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MARA Reports $214M in Q1 Revenue, Grows Bitcoin Holdings to 47,531 BTC

MARA Holdings, Inc. (NASDAQ: MARA) has reported first quarter 2025 earnings, announcing $213.9 million in revenue—a 30% increase from Q1 2024—as the company continues its transformation into a digital energy and infrastructure powerhouse.

“Revenues increased 30% to $213.9 million in Q1 2025 from $165.2 million in Q1 2024,” the company shared in its shareholder letter. MARA’s bitcoin holdings surged by 174% year-over-year, rising from 17,320 BTC to 47,531 BTC, now valued around $3.9 billion as of March 31, 2025.

Despite the revenue boost, MARA posted a net loss of $533.4 million, primarily due to a $510.2 million loss in the fair value of bitcoin as it ended the quarter at $82,534. “Although we recognized a loss in Q1… the current bitcoin price of approximately $100,000 would imply a substantial fair value gain,” the company noted.

MARA mined 2,286 BTC and purchased 340 more in Q1. Its energized hashrate nearly doubled from 27.8 EH/s in Q1 2024 to 54.3 EH/s, while cost per petahash per day improved 25% to $28.5.

The company is pushing forward on its two strategic priorities: “(1) strategically growing by shifting our model toward low-cost energy with more efficient capital deployment, and (2) bringing to market a full suite of solutions for data centers and edge inference—including energy management, load balancing, and advanced cooling.” 

MARA’s Q1 2025 Shareholder Letter is here. Read the full report: https://t.co/HnwoPcA36r pic.twitter.com/x0HdL5EVUh

— MARA (@MARAHoldings) May 8, 2025

Highlights from the quarter include:

• Acquisition of a 114 MW wind farm in Texas with low fixed energy costs (~$10/MWh).
• Deployment of gas-to-power operations in North Dakota and Texas, reducing emissions by the equivalent of 14,200 gasoline-powered vehicles.
• Expansion of its Ohio data center, adding 50 MW and 12,000 new miners.
• Continued development of proprietary immersion cooling systems (2PIC) and next-gen ASICs through its stake in chipmaker Auradine.

MARA will host a webcast and earnings call at 5:00 p.m. ET on May 8, 2025. Shareholders can register via this link. 

This post MARA Reports $214M in Q1 Revenue, Grows Bitcoin Holdings to 47,531 BTC first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

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OCC Gives Banks the Green Light to Offer Bitcoin and Crypto Custody and Trading Services

The Office of the Comptroller of the Currency (OCC) has issued new guidance confirming that national banks and federal savings associations can engage in crypto-asset custody and trading services. This clarification comes in Interpretive Letter 1184, which outlines that banks may buy and sell digital assets held in custody at their customers’ direction and may also outsource crypto-related activities, such as custody and execution services, to third parties. However, banks must ensure they implement proper third-party risk management practices.

This decision is important as the OCC’s guidance enables banks to participate more actively in the rapidly growing cryptocurrency market, which now includes over 50 million Americans. The OCC’s updated rules are part of its ongoing efforts to ensure that banks can responsibly engage in emerging financial technologies while protecting consumers and complying with applicable laws.

OCC-regulated banks may buy and sell assets held in custody and are permitted to outsource bank-permissible crypto-asset activities, including custody and execution services. https://t.co/0ScQdgNaS6 pic.twitter.com/J5dEkx4WUL

— OCC (@USOCC) May 7, 2025

Rodney Hood, Acting Comptroller of the Currency, emphasized in the video that “this digitalization of financial services is not a trend. It is a transformation.” He further explained that regulated banks can provide custody services, including the safekeeping and secure storage of Bitcoin and other digital assets, on behalf of their customers. Additionally, “the banks we supervise also may buy and sell cryptocurrencies they hold in custody at their customer’s direction.”

The letter further states that banks can provide other important services, such as recordkeeping, tax reporting, and compliance services. The OCC also made it clear that banks may use sub-custodians to provide these services, but only “subject to appropriate third-party risk management practices.”

Rodney Hood also emphasized that “while a range of cryptocurrency and digital asset activities may be performed by banks and their third parties, I want to be clear that the OCC expects these activities to be conducted in a safe and sound manner and in compliance with applicable law.”

The clarification from the OCC is significant as it gives banks the ability to meet the growing demand for cryptocurrency-related services while ensuring they maintain security and comply with regulatory standards. In the video, Hood stressed that the digital shift is not just changing the way people engage with money but transforming the entire financial landscape.

For banks, this presents an opportunity to broaden their offerings by providing services related to digital assets in addition to traditional financial services. As Hood pointed out, regulated banks can now help customers manage their crypto portfolios just as they would traditional assets, with services like tax reporting and transaction recording.

However, banks must ensure they manage the risks involved in crypto custody. The OCC’s emphasis on “safe and sound” operations means that any crypto-related activity must be carried out securely and in full compliance with the law.

This updated guidance from the OCC marks an important step in integrating digital assets into the regulated financial system. With these clear rules in place, national banks are better positioned to serve customers while ensuring that crypto-related activities are conducted responsibly and securely.For more information, visit here.

This post OCC Gives Banks the Green Light to Offer Bitcoin and Crypto Custody and Trading Services first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

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What is a Strategic Bitcoin Reserve?

A Strategic Bitcoin Reserve is a designated accumulation of Bitcoin (BTC) held by a government, institution, or corporation to secure financial stability, hedge against inflation, and reinforce economic sovereignty. Similar in function to gold or foreign exchange reserves, it leverages Bitcoin’s fixed supply, decentralization, and global liquidity to mitigate economic and geopolitical risks.

What is a Strategic Bitcoin Reserve

A Strategic Bitcoin Reserve (SBR) represents a deliberate holding of Bitcoin by national governments or large corporations as part of their strategic financial reserves. Rather than speculative investment, the goal is long-term economic protection and resilience, particularly against inflationary pressures and currency devaluation inherent in fiat monetary systems. An SBR serves as a diversification strategy, integrating Bitcoin’s unique characteristics—limited supply, censorship resistance—into established financial management practices.

Key Takeaways

• Holding Bitcoin as part of a strategic reserve can strengthen financial stability and hedge against fiat currency risks.
• Bitcoin’s fixed supply of 21 million coins enhances its appeal as a deflationary, long-term asset.
• Institutional and governmental adoption of Bitcoin reserves is growing, with key examples including the United States, Strategy (formerly MicroStrategy), Metaplanet, and others.
• Incorporating Bitcoin into reserves reflects a broader shift toward financial modernization, decentralization, and economic sovereignty.

Purpose

A Strategic Bitcoin Reserve serves several important functions. First of all, it provides a buffer against economic instability by mitigating the impact of inflationary monetary policies often associated with fiat currencies. It also strengthens financial sovereignty by reducing a nation’s or institution’s reliance on traditional banking systems and centralized financial institutions. Additionally, Bitcoin offers a unique opportunity for asset diversification, as its fixed supply, decentralized nature, and digital infrastructure make it an appealing and resilient store of value in modern reserve management.

History

The concept of a Strategic Bitcoin Reserve gained prominence in the early 2020s as Bitcoin’s adoption expanded. The pivotal moment occurred in March 2025 when the U.S. President Donald J. Trump signed an executive order establishing the nation’s SBR. The initiative aimed to leverage Bitcoin’s fixed supply and decentralized nature to enhance national financial resilience.

