Wu Says Daily Selected Crypto News - Vaneck Analyst: 20 States in the U.S. Plan to Promote Bitcoin Reserve Bills, Which Could Drive $23 Billion in Buying Pressure
Powered by ChatGPT1. Vaneck Analyst: 20 US States Propose Bitcoin Reserve Bills, Potentially Driving $23 Billion in Buying
According to Vaneck analyst Matthew Sigel, 20 states in the United States are advancing Bitcoin reserve-related legislation. If all are passed, it is expected to drive $23 billion into the Bitcoin market, equivalent to approximately 247,000 BTC. The study covers reserve funds, pension plans, and other state-level investment mechanisms in various states, with some states proposing to use state budget surpluses, stabilization funds, and land funds for Bitcoin investments.
2. Arthur Hayes Article: Memecoins are the Most Effective Form of Political Advertising
Arthur Hayes’ article points out that memecoins are the most effective form of political advertising because they can serve as viral digital word-of-mouth promotions. At least in the United States, the 2026 elections will see the emergence of numerous new personal political brands created through memecoins, which will defeat the supposedly invincible incumbents. If cryptocurrency sentiment improves, TRUMP will lead Bitcoin. If political figures believe certain policies will positively impact cryptocurrencies, TRUMP will surge significantly before the good news is announced, followed closely by Bitcoin, which has listed TRUMP as a key focus on the cryptocurrency watchlist. If I see it rapidly spike or drop, then I know something is happening.
3. Vitalik: Increasing Ethereum L1 Capacity by 10 Times is Crucial for Long-Term Ecosystem
Vitalik has published an article stating that although Layer 2 networks (L2) dominate the Ethereum ecosystem, increasing the gas capacity of Layer 1 networks (L1) by approximately 10 times holds significant long-term value, making short-term L1 scaling reasonable within the next 1-2 years. The article elaborates on multiple application scenarios: L1 scaling can enhance the censorship resistance of L2; scenarios such as cross-L2 asset transfers, large-scale exits from L2, issuing ERC20 tokens on L1, key storage wallet operations, and L2 proof submissions all require increased L1 capacity to ensure smooth operations, reasonable costs, and security.
4. Bank of Montreal (BMO) Invests $150 Million in Bitcoin ETF
Bank of Montreal (BMO), the third-largest asset management bank in Canada, disclosed in a filing to the US Securities and Exchange Commission (SEC) that it has invested $150 million in Bitcoin ETFs. BMO's largest purchase was $139 million, invested in BlackRock's iShares Bitcoin ETF, while also holding Bitcoin ETFs from companies like ARK 21Shares, Fidelity, and Grayscale.
5. Coinbase's Q4 2024 Performance Exceeds Expectations, Up 88% Quarter-over-Quarter
Coinbase reported a revenue of $2.3 billion for Q4 2024, exceeding the expected $1.87 billion, with a quarter-over-quarter growth of 88%; trading revenue reached $1.6 billion, a 172% increase; trading volume hit $439 billion. Subscription and service revenue was $641 million, up 15% quarter-over-quarter. Operating expenses totaled $1.2 billion, increasing 19% quarter-over-quarter. Net income was $1.3 billion, including $476 million in unrealized gains from its cryptocurrency asset portfolio. Earnings per share (EPS) stood at $4.68.