Greetings Bitcoiner,

Welcome to Issue #192 of Bitcoin Breakdown, where we’re bringing you your end-of-week Bitcoin Digest featuring all the need-to-know Quick Bits snippets and Quick Media.

But first, today’s Top Stories:

• 🖋️ Trump Signs Bitcoin Strategic Reserve Executive Order

• 🤠 Texas Senate Paves Way for Bitcoin Reserve

• 🇧🇷 Brazilian Firm Méliuz Bets on BTC

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Mar 7, 2025

TODAY’S TOP STORIES

🖋️ Trump Signs Bitcoin Strategic Reserve Executive Order

President Trump has signed an executive order (EO) establishing a Strategic Bitcoin Reserve by retaining forfeited 200K bitcoin. The federal government won't sell any bitcoin it accumulates and plans to grow its holdings without the use of taxpayer funds. The EO also establishes a US Digital Asset Stockpile for other digital assets obtained through forfeiture proceedings. However, it explicitly states that the government will not actively acquire additional assets for this stockpile, differentiating the status of bitcoin from other digital assets. Bullish yet? Forbes

🤠 Texas Senate Paves Way for Bitcoin Reserve

In a decisive roll for Bitcoin adoption, the Texas Senate passed SB-21 with a strong majority, setting the stage for the nation’s first digital asset reserve. Champion Senator Schwertner argued that digital currency now secures assets better than outdated cash, reflecting growing confidence in Bitcoin’s ability to hedge inflation and stabilize state finances. The bill awaits gubernatorial approval. CoinDesk

🇧🇷 Brazilian Firm Méliuz Bets on BTC

Méliuz becomes the first publicly traded Brazilian firm to designate 10% of its cash reserves for Bitcoin. The company purchased approximately 45.72 BTC, with Chairman Israel Salmen calling BTC a long-term store of value. This strategy aims to counter declining investor interest while battling the opportunity cost of traditional fixed-income investments. CryptoSlate

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QUICK BITS

• David Sacks, Trump’s AI and crypto czar, criticizes the previous administration's handling of BTC holdings, costing taxpayers billions in potential value by selling 195,000 BTC.

• Bitwise says Trump’s SBR ‘dramatically reduces’ the likelihood the US government will someday ban Bitcoin.

• Coinbase Director Conor Grogan says the recent executive order may remove about $18B of sell-side pressure, citing US government's 198,109 BTC holdings.

• UK Judge orders Craig Wright to pay $290,000 in court and other legal costs for the improper use of artificial intelligence.

• US Customs and Border Protection mistakenly seized Bitcoin miners, classifying them as radio frequency devices.

• North Korea's Lazarus Group uses Cryptomixer and Wasabi Wallet to launder part of the $1.4B in funds stolen from the Bybit hack.

• New Hampshire's House Commerce and Consumer Affairs Committee approves bill HB 302, allowing state investment in Bitcoin and crypto, awaiting a full House vote.

• US Treasury sanctions 49 Bitcoin and Monero addresses connected to shuttered darknet site Nemesis run by Iranian national Behrouz Parsarad.

• Singapore considers caning as punishment for crypto fraudsters to deter financial crimes and prevent scams.

• $22M in BTC moved from six ancient Bitcoin wallets after 14 years.

• Japan’s ruling party proposes cutting bitcoin capital gains taxes to 20%, classifying digital assets as a distinct class under financial regulations.

• Emirates NBD, a Dubai government-owned bank, starts offering Bitcoin and crypto services through its digital bank subsidiary Liv.

• Andreessen Horowitz, a Silicon Valley venture capital firm, explores tech investments in El Salvador, discussing Bitcoin, digital assets, and Artificial Intelligence laws with President Nayib Bukele.

• GOP senators vote to repeal a Consumer Financial Protection Bureau (CFPB) rule that protects consumers from illegal debanking, after previously promising to fight debanking.

• Wedbush forecasts that within the next year, 5% of all publicly traded companies will incorporate Bitcoin into their corporate treasuries.

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QUICK MEDIA

• President Donald Trump signs executive order establishing a Strategic Bitcoin Reserve for the United States (Mar 7 | 0:54 min watch). 

• Michael Saylor appears on CNBC to talk about the US strategic Bitcoin reserve and its potential to help the government pay off its debt (Mar 3 | 8:40 min watch). 

• Jack Mallers, CEO of Strike, issues a scathing critique of people who are okay with a US reserve consisting of multiple cyptocurrencies and calls for integrity in Bitcoin advocacy (Mar 5 | 5:33 min watch). 

• Joe Lonsdale, Palantir co-founder, discusses the potential for a Bitcoin-only reserve, while questioning government's role in selecting winners and losers among various cryptocurrencies (Mar 5 | 0:39 min watch). 

• Ricardo Salinas Pliego, Mexico's third-wealthiest individual, reveals that Bitcoin comprises 70% of his personal holdings while Gold comprises 30%, calling Bitcoin the hardest asset in the world (Mar 5 | 2:04 min watch). 

• Matthew Kratter of Bitcoin University explores Bitcoin's diverse use cases, including monetizing stranded energy, serving as a hedge against inflation, enabling cheaper remittances, and empowering individuals in autocratic regimes or with hyperinflated currencies (Mar 6 | 8:24 min watch). 

• Joe Nakamoto, a Bitcoin content creator, explores Madeira to see if he can live exclusively on BTC, finding over 120 merchants accepting it, highlighting local businesses, community initiatives, and educational efforts to increase Bitcoin use and understanding on the island (Mar 6 | 19:59 min watch). 

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