The foundation for state-level Bitcoin adoption was laid earlier by El Salvador, which became the first country to declare Bitcoin legal tender in 2021 and began accumulating Bitcoin for national reserves. Though not officially labeled a Strategic Bitcoin Reserve, the country’s approach set a precedent for sovereign Bitcoin holdings as a monetary strategy.

Notable Examples

El Salvador

In 2021, El Salvador became the first country in the world to adopt bitcoin as legal tender and began acquiring bitcoin for national holdings. While not formally labeled a Strategic Bitcoin Reserve, the government’s ongoing accumulation strategy, including daily purchases announced by President Nayib Bukele, closely resembles the principles of an SBR. El Salvador’s move set a global precedent for sovereign Bitcoin adoption and laid the foundation for future reserve strategies.

United States

In 2025, the U.S. government formalized its bitcoin holdings into a Strategic Bitcoin Reserve, utilizing assets acquired through legal forfeitures. This move underscored a shift in policy, recognizing bitcoin’s potential as a strategic asset and aligning with broader efforts to modernize the nation’s financial infrastructure.

Strategy (formerly MicroStrategy)

Since 2020, Strategy has been at the forefront of corporate Bitcoin adoption, amassing over 500,000 BTC by 2025. The company employed innovative financial instruments, such as convertible bonds and preferred stock, to fund its acquisitions, positioning itself as a pioneer in integrating Bitcoin into corporate treasury strategies.

Metaplanet Inc.

Japanese firm Metaplanet adopted Bitcoin as its primary treasury reserve asset, issuing bonds to finance its purchases. By April 2025, the company held over 4,500 BTC, with plans to increase its holdings to 10,000 BTC by the end of the year. Metaplanet’s strategy reflects a growing trend among corporations to leverage Bitcoin for long-term financial stability.

How it Works

A Strategic Bitcoin Reserve (SBR) functions through several interrelated components. These range from how the Bitcoin is acquired, funded, stored, and governed, to how it is ultimately used as part of a long-term sovereign or institutional strategy.

1. Purchase and Allocation

The first step in establishing a Strategic Bitcoin Reserve is making the decision to formally allocate a portion of national or institutional capital to Bitcoin. This may involve passing legislation, updating reserve management policies, or assigning authority to a designated treasury or finance department.

Once the decision is made, accumulation typically follows a structured, phased approach to minimize market disruption and maintain financial stability. For example, the BITCOIN Act, introduced in July 2024 by U.S. Senator Cynthia Lummis, proposes that the federal government acquire one million BTC over five years, divided into four tranches of 250,000 BTC. This staggered model offers flexibility to time acquisitions in response to market conditions and broader economic developments, while funding would come from seized bitcoins, surplus Federal Reserve funds, and revalued gold certificates.

2. Funding Sources

To avoid burdening taxpayers or increasing public debt, strategic reserves can draw from various funding methods:

• Seized Bitcoin: Often originating from asset forfeitures or regulatory actions, such as those previously held as part of legal settlements or enforcement actions. (eg: Silk Road, Bitfinex)
• Revalued gold certificates: The U.S. Treasury holds certificates backed by physical gold that, if marked to market, could unlock hundreds of billions in value.
• Federal Reserve surplus: Surplus capital from the Federal Reserve can be redirected without impacting ongoing monetary operations.

These approaches offer flexibility and reduce the risk of politically contentious spending measures.

3. Legislative Framework and Oversight

Reserves like the U.S. Strategic Bitcoin Reserve require formal legislation to ensure public trust and legal clarity. The BITCOIN Act serves as one such framework. It sets:

• Limits on annual bitcoin purchases.
• Conditions under which bitcoin can be sold (e.g., only to pay off federal debt).
• Requirements for reporting, audit, and public disclosure.

This legal architecture creates predictability and institutional accountability.

4. Secure Storage

Securing bitcoin under a Strategic Bitcoin Reserve (SBR) presents unique challenges that go beyond traditional asset management. Because bitcoin is a bearer instrument, control of the private keys equates to control of the funds. Entrusting those keys to a single individual — or even a small group — creates significant risks, both to the reserve itself and to the people involved. Individuals may simply not want that level of responsibility, as the personal and legal risks are extraordinarily high. A failure, hack, or even a misstep could have catastrophic consequences, making sole or concentrated custody an impractical and dangerous solution.

To mitigate these risks, an SBR would likely consider an institutional-grade multisignature custody model. This setup allows for the distribution of keys across multiple, independent parties, requiring quorum-based authorization (e.g., 3-of-5 or 5-of-7) to approve transactions. By separating key holders geographically and across trusted institutions — such as treasury departments, independent auditors, or allied entities — this approach minimizes the chance of compromise while enhancing resilience and accountability. It also aligns more closely with Bitcoin’s foundational principle of decentralization, ensuring that no single actor has unilateral control over the nation’s reserve.

5. Long-Term Holding Mandate

A key feature of strategic reserves is the duration of the hold. The U.S. proposal suggests a 20-year minimum, preventing short-term political or economic disruptions from influencing management.

Bitcoin may only be sold under specific circumstances—such as debt reduction—ensuring the reserve functions as a stable store of value rather than a speculative asset. This provides policy consistency across different administrations.

6. Strategic Utility and Integration

Once in place, the reserve becomes part of a broader national financial strategy. It may be:

• Used as collateral for sovereign borrowing.
• Held alongside gold, oil, and foreign exchange reserves to diversify risk.
• Leveraged diplomatically during geopolitical negotiations or economic partnerships.

The SBR thus serves both a defensive and offensive role—protecting domestic purchasing power while enabling financial innovation and strategic influence.

Related Terms

• Bitcoin (BTC): A decentralized digital currency with a fixed supply of 21 million coins, operating on blockchain technology.
• Cold Storage: Secure, offline methods for storing cryptocurrencies to prevent unauthorized access.
• Multi-signature Wallet: A cryptocurrency wallet that requires multiple keys to authorize transactions, enhancing security.
• Fiat Currency: Government-issued currency not backed by a physical commodity, such as the US Dollar or Euro.

Why Bitcoin is Being Considered as a Strategic Reserve

Bitcoin is gaining attention as a strategic reserve asset due to its fixed supply, decentralization, and resilience. With only 21 million coins ever to exist, Bitcoin offers a deflationary counterpoint to fiat currencies that are regularly expanded through monetary stimulus.

Its decentralized design—free from any central authority or leadership—instills confidence in its neutrality. Satoshi Nakamoto, the anonymous creator, walked away from the project in 2010, leaving behind a system governed by code and distributed consensus. This absence of leadership makes the network more resistant to censorship, political pressure, or manipulation.

Bitcoin’s market capitalization has grown to the point where corporations and governments now view it as large and liquid enough to consider for reserves. As trust in traditional monetary systems declines, bitcoin is increasingly seen as a viable hedge.

The current fiat system may be approaching its endgame—overextended by debt and distortion. If the system cracks, Bitcoin could be a legitimate financial fallback: a bearer-based, censorship-resistant monetary asset outside the reach of central banks.

Bitcoin also offers transparency, programmability, and auditability—qualities that position it as a serious contender in future monetary and reserve strategies.

