000 Bitcoin Today via STRC As Strong Week Continues first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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3rd Bitcoin Golf Championship Lands at Bali Hai Golf Club Before Bitcoin 2026 Vegas Conference

Bitcoin Sports Network (BSN) will host the 3rd Annual Bitcoin Golf Championship on April 26, 2026, at Bali Hai Golf Club in Las Vegas, Nevada. The event is scheduled alongside the Bitcoin Vegas Conference at the Venetian, which starts on the 27th of April.

Whale Pass holders for the Bitcoin Vegas 2026 conference get a 10% off the 3rd Annual Bitcoin Golf Championship as well! With code WHALE26 at checkout.

We’re excited to announce that Whale Pass holders get 10% off the 3rd Annual Bitcoin Golf Championship in Las Vegas on April 26, 2026 @TheBitcoinConf
Use code WHALE26 at checkout: https://t.co/caxw46tP1P pic.twitter.com/4Y9JywCkGO

— BitcoinSports.Network (@BSN_Events) March 10, 2026

The announcement follows the 2nd Max & Stacy Invitational, which BSN organized in January at El Encanto Country Club in La Libertad, El Salvador, in partnership with Max Keiser and Stacy Herbert and sponsored by Ikigii (Towerbank).

The El Salvador event included a poker tournament sponsored by Casino Colonial and a poolside 19th Hole Challenge. Attendees included Mike Peterson, Dr. Jack Kruse, Texas Slim, Archie from The Bitcoin Archives, and Bitcoin educator Jimmy Song.

“Nothing is impossible for Chris and Frieda. It is almost magical how they nail it every single time,” said Max Keiser.

Keiser also said: “I love this event. It’s like an amusement park for Bitcoiners. Everybody is focused on having maximalist fun. Chris and Frieda are the wizards behind the scenes making it all come together.”

Patrick Lowry, CEO of Samara Asset Group, said: “BSN once again proves to be the best at bringing Bitcoiners from around the world together. My wife and I enjoyed golf, poker, and meeting Bitcoiners from around the world—we’ve already begun planning next year’s trip.”

The Las Vegas event will use a 2-person scramble format. It will include Bitcoin-themed hole activations, exclusive prizes, and the Bitcoin Kickoff Party at the clubhouse. Organizers expect more than 300 attendees, including founders, builders, investors, and creators. Bali Hai Golf Club is located minutes from the main conference venue.

Following the Las Vegas event, BSN plans to host an event in Canada and launch the World Bitcoin Poker Tour.

Tickets and sponsorships for the Las Vegas event are available at bitcoingolfchampionship.com. Details for the Canada event are at https://thebtcopen.com/.

Attendees can play golf and poker with Bitcoin OGs and then head to the world class Bitcoin Vegas conference the next two days at the Venetian. 

This post 3rd Bitcoin Golf Championship Lands at Bali Hai Golf Club Before Bitcoin 2026 Vegas Conference first appeared on Bitcoin Magazine and is written by Juan Galt.

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The Core Issue: Outrunning Entropy, Why Bitcoin Can’t Stand Still

Intro

Bitcoin’s “don’t trust, verify” culture requires that the ledger can be rebuilt by anyone from scratch. After processing all historical transactions every user should arrive at the exact same local state of everyone’s funds as the rest of the network.

This reproducibility is at the heart of Bitcoin’s trust-minimized design, but it comes at a significant cost: after almost 17 years, this ever-growing database forces newcomers to do more work than ever before they can join the Bitcoin network.

When bootstrapping a new node it has to download, verify, and persist every block from genesis to the current chain tip – a resource-intensive synchronization process called Initial Block Download (IBD).

While consumer hardware continues to improve, keeping IBD requirements low remains critical for maintaining decentralization by keeping validation accessible to everyone – from lower-powered devices like Raspberry Pis to high-powered servers.

Benchmarking process

Performance optimization begins with understanding how software components, data patterns, hardware, and network conditions interact to create bottlenecks in performance. This requires extensive experimentation, most of which gets discarded. Beyond the usual balancing act between speed, memory usage, and maintainability, Bitcoin Core developers must choose the lowest-risk/highest-return changes. Valid-but-minor optimizations are often rejected as too risky relative to their benefit.

We have a significant suite of micro-benchmarks to ensure existing functionality doesn’t degrade in performance. These are useful for catching regressions, i.e. performance backslides in individual pieces of code, but aren’t necessarily representative of overall IBD performance.

Contributors proposing optimizations provide reproducers and measurements across different environments: operating systems, compilers, storage types (SSD vs HDD), network speeds, dbcache sizes, node configurations (pruned vs archival), and index combinations. We write single-use benchmarks and use compiler explorers for validating which setup would perform better in that specific scenario (e.g. intra-block duplicate transaction checking with Hash Set vs Sorted Set vs Sorted vector).

We’re also regularly benchmarking the IBD process. This can be done by reindexing the chainstate and optionally the block index from local block files, or doing a full IBD either from local peers (to avoid slow peers affecting timings) or from the wider p2p network itself.

IBD benchmarks often show smaller improvements than micro-benchmarks since network bandwidth or other I/O is often the bottleneck; downloading the blockchain alone takes ~16 hours with average global internet speeds.

For maximum reproducibility -reindex-chainstate is often favored, creating memory and CPU profiles before and after the optimization and validating how the change affects other functionality.

Historical and ongoing improvements

Early Bitcoin Core versions were designed for a much smaller blockchain. The original Satoshi prototype laid the foundations, but without constant innovation from Bitcoin Core developers it would not have been able to handle the network’s unprecedented growth.

Originally the block index stored every historic transaction and whether they were spent, but in 2012, “Ultraprune” (PR #1677) created a dedicated database for tracking unspent transaction outputs, forming the UTXO set, which pre-caches the latest state of all spendable coins, providing a unified view for validation. Combined with a database migration from Berkeley DB to LevelDB validation speeds were significantly improved.

However, this database migration caused the BIP50[1] chain fork when a block with many transaction inputs was accepted by upgraded nodes but rejected by older versions as being too complicated. This highlights how Bitcoin Core development differs from typical software engineering: even pure performance optimizations have the potential to result in unintended chain splits.

The following year (PR #2060) enabled multithreaded signature validation. Around the same time, the specialized cryptographic library libsecp256k1 was created, and was integrated into Bitcoin Core in 2014. Over the following decade, through continuous optimizations, it became more than 8x faster than the same functionality in the general-purpose OpenSSL library.

Headers-first sync (PR #4468, 2014) restructured the IBD process to first download the block header chain with the most accumulated work, then fetch blocks from multiple peers simultaneously. Besides accelerating IBD it also eliminated wasted bandwidth on blocks that would be orphaned as they were not in the main chain.

In 2016 PR #9049 removed what appeared to be a redundant duplicate-input check, introducing a consensus bug that could have allowed supply inflation. Fortunately, it was discovered and patched before exploitation. This incident drove major testing resource investments. Today, with differential fuzzing, broad coverage, and stricter review discipline, Bitcoin Core surfaces and resolves issues far more quickly, with no comparable consensus hazards reported since.[2].

In 2017 -assumevalid (PR #9484) separated general block validity checks from the expensive signature verification, making the latter optional for most of IBD, cutting its time roughly in half. Block structure, proof-of-work, and spending rules remain fully verified: -assumevalid skips signature checks entirely for all blocks up to a certain block height.

In 2022 PR #25325 replaced Bitcoin Core’s ordinary memory allocator with a custom pool-based allocator optimized for the coins cache. By designing specifically for Bitcoin’s allocation patterns, it reduced memory waste and improved cache efficiency, delivering ~21% faster IBD while fitting more coins in the same memory footprint.

