HomeCryptoThe most relevant Bitcoin events of the week

The most relevant Bitcoin events of the week

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Take control of your Bitcoin investments by staying up to date with the latest news. Which will provide you with the necessary information to evaluate opportunities and make strategic decisions.

JPMorgan reveals it has positions in several Bitcoin ETFs

In a recent presentation Before the Securities and Exchange Commission (SEC), the largest bank in the United States, JPMorgan Chase, has disclosed its holdings in Bitcoin exchange-traded funds (ETFs), offered by Grayscale, ProShares, Bitwise, BlackRock and Fidelity.

Indeed, he indicated that he had approximately $760,000 in shares of the ProShares Bitcoin Strategy ETF (BITO), BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC), the Grayscale Bitcoin Trust (GBTC) and the Bitwise Bitcoin ETF. Likewise, the bank reported 25,021 shares valued at approximately $47,000 in Bitcoin Depot, a cryptocurrency ATM provider.

Interestingly, in an interview, Jamie Dimon, CEO of JPMorgan, said: «If you mean cryptocurrencies like Bitcoin, I have always said that it is a fraud».

El Salvador takes advantage of its volcanic geothermal potential to extract 474 Bitcoin since 2021

According to Reuters, the Bitcoin Office (ONBTC), an organization dedicated to managing everything related to crypto, reported that since 2021, El Salvador has added 473.5 BTC to its treasury using geothermal energy from the Tecapa volcanic complex.

Currently, the government has around 5,750 BTC, having added almost 474 Bitcoin since 2021 through this green mining methodology. In fact, the President, Nayib Bukele, has been a key driver of these mining operations.

However, despite the environmental benefits, El Salvador’s willingness to make Bitcoin legal tender, alongside the US dollar, has received criticism, especially from institutions such as the International Monetary Fund (IMF) and the World Bank. These criticisms focus on the high volatility of Bitcoin, considered one of the most volatile assets in the world.

Right to Bitcoin mining is now law in Oklahoma

The state of Oklahoma, in the United States, is positioning itself as a favorable destination for the crypto industry, thanks to a new law which offers extensive protections to Bitcoin miners and owners.

In this regard, Brian Hill, the sponsor of what was formerly known as House Bill 3594, stated: «This bill is tailor-made to attract more crypto businesses to Oklahoma».

Specifically, the law prohibits the Oklahoma government from imposing additional taxes, withholdings, assessments or fees on payments made with digital assets. Authorizes at-home digital asset mining, allows appeals for zoning changes related to digital asset operations, and directs the Oklahoma Corporation Commission to avoid creating discriminatory fees.

Hong Kong Bitcoin ETF has three straight days of exits

In Hong Kong, spot Bitcoin-based exchange-traded funds (ETFs) have had negative days. For example, on Monday they recorded a daily net outflow of more than $30 million.

Specifically, according to data, for three successive days, the flows of these investment instruments are presented with negative numbers. Unlike US ETFs, which saw positive numbers on Monday, Hong Kong ETFs saw outflows