How Likely Is the U.S. Strategic Bitcoin Reserve?

The U.S. Strategic Bitcoin Reserve Is No Longer a Hypothesis

With the national debt surpassing $35 trillion and the limitations of traditional monetary policy becoming increasingly evident, the U.S. has taken decisive action by formally establishing a Strategic Bitcoin Reserve. This development, announced via an executive order in March 2025, confirms that the federal government views bitcoin not merely as an emerging asset, but as a critical component of long-term fiscal and strategic planning. 

This move is symptomatic of the convergence of economic and geopolitical factors:

• Game-Theoretic Pressure: As it is thought that some nations are quietly accumulating bitcoin, the U.S. won’t want to risk falling behind in a finite-asset race. Early adoption is now a strategic imperative.
• Sovereign Resilience: Bitcoin’s immunity to censorship, seizure, and monetary debasement makes it uniquely suited for sovereign reserves in an increasingly fragmented global financial system.
• Market Maturity: Bitcoin’s deepening liquidity and growing market cap now meet the thresholds required for sovereign-level acquisition without destabilizing the market.
• Cross-Party Support: The reserve has drawn backing from across the political spectrum—appealing both to advocates of fiscal discipline and to supporters of decentralized, non-state monetary systems.

With the Strategic Bitcoin Reserve now a matter of policy, attention will increasingly turn to its execution—particularly how it is funded, how custody is managed, and how acquisition is phased to avoid disrupting markets. The foundation has been laid; the next challenge is implementation at scale.

FAQs

How is a Strategic Bitcoin Reserve different from corporate bitcoin holdings?

While both may involve large, long-term holdings, the key difference lies in purpose and scope. A Strategic Bitcoin Reserve—especially at the state level—is held to enhance national economic resilience, hedge against sovereign currency risk, and support strategic autonomy. Corporate holdings, by contrast, are usually governed by fiduciary obligations and focused on optimizing balance sheets or shareholder returns. That said, some corporations like Strategy or Metaplanet blur this line by explicitly framing their bitcoin holdings as core to long-term strategic treasury planning.

What risks are associated with a Strategic Bitcoin Reserve?

Primary risks include Bitcoin’s market volatility, cybersecurity threats, regulatory uncertainties, and potential political opposition domestically or internationally.

How Will a Strategic Bitcoin Reserve Impact BTC Price?

Establishing an SBR at the sovereign level could exert significant upward pressure on Bitcoin’s price, especially given its fixed supply. Large-scale purchases by governments or state institutions would reduce available supply, potentially driving greater demand and long-term valuation increases. Market participants may also front-run anticipated purchases, compounding volatility in the short term.

Is a Bitcoin Reserve a Good Idea?

The cypherpunks and early Bitcoin adopters—those who valued Bitcoin as a tool for personal sovereignty and separation of money from state—may view the concept of a government-controlled Bitcoin reserve with deep skepticism, as Bitcoin was built to be outside the reach of centralized power. State-level reserves risk inviting political capture, custodial control, or dilution of Bitcoins core ethos.

Yet, others may find merit in governments adopting Bitcoin as a monetary hedge. From this perspective, it reinforces individual liberty through sound money principles and offers a way for governments to reduce dependence on inflationary fiat systems. It also positions bitcoin as a reserve asset in a multipolar world of competitive currencies.

From a pragmatic angle, securing a bitcoin reserve can enhance monetary resilience, accelerate adoption, and demonstrate forward-thinking financial strategy. It helps governments hedge against fiat debasement and increases their credibility amid rising sovereign debt and central bank distrust.

Ultimately, if Bitcoin is to serve as the next global reserve money, then individuals, institutions, and governments alike will need to hold some. The central question isn’t whether governments will adopt it—but how bitcoin will be distributed and accessed, and whether its foundational principles can be preserved in the process.

Takeaway

The rise of Strategic Bitcoin Reserves marks a turning point in how governments, corporations, and institutions approach long-term economic security. Bitcoin’s immutability, neutrality, and fixed supply make it fundamentally different from traditional reserve assets—globally accessible, apolitical, and digitally native.

We are witnessing game theory in action. Often, actors wait for external validation before taking bold steps—and there is no greater signal than the United States of America strategically stockpiling bitcoin. This not only grants implicit permission for others to follow, but also communicates long-term belief in Bitcoin’s value.

Its adoption reflects a growing recognition that the fiat system may be nearing exhaustion. In this context, bitcoin is more than an asset—it’s a hedge, a strategic benchmark, and a potential backbone for future monetary systems.

The question is no longer if reserves will be established—but how they will be structured, secured, and balanced with the principles that made Bitcoin valuable in the first place: openness, decentralization, and individual sovereignty.

This post What is a Strategic Bitcoin Reserve? first appeared on Bitcoin Magazine and is written by Conor Mulcahy.

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Sculpting Scarcity: Artist Maxfield Mellenbruch Brings Rare Steak Worth Millions To Bitcoin 2025 

Maxfield Mellenbruch — an American sculptor, designer, and the creator of the iconic Kialara series — returns to the bitcoin stage with Rare, a platinum and gemstone-encrusted sculpture appraised at over $2 million. Mellenbruch first gained recognition in 2014 for crafting cold-storage Bitcoin wallets that blurred the line between high design and cryptographic function, earning a cult following among early adopters and collectors alike. His work explores themes of security, value, and permanence in the digital age.

Now, with Rare, he unveils his most ambitious piece to date. On view exclusively in the Deep Vault VIP exhibition during Bitcoin Conference 2025 in Las Vegas, Rare stands as the centerpiece of this year’s art auction and is expected to become the highest-selling artwork priced in bitcoin in the conference’s history.

Mellenbruch will also appear as a featured speaker on the Genesis Stage in a panel titled “From Cave Art to Code: Redefining Value in a World of Absolute Scarcity” alongside Vijay Boyapati and Jesse Myers, moderated by Erin Redwing of Inscribing Vegas. The conversation takes place on May 29, 2025, from 3:10–3:40 PM, just hours before the auction for Rare concludes on Scarce.City.

In advance of the artwork’s unveiling and auction at Bitcoin 2025, I spoke with Max about the ideas behind Rare and the evolving role of art in a Bitcoin-denominated world.

Rare is a jeweled sculpture of extraordinary commitment — over 12,000 gemstones, a 2.56-pound platinum cast, and a design that blends anatomical familiarity, extreme material excess, and almost satirical details like its leather case mimicking butcher paper.  What compelled you to make this piece, and how long did it take to conceive, source, and execute such a technically and financially ambitious work?

The whole thing took about a year—casting the platinum, setting over 12,000 stones by hand, pulling together the right people. From the start, Rare was a stretch: technically, financially, creatively. 

The idea had been building for a while—driven by a growing interest in what’s real, what endures, and what nourishes. I started cutting out processed food and paying closer attention to what I was putting in my body. That naturally led me to steak—simple, unprocessed, nutrient-dense. For a couple years, it was at the center of my diet. And the more I leaned into it, the more I noticed how controversial it had become. The narrative around red meat reminded me of how Bitcoin was treated in its early days—dismissed, attacked, misunderstood. But to me, both represented something honest and resilient. Rare came out of that overlap. Not as a dietary message or anything like that, but as a reaction to the way value gets distorted—and the instinct to come back to something elemental.