While code itself doesn’t rot, the system it operates within constantly evolves. Every 10 minutes Bitcoin’s state changes – usage patterns shift, bottlenecks migrate. Maintenance and optimization aren’t optional; without constant adaptation, Bitcoin would accumulate vulnerabilities faster than a static codebase could defend against, and IBD performance would steadily regress despite advances in hardware.

The increasing size of the UTXO set and growth in average block weight exemplify this evolution. Tasks that were once CPU-bound (like signature verification) are now often Input/Output (IO)-bound due to heavier chainstate access (having to check the UTXO set on disk). This shift has driven new priorities: improving memory caching, reducing LevelDB flush frequency, and parallelizing disk reads to keep modern multi-core CPUs busy.

Recent optimizations

The software designs are based on predicted usage patterns, which inevitably diverge from reality as the network evolves. Bitcoin’s deterministic workload allows us to measure actual behavior and course correct later, ensuring performance keeps pace with the network’s growth.

We’re constantly adjusting defaults to better fit real-world usage patterns. A few examples:

• PR #30039 increased LevelDB’s max file size – a single parameter change that delivered ~30% IBD speedup by better matching how the chainstate database (UTXO set) is actually accessed.
• PR #31645 doubled the flush batch size, reducing fragmented disk writes during IBD’s most write-intensive phase and speeding up progress saves when IBD is interrupted.
• PR #32279 adjusted the internal prevector storage size (used mainly for in-memory script storage). The old pre-segwit threshold prioritized older script templates at the expense of newer ones. By adjusting the capacity to cover modern script sizes, heap allocations are avoided, memory fragmentation is reduced, and script execution benefits from better cache locality.

All small, surgical changes with measurable validation impacts.

Beyond parameter tuning, some changes required rethinking existing designs:

• PR #28280 improved how pruned nodes (which discard old blocks to save disk space) handle frequent memory cache flushes. The original design either dumped the entire cache or scanned it to find modified entries. Selectively tracking modified entries enabled over 30% speedup for pruned nodes with maximum dbcache and ~9% improvement with default settings.
• PR #31551 introduced read/write batching for block files, reducing the overhead of many small filesystem operations. The 4x-8x speedup in block file access improved not just IBD but other RPCs as well.
• PR #31144 optimized the existing optional block file obfuscation (used to make sure data isn’t stored in cleartext on disk) by processing 64-bit chunks instead of byte-by-byte operations, delivering another IBD speedup. With obfuscation being essentially free users no longer need to choose between safe storage and performance.

Other minor caching optimizations (such as PR #32487) enabled adding additional safety checks that were deemed too expensive before (PR #32638).

Similarly, we can now flush the cache more frequently to disk (PR #30611), ensuring nodes never lose more than one hour of validation work in case of crashes. The modest overhead was acceptable because earlier optimizations had already made IBD significantly faster.

PR #32043 currently serves as a tracker for IBD-related performance improvements. It groups a dozen ongoing efforts, from disk and cache tuning to concurrency enhancements, and provides a framework for measuring how each change affects real-world performance. This approach encourages contributors to present not only code but also reproducible benchmarks, profiling data, and cross-hardware comparisons.

Future optimization suggestions

PR #31132 parallelizes transaction input fetching during block validation. Currently, each input is fetched from the UTXO set sequentially – cache misses require disk round trips, creating an IO bottleneck. The PR introduces parallel fetching across multiple worker threads, achieving up to ~30% faster -reindex-chainstate (~10 hours on a Raspberry Pi 5 with 450MB dbcache). As a side effect, this narrows the performance gap between small and large -dbcache values, potentially allowing nodes with modest memory to sync nearly as fast as high-memory configurations.

Besides IBD, PR #26966 parallelizes block filter and transaction index construction using configurable worker threads.

Keeping the persisted UTXO set compact is critical for node accessibility. PR #33817 experiments with reducing it slightly by removing an optional LevelDB feature that might not be needed for Bitcoin’s specific use case.

SwiftSync[3] is an experimental approach leveraging our hindsight about historical blocks. Knowing the actual outcome, we can categorize every encountered coin by its final state at the target height: those still unspent (which we store) and those spent by that height (which we can ignore, merely verifying they appear in matching create/spend pairs anywhere). Pre-generated hints encode this classification, allowing nodes to skip UTXO operations for short-lived coins entirely.

Bitcoin Is Open To Anyone

Beyond synthetic benchmarks, a recent experiment[4] ran the SwiftSync prototype on an underclocked Raspberry Pi 5 powered by a battery pack over WiFi, completing -reindex-chainstate of 888,888 blocks in 3h 14m. Measurements with equivalent configurations show a 250% full validation speedup[5] across recent Bitcoin Core versions.

Years of accumulated work translate to genuine impact: fully validating nearly a million blocks can now be done in less than a day on cheap hardware, maintaining accessibility despite continuous blockchain growth.

Self-sovereignty is more accessible than ever.

Don’t miss your chance to own The Core Issue — featuring articles written by many Core Developers explaining the projects they work on themselves!

This piece is the Letter from the Editor featured in the latest Print edition of Bitcoin Magazine, The Core Issue. We’re sharing it here as an early look at the ideas explored throughout the full issue.

---

[1] https://github.com/bitcoin/bips/blob/master/bip-0050.mediawiki

[2] https://en.bitcoin.it/wiki/Common_Vulnerabilities_and_Exposures 

[3] https://delvingbitcoin.org/t/swiftsync-speeding-up-ibd-with-pre-generated-hints-poc/1562 

[4] https://x.com/L0RINC/status/1972062557835088347

[5] https://x.com/L0RINC/status/1970918510248575358 

All Pull Requests (PR) listed in this article can be looked up by number here: https://github.com/bitcoin/bitcoin/pulls

This post The Core Issue: Outrunning Entropy, Why Bitcoin Can’t Stand Still first appeared on Bitcoin Magazine and is written by willcl-ark, l0rinc and hodlinator.

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Strive (ASST) Raises Dividend, Adds Bitcoin and Strategy (MSTR) Preferred Stock to Balance Sheet

Strive, Inc. said Wednesday it raised the dividend rate on its preferred equity product while adding more bitcoin and a new credit instrument to its balance sheet, moves the firm said are designed to stabilize its digital credit strategy.

The Dallas-based company increased the dividend rate on its SATA preferred stock by 25 basis points to 12.75% and declared a dividend of $1.0625 per share payable April 15 to shareholders of record on April 1. 

At the same time, Strive narrowed its targeted trading range for SATA to $99–$101 from the previous $95–$105 and updated guidance to avoid issuing new shares below $100 through at-the-market or follow-on offerings.

The firm also disclosed additional balance sheet activity, including the purchase of 179 bitcoin since its last filing. That brings Strive’s holdings to roughly 13,311 BTC.

Separately, Strive allocated $50 million to acquire 500,000 shares of Strategy Inc.’s Variable Rate Series A Perpetual Stretch Preferred Stock, trading under the ticker STRC on Nasdaq Composite.

JUST IN: Public company Strive buys 179 more BTC, now holds 13,311 bitcoin pic.twitter.com/Tw54rLG8hr

— Bitcoin Magazine (@BitcoinMagazine) March 11, 2026

Executives framed the moves as part of a broader effort to strengthen the credit profile of SATA, which the company describes as a “digital credit” product tied to bitcoin-focused capital strategies.

CEO Matthew Cole said the adjustments are intended to maintain a stable trading range for the preferred shares while supporting long-term returns for common shareholders relative to bitcoin performance.

Chief Risk Officer Jeff Walton said the addition of STRC reflects the company’s view that the instrument offers higher yield and liquidity than traditional fixed income, allowing Strive to manage short- and medium-duration capital more efficiently.

