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cointelegraph.com Mar 19, 2025 02:49

Minnesota senator proposes Bitcoin Act after going from skeptic to believer - Minnesota state Senator Jeremy Miller has introduced the Minnesota Bitcoin Act, which he drafted after completely changing his stance on Bitcoin.“As I do more research on cryptocurrency and hear from more and more constituents, I’ve gone from being highly skeptical to learning more about it, to believing in Bitcoin and other cryptocurrencies,” Miller said in a March 18 statement.Miller said the bill aims to “promote prosperity” for Minnesotans by allowing the Minnesota State Board of Investment to invest state assets in Bitcoin (BTC) and other cryptocurrencies, just as it invests in traditional assets.Several other US states have introduced similar Bitcoin-buying bills, with 23 states having introduced legislation to create a Bitcoin reserve, according to Bitcoin Laws.A total of 39 different bills related to state investments in Bitcoin have been introduced across 23 US states. Source: Bitcoin LawsUnder Miller’s bill, Minnesota state employees would be able to add Bitcoin and other cryptocurrencies to their retirement accounts.It would also give residents the option to pay state taxes and fees with Bitcoin. Colorado and Utah already accept crypto for tax payments, while Louisiana allows it for state services.Investment gains from Bitcoin and other cryptocurrencies would also be exempt from state income taxes. In the US, up to $10,000 paid to the state can be deducted from federal taxes under the state and local tax deduction, but any amount beyond that is subject to both state and federal tax obligations.Related: SEC could axe proposed Biden-era crypto custody rule, says acting chiefThe increasing number of US states proposing Bitcoin reserve bills follows Senator Cynthia Lummis’ July Strategic Bitcoin Reserve Act, which directs the federal government to buy 200,000 Bitcoin annually over five years, totaling 1 million Bitcoin.However, on March 12, Lummis proposed a newly reintroduced BITCOIN Act, allowing the government to potentially hold more than 1 million Bitcoin as part of its newly established reserve.Bitcoin has shown significant gains compared to traditional assets in recent years. From August 2011 to January 2025, Bitcoin posted a compound annual growth rate of 102.36%, compared to the S&P 500’s 14.83%, according to Curvo data.Bitcoin’s compound annual growth rate is significantly higher than the S&P 500s. Source: CurvoMagazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

FOMO: 90%
cointelegraph.com Mar 18, 2025 19:29

83% of institutions plan to up crypto allocations in 2025: Coinbase - Institutional investors are increasingly bullish on cryptocurrency, with 83% saying they plan to up crypto allocations in 2025, according to a March 18 report by Coinbase and EY-Parthenon. Already, nearly three-quarters of firms surveyed said they hold cryptocurrencies other than Bitcoin (BTC) and Ether (ETH), and a “significant majority” said they plan to boost crypto allocations to 5% or more of their portfolios, the report said. They are motivated by the view that “cryptocurrencies represent the best opportunity to generate attractive risk-adjusted returns over the next three years,” according to the report.Coinbase, the US’ largest crypto exchange, and EY-Parthenon, a consultancy, based the findings on interviews with more than 350 institutional investors in January. Among institutional altcoin holdings, XRP (XRP) and Solana (SOL) are the most popular, the survey found. Coinbase and EY-Parthenon surveyed more than 350 financial institutions on crypto. Source: CoinbaseRelated: Stablecoin adoption, ETFs to propel crypto performance in 2025: CitiAltcoin ETFs incomingAltcoin holdings could rise even further if US regulators approve planned exchange-traded fund (ETF) listings this year.Asset managers are awaiting a greenlight from the US Securities and Exchange Commission to list more than a dozen proposed altcoin ETFs. Litecoin (LTC), SOL and XRP are seen as the most likely to see near-term approval, according to Bloomberg Intelligence. On March 17, the Chicago Mercantile Exchange (CME) Group, the largest US derivatives exchange by volume, launched futures contracts tied to SOL, marking a significant step toward institutional adoption of the altcoin. Stablecoins and DeFi take offMeanwhile, stablecoins continue to see institutional uptake, with 84% of respondents either holding stablecoins or exploring doing so, the survey found. According to the report, institutions are using “stablecoins for a variety of use cases beyond just facilitating crypto transactions, including generating yield (73%), foreign exchange (69%), internal cash management (68%), and external payments (63%).”In December, investment bank Citi said stablecoin adoption will accelerate onchain activity, including in decentralized finance (DeFi). The survey found that only 24% of institutional investors currently use DeFi platforms, but that figure is expected to grow to nearly 75% in the next two years. “Institutions are attracted to DeFi for myriad reasons, citing derivatives, staking, and lending as the use cases they are most interested in, followed closely by access to altcoins, crossborder settlements, and yield farming,” the report said.Magazine: Bitcoin dominance will fall in 2025: Benjamin Cowen, X Hall of Flame

FOMO: 85%