I already knew I had to make it. But seeing people’s reactions—from my jeweler’s excitement to someone at the casting house laughing in disbelief—helped confirm it. Rare isn’t just about excess. It’s about curiosity—about taking one idea as far as it can go and seeing if it still holds up.

Writer Jesse Myers suggests that humans are biologically wired to seek out scarce assets — a primal instinct that Bitcoin taps into. How did this idea inform your vision for Rare?

We’ve always chased what’s hard to get. That instinct hasn’t changed—just the objects have. Bitcoin taps into it. So does gold. So do gems. With Rare, I wanted to hit that same nerve—only through something physical. Platinum, diamonds, rubies—materials that carry weight, both literally and symbolically. They’re beautiful, elemental, forged over time. We respond to them without needing to be told why.

The title Rare does more than describe it. It’s a word people see all the time, but once they’ve seen this piece, it sticks differently. It rewires the word. Hijacks it a little. And the next time they see a steak—or hear the word rare—this might be the first thing that comes to mind. That’s part of the fun.

And yeah, part of this was about pushing the ceiling higher. If Rare works, it lifts everything that came before it. I think about that—how to keep things moving forward, not just for me, but for the collectors who’ve believed in my work from the start. It’s not about hype—it’s about making something that holds.

Your sculpture joins a lineage of high-stakes artworks that provoke intense responses — Fabergé eggs as imperial excess, Damien Hirst’s diamond skull as a meditation on wealth and mortality, Manzoni’s Artist’s Shit as market provocation. In the era of Bitcoin as a decentralized store of value, how does Rare challenge our inherited instincts around luxury, permanence, and what it means for something to be truly “valuable”?

I wanted to create something that felt impossible at first glance—a diamond-and-ruby steak. It’s absurd, sure. But that’s the point. We’re surrounded by noise, and attention has become its own kind of currency. I wanted to cut through it—not just to shock, but to say something about what we value. About what lasts. Like the works you mentioned, Rare plays with extravagance not just to impress—but to provoke.

I’ve spent the last decade creating physical Bitcoin wallets—art that held both currency and trust. I kept my head down, focused on craft, and over time, that turned into a real collector base. Rare isn’t a departure—it’s the next step. Just louder. Still speaking the same language: weight, precision, permanence.

I feel like I’ve earned the right to go there.

With Rare appraised at over $2 million and debuting at a Bitcoin event, the piece sits at the edge of cultural whiplash — a confrontation with both material opulence and Bitcoin’s trajectory. Do you see it as a kind of “future shock” — especially as figures like Michael Saylor suggest Bitcoin could reach $13 million per bitcoin? Even among Bitcoiners, how prepared do you think people are to emotionally process that scale of value?

I’m not even sure what “future shock” means anymore. Maybe it’s not about being surprised by the future—but realizing you’re already behind. A lot of people missed Bitcoin early on, and now they’re watching it run. So yeah, $13 million a coin sounds wild—but maybe what’s wilder is having none.

Things are moving fast—tech, money, culture—and it’s hard to keep up. People are overwhelmed. That’s where something like Rare fits in. It’s physical. You can see it, feel it. In a world where most value is invisible, that matters. Bitcoin’s different—it’s digital, but it still forces you to rethink what’s real. Same with long-term plays like ETFs. They’re all just different ways of asking: where do I put my value?

Most people probably aren’t ready. But no one really is. We’re all trying to figure it out while the ground keeps shifting.

Your earlier works, like the Kialara Labyrinth edition in 2015, helped give Bitcoin one of its first tangible forms — blending design, function, and cryptographic symbolism into a physical object. With Rare, you’ve moved from secure vessel to cultural artifact. How does this evolution mirror Bitcoin’s own transformation — from a niche cypherpunk experiment to a globally recognized store of value and institutional or corporate treasury asset?

In the early days, Bitcoin felt invisible. I wanted to give it a physical form—something fun and engaging people could actually hold. The Kialara series did that. It helped Bitcoin feel real when it was still mostly abstract.

But now Bitcoin is mainstream—ETFs, corporate treasuries, global headlines. It doesn’t need the same kind of validation. It doesn’t need me in the same way. So my role has shifted. With Rare, I’m contributing to the culture around it.

At a time when food, value, and meaning are all in flux… I wanted to create something that holds that tension. I’m not trying to make a nutritional statement, but I get the same feeling from beef and the carnivore movement now that I got from Bitcoin a decade ago—disruptive, controversial, misunderstood. Rare felt like the right place to explore that.

As Bitcoin blurs lines between money, ideology, and art, what do you see as the artist’s role in making sense of this shift — especially when the work itself, like Rare, sits at the intersection of extreme material value and symbolic power?

I’m not sure if the artist’s role is to make sense of the shift—or if the shift happens because the artist shows up. Sometimes we reflect the world. Sometimes we bend it. And today, what counts as an artist is wide open. Satoshi didn’t make traditional art, but he reshaped how we see trust, time, and value. That feels like art to me.

With Rare, I took some of the Earth’s most enduring materials and shaped them into something instinctual—something tied to appetite, ritual, and survival. No electronics. No moving parts. Raw elements from deep underground, shaped into a form we all recognize but rarely stop to consider. A cut of meat, frozen in time. It doesn’t try to explain the moment—it lets the tension sit there. Still. Silent. But alive.

That’s what art can do. It doesn’t hand you meaning—it waits for you to find it.

Rare by Max Mellenbruch will be exclusively available for auction during Bitcoin Conference Las Vegas. The sculpture will be on view in the Deep Vault — a private exhibition space accessible only to Whale Pass holders. Bidding has started on Scarce.City and concludes May 29th. 

Max’s book Kialara, chronicling his early Bitcoin journey and the creation of his meticulously crafted physical wallets, can be found here. 

This post Sculpting Scarcity: Artist Maxfield Mellenbruch Brings Rare Steak Worth Millions To Bitcoin 2025  first appeared on Bitcoin Magazine and is written by Dennis Koch.

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An Excerpt From I Am Not Your Bruh: Parenting Is Progress, Not Perfection

Parenting isn’t rocket science. It’s much harder. With all due respect to rocket scientists, the implications of a failed launch are far less consequential than a failed parenting strategy.

Progress is a more attainable goal to strive for, and taking steps that lead to meaningful change is all you can really hope for. Parenting is the most challenging and most rewarding responsibility afforded to us in this life. Imagine bringing a whole entire human being into this world who is a literal piece of you and not being awed by such a profound blessing. Your family is your biggest flex.

Still, perfection is a trap. If you expect perfect days, perfect moods, perfect meals, or perfect discipline, you’re setting yourself up for disappointment. Children don’t need perfect parents. They need present parents who are committed to growing right alongside them.

In the everyday struggles and triumphs of life, the small moments matter most: an encouraging word after a tough day, the consistency of a hug even after a tantrum, the patience to listen when it’s easier to scold. Progress means showing up a little better today than you did yesterday, and giving yourself (and your kids) the grace to fail forward.

Parenting is not about reaching some final destination of mastery—it’s about the journey. And every small, intentional step forward is a victory worth celebrating.