As of March 9, Strive held $143.4 million in cash and cash equivalents before the STRC purchase, alongside its bitcoin holdings. 

The company said its combined bitcoin, STRC, and cash reserves currently cover more than 19 years of SATA interest payments.

Strive and Strategy get upgraded ratings

This comes as Strategy Inc. disclosed that it spent $1.28 billion to acquire 17,994 bitcoin last week, raising its total holdings to 738,731 BTC worth about $50 billion at current prices.

Against that backdrop, investment bank B. Riley Financial initiated coverage of Strategy and Strive, Inc. with Buy ratings and price targets of $175 and $12, respectively, arguing that the recent decline in bitcoin and related equities has compressed valuations and created a potential entry point for investors.

Analysts pointed to Strategy’s scale and market dominance as the largest corporate bitcoin holder, as well as its ability to raise capital across cycles through a layered structure that includes common equity, convertible notes, and multiple series of perpetual preferred stock. 

Meanwhile, Strive was highlighted for its “dual-engine” model combining a roughly 13,132 BTC treasury with an asset management business overseeing about $2.5 billion, alongside a recent all-stock acquisition of Semler Scientific.

This post Strive (ASST) Raises Dividend, Adds Bitcoin and Strategy (MSTR) Preferred Stock to Balance Sheet first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Investment Bank Gives Strategy (MSTR) and Strive (ASST) Buy Ratings, Flags Bitcoin Treasury Discounts

Investment bank B. Riley has entered the corporate bitcoin treasury sector with formal coverage of two Nasdaq-listed companies, Strategy Inc. (NASDAQ:MSTR) and Strive, Inc. (NASDAQ:ASST), assigning Buy ratings and price targets of $175 and $12, respectively. 

Analyst Fedor Shabalin led the Strive initiation, according to Investing.com The move comes as both stocks trade well below their previous highs, with bitcoin near $70,000.

B. Riley framed the current valuation compression in both companies as an opportunity rather than a structural concern. Strategy shares currently trade at 1.2 times net asset value (NAV), down from a 3.4x peak in 2024. 

Strive trades around 0.9 times modified NAV, reflecting early-stage volatility and a discount to the company’s combined bitcoin and asset management value.

Strategy’s market dominance and Strive’s dual engine structure 

For Strategy, B. Riley highlights scale and market dominance. The company holds 738,731 BTC, the largest corporate treasury in the world, and has built a digital credit platform spanning six securities, including five series of perpetual preferred stock alongside common equity and convertible notes. 

This capital structure allows Strategy to access funding across market cycles. 

The company also added 41,002 bitcoin in January 2026 alone and raised $25.3 billion in FY2025 through equity issuance, making it the largest U.S. public issuer for the second consecutive year. Its software subscription business saw Q4 2025 revenue grow 62.1% year over year. 

Despite operational progress, MSTR shares have fallen 51.6% over the past year.

Strive operates a dual-engine model, combining a bitcoin treasury of roughly 13,132 BTC with an asset management business overseeing $2.5 billion in assets. The company went public via a reverse merger in September 2025 and completed an all-stock acquisition of Semler Scientific in January 2026, adding a medical device business. 

B. Riley highlighted Strive’s strong capital structure and minimal near-term convertible debt, offering predictable cash flows for income-focused investors. ASST shares are down 42.3% year to date and 28.6% over the past month, according to the analysts. 

B. Riley’s initiation comes amid a broader pullback in bitcoin and related equities. Bitcoin fell more than 45% from about $126,000 in October 2025 to roughly $69,000 in early March 2026, compressing NAV multiples and slowing equity-driven BTC accumulation. 

Each $1,000 move in bitcoin translates to roughly $739 million in treasury value for Strategy and $13.1 million for Strive, underlining the price sensitivity of both firms.

Yesterday, Strategy said they spent a whopping $1.28 billion to buy 17,994 more bitcoin last week, raising its total holdings to 738,731 BTC worth about $50 billion at current prices.

This post Investment Bank Gives Strategy (MSTR) and Strive (ASST) Buy Ratings, Flags Bitcoin Treasury Discounts first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Price Teeters Near $69,000 Despite Market Volatility and Oil Price Swings

Bitcoin price traded near $69,000 on Monday, stabilizing after last week’s brief rally and then sell-off into the weekend. The cryptocurrency has remained resilient even as traditional equities and oil markets experience sharp swings.

Bitcoin price remains confined to the $62,500–$72,000 range following February’s sharp decline, with repeated attempts to break above $72,000 failing, according to Bitfinex analysts. 

A high of $74,047 on March 4 marked a brief breakout for the bitcoin price, but momentum could not be sustained, and the move was quickly reversed. The March 6 spike in negative realized profits of around $900 million shows that many investors exited positions at a loss during the failed rally. 

Passive sell orders and late-entry leveraged longs absorbed buying pressure, keeping the price trapped within its established range. 

Since the February low, dip buyers have supported a 20.5% recovery, helping stabilize the market. 

Realized losses have now sharply compressed, suggesting that forced selling has largely subsided, but upside remains capped until $72,000 is decisively cleared, according to Bitfinex. 

Bitcoin price weathers macro turbulence

The surge in volatility comes alongside dramatic movements in energy markets, where West Texas Intermediate crude briefly rose above $110 per barrel before easing back. 

Supply concerns driven by geopolitical tensions in the Middle East have weighed on global equities and safe-haven assets such as gold, while pushing demand toward the U.S. dollar.

Bitcoin’s own volatility measures suggest the crypto market may have already experienced its most stressful phase. The Bitcoin Volmex Implied Volatility Index (BVIV) spiked earlier this year when bitcoin price briefly fell to $60,000, indicating heightened market stress. 

Since then, volatility has eased, suggesting that crypto markets front-ran some of the turbulence now affecting traditional assets. 

Despite macro uncertainty, bitcoin’s price has held above $66,000, recovering from minor pullbacks that followed attempts to break through resistance near $74,000. The market has seen a consolidation phase, with buyers defending levels around $66,000 to $69,000, according to Bitcoin Magazine Pro data.

The ongoing conflict in the Middle East and disruptions to shipping routes have contributed to sharp spikes in oil prices. The Strait of Hormuz closure and recent strikes on regional depots tightened supply, adding upward pressure on crude and fueling concerns about global inflation. Rising energy costs ripple through industries worldwide, potentially increasing borrowing costs and putting pressure on risk-sensitive assets, including bitcoin.

On top of this, underlying financial pressures that could influence Bitcoin’s appeal.

“While chaotic global events are getting most of the attention and are often credited for bitcoin’s price moves, there may be deeper stresses forming beneath the surface,” Timot Lamarre, director of market research at Unchained Pressure, wrote to Bitcoin Magazine. “In the private credit market, including unusually high withdrawal requests from large funds, suggests liquidity in parts of the financial system may be tightening. Markets tend to anticipate the policy response to financial stress before it happens, and if investors begin expecting another round of monetary expansion, the incentive to hold bitcoin only grows stronger.”

Global equities have reflected these pressures. Japan’s Nikkei and South Korea’s KOSPI both dropped more than 7% after market openings, while China and Hong Kong’s indices recorded smaller declines.

The strength of the U.S. dollar, coupled with elevated yields, has reinforced its role as a primary defensive asset in the current environment, leaving bitcoin price and other risk assets to navigate a more complex landscape.

Within this context, bitcoin price has maintained relative stability. Its market capitalization has remained above $1.3 trillion, and trading activity shows continued interest across spot and derivatives markets. 

