Today’s issue is brought to you by Safe — the world’s leading smart account provider on EVM, securing $100B+ in assets (including Vitalik’s).

👉 Join their Telegram for exclusive alpha!

Telegram | Twitter | Community

⌐◪-◪ → There are now two competing Bitcoin Reserve bills!

The fight to make Trump’s Strategic Bitcoin Reserve law is heating up.

On one side, Sen. Cynthia Lummis’ Bitcoin Act proposes the U.S. buy 1M BTC over five years, using funds from reevaluating gold reserves. On the other, Rep. Byron Donalds’ Reserve and Stockpile Act is much simpler—it just codifies Trump’s executive order and doesn’t mandate any purchases.

Donalds' bill could be an easier political win—no forced spending, just a rubber stamp on what Trump already set in motion. But Lummis' bill is the one that actually accelerates Bitcoin accumulation at the federal level.

Which one will win out? The White House is reportedly pushing for some form of Bitcoin Reserve legislation, but they haven’t endorsed a specific bill yet. Given Trump’s stance, expect pressure to get something across the finish line.

One thing’s for sure: this isn’t a question of IF the U.S. will own Bitcoin, but HOW MUCH.

⌐◪-◪ → Goldman Sachs finally acknowledges crypto!

For the first time ever, Goldman Sachs mentioned crypto in its annual shareholder letter, marking a shift in TradFi’s relationship with digital assets.

In the letter, Goldman acknowledged that crypto and blockchain are legitimate financial competitors, citing the rise of digital asset trading and AI-powered finance. But they also threw in some classic TradFi fear, warning about cybersecurity risks and market volatility.

Despite this cautious stance, Goldman doubled down on Bitcoin ETFs last quarter, upping its holdings in BlackRock's IBIT by 88% and Fidelity’s FBTC by 105%, putting over $1.5B into Bitcoin ETFs.

Goldman’s CEO David Solomon has always been skeptical, calling BTC a "speculative asset" with no real use case. But actions speak louder than words—when a bank like Goldman is buying Bitcoin, it’s not just speculation anymore.

⌐◪-◪ → South Korea rejects Bitcoin reserves.

Not everyone’s following Trump’s lead—South Korea’s central bank just ruled out Bitcoin as a reserve asset.

The Bank of Korea (BOK) says Bitcoin doesn’t meet the IMF’s criteria for foreign reserves, citing its volatility and lack of liquidity. They’re worried that BTC can’t be easily converted to cash without spiking transaction costs.

This follows recent discussions in Korea’s parliament about adding BTC to national reserves—so despite the rejection, the conversation is gaining traction.

Other Asian nations are also weighing the idea. Japan’s PM has raised concerns, but lawmakers there are pushing for a Bitcoin allocation.

Meanwhile, Trump’s Bitcoin Reserve plan has set a new standard, and more countries are being forced to address the question—even if, for now, they’re saying no.

Bitcoin as a national reserve asset is no longer a fringe idea. South Korea might be saying no today, but the conversation isn’t going anywhere.

The Bitcoin standard is happening — first corps, then banks, then states, then nations. You are probably underexposed.

Join Our Community!

Designed to make you a better crypto investor, builder, and operator.

💬 Chat with Valko and other experts
📚 Access additional hand-curated resources
😊 Make friends, share memes, have fun