For Mother’s Day, grab a copy of I Am Not Your Bruh for just $21 (regularly $29.99) and invest in timeless parenting wisdom to guide the next generation.

This post An Excerpt From I Am Not Your Bruh: Parenting Is Progress, Not Perfection first appeared on Bitcoin Magazine and is written by George Mekhail.

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Scotland’s Lomond School and Saifedean Ammous Launch New Bitcoin Scholarship Program

In a bold new step blending education and Bitcoin innovation, Lomond School has announced the launch of the Satoshi Scholarships, a first-of-its-kind Bitcoin-powered scholarship initiative, according to a press release sent to Bitcoin Magazine. The announcement comes alongside a strategic partnership with renowned economist Dr. Saifedean Ammous to develop an Austrian economics curriculum for students.

The independent co-educational day and boarding school, already known as the first in the world to accept Bitcoin for tuition, is now offering 21 two-year boarding scholarships and 21 two-year day scholarships—fully covering the school’s prestigious International Baccalaureate (IB) programme. Each scholarship is designed to empower students with a passion for economics, innovation, and critical thinking, regardless of their background.

“The response from the Bitcoin community since announcing our acceptance of Bitcoin for fees has been phenomenal,” said Claire Chisholm, Principal of Lomond School, during an appearance on Jordan Walker’s Bitcoin Collective Podcast. “The scholarship programme seemed like the natural next step. With Dr. Ammous backing our curriculum and the introduction of our scholarship programme, I invite committed supporters to join us as benefactors and help shape the next generation of economic thinkers.”

Beyond scholarships, the school is also launching a new economics curriculum in collaboration with Dr. Ammous, best known as the author of The Bitcoin Standard. The initiative will emphasize Austrian economics, sound money, and the ethics of financial liberty.

“The future of freedom and prosperity depends on the next generation understanding sound economics,” said Dr. Ammous. “With this partnership, we aim to plant the seeds of long-term thinking and financial literacy early in life. I am delighted to work with Lomond School on this incredibly exciting project.” 

The curriculum will complement Lomond’s already progressive learning model, with hands-on Bitcoin integration. Students will explore decentralized finance principles, interact with Bitcoin mining hardware donated to the school, and gain practical understanding of monetary systems beyond the traditional classroom. 

Lomond School said it is actively seeking 43 founding benefactors—one for each scholarship and the flagship sponsor package. As Chisholm put it: “Be one of the 43 to shape the future — where education meets innovation, and where Austrian economics takes root in the classroom. Help us change the world from Helensburgh.” Those interested can learn more or express interest by contacting [email protected]. 

This post Scotland’s Lomond School and Saifedean Ammous Launch New Bitcoin Scholarship Program first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

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Fidelity’s Chris Kuiper Presents “The Investment Case For Bitcoin” At Corporate Conference 

Speaking at Strategy World 2025 today, Chris Kuiper, Vice President of Research at Fidelity Digital Assets, challenged corporations to reexamine how they think about risk, capital allocation, and long-term financial health. “Bitcoin has outperformed every major asset class over the last ten years,” Kuiper said. “If you’re a company sitting on cash or low-yield bonds, you’re falling behind.” 

JUST IN: Fidelity’s Chris Kuiper presents “The Investment Case for #Bitcoin” to corporations interested in adopting BTC

“Bitcoin has more good volatility than bad volatility,” there is “opportunity” here pic.twitter.com/JSqbMVhqlF

— Bitcoin Magazine (@BitcoinMagazine) May 7, 2025

With over a decade of data, Kuiper made the case that Bitcoin isn’t just a speculative asset—it’s a superior strategic reserve. The numbers were front and center: Bitcoin has delivered a 79% compound annual growth rate (CAGR) over the last decade and 65% over the past five years. In contrast, Kuiper showed that investment-grade bonds returned just 1.3% nominally over the same period.

“Corporations often focus on volatility. But volatility isn’t risk—permanent capital loss is,” Kuiper explained. He cited inflation and currency debasement as the real threats facing balance sheets today, showing how even traditional safe havens like U.S. Treasury bonds have suffered negative real returns over time. 

To address concerns about Bitcoin’s volatility, Kuiper offered two practical strategies: position sizing and long-term thinking. “Bitcoin doesn’t have to be all or nothing,” he said. “It’s not a switch—it’s a dial.” Even a 1–5% allocation, he argued, can significantly improve a corporation’s risk-adjusted return while limiting drawdown exposure.

The presentation then turned to corporate fundamentals. Kuiper emphasized the importance of return on invested capital (ROIC) over headline earnings, calling out the inefficiencies of sitting on cash. As an example, he noted that Microsoft’s ROIC drops from 49% to 29% when excess cash is included—highlighting the drag idle capital creates.

“Corporations are laser-focused on income statements, but it’s the balance sheet that tells the real story,” Kuiper said. “Cash is part of that story—and Bitcoin can turn it from dead weight into a productive asset.” 

He closed with a direct question to executives: “What’s your opportunity set—and do you believe those opportunities can outperform Bitcoin?”

In Kuiper’s view, the answer is increasingly obvious. 

This post Fidelity’s Chris Kuiper Presents “The Investment Case For Bitcoin” At Corporate Conference  first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

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Michael Saylor Delivers Bitcoin for Corporations 2025 Keynote Speech

In his keynote at Bitcoin for Corporations 2025, Michael Saylor, Executive Chairman of Strategy, laid out a powerful case for why Bitcoin represents the most compelling capital asset for corporations today. Saylor emphasized the stark economic realities facing the vast majority of public companies, labeling 96% of them as “zombie companies” that are unable to outperform a Treasury bill.

From Zombie Company to Treasury Titan

Drawing on his own experience at Strategy, Saylor recounted how the company leveraged Bitcoin as a balance sheet strategy starting in 2020, transforming itself from a stagnating enterprise to one of the most profitable Bitcoin-backed firms in the world. “If you’re not Apple, Google, or Nvidia,” Saylor said, “you need to find a strategy to break free from the stranglehold of digital monopolies.”

Saylor’s pitch to the audience was clear: Bitcoin is not just an asset – it’s the antidote to corporate entropy. Unlike AI, which he described as a consensus technology that amplifies the power of incumbents, Bitcoin offers a paradigm shift, allowing companies to store value in an asset that is “indestructible, invisible, and immortal.”

For Saylor, the Bitcoin strategy is simple: “You want to 10x your company? Buy Bitcoin. You want to 100x? Buy Bitcoin with someone else’s money.” He argued that while the Magnificent Seven – Apple, Google, Meta, Amazon, Microsoft, Nvidia, and Tesla – will continue to dominate, Bitcoin offers a rare path for smaller firms to align with a global monetary network in its nascence.

Saylor concluded with a bold call to action: “Bitcoin is the universal, perpetual, profitable merger partner for every company on Earth. The only question is: Are you ready to make the merger?”

Watch the full livestreams for Days 1 and 2 of Bitcoin for Corporations on the Bitcoin Magazine YouTube channel.

This post Michael Saylor Delivers Bitcoin for Corporations 2025 Keynote Speech first appeared on Bitcoin Magazine and is written by Spencer Nichols.