Bitcoin’s mined supply also surpassed 20 million  BTC today — over 95 % of the 21 million cap — leaving just about 1 million coins left to be mined over the next century.

This post Bitcoin Price Teeters Near $69,000 Despite Market Volatility and Oil Price Swings first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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U.S. Treasury Recognizes Legitimate Uses for Crypto Mixers, Proposes “Hold Law” for Suspicious Assets

The U.S. Treasury Department told Congress that bitcoin or crypto mixers can serve legitimate financial privacy purposes, signaling a shift in the government’s approach to blockchain privacy tools. 

The 32-page report, submitted under the GENIUS Act, also proposes new legislative tools to combat illicit finance, including a “hold law” that would give financial institutions temporary safe harbor to freeze suspicious digital assets.

The report acknowledges that lawful users may employ mixers to protect sensitive information on personal wealth, business payments, or charitable donations.

This represents a recalibration from Treasury’s earlier stance, which included sanctioning Tornado Cash in 2022 and designating international mixers as money-laundering hubs in 2023.

At the same time, Treasury data shows that criminal actors, particularly those linked to North Korea, continue to exploit mixers. 

The report cites DPRK-affiliated cybercriminals who stole at least $2.8 billion in digital assets between January 2024 and September 2025, including a $1.5 billion hack of the Bybit exchange.

In these operations, mixers are commonly used to break tracing links, often in combination with stablecoin swaps and cross-chain bridges.

JUST IN: US Treasury reports to Congress that using Bitcoin and crypto privacy mixers are NOT unlawful:

“Lawful users of digital assets may leverage mixers to enable financial privacy when transacting through public blockchains.”

Big win for privacy! pic.twitter.com/l4kAMCAlhI

— Bitcoin Magazine (@BitcoinMagazine) March 9, 2026

New data on crypto laundering

The report provides original Treasury analysis of mixing activity involving stablecoins and bridges. 

Since May 2020, more than $37.4 billion in withdrawals from over 50 bridges were denominated in the two largest stablecoins by market capitalization. Of that total, approximately $1.6 billion flowed from mixing services, with over $900 million concentrated in a single bridge scrutinized for DPRK-linked activity. 

The Treasury noted in the report that direct stablecoin deposits into crypto mixers for illicit purposes are relatively low, but criminals frequently convert other digital assets through mixers before swapping into stablecoins to obscure the source.

The report distinguishes between custodial and non-custodial crypto mixers. Custodial services, which must register with FinCEN as money services businesses, can provide identity data, off-chain transaction information, and behavioral patterns. 

The Treasury does not recommend new restrictions on non-custodial mixers and refrains from finalizing FinCEN’s 2023 proposed recordkeeping rule, instead citing a 2025 Presidential Working Group report recommending careful evaluation of privacy and illicit finance risks.

‘Hold law’ to crack down on illicit activity 

Treasury also urged Congress to enact a digital asset–specific “hold law,” creating a temporary safe harbor for freezing suspicious assets during brief investigations. 

The department described such a law as particularly useful for countering illicit finance involving permitted stablecoins.

On decentralized finance, the report recommends Congress specify which actors should face anti-money laundering (AML) and countering the financing of terrorism (CFT) obligations based on their roles and associated risks. 

It also proposes expanding Section 311 of the USA PATRIOT Act to authorize the Treasury to impose conditions on certain digital asset transfers that fall outside correspondent banking relationships.

These proposals align with concerns raised by industry groups, including Galaxy Research, which in January warned that the Senate Banking Committee’s CLARITY Act could represent the largest expansion of financial surveillance authority since the Patriot Act.

The report comes at somewhat of an inflection point for crypto regulation. 

Treasury lifted Tornado Cash sanctions in March 2025 after a federal appeals court found OFAC had exceeded its authority, though a Manhattan jury later convicted co-founder Roman Storm of operating an unlicensed money transmitter. 

The Department of Justice has indicated a narrower approach to prosecuting developers, suggesting that coding privacy tools without criminal intent should not constitute a violation.

The U.S. Treasury framed the report within a broader effort to study “innovative or novel” tools for detecting illicit activity in crypto, as mandated by the 2025 GENIUS Act. 

The report draws on more than 220 public comments and consultations with financial institutions, blockchain analytics firms, crypto firms, law enforcement, and recent national risk assessments.

This post U.S. Treasury Recognizes Legitimate Uses for Crypto Mixers, Proposes “Hold Law” for Suspicious Assets first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Kazakhstan’s Central Bank to Channel $350 Million of Reserves into Crypto and Bitcoin  Investments

The National Bank of Kazakhstan plans to allocate up to $350 million from the country’s gold and foreign exchange reserves toward investments tied to digital assets, marking one of the most significant steps by a central bank to gain exposure to the crypto sector.

Governor Timur Suleimenov said the initiative will focus on companies and financial instruments connected to cryptocurrency markets rather than direct purchases of assets like Bitcoin. The investments are expected to include shares of technology firms involved in digital asset infrastructure as well as index funds whose performance tracks crypto-related markets.

The allocation represents a small portion of Kazakhstan’s overall reserves. 

As of February, the country held roughly $69.4 billion in gold and foreign exchange reserves, according to data from the central bank.

Deputy chair Aliya Moldabekova said the investment program is scheduled to begin in April and May as the bank finalizes a list of eligible companies and financial instruments.

“We are not talking about any large investment in cryptocurrencies,” Moldabekova said, noting that officials are concentrating on firms involved in digital asset infrastructure and related technologies.

Kazakhstan already plays a prominent role in the global crypto ecosystem. Following China’s sweeping ban on crypto mining in 2021, many mining operations relocated to the Central Asian country due to its energy resources and permissive regulatory environment. 

As a result, Kazakhstan emerged as one of the world’s leading centers for industrial-scale bitcoin mining.

NEW: Kazakhstan’s central bank to invest up to $350 million in Bitcoin and crypto assets — Reuters pic.twitter.com/HHN5lV3Iig

— Bitcoin Magazine (@BitcoinMagazine) March 6, 2026

Bitcoin-fiat facing services

Financial institutions in Kazakhstan are also experimenting with consumer-facing crypto services. Suleimenov said two banks have already launched crypto-fiat payment cards that allow users to transact between traditional currencies and digital assets. Two additional banks are preparing to introduce similar products.

These initiatives are currently operating in a regulatory sandbox while authorities finalize broader legislation governing digital financial assets.

The central bank is also pushing to create a licensing framework for cryptocurrency exchanges operating in the country. Under the proposal, exchanges would be required to comply with anti-money laundering rules, tax regulations and other financial oversight measures.

Officials say the broader regulatory push aims to integrate digital asset services into Kazakhstan’s financial system while maintaining oversight of the sector.

Suleimenov has framed the effort as part of a broader transformation of financial markets driven by technology. According to the governor, innovations such as tokenized assets, digital bonds and crypto-linked payment rails are creating entirely new categories of financial instruments.

“In essence, a completely new sector of the financial market is emerging,” he said.

The central bank believes digital financial assets could expand access to funding for businesses and investors. For example, real estate developers could tokenize property holdings and sell fractional ownership through digital tokens, offering an alternative to traditional bank financing.

This post Kazakhstan’s Central Bank to Channel $350 Million of Reserves into Crypto and Bitcoin  Investments first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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U.S. Federal Contractor’s Son Arrested in $46 Million Theft of Seized Government Crypto

John Daghita, an alleged U.S. government contractor accused of stealing more than $46 million in cryptocurrency from the U.S. Marshals Service (USMS), was arrested last night on the island of Saint Martin in a coordinated operation between the FBI and French authorities. 

The arrest, confirmed via tweet by FBI Director Kash Patel, involved the French Gendarmerie’s elite tactical unit and the International Cooperation Team Serious Crime Unit.

