Everyone loves a one stop shop. Coinbits Plus is the first subscription service for managing your bitcoin and cash in one place. 

With Coinbits Plus, you get more bitcoin for your money thanks to no transaction fees and very low spreads, in addition to features like Spending Insights, Peer-to-Peer Payments, Connected Wallets, Auto Sends, Target Orders, and Priority Support. You will even gain access to our Private Coinbits Plus Community – all for less than a Netflix subscription.

Check out Coinbits Plus with a free trial now 👉 https://my.coinbits.app/subscriptions

BITCOIN BOX SCORE

Exchange Rate: $98,080
Market Capitalization: $1.94T
Hash Rate (90 days): 717.8 EH/s
Transactions (30 days): 14,045,457
Network Fees (economy): 2 sat/vB
Bitcoin Dominance: 58.18%

What do these numbers mean?

Although it dipped over the past few hours, bitcoin's fiat exchange rate hit new all-time highs again this week, continuing a streak of bullish news and momentum that almost feels routine.

What sets this bull market apart from past ones isn't just bitcoin breaking past the psychologically important barrier of $100,000 – it's the broader "crypto" market comparative underperformance. Competitors like Ethereum once touted as likely to "flip" bitcoin in market cap, or Solana, favored over bitcoin by disgraced fraudster Sam Bankman-Fried, have faded into the background as bitcoin steps into its role as the singular global monetary asset.

Fringe "alt seasons," which elevated dubious projects like Luna/Terra to multibillion market caps have given way to three distinct categories this cycle: Bitcoin as a dominant store of value increasingly adopted by institutions and even sovereign states; meme coins as openly high-risk degenerate trading gambles; and stablecoins as a technological bridge to the legacy dollar system.

The market's maturation reveals what bitcoin enthusiasts have said for years: Bitcoin competes with traditional financial assets and currencies, not altcoins. For example, in response to a question about a Strategic Bitcoin Reserve, Federal Reserve Chair Jerome Powell chose not to criticize bitcoin but said that the Fed is currently constrained from holding bitcoin on its balance sheet.

By not closing that door or taking the opportunity to criticize bitcoin, Powell invited lawmakers to open it wider – which would have seemed implausible just a year ago. Things are moving fast. What might bitcoin become just a few years from now?

NEWS

🚗 NYSE-listed automotive platform pivots to bitcoin mining in a big way

Cango, an NYSE listed (NYSE: CANG) Shanghai-based automotive transaction service provider, has quietly emerged as a major bitcoin miner after acquiring 32 EH/s of hashrate from Bitmain for $256 million. The firm’s November production of 393 BTC instantly positions it among the largest publicly traded bitcoin miners, just behind CleanSpark in deployed hashrate.

This shift highlights the industry’s evolving landscape, where traditional companies are embracing bitcoin strategies. With bitcoin near $100,000 and hashprice rebounding, mining’s profitability has also improved.

🏦 Ohio introduces bill for state bitcoin reserve

Ohio State Representative Derek Merrin introduced House Bill 703, called the Ohio Bitcoin Reserve Act, which would allow the state treasury to hold and purchase bitcoin. Citing the dollar’s devaluation, Merrin believes giving the state treasurer discretion over bitcoin allocations could preserve the value of public funds.

The proposal comes after similar moves in Pennsylvania and Texas and signals a growing trend of states exploring bitcoin reserves. While introduced late this legislative session, the bill sets the stage for more serious consideration in 2025 – especially as the incoming Trump administration and U.S. Senator Cynthia Lummis (R-Wyo.) push for bitcoin initiatives at the federal level.

🤝 El Salvador reaches a deal with IMF

El Salvador, the first country to adopt bitcoin as legal tender in 2021, will remove certain bitcoin mandates after reaching a multi-billion loan deal with the IMF. Most notably, merchants will no longer be legally required to accept bitcoin. While unenforced in practice, the mandate clashed with bitcoin’s ethos of voluntary adoption. The terms further stipulate that El Salvador must phase out its government-issued Chivo wallet app.

On the downside, citizens will lose the option to pay taxes in bitcoin, though this appears to be a minor inconvenience rather than a significant setback. Overall, the agreement creates a more even playing field, letting bitcoin stand on its own merits rather than rely on government mandates. The new policy environment remains broadly favorable, enabling El Salvador’s bitcoin ecosystem to continue evolving naturally.