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Strive Asset Management Merges with Asset Entities to Launch A Public Bitcoin Treasury Company

Strive Asset Management, LLC, a $2 billion institutional investment firm and subsidiary of Strive Enterprises, Inc., has announced a definitive merger with Asset Entities Inc. (NASDAQ: ASST), a digital content and social media technology company. The transaction will result in a new entity, claiming to be the first public Bitcoin Treasury Company designed to maximize Bitcoin exposure per share using innovative, minimally dilutive strategies.

Strive Asset Management is becoming a Bitcoin Treasury Company!

We are thrilled to combine with Asset Entities (Nasdaq: ASST) to create the first publicly traded asset manager on the Bitcoin Standard.

Strive intends to use all available mechanisms, including novel financial…

— Ben Pham (@BenPhiat) May 7, 2025

The merged company will operate under the Strive brand and remain listed on NASDAQ. Matt Cole, Strive CEO, will lead the new entity as Chairman and CEO and is set to deliver the first public remarks about the announcement today at 2:15 p.m. ET during the Strategy World conference, available via the livestream below:

Here’s what they’re doing:

• Bitcoin-for-Stock Offer:
  Strive plans to let some accredited investors trade their Bitcoin for company stock without paying taxes up front. This is through Section 351 of the U.S. tax code. The deal could go up to $1 billion, and is expected to be tax-free if requirements are met.
• Buying Cash at a Discount:
  Strive wants to merge with public companies that have more cash than their stock is worth. This lets Strive get cash cheap and use it to buy more Bitcoin, which could help grow value for shareholders.
• Using Leverage and Hedging:
  Strive will use its fixed income and derivatives experience to borrow money and hedge risks while buying more Bitcoin. They say no other Bitcoin treasury has used this kind of strategy.
• Ready to Raise More Capital:
  Because of how the merger is set up, the new company will be able to raise money fast using a $1 billion shelf registration. They’ll only use this when it helps shareholders.

Strive’s mission is clear: build a long-term Bitcoin treasury with a capital deployment strategy that aims to outperform Bitcoin itself. To accomplish this, Strive claims it is deploying a series of first-in-class financial tools not previously used in the Bitcoin treasury space.

The executive team of the combined company includes Ben Pham as CFO, Arshia Sarkhani (former CEO of Asset Entities) as CMO, and Logan Beirne as CLO. Additional board members will include Bitcoin advocates Ben Werkman, Jeff Walton, and Avik Roy.

Since its founding in 2022, Strive Asset Management has quickly emerged as a force in the asset management industry, challenging ESG mandates and championing unapologetic capitalism. This merger marks the beginning of a new strategic push: corporate adoption of Bitcoin treasuries.

This post Strive Asset Management Merges with Asset Entities to Launch A Public Bitcoin Treasury Company first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

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How Bitcoin Mining Can Energize Real Estate

Introduction

Real estate is an energy-intensive industry. During construction, significant energy resources are required for operating heavy machinery and equipment, as well as producing materials like cement and steel. 

Once constructed, buildings continue to demand substantial energy for various functions. For instance, residential properties require consistent heating, cooling, and lighting, while commercial properties like hotels, malls and stadiums have additional energy needs for climate control, complex lighting systems, high-capacity HVAC systems and require energy for powering amenities such as elevators, escalators, and restrooms. Agricultural facilities and stables often use energy-intensive systems for irrigation and equipment operation. 

This persistent demand for energy typically results in high capital expenditures and operational costs, imposing a significant financial burden on both homeowners and tenants.

In most jurisdictions, including the United States, landlords can pass energy costs on to renters, further escalating living expenses. The specifics can vary depending on local regulations and the type of lease agreements in place (e.g., gross versus triple net leases).

Bitcoin mining: a solution to soaring living expenses

In Germany, for instance, reliance on imported energy resources, especially natural gas, has become even more expensive due to geopolitical tensions. With domestic options like nuclear power largely phased out, developers and property managers face rising expenses that inevitably filter down to tenants, driving up the overall cost of housing.

Bitcoin mining involves miners searching for a random number that meets specific criteria, with a solution typically found every 10 minutes. Although most readers are familiar with this process, known as Proof-of-Work, it remains a fundamental mechanism underpinning Bitcoin’s security and decentralization. This process not only rewards successful miners with bitcoin but also transforms electricity into both processing power and significant amounts of heat. The more computational power employed, the more secure the network becomes, making it increasingly difficult for any single entity to control or manipulate it.

With an effective system in place, this excess heat can be captured and utilized for various purposes, allowing energy to be harnessed in two dimensions, computing power and heat.

Paving a truly sustainable energy path with bitcoin

The word “sustainable” has been so misused that I almost prefer not to use it at all. Like other positively connoted terms, it has been abused, especially by institutions that seek to control its meaning. Nevertheless, the underlying concept is sound, and Bitcoin makes it possible. By incorporating Bitcoin mining into energy management strategies, property owners can repurpose the excess heat generated by Bitcoin mining to meet certain energy needs. This heat can support building heating systems, warm water, or directly heat spaces such as residential and commercial areas. New energy systems are being developed to integrate Bitcoin miners with specialized heating systems, allowing for efficient use of this heat to maintain comfortable temperatures and improve energy efficiency within a property.

Bitcoin, solar and excess energy

In regions with sunlight, such as agricultural areas or warm climates, combining Bitcoin mining with solar panels presents a significant opportunity. 

This integration can substantially boost the return on investment for solar systems by monetizing the excess energy through bitcoin mining. For residential properties with rooftop solar installations, this also addresses grid capacity challenges that can prevent homeowners from selling surplus energy back to the grid. By utilizing Bitcoin mining, excess energy can be absorbed, converted into reusable heat, and even generate profit.

In many regions, including colder climates like Germany, building regulations mandate the integration of certain energy sources such as solar panels. However, the installation costs of solar panels can be high, with energy generation often limited. Bitcoin mining offers a solution by monetizing the generated energy, thereby providing an additional revenue stream that can help offset the high installation costs of solar panels. This added income makes solar energy, and renewable energy systems in general, more economically viable and financially attractive.

Overall, integrating Bitcoin mining into real estate can result in several economic benefits:

• Reduced Energy Costs: By repurposing excess heat from mining operations for heating or other energy needs, property owners can reduce their overall energy expenses, thereby lowering costs for tenants.
• Alternative Revenue Stream: Bitcoin mining offers a bitcoin-denominated income stream, similar to rental income in real estate. It can provide an additional cash flow alongside traditional real estate income. This extra revenue can be reinvested into the property or used to offset operational costs. 
• Increased Property Value: Reduced energy costs through Bitcoin mining may increase a building’s value by lowering operational expenses and potentially creating additional cash flow. Overall, properties that reduce energy costs and integrate renewable energy sources become more appealing to buyers.

Regulatory hurdles

While Bitcoin mining offers significant potential for the real estate industry, regulatory considerations must be carefully navigated. In some jurisdictions, integrating Bitcoin mining into property operations may face legal challenges. 

These concerns can vary based on local laws and regulations, which could impact how mining activities are implemented and managed within real estate developments. Therefore, it is crucial to navigate local laws and regulations carefully to assess the viability, ensure compliance, and maximize the benefits of integrating Bitcoin mining into property management.

A new era in property management?!

Real estate developers and investors who embrace Bitcoin mining can position themselves at the forefront of a new era in property management, where Bitcoin plays a key role. 