“Thanks to the International Cooperation Team Serious Crime Unit of the French Gendarmerie National in Saint Martin, and the Groupe d’intervention de la Gendarmerie nationale of Guadeloupe for the outstanding coordination,” Patel wrote. “The FBI will continue working 24/7 with our international partners to track down, apprehend, and bring to justice those who attempt to defraud American taxpayers—no matter where they try to hide.”

The case centers on allegations that Daghita, identified online by blockchain investigator ZachXBT as “Lick,” exploited insider access to siphon digital assets from government-linked wallets. 

Daghita is the son of Dean Daghita, president and CEO of Command Services & Support (CMDSS), a Virginia-based technology firm contracted by the USMS to manage and dispose of certain categories of seized cryptocurrency.

CMDSS was awarded the contract in October 2024 to handle digital assets not supported by major exchanges, including funds tied to complex criminal cases and high-profile seizures, such as the 2016 Bitfinex hack. 

Daghita had access to millions in crypto

According to ZachXBT, Daghita demonstrated the ability to move millions of dollars in real time during a dispute recorded in a private Telegram chat. Subsequent on-chain analysis linked those wallets to addresses known to hold government-seized assets.

ZachXBT reported that one wallet allegedly controlled by Daghita held 12,540 ether, valued at roughly $36 million at current prices. 

Other transaction trails suggest approximately $20 million was removed from USMS-linked wallets in October 2024, most of which was returned within a day, though roughly $700,000 routed through instant exchanges was not recovered. 

Estimates of total suspected thefts may exceed $90 million when accounting for activity observed in late 2025.

U.S. officials have not publicly detailed how Daghita allegedly accessed the crypto or the wallets, nor whether CMDSS’s internal controls were bypassed or exploited. 

The case follows heightened scrutiny of the U.S. Marshals Service’s cryptocurrency holdings, which some analysts estimate at over 198,000 BTC, worth tens of billions of dollars. 

Allegations of insider theft and improper management have intensified calls for reform in how federal agencies secure and track digital assets, especially those seized from criminal cases.

This post U.S. Federal Contractor’s Son Arrested in $46 Million Theft of Seized Government Crypto first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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NYSE Parent Company ICE Invests in Crypto Exchange OKX at $25 Billion Valuation

Intercontinental Exchange, the parent company of the New York Stock Exchange, has made a strategic investment in crypto exchange OKX, valuing the platform at $25 billion, marking one of the most significant partnerships between a global exchange operator and a crypto trading firm.

The investment, announced Thursday, forms part of a broader collaboration between Intercontinental Exchange (ICE) and OKX aimed at connecting traditional financial markets with blockchain-based infrastructure. 

Financial terms of the deal were not disclosed, though ICE will take a seat on OKX’s board as part of the arrangement.

The partnership reflects a growing effort by established market operators to adapt to a financial landscape shaped by digital assets and tokenization. ICE, which operates derivatives markets and clearing houses alongside the NYSE, plans to integrate elements of OKX’s crypto market infrastructure into its own offerings.

One component of the agreement will see ICE license spot cryptocurrency price data from OKX. The exchange operator intends to use that data to develop U.S.-regulated crypto futures products, giving institutional investors access to digital asset exposure through established regulatory frameworks.

JUST IN: New York Stock Exchange parent company ICE invests in Bitcoin exchange OKX at a $25 BILLION valuation pic.twitter.com/cSr3Z9MpbI

— Bitcoin Magazine (@BitcoinMagazine) March 5, 2026

TradFi entering crypto-native environments

At the same time, the collaboration could extend the reach of ICE’s traditional markets into crypto-native trading environments. Subject to regulatory approval, OKX plans to provide its global user base access to tokenized equities and derivatives tied to markets operated by ICE, including securities listed on the New York Stock Exchange.

Tokenization refers to the process of representing traditional financial assets on blockchain networks. Advocates argue that blockchain-based securities can improve settlement speed, expand access to global investors and lower operational costs tied to clearing and recordkeeping.

ICE Chairman and Chief Executive Officer Jeffrey C. Sprecher said the relationship aligns with the company’s long-term effort to build blockchain-based infrastructure across trading, settlement and custody functions.

“Star has created a highly successful company with enormous distribution,” Sprecher said in a statement, referring to OKX founder and CEO Star Xu. “Connecting ICE and NYSE markets to OKX’s customer base opens the door to a new stage of financial market integration.”

OKX, which says it serves more than 120 million users worldwide, has built trading and custody infrastructure across centralized exchanges and on-chain applications. The company operates in multiple jurisdictions, including the United States, Europe, Singapore, the United Arab Emirates and Australia.

For OKX, the investment comes as the firm attempts to deepen its presence in the U.S. and reposition itself as a regulated global market operator rather than an offshore crypto exchange.

The collaboration also highlights a broader trend in which traditional financial institutions form partnerships with crypto firms rather than compete with them. Many large market operators are studying tokenized securities, which could reshape how equities and derivatives are issued, traded and settled.

ICE has explored several initiatives tied to blockchain-based markets. Earlier this year the company said it was building infrastructure designed to support tokenized assets and on-chain settlement for capital markets. 

The new relationship with OKX is expected to complement those efforts.

This post NYSE Parent Company ICE Invests in Crypto Exchange OKX at $25 Billion Valuation first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Price Soars to $73,000 as ETFs Help Stabilize Markets Amid Middle East Tensions

Bitcoin soared over $73,000 this morning, reaching a one-month high as institutional demand and technical positioning supported the market amid ongoing geopolitical conflict in the Middle East. 

The bitcoin price has recovered from recent lows following six straight weekly losses and five consecutive months of declines.

Yesterday, the Bitcoin price approached $70,000 but did not surpass it. During Asian trading hours on March 4, it broke through that threshold.

Market participants said the rebound reflected traders covering bearish bets and adjusting positions rather than fresh bullish demand. Many had built heavy short positions on fears the Iran conflict would escalate. 

JUST IN: Bitcoin pumps back to $72,000! pic.twitter.com/I4YrJjhUTf

— Bitcoin Magazine (@BitcoinMagazine) March 4, 2026

When the situation did not broaden into a wider regional conflict, those shorts were forced to unwind, helping push bitcoin higher.

Bitcoin price has macro tailwinds

“If BTC holds above 71k through Friday’s NFP print and builds continuation, the range structure shifts materially,” Nicolai Søndergaard, Research Analyst at Nansen, wrote to Bitcoin Magazine. 

“A soft payrolls number would likely reinforce rate cut expectations ahead of the March 18 FOMC decision, providing a macro tailwind at the margin. However, if this level fails to hold as it has before, the 60k to 71k range remains intact, and fading the edges is the more defensible positioning until a clear direction is confirmed.”

Institutional flows have provided additional support. U.S.-listed spot bitcoin ETFs recorded roughly $1.45 billion in net inflows over the past five trading days. 

Daily ETF inflows remained elevated, with $225 million recorded on March 3 following $458 million the day before. 

On-chain and derivatives data indicate stabilization, though traders remain cautious. Glassnode reported a moderate rebound in momentum indicators, including bitcoin’s relative strength index rising to 41 from 36 the previous week. 

Spot trading volume increased to $9.6 billion from $6.6 billion, while derivatives markets continue to reflect defensive positioning. 

Perpetual futures funding rates remain negative, and open interest in major contracts has grown as traders adjust positions rather than chase fresh gains.

President Trump: Genius Act ‘under threat’

Yesterday, President Trump criticized the banking industry, claiming that the stablecoin legislation he signed last year, the GENIUS Act, is “being threatened and undermined by the banks.” 

