The Bitcoin Business Newsletter | BlackRock's Bold Bitcoin Move
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Overview of this weeks newsletter
1. Key insight
2. Top news stories
3. Recommended articles & resources
4. Chart of the week
Key insight
This week’s key insight, by Brady Tinnin, is a wake up call for those having trouble deciphering the starkly polarizing opinions surrounding bitcoin.
Last week, the world’s largest asset manager, BlackRock, released a new report suggesting that a 2% bitcoin allocation is wise for any company’s portfolio.
Whether it be everyday workers, trillion-dollar asset managers, or national governments, it’s not often that new ideas reach such widespread consensus. With basically every major financial entity on the planet agreeing that bitcoin offers real value to balance sheets, bitcoin is no longer a speculative bet. It’s a competitive advantage capturing the attention of companies and countries alike.
At 2% portfolio allocation and a total addressable market worth more than $900 trillion today, a single bitcoin would be worth over $900,000 if everyone were to abide by the minimum allocation recommendation. With the price of one coin surpassing $100,000 in the past month, bitcoin is still a tiny drop in a deep blue ocean.
2% is a great start, but if we recall, two years ago, a senior financial analyst at BlackRock found that a staggering 85% bitcoin allocation offered the optimal risk adjusted allocation.
BlackRock saw that analysis and took it seriously. That finding came well before the asset manager came out publicly in support of bitcoin, which preceded its 2024 launch of the fastest growing exchange traded product in history. In less than a year, BlackRock’s bitcoin spot ETF holds more than $50 billion in BTC from more than 1,100 institutions already.
The world is increasingly coming to understand how important bitcoin is for addressing the problem of inflation. Are your company’s finances struggling with rising costs? If so, bitcoin might be the permanent remedy you’re looking for.
Top News Stories
Ohio Proposes Bitcoin Reserve to Safeguard State Finances – Bitbo
Ohio's House Bill 703 aims to establish a Bitcoin reserve to protect state funds from US dollar devaluation and foster financial innovation.
Texas Lawmaker Proposes Strategic Bitcoin Reserve
Texas Representative Giovanni Capriglione proposed a taxpayer-free Strategic Bitcoin Reserve.
Semler Scientific Purchases Another 211 Bitcoin Increasing Holdings Beyond 2,000 Bitcoin
Semler Scientific bought 211 Bitcoin for $21.5 million, raising its total to 2,084 Bitcoin with a 92.8% BTC Yield.
Riot Platforms Acquires 5,117 Bitcoin Using Proceeds From Convertible Senior Notes
Riot Platforms bought 5,117 Bitcoin for $510 million as Starboard Value urges operational changes.
BlackRock Recommends a 2% Bitcoin Allocation for Diversification
BlackRock recommends a 1-2% Bitcoin allocation for diversification, highlighting its potential benefits and acknowledging its risks.
MicroStrategy Joins Nasdaq-100 as Bitcoin-Backed Stock Surges – Bitbo
MicroStrategy, led by Bitcoin advocate Michael Saylor, will be added to the Nasdaq-100 Index on Dec. 23, reflecting its position among the largest stocks by market cap.
Other Noteworthy News
📊U.S. Spot Bitcoin ETFs Cross 500,000 BTC Net Inflows Milestone
🏦Bridgewater’s Ray Dalio Recommends Bitcoin to Hedge Against Debt Crises
💼MicroStrategy Could Surpass Nike, Starbucks at $138K Bitcoin
📰According to Forbes Trump confirms Bitcoin reserve plans.
💱Japanese Lawmaker Proposes Bitcoin Reserve Amid Economic Challenges
📈MicroStrategy Invests $1.5 Billion Expanding Holdings to 439,000 Bitcoin
💡Saylor Predicts MARA as Next Bitcoin Firm for Nasdaq 100
🪙Trump may use Bitcoin as US reserve asset on 'day one' — How high will BTC price go?
Recommended Articles
Bitcoin in the Boardroom – Tech Titans Embracing the Money of the Future | Sovreign Bitcoin Consulting
This article discusses recent proposals for Bitcoin investments by major tech companies, Microsoft and Amazon, as a strategy to protect shareholder value and embrace financial innovation.
Read Felipe Muñoz’s article on the implications of bitcoin being discussed by major corporations.
Budget deficit swells in November, pushing fiscal 2025 shortfall 64% higher than a year ago
For the month, the deficit totaled $366.8 billion, 17% higher than November 2023.
This article highlights the U.S. budget deficit reaching $366.8 billion in November 2024, driven by increased spending and rising interest costs on the $36.1 trillion national debt.
Texas House introduces bill to establish a strategic bitcoin reserve
Legislation was introduced in the Texas House of Representatives on Thursday that would enable the state to build a strategic bitcoin reserve.
This article highlights Texas' proposed bill to create a strategic Bitcoin reserve, boosting fiscal stability and Bitcoin innovation.
Recommended Podcasts
Is the Dollar Doomed? Bitcoin, Gold, and the Dollar Debt Spiral with Luke Gromen
The "What is Money?" Show · Luke Gromen joins me to discuss how money printing distorts the market process, how the US debt has spiraled out of control, the race between debasement and productivity, gold and the dollar endgame, Bitcoin and National security, and how to navigate the current macro environment.
#562: Bitcoin Has Entered The Geopolitical Game with Mel Mattison
TFTC: A Bitcoin Podcast · Marty sits down to discuss how Trump may plan to wield bitcoin and an altered Federal Reserve to compete with BRICS.
What US Taxpayers With Crypto NEED to do before Dec 31, 2024 - Get into the Safeharbor!
Watch Joe McGee live on Barry Cunningham here: MUST WATCH: LIVE BITCOIN & CRYPTO Q&A! - Learn About Crypto for FREE!
Chart of the Week
Bitcoin Lightning Nodes
This chart shows the total number of Lightning nodes on the Bitcoin network.
“With Bitcoin you can keep what you have earned — and use it however, whenever, and wherever you desire.”
– Tomer Strolight
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