With the emergence of Bitcoin, real estate may eventually revert to reflecting its utility value, as bitcoin proves to be a superior store of value that many may prefer over traditional property investments. In this new paradigm, Bitcoin mining could further transform our view of properties, prompting us to see them not only as financial assets but also as purposeful physical spaces that require proper care and can generate sustainable profitability.

Integrating Bitcoin mining into real estate operations can actively support existing business processes and demonstrates how mining can positively impact living environments. As mining technology continues to evolve and its benefits become clearer, the adoption of these practices in real estate is expected to grow.

Potential decentralization in mining through the integration into tangible structures

In addition, a particularly exciting potential side effect for Bitcoiners is that many small-scale mining facilities can be integrated in a decentralized manner. This could contribute to a less centralized Bitcoin mining ecosystem compared to the current dominance of large mining pools.

Conclusion

As someone with a background in real estate development, I appreciate that Bitcoin is not just a concept or utopia. It is a protocol and computer network with tangible impacts on our physical world. The synergy between Bitcoin mining and real estate offers a promising opportunity to enhance the energy efficiency and profitability of properties.

The integration of Bitcoin mining into existing property structures or new developments currently faces several challenges, including regulatory uncertainties and the lack of pre-manufactured solutions that can be easily incorporated into buildings on a large scale. 

These obstacles underscore how early we are in the development of this technology but also present a significant opportunity for entrepreneurs to innovate and create practical solutions. 

Just as it took decades to build out the internet infrastructure, the integration of Bitcoin mining into physical structures like real estate will need time and effort. This will require careful planning, allocating dedicated space for mining operations, integrating them into the existing heating system, and addressing energy management concerns. 

A dedicated and forward-thinking landlord or property manager can overcome these challenges and unlock the benefits of combining real estate with Bitcoin mining.

This is a guest post by Leon Wankum. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

This post How Bitcoin Mining Can Energize Real Estate first appeared on Bitcoin Magazine and is written by Leon Wankum.

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ERIC & DONALD TRUMP JR TO SPEAK AT BITCOIN CONFERENCE 2025!

The speaker lineup for Bitcoin 2025 continues to grow as two high-profile names join the stage: Eric Trump and Donald Trump Jr. Set to appear in Las Vegas from May 27–29, both figures bring a bold voice to the conversation around Capitalism, Bitcoin, freedom, and economic sovereignty. With their increasing engagement in the Bitcoin space, their presence marks another major moment in what is already shaping up to be stellar Bitcoin Conference.

About the Speakers

Eric Trump is Executive Vice President of the Trump Organization, overseeing a global portfolio of real estate, hospitality, and development ventures. Known for his hands-on leadership and market instincts, he has played a key role in expanding the family business across major markets. Eric has become increasingly vocal in support of Bitcoin—describing it as a superior hedge for real estate investors—and recently joined the Board of Advisors for Metaplanet, Japan’s largest corporate holder of bitcoin. He previously addressed the community at Bitcoin MENA 2024 in Abu Dhabi.

Donald Trump Jr. is a businessman, political commentator, and best-selling author with a growing public stance in favor of decentralized technologies and financial sovereignty. A longtime observer of monetary policy, Trump Jr. has emerged as a prominent voice in the national discussion around Bitcoin’s role in defending civil liberties and economic freedom in the 21st century.

About Bitcoin 2025

The excitement is building as the world’s largest Bitcoin conference approaches, Bitcoin 2025. Set to take place in Las Vegas from May 27-29, this premier event is anticipated to draw Bitcoin enthusiasts, industry leaders, and innovators from all over the globe.

Be part of the revolution! Come experience the cultural movement that’s the Bitcoin Conference – a landmark event with wealth of opportunities for networking and learning. In 2025, Bitcoin takes over Las Vegas, uniting builders, leaders, and believers in the world’s most resilient monetary network.

New in 2025: Code & Country launches on Industry Day, bringing together policymakers, technologists, and industry leaders for a full day of focused collaboration.

The aim: strengthen Bitcoin’s role in national strategy, regulatory clarity, and technological sovereignty. This marks a new era where Bitcoin’s protocol and geopolitical potential intersect more directly than ever before.

Highlights Include

• Keynote Speakers: Renowned experts and visionaries in the Bitcoin and blockchain space will share their insights and predictions for the future of digital currency.
• Workshops and Panels: Attendees can participate in hands-on workshops and panel discussions covering a wide array of topics, from technical blockchain details to practical applications in various industries.
• Exhibition Hall: The exhibition will showcase cutting-edge products and services from top companies in the cryptocurrency ecosystem.
• Networking Opportunities: With thousands of attendees expected, Bitcoin 2025 offers unparalleled opportunities for networking with peers, potential partners, and thought leaders.

Keynote Speakers

The conference is set to feature an impressive lineup of speakers, including leading Bitcoin developers, blockchain experts, and influential figures in the financial sector. Topics range from the latest advancements in blockchain technology to regulatory updates and investment strategies.

1. Ross Ulbricht, Freedom Advocate – Founder of the Silk Road marketplace, recently released by President Donald Trump from serving a double life sentence. His story has become emblematic of the clash between personal liberty, Bitcoin, and the state.
2. Cameron & Tyler Winklevoss, Co-Founders of Gemini – Early Bitcoin adopters and founders of the regulated exchange Gemini.
3. David Sacks, White House AI & Crypto Czar – Former PayPal COO and venture capitalist, now serving as the White House’s senior advisor on AI and cryptocurrency policy, leading national efforts on stablecoin legislation and digital asset strategy.
4. Jack Mallers, Co-founder of Strike and now CEO of Twenty One Capital, a Bitcoin-native firm launching with over 42,000 BTC, aiming to maximize Bitcoin ownership per share and accelerate adoption through financial and media initiatives.
5. Paolo Ardoino, CEO of Tether – Leading the world’s most widely used stablecoin, Ardoino is a driving force behind the Bitcoin and crypto liquidity and integration across emerging markets, while also spearheading various infrastructure projects.
6. Saifedean Ammous is an economist and author of The Bitcoin Standard, widely regarded as one of the most influential books on Bitcoin and Austrian economics. His work focuses on sound money, time preference, and the structural consequences of fiat monetary systems.

Past Conferences in the USA

– 2021 Miami: Where President Nayib Bukele revealed plans for El Salvador to adopt Bitcoin as legal tender, making history live on stage. Attendance: 12,000
– 2022 Miami: Where Michael Saylor delivered a landmark address on corporate Bitcoin strategy and announced additional MicroStrategy purchases. Attendance: 25,000
– 2023 Miami: Where Secretary Robert F. Kennedy Jr. became the first U.S. presidential candidate to speak at a Bitcoin conference, addressing financial freedom and civil liberties. Attendance: 26,000
– 2024 Nashville: Highlights include President Donald J. Trump’s appearance, where he voiced support for Bitcoin mining and national monetary sovereignty. Attendance: 27,000

Join Us in Las Vegas

• Date: May 27-29, 2025
• Venue: The Venetian, Las Vegas, NV, USA  
• Tickets: https://b.tc/conference/2025
• Get a free General Admission ticket when you deposit $200 on eToro – while supplies last!

This post ERIC & DONALD TRUMP JR TO SPEAK AT BITCOIN CONFERENCE 2025! first appeared on Bitcoin Magazine and is written by Conor Mulcahy.

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Morgan Stanley Plans To Offer Bitcoin And Crypto Trading To E-Trade Clients

Bloomberg reports that the Wall Street giant is in the early stages of planning to add spot Bitcoin and crypto trading capabilities to its ETrade brokerage platform. The project aims to allow ETrade’s retail clients to buy and sell popular crypto directly through their existing brokerage accounts.

The initiative, which executives expect to launch sometime next year, would represent Morgan Stanley’s biggest push yet into providing Bitcoin and crypto services to retail investors. The bank is exploring partnerships with established firms to develop the trading infrastructure, though specific partners have not been finalized.

The move comes as the Trump administration’s more favorable regulatory stance toward Bitcoin and crypto has encouraged major financial institutions to expand their offerings. Morgan Stanley already provides Bitcoin ETFs, futures, and options to its wealthy clients, but this would be its first crypto offering targeted at retail investors.

JUST IN: $1.5 trillion Morgan Stanley to offer #Bitcoin and crypto trading to E-Trade clients. pic.twitter.com/8wWuJgovrs

— Bitcoin Magazine (@BitcoinMagazine) May 1, 2025

If launched, the service would put Morgan Stanley in direct competition with crypto-native exchanges like Coinbase and Kraken. Other traditional finance firms are making similar moves – Charles Schwab has indicated interest in spot Bitcoin and crypto trading, while SoFi is considering expanding its bitcoin and services.

The timing aligns with growing institutional adoption of Bitcoin and crypto, as Bitcoin trades above $96,000 and spot Bitcoin ETFs continue attracting significant inflows. Morgan Stanley’s E*Trade platform could provide an accessible on-ramp for retail investors looking to gain direct Bitcoin exposure through a regulated financial institution.

This post Morgan Stanley Plans To Offer Bitcoin And Crypto Trading To E-Trade Clients first appeared on Bitcoin Magazine and is written by Vivek Sen.

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Global X Debuts Three New ETFs on Cboe Canada, Including Bitcoin-Focused Income Funds

Global X Investments Canada Inc. has introduced three new ETFs on Cboe Canada, expanding its footprint in the Canadian ETF market with products that offer exposure to U.S. small-cap equities and Bitcoin. The ETFs—Global X Enhanced Russell 2000 Covered Call ETF (RSCL), Global X Bitcoin Covered Call ETF (BCCC), and Global X Enhanced Bitcoin Covered Call ETF (BCCL)—are now available for trading under their respective tickers.

“With the launch of Global X Bitcoin Covered Call ETF (BCCC) and Global X Enhanced Bitcoin Covered Call ETF (BCCL), investors now have two ways to gain exposure to the price of Bitcoin, with the benefit of twice monthly distributions – a first in the Canadian marketplace,” said Chris McHaney, Executive Vice President, Investment Management & Strategy at Global X. “We’ve seen significant demand for investments that can deliver consistently for Canadians, as well as a continued appetite for cryptocurrency-focused ETFs.”

RSCL seeks to track the performance of the Russell 2000 RIC Capped Index, giving investors access to small-cap U.S. equities. It also aims to deliver monthly income by writing covered call options on the underlying assets. BCCC and BCCL are designed to provide exposure to the price of Bitcoin, while generating income through call option premiums. Both Bitcoin-linked ETFs will pay distributions twice per month—a first in the Canadian market.

BCCC invests primarily in ETFs that hold Bitcoin and writes covered call options on up to 50% of its portfolio to produce consistent yield. It does not hedge its exposure to foreign currencies. BCCL builds on this structure by incorporating leverage, targeting a 125% leverage ratio to amplify exposure and returns. It, too, employs a dynamic covered call strategy and does not hedge its currency exposure.

This latest rollout brings the total number of Global X ETFs listed on Cboe Canada to sixteen, underscoring the firm’s rapid growth and ongoing innovation in thematic and income-generating strategies. Cboe Canada continues to be a hub for ETF activity, facilitating around 15% of all volume traded in Canadian-listed securities, according to the announcement.

Victor Werny, Head of North American ETP Listings at Cboe Global Markets, added, “It is our pleasure to welcome Global X back to Cboe Canada for another significant ETF launch. Global X has consistently demonstrated leadership in creating accessible investment vehicles for sophisticated strategies and we look forward to strengthening our collaboration across Cboe’s global footprint as they continue to bring new investment solutions to market.”

Investors can access the new ETFs through standard brokerage platforms across Canada.

This post Global X Debuts Three New ETFs on Cboe Canada, Including Bitcoin-Focused Income Funds first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

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BlackRock’s Mitchnick: “Flows Are Back in a Big Way” as Bitcoin ETFs Shift to Institutional Hands

Today at the Token2049 conference in Dubai, Robert Mitchnick, BlackRock’s Head of Digital Assets, shed some insight that capital is once again flowing robustly into spot Bitcoin ETFs — but with a notable shift in who is investing. 

“The flows are back in a big way,” Mitchnick declared during a panel discussion alongside VanEck CEO Jan Van Eck and CME Group’s Giovanni Vicioso. Moderated by Bloomberg’s Eric Balchunas, the conversation focused on the evolving investor landscape in crypto markets.

Mitchnick explained that when spot Bitcoin ETFs were first launched, most inflows came from retail investors, including some high-net-worth individuals placing positions as large as $100 million. But the composition has changed over time. “Every quarter, the percentage held by retail clients has gone down while the percentage held by institutional and wealth advisory clients has gone up,” he said in the panel discussion. This shift, he noted, reflects a longer adoption cycle for institutional investors. “It wasn’t a flip-the-switch situation.”

The return of interest in Bitcoin appears to be driven by broader macroeconomic concerns. Last week, Jay Jacobs, BlackRock’s U.S. Head of Thematics and Active Equity ETFs, offered a succinct explanation: “Bitcoin thrives when you have more uncertainty.” In times of market distress or geopolitical instability, investors tend to seek assets not tied to the risks of any one country or central bank — a role Bitcoin is increasingly being seen to fulfill. This sentiment echoes long-standing views from BlackRock CEO Larry Fink, who has repeatedly suggested that Bitcoin offers investors a modern safe haven. 

JUST IN: $11.5 trillion BlackRock CEO Larry Fink says Bitcoin could go up to $700,000 if there is more fear of currency debasement and economic instability.pic.twitter.com/WOXclAsjDP

— Bitcoin Magazine (@BitcoinMagazine) January 22, 2025

During the panel, Mitchnick also challenged the notion that Bitcoin behaves merely as a leveraged proxy for tech stocks. “It doesn’t make any fundamental sense,” he said, though he acknowledged that such narratives can become “self-fulfilling” if repeated often enough.

Addressing questions about altcoin ETFs and possible regulatory changes under new SEC leadership, Mitchnick was cautious. “Those who think ‘everything goes’ will be disappointed,” he said, warning that while frameworks may evolve, they could also introduce new limitations. For now, Bitcoin remains the dominant asset of interest.

“The interest is still overwhelmingly Bitcoin,” Mitchnick concluded.   

This post BlackRock’s Mitchnick: “Flows Are Back in a Big Way” as Bitcoin ETFs Shift to Institutional Hands first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

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