The dispute centers on a provision barring stablecoin issuers from paying interest to holders, which banks argue creates a loophole for third-party reward programs. 

Crypto advocates insist such rewards are essential for stablecoins to compete in payments, while banks are pushing lawmakers to adjust the rules in new market structure legislation, including the Clarity Act. 

NEW: President Trump says the U.S. needs to get the crypto market structure bill done “ASAP.”

“Americans should earn more money on their money.” pic.twitter.com/lPBnP2oysi

— Bitcoin Magazine (@BitcoinMagazine) March 4, 2026

The standoff has stalled progress in the Senate, despite White House-led meetings between banking and crypto representatives.

Despite this, the bitcoin price appears to have found near-term support after months of selling pressure, bolstered by ETF inflows, defensive derivatives positioning, and a moderation of long-term holder outflows. 

At the time of writing, the bitcoin price is near $73,050.

This post Bitcoin Price Soars to $73,000 as ETFs Help Stabilize Markets Amid Middle East Tensions first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Paraguay Exploring Using Seized Miners for State-Run Bitcoin Operation

Paraguay’s state-owned electricity monopoly, Administración Nacional de Electricidad (ANDE), has signed a Memorandum of Understanding (MOU) with Morphware, setting the stage for a government-led Bitcoin mining program built around thousands of seized mining machines and unused hydroelectric power.

The agreement formalizes cooperation between ANDE and Morphware, positioning Morphware as a technical and advisory partner for regulated Bitcoin mining operations in Paraguay. 

At the center of the deal is a growing stockpile of confiscated bitcoin miners that Paraguayan authorities have seized from illegal operations across the country.

According to Morphware founder and CEO Kenso Trabing, the government is holding “roughly 30,000” Bitcoin miners that were taken from operators accused of stealing electricity or falsely registering as other types of businesses to secure lower power rates.

“They’re literally stacked to the ceiling,” Trabing told Bitcoin Magazine, describing government warehouses filled with idle machines.

Paraguay has become a destination for Bitcoin miners in recent years due to its abundance of low-cost hydroelectric power, much of it generated by the Itaipu Dam and exported to Brazil.

But the rapid inflow of miners has also led to widespread electricity abuse, with many operators tapping the grid illegally or misclassifying their activities to avoid industrial tariffs.

Those practices prompted enforcement actions that resulted in large-scale seizures. While the government successfully removed these miners from the grid, it was left with tens of thousands of machines and no clear plan to use them.

Morphware’s proposal, now reflected in the MOU, is to redeploy those seized miners at utility-controlled sites near substations. Under the arrangement, ANDE would retain ownership and oversight, while Morphware would provide training, operational guidance, and technical expertise.

“They have no experience mining Bitcoin,” Trabing said. “Our role is an advisory role.”

The company plans to help ANDE convert existing utility buildings into basic mining facilities. Many of these structures already sit next to substations and can be retrofitted by removing walls, installing ventilation, and adding transformers, distribution units, and metering equipment. The goal is to turn stranded or underused electricity into a new source of revenue for the state utility.

Electricity in Paraguay is highly political, with different tariff regimes for households, favored industries, and mature sectors. BTC mining falls into a higher-rate category, but illegal operators often attempt to bypass those costs. 

By running mining operations directly through ANDE-controlled infrastructure, the government can enforce compliance while capturing the upside itself.

“This is about regulated, utility-controlled sites,” Trabing said. “Not people hiding in the countryside.”

JUST IN: Paraguay’s National Electricity Administration signs memorandum to “explore the role of Bitcoin mining as a national level opportunity.”

They will use Bitcoin miners to transform unused electricity into “a new revenue engine for Paraguay.” pic.twitter.com/LwEWmUrJW5

— Bitcoin Magazine (@BitcoinMagazine) March 3, 2026

What will happen to Paraguay’s mined bitcoin? 

A key question under discussion is how Paraguay will handle the Bitcoin it produces. Trabing said there are active debates within government agencies. Some officials support selling Bitcoin immediately to fund public programs such as social security, education, and infrastructure. 

Others have raised the idea of holding some Bitcoin or managing price risk through financial markets.

Morphware has advised a conservative approach centered on derivatives. Trabing said the company has discussed selling BTC futures on U.S. exchanges as a way to hedge production and stabilize revenue.

The company has also warned against allowing government agencies to custody Bitcoin directly. Paraguay has suffered major cybersecurity breaches in recent years, including a ransomware incident that compromised systems across multiple ministries.

While the agreement focuses on Bitcoin mining, it also reflects a broader shift in how Paraguay views its electricity exports. The country consumes only a fraction of the power it generates and sells the rest abroad at relatively low rates. 

Mining offers a way to monetize excess energy domestically without waiting for traditional industrial demand to appear.

“When you do the math, it’s so simple,” Trabing said. “You’re selling electricity for a fraction of what it can earn if you use it locally.”

The MOU marks the first formal step in that direction. Trabing said the initial phase will focus on deploying seized miners and training ANDE staff on mining operations, grid integration, and basic Bitcoin concepts.

Over time, he believes the model could expand. If the pilot proves successful, Paraguay could finance new mining equipment using structured financial products tied to future Bitcoin production, rather than relying solely on seized hardware.

“This is what the future of midstream electricity looks like,” Trabing said. “Grids that don’t just deliver power, but own a stake in the digital infrastructure they enable.”

This post Paraguay Exploring Using Seized Miners for State-Run Bitcoin Operation first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Tether and Lugano Launch Plan ₿ Phase II, Targeting Global Leadership in Digital Infrastructure

Stablecoin-issuer Tether and the City of Lugano today announced the launch of Plan ₿ Phase II (2026–2030), marking an expansion of the city’s initiative to integrate digital assets and decentralized technologies into public and economic infrastructure. 

Building on the pilot projects of the original Plan ₿ launched in 2022, Phase II emphasizes structural development, technological resilience, and long-term digital sovereignty.

Over the past four years, Lugano has emerged as a European leader in real-world adoption of digital assets. More than 400 local merchants now accept Bitcoin, Tether’s USDT stablecoin, and the city’s own LVGA token.

Municipal services have experimented with digital bond issuance and select blockchain-based payments, integrating decentralized systems into public finance. Tether’s involvement has provided technical support, infrastructure, and strategic guidance.

A central component of the initiative is PoW.space, a physical hub created to foster blockchain and fintech innovation. The space has attracted over 100 companies, positioning Lugano as a bridge between traditional financial institutions and decentralized infrastructure. 

Complementing this, the Plan ₿ Forum has grown into an international platform attracting more than 4,000 participants from over 60 countries, facilitating discussions on financial sovereignty, digital assets, and resilient urban infrastructure.

What is Plan ₿’s Phase II? 

Phase II is structured around five strategic pillars. The first focuses on institutional infrastructure for digital assets, developing SwissLedger as an open blockchain for banks and enterprises. The second positions Lugano as a hub for digital trade and commodities, leveraging tokenization and programmable payments to modernize trade flows. 

The third pillar addresses privacy-preserving digital identity, enabling voluntary and secure verification of citizens, businesses, and autonomous agents through zero-knowledge technologies.

The fourth pillar emphasizes the development of decentralized artificial intelligence and autonomous economic agents, creating an integrated ecosystem for public services and programmable transactions. The fifth pillar seeks to establish resilient urban digital infrastructure, including distributed networks, decentralized computing, and advanced cybersecurity systems to ensure operational continuity in critical services.

Tether has committed up to CHF 5 million ($6.3 million) over the next five years, primarily in the form of expertise, infrastructure development, research, and applied training, while governance and oversight remain fully with the City of Lugano. Initiatives will follow a rigorous framework of pilot projects, compliance evaluations, and iterative scaling, ensuring public accountability and risk management.

Paolo Ardoino, Tether’s CEO, said, “Phase II focuses on infrastructure, resilience, and local capacity building. Our goal is to support Lugano in becoming a globally relevant digital infrastructure hub while preserving public governance and autonomy.”

Mayor Michele Foletti added, “By 2030, a city’s freedom will increasingly depend on its ability to govern its data and essential services. Plan ₿ Phase II invests in open, resilient civic digital infrastructure that safeguards public interest.”

This post Tether and Lugano Launch Plan ₿ Phase II, Targeting Global Leadership in Digital Infrastructure first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Price Pumps 7% in Early Trading to Over $70,000

The bitcoin price is on the move again this morning, pumping sharply from the mid‑$65,000 range to push toward $70,000, representing roughly a 6% gain in just a few hours as leveraged short positions face heavy liquidations. 

Last week, Bitcoin price briefly surged past $69,000 on February 25 before retreating over the weekend, falling back to around $65,000.

The move today comes after a volatile weekend marked by heightened geopolitical tensions in the Middle East, when joint U.S. and Israeli strikes on Iranian targets, including reports of attacks near Tehran and Iran’s leadership, and then Iran’s retaliatory actions rocked risk assets across global markets. 

Bitcoin initially sold off sharply over the weekend, dipping as low as the low $63,000s as markets digested the news. But, within a couple of hours, the price rebounded back to levels it was at before the news.

BREAKING: Bitcoin pumps to $70,000! pic.twitter.com/T19FURmKcu

— Bitcoin Magazine (@BitcoinMagazine) March 2, 2026

Bitcoin price analysis

Macro conditions continue to influence Bitcoin’s trajectory. Elevated U.S. interest rates and persistent inflation signals have kept the opportunity cost of holding non-yielding assets high, limiting aggressive upside moves. 

Meanwhile, geopolitical developments—including the conflict in Iran—have amplified short-term swings but have not fundamentally shifted Bitcoin’s broader trend. 

Investor sentiment remains cautious, with the Crypto Fear & Greed Index hovering near extreme fear, reflecting hesitancy to push prices significantly higher amid ongoing uncertainty.

Bitcoin price is also on track for a historically weak first quarter, down more than 25% in 2026, marking its worst Q1 performance since 2014, according to Bitcoin Magazine Pro data.

Historical patterns suggest that bear markets in dollar terms can extend 12 to 13 months, potentially stretching through late 2026. However, when priced in gold, the market may be closer to a bottom, with some analysts pointing to a possible rebound beginning this month. 

Large-scale investors are also increasingly treating the current environment as an accumulation zone, suggesting that long-term holders are positioning for future gains even as retail activity remains subdued.

Earlier today, Strategy ($MSTR) bought 3,015 bitcoin for roughly $204 million, raising its total holdings to 720,737 BTC, worth over $47 billion. 

The purchases, made between Feb. 23 and March 1 at an average price of $67,700 per coin, were funded through at-the-market sales of common and preferred stock. With bitcoin trading near $65,500, the company now controls more than 3.4% of the total 21 million bitcoin supply, maintaining its status as the largest publicly traded corporate holder.

At the time of writing, the bitcoin price is $69,882.

This post Bitcoin Price Pumps 7% in Early Trading to Over $70,000 first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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DCTRL Vancouver: Iconic Bitcoin Hackerspace Closes Downtown Location After 12 Years Due to Zoning Changes

DCTRL, a Bitcoin hub and hacker space out of Vancouver, the fair-weather Canadian city, has announced the sunset of its downtown basement location, iconic among early adopters for its tinkerer mindset and hardware hacker culture. The community will be migrating to a new location in the coming weeks, and updates to the vision of the hub. The Vancouver Bitcoin community is renowned for having set up the first Bitcoin ATM in History, with DCTRL specifically having hosted a variety of renowned characters that, over the years, gave this industry much of its cultural and innovative flair. 

Visited by some of the most influential people in the Bitcoin and broader Crypto industry in its 12 year run, DCTRL is far from done being a hub of the Canadian Bitcoin and Crypto scene. Preparing to move due to a change in zoning laws, plans to relaunch in a new location are in the works, as active members consolidate the historical moments, relationships, and lessons learnt during perhaps the longest-running Bitcoin hackspace experiment in the young industry’s history.

It all started at Waves cafe on Howe Street, in Vancouver. The Bitcoiniacs, a group of four OGs that operated a Bitcoin brokerage at the time — still active to this day — decided it was time to get the robots involved. So they rigged up an ATM to sell bitcoin to the public, rallied the local Vancouver tech, finance, and burgeoning crypto scene, and hosted a historical launch party. 

“The first Bitcoin ATM in the world was a massive event,” said Freddie Heartline, a Bitcoin enthusiast and co-founding member of the DCTRL hacker space. In an exclusive interview with Bitcoin Magazine, Heartline went on to recall the event, saying, “Oh man, the vibes were incredible. It literally felt like a really good rave. But it was smarter. Way smarter. That’s how it all came about, actually.” referring to the founding of DCTRL.  

The timing for the Bitcoin ATM event was perfect; it was October 2013, and Bitcoin had just gone from a few dollars to almost 150, consolidated for a few weeks around 100, and was getting ready to take a shot at 1,000 a coin. The energy across the Bitcoin community as electric, this was the end of the longest bear market in Bitcoin history, in a way this rise in price was proof that Bitcoin was here to stay.

The launch of the first Bitcoin ATM, as a result, made national and international news. The idea of a Bitcoin ATM being operational was considered a historical milestone in the adoption of Bitcoin as money. 

Tens of thousands of Canadian dollars worth of bitcoin were sold that day and over the coming weeks, likely creating a few millionaires over the years, spawning copycat ATM projects and even a handful of Bitcoin ATM manufacturing companies to boot. It also inspired the creation of the DCTRL hacker space, called “Decentral Vancouver” at the time. 

Cameron Gray, another Bitcoin enthusiast who was volunteering with the Bitcoiniacs event and a friend of Heartline, was the one who had the idea. “Cam was absolutely an essential part of founding Decentral.” Heartline recalled “He literally turned to me one day – as he was operating the bitcoin ATM at Waves – after I complained about the lighting at the coffee shop – and said ‘we should open a space.’ And that was it.”

Soon, they had secured a basement location in downtown Vancouver, grimy, humid, but cozy. Over the years, this spot became a hub for Bitcoin engineers, founders, crypto enthusiasts, and eventually legends. The decor got better, the leaks patched, and the walls decorated with Bitcoin art. The empty spaces filled up with hardware of all kinds, modified to operate or somehow interact with the orange coin. 

Heartline and Gray were starting a lifestyle project of sorts, and while Bitcoin may have been doing well at over $1,000, it would soon correct back to $300, another bear market, which had important consequences for the industry. During that time, the bills for DCTRL’s rent had to be paid somehow, and so Heartline moved in. Not into the basement, but onto the rooftop. In order to keep the lights on during that bear market, he literally set up a tent. Not a bad setup either if you have a look.

DCTRL started hosting meetups, the Vancouver Startup Weekend community got wind of it, and a gentleman known as Gregg Peacock began to visit the hub. Soon enough, the Startup Weekend events were taking place at DCTRL as well, pulling in the local tech startup scene. Before long, even Vitalik Buterin, founder of Ethereum and former writer for Bitcoin Magazine, showed up. 

Peacock had another important contribution to DCTRL; he made a donation that created a symbol for the local community. He donated $500 to the space with one condition: “It has to be used for something creative …” Heartline recalled, “so I found a Pepsi machine on Craigslist. Peacock even helped us move the thing in a pickup. Him, me, Cam, and Mike Olthoff moved that fucking insanely heavy and awkward thing down the stairs – lol almost killing Cam.” The Pepsi machine would soon get backwards engineered, hacked, and rebranded to the Bepsi, for obvious Bitcoin reasons.

In the above video, you can see Peacock making an on-chain transaction to the pop machine, milliseconds later dropping a soda for him on Q. The satisfying sound of Bitcoin being used as money for the small pleasures of life became a staple of DCTRL. A digital version of the Bepsi was eventually made, which fans from all over the world used to make donations. Many iterations of the underlying software took place over time, rig-wired into the Cold War era pop machine with a Raspberry Pi and some hacker ingenuity. A decade later, even the Mayor of Vancouver Ken Sim, dropped by to pay homage to this staple of Vancouver hacker culture, this time buying a soda from Bepsi with a lightning payment. 

Vancouver Mayor @KenSimCity using the Bepsi machine with @lightning at DCTRL pic.twitter.com/bTE2VNiiFK

— DCTRL (@dctrlvan) November 7, 2025

Today, the Bepsi supports practically every Bitcoin protocol, a testing ground for the cutting edge of Bitcoin technology, including protocols like Taproot Assets, Spark, and Arcade OS. “We even issued our own Bepsi token. One Bepsi equals one soda from the Bepsi machine… it’s like a stable coin… pegged to the price of the pop can.” said Heartline. The Bepsi, which in a way was inspired by the Bitcoin ATM, also inspired copycats, such as the 21up vending machine hosted in a nearby Blockchain lab known as MintGreen. To this day, funds collected by the Bepsi machine have gone to support the operation of the hacker space and cover costs, serving as a cornerstone of the community. Control over the Bepsi’s underlying wallets and tech stack in a way setting rank among the most active members and hosts. 

Visited by Legends

Throughout the years, big names within the industry visited or engaged with DCTRL in one way or another. Vitalik Buterin personally visited the space and hung out there in the very early days of Ethereum, as demonstrated by this photograph hung on their wall, featuring Gray, Heartline, Vitalik, and another active member referred to as Kyle. 

The founders of CaVirtex, the first Canadian Bitcoin exchange, were also photographed there. This brand is little known now as they were bought out by Kraken years later, but they had a deep influence on the Canadian Bitcoin scene, selling the coin to Canadians since before the first bull run, which peaked at $30 per coin. Without this exchange, many of the big Canadian Bitcoiners may not have gotten in. 

Virtually, Bitcoin celebrities also attended DCTRL events throughout the years, answering questions from the local crowd, such as Roger Ver, before the fork wars, Andreas Antonopoulos, and Willy Woo. Erik Vorhees, who came to fame in Bitcoin for creating the first major instant swap, crypto-to-crypto exchange called ShapeShift, is seen in this video doing a fireside chat at DCTRL during a local meetup. 

Even one famous scammer attended the hub, a man who was a regular in the Canadian Bitcoin scene in the 2014 era, and who to this day remains one of the unsolved mysteries of crypto-related crime, Gerald Cotten of QuadrigaCX. Cotten, whom I personally met multiple times in Toronto at the time, was a charming and smooth-talking entrepreneur in the scene at the time, before his turbulent professional history was revealed and the exchange went down in bankruptcy, leaving millions of dollars of user funds unpaid. Cotten allegedly died suddenly and mysteriously in India just before the exchange went bankrupt, taking the crypto keys with him, but many who were personally affected by this centralized exchange collapse are skeptical of that story. 

Further evidence of DCTRL as a microcosm of the industry as a whole was seen years later during the fork wars, as Gray, the other primary co-founder of the hub, took the ‘big block’ side of the debate, resulting in intense debates and ultimately a falling out with the local community and broader Bitcoin scene. Gray, nevertheless, is highly respected and appreciated by the active members of DCTRL for his contributions to the DCTRL social scene, which would inevitably suffer from the same forks and tensions that the Bitcoin protocol went through at the time. 

During those difficult times, DCTRL served as a forum and debate space for these topics, even hosting Peter Rizun of the alternative implementation Bitcoin Unlimited — a big blocker — who debated Taylor, seen on the right in the photo below. 

Overall, DCTRL enjoyed more than 12 years of continuous operation, boasts hundreds of events hosted, over 1500 registered community members, and 69 recorded talks published on YouTube, which touched many elements of the Bitcoin and crypto industry. Throughout this whole time, the hub was operated entirely by volunteers and sustained through public donations and, of course, the Bepsi. 

As the location of DCTRL gets rezoned by the city government, and a new building will be going up in its place, the active members and hosts of DCTRL, have begun organizing a transition to a new location, alongside an update to the brand.

According to DJ, one of the active members who prefers to stay pseudonymous, the hub has had record attendance in recent months. And while the location will change, its future is brighter than ever. Those who would like to be a part of the future of DCTRL can learn more at www.DCTRL.wtf. 

This post DCTRL Vancouver: Iconic Bitcoin Hackerspace Closes Downtown Location After 12 Years Due to Zoning Changes first appeared on Bitcoin Magazine and is written by Juan Galt.

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Sora Ventures-Backed Bitplanet Reaches 300 Bitcoin, Ranks Among Asia’s Top 20 Corporate Holders

Bitplanet Inc. has accumulated 300 BTC through a structured purchase program, positioning the South Korea-listed company among the top 20 corporate Bitcoin holders in Asia.

The company, backed by Sora Ventures, began building its BTC treasury in the fourth quarter of 2025. Its most recent purchases were carried out in phases between Feb. 23 and Feb. 26 via Upbit, one of South Korea’s largest cryptocurrency exchanges. 

The BTC will be held with a professional custody provider, the company told Bitcoin Magazine.

Chief Executive Paul Lee said Bitplanet is focused on more than balance sheet exposure. “We are not simply accumulating Bitcoin,” Lee said in a statement. He added that the company plans to explore operational strategies that could contribute to revenue generation and cash flow over time, linking BTC treasury management with artificial intelligence computing initiatives.

Bitplanet said it views Asia as a key driver of the next phase of digital asset treasury adoption and aims to position itself as a transparent, institutional-grade corporate holder of Bitcoin. 

The company said it may expand its holdings further, subject to market conditions, regulatory developments, and financing availability.

Corporate bitcoin strain

The firm counts several digital asset treasury investors among its backers, including Simon Gerovich of Metaplanet, as well as AsiaStrategy, UTXO Management, KCGI, Kingsway Capital, and ParaFi Capital.

Metaplanet did post a net loss of 95 billion yen ($619 million) for fiscal 2025, driven by a 102.2 billion yen ($665.8 million) valuation decline on its bitcoin holdings. 

The disclosure marks the latest example of a corporate bitcoin buyer facing pressure as the cryptocurrency’s price slid from record highs in October.

The company closed the year with 35,102 BTC, valued at approximately $2.4 billion, making Metaplanet the fourth-largest public corporate BTC holder globally, behind Strategy.

Since it began accumulating BTC 21 months ago, Metaplanet has spent nearly $3.8 billion, averaging $107,000 per coin, according to data from two weeks ago.

Last quarter, when Sora Ventures unveiled its plans at Taipei Blockchain Week, the firm said it plans to purchase $1 billion in BTC within six months, backed by a $200 million initial commitment from regional partners. 

Today, Bitcoin (BTC) is trading near $65,000, drifting lower from mid‑week highs near $70,000 amid persistent selling pressure across crypto markets.

This post Sora Ventures-Backed Bitplanet Reaches 300 Bitcoin, Ranks Among Asia’s Top 20 Corporate Holders first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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