Cryptocurrency

Ohio Introduces Bill to Create Bitcoin Reserve Fund

Wednesday. February 5 at 10:00 AM

1 min. read

Ohio Senator Sandra O’Brien has proposed Ohio Senate Bill 57, allowing the state to invest in Bitcoin to establish an 'Ohio Bitcoin Reserve Fund.' The bill mandates that BTC investments be held for at least 5 years and requires secure custody solutions. Senator O’Brien emphasized the importance of Ohio being a leader in the crypto world, especially with the potential impact of President Trump's crypto working group. The bill also stipulates that state entities must accept crypto for payments, with agencies converting it to Bitcoin for the reserve. Residents, agencies, and universities can donate BTC to the fund, with a recognition program for significant donors. Ohio is among several states considering similar bills, with Utah also exploring crypto investments. The move reflects a growing trend of states embracing cryptocurrencies for financial purposes.

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Bitcoin Miner Moves $5 Million BTC Earned When Price Was Just 10 Cents

Wednesday. February 5 at 12:00 PM

A Bitcoin wallet holding 50 BTC mined 15 years ago has been activated, transferring coins now valued at $5 million, originally worth $0.10 each. Bitcoin historian Pete Rizzo shared the wallet transaction, sparking discussions in the crypto community. Speculation arose linking it to Silk Road founder Ross Ulbricht, but attributing old Bitcoin movements to individuals without confirmation is speculative. The transaction utilized SegWit, Taproot, and RBF features, drawing community scrutiny. Analysis suggests the move was to safeguard quantum-vulnerable funds. This event highlights Bitcoin's evolution since its inception in 2009, when mining was possible with regular CPUs. The transaction, one of the largest movements of early-mined Bitcoin recently, showcases a significant ROI over 15 years. The future use of these funds remains uncertain, with challenges in converting them to fiat discreetly. This transaction adds to the trend of dormant Bitcoin wallets reactivating, with this one standing out for its technical complexity.

Cryptocurrency

Corporate Firm Semler Scientific Invests $88 Million in Bitcoin

Wednesday. February 5 at 11:00 AM

Healthcare technology and software company Semler Scientific recently announced its acquisition of over $88 million worth of Bitcoin in the past few weeks, resulting in a paper gain of more than 150%. The firm disclosed that it bought 871 Bitcoin between Jan. 11 and Feb. 3 for $88.5 million, with an average purchase price of $101,616 per BTC. Since adopting a Bitcoin treasury strategy, Semler has seen an aggregate yield of 152% from July 1 to Feb. 3, with a 22% yield this year. Currently holding 3,192 BTC acquired for $280 million, Semler's investment is valued at around $313 million at current market prices. The company financed its crypto investment through a senior convertible notes offering and monetization of a portion of its minority investment in Monarch Medical Technologies. Semler's commitment to growing its Bitcoin holdings aligns with its strategic focus on cryptocurrency investments, distinguishing it as the 10th-largest corporate holder of BTC according to Bitcoin Treasuries.

Cryptocurrency

Ohio Introduces Bill to Create Bitcoin Reserve Fund

Wednesday. February 5 at 10:00 AM

Cryptocurrency

Neptune Digital Assets Adds 20 Bitcoin to Holdings

Wednesday. February 5 at 8:00 AM

Neptune Digital Assets, a Canadian blockchain company, recently increased its Bitcoin holdings by 20 BTC. The publicly-traded firm, known for its Bitcoin mining, staking, and blockchain operations, disclosed the acquisition of these 20 BTC as part of its expanded Bitcoin strategy from January 26 to February 3, 2025. Neptune purchased the BTC at an average price of $99,833 per coin, amounting to a total expenditure of nearly $2 million. This acquisition boosted Neptune's total BTC holdings to 376 BTC. Additionally, the company also acquired 1 million Dogecoin on December 27, 2024, at an average price of $0.37 per token through a strategic derivative purchase. Neptune's CEO, Cale Moodie, emphasized the company's focus on BTC and strategic asset acquisitions while managing leverage risk effectively. Both Bitcoin and Dogecoin have witnessed significant price fluctuations recently, with BTC hovering around $99,400 and DOGE around $0.27 after experiencing a sell-off.

Cryptocurrency