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PLUS: US States step it up
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GM to all 96,759 of you. Crypto Nutshell #552 chuggin’ along… 🚂 🥜
We're the crypto newsletter that's more action-packed than a retired racer jumping back behind the wheel for one last ride... 🚗💨
What we’ve cooked up for you today…
🏦 Which US states are taking the lead?
🌊 Don’t bet against a megatrend
💪 HODLers holding on
💰 And more…
Prices as at 4:35am ET
WHICH US STATES ARE TAKING THE LEAD? 🏦
BREAKING: United States of Bitcoin? These States Are Considering BTC Reserves
We all know that Trump and his team are “studying” the feasibility of a strategic Bitcoin reserve. (At a national level)
But perhaps going a little under the radar is the news coming out of some U.S states…
Since election day, several states have began moving towards creating their own strategic Bitcoin reserves.
Here are the 3 most significant:
Texas
The second-largest economy in the US recently put forward a bill calling for the state to create a Bitcoin stockpile.
The interesting thing about this proposal is that it stipulates that the Bitcoin must be held for a minimum of five years.
“A strategic Bitcoin reserve aligns with Texas’s commitment to fostering innovation in digital assets and providing Texans with enhanced financial security.”
The proposal also allows Texans to donate Bitcoin to the state’s fund, further fuelling the treasury’s BTC reserves.
However, there has been no word on how much money Texas would be investing into Bitcoin.
Florida
The fourth-largest economy in the US is also stepping into the Bitcoin reserve discussion.
Senator Joe Gruters introduced a bill that would authorise Florida’s Chief Financial Officer to allocate up to 10% of certain public funds into Bitcoin.
“Florida has always been a leader in financial innovation, and this proposal ensures we stay ahead of the curve by embracing digital assets as part of our investment strategy.”
According to this years budget, Florida has $14.6 billion in total reserves.
So a 10% maximum allocation would result in an investment of ~$1.5 billion.
Pennsylvania
The sixth largest economy in the US is also taking an aggressive approach similar to Florida.
Pennsylvania’s proposal would allow the State Treasurer to invest up to 10% of three major state funds into Bitcoin.
That includes the State General Fund, Rainy Day Fund, and State Investment Fund, meaning Pennsylvania could deploy nearly $1 billion into Bitcoin.
“Bitcoin, which has appreciated significantly over the years, can help Pennsylvania keep pace with inflation and economic change.”
Final Takeaway
Statewide Bitcoin adoption is only just getting started.
In total, 19 states have active Bitcoin reserve bills that are making their way through the system.
States with Strategic Bitcoin Reserve bills
We can’t understate how bullish this is…
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DON’T BET AGAINST A MEGATREND 🌊
Crypto is growing:
43% faster than mobile phones 📱
20% faster than the internet 🌐
At current rates, crypto adoption will get to several billions of people by 2030.
That’s the latest message out of Brian Armstrong.
If you don’t know Brian Armstrong, he’s a true crypto O.G.
He’s the founder & CEO of Coinbase, the largest crypto exchange in the U.S., and has been involved with Bitcoin since its early days.
Today, Brian retweeted this:
Here’s how that looks visualised:
If crypto maintains its current growth rate, users will go from around ~300 million today to several billion by 2030:
A timely reminder with crypto being pretty ugly in recent weeks…
Never bet against a megatrend. 🌊
HODLERS HOLDING ON 💪
Let’s kick off the week with a checkin on the Bitcoin HODL waves! 🌊
Each coloured band shows the percentage of Bitcoin that last moved within that time period.
As the colours get cooler, the age bands get older (purple being the oldest, representing coins last moved more than 10 years ago).
As always, we’ll be focusing on long-term holders today. (coins held for more than 6 months)
Here’s the current breakdown compared to two weeks ago:
6m - 12m: 9.56% (down from 9.65%)
1y - 2y: 8.91% (up from 8.82%)
2y - 3y: 7.46% (down from 8.00%)
3y - 5y: 14.94% (up from 14.61%)
5y - 7y: 6.03% (down from 6.16%)
7y - 10y: 7.57% (up from 7.41%)
>10y: 16.96% (up from 16.93%)
In total, that’s means that ~71.43% of the Bitcoin supply has NOT moved in over 6 months.
That marks a net decrease of 0.15% compared to two weeks ago.
But what does this mean?
The slight decrease suggests that some mid-term holders (6m - 3y) and early long-term holders (3y - 7y) have started moving their Bitcoin—possibly taking profits, reallocating, or consolidating holdings.
However, ultra long-term holders (7y+) continue to accumulate, with both the 7y - 10y and >10y age bands growing.
The longest-term Bitcoin holders remain unfazed and continue to hold onto their coins.
While some supply is re-entering circulation, the bigger picture remains the same:
The majority of Bitcoin remains dormant, with long-term conviction still strong. 🚀
CRACKING CRYPTO 🥜
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Kanye West quashes memecoin launch rumors, says coins 'prey on the fans'. Kanye West posted on X, saying that he has no plans to drop a memecoin after initially teasing the idea on Friday.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
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Raremints (link) - Daily crypto news
Bitcoin Breakdown (link) - Daily Bitcoin news
Techpresso (link) - Daily tech news and insights
The Hustle (link) - Get Smarter on Business and Tech
Your Next Breakthrough (link) - Personal growth with Mark Manson
The Neuron (link) - AI trends and tools to keep you ahead
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CAN YOU CRACK THIS NUT? ✍️
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MEME CORNER 😂
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Trivia Answer: A) 10 minutes 🥳
New blocks are added approximately every 10 minutes.
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