A lingering question remains – Why did Bukele take the loan? For all of its successful policies of late, El Salvador still lacks capital to unlock its natural resources. Just a few weeks ago, Bukele announced that El Salvador had discovered over $3 trillion in unmined gold, over 8,000% of GDP. Although there has not been a public announcement tying the IMF loan to this recent discovery, the correlation is impossible to miss.

🚀 Bitcoin hits another all-time high as the Fed cuts rates

The Fed delivered its third consecutive rate cut, part of a clear turn toward accommodative policy. While stocks and bitcoin briefly dipped on inflation concerns, history shows that looser monetary conditions tend to boost bitcoin in the long run.

The Fed's actions are another factor in the broader environment that supports the potential for a rise in bitcoin's fiat exchange rate. Other factors include geopolitical tensions, government debt concerns, and a supportive regulatory environment.

BITCOIN ADOPTION CONTINUES

Foundation launches Passport Prime, a personal security platform combining robust bitcoin hardware wallet capabilities, multi-factor authentication, and secure file storage, paving the way for expanded third-party apps and a more integrated, secure digital life.

Gridless leverages bitcoin mining to electrify African rural communities, improve infrastructure, drive human flourishing, and prove that mining can profit and uplift local populations.

Hut 8’s $100 million bitcoin purchase pushes its total BTC holdings past $1 billion, reflecting accelerating institutional interest as the U.S. shifts toward a more bitcoin-friendly environment.

Chaincode Labs awards its inaugural Bitcoin Scholarship to 17-year-old Bitcoin Core contributor Ishaana Misra.

Grayscale’s low-fee bitcoin Mini Trust ETF passes $1 billion in net inflows, demonstrating strong institutional demand and growing confidence.

HOW BITCOIN WORKS

Learn one key idea about bitcoin each week. This week:

The Bitcoin Preference Cascade

Sometimes, individuals hide their true beliefs under social pressure, a phenomenon known as preference falsification. They pretend to agree with dominant narratives or prevailing trends, fearing the backlash of speaking candidly.

This concept, explored extensively by economist Timur Kuran, explains how societies can appear united behind certain ideas – until, suddenly, they don’t.

Such reversals often occur through what are called “preference cascades.”

For years, bitcoin was publicly dismissed by many who likely privately recognized its potential. Politicians derided it as a speculative bubble, businesses claimed it was too volatile, and the media seemed eager to highlight its alleged role in criminal activity. Even finance professionals who sensed bitcoin’s value hesitated to embrace it openly, unsure how clients or colleagues would react.

The environment changed as bitcoin’s price pushed beyond $100,000 and the United States elected a pro-Bitcoin president.

Major asset managers and global brands now frame bitcoin as a store of value, not a fad. Videos and research reports from the world’s largest financial institutions mirror key ideas from works like The Bitcoin Standard.

All of a sudden, speaking publicly about support for bitcoin is no longer socially costly.

This shift is a prime example of a preference cascade: Once reluctant to voice their pro-bitcoin stance, people found social permission to do so. The old taboos vanished, and what was once whispered privately is now proclaimed openly. The result is an accelerating wave of public acceptance, where each new endorsement encourages others to step forward, creating a virtuous cycle of honest expression.

When powerful social or institutional forces crowd out genuine opinions or disincentivize people from researching or exploring a topic more deeply, true sentiment can remain hidden. But once conditions change and individuals feel safe to explore what they think, a cascade ensues – transforming markets, policies, and the narratives that shape our world.

On The Bitcoin Standard Podcast, our own Dave Birnbaum talks about how Coinbits.app is using bitcoin to build an innovative operating system for money. Listen now: Spotify | YouTube | Apple | Fountain

SpotiaYMh47lLOrm9xu

COIN CHECK

What term is used to describe the practice of securing Bitcoin offline, without internet access, often via hardware devices or paper wallets, to protect against digital theft or hacking attempts?

1. Hot wallet

2. Multi sig

3. Cold storage

4. Encryption

Check your answer at the end of the page.

FROM THE MEME POOL

Follow us on Twitter for more fresh content

ANSWER

3. Cold storage

Was this email forwarded to you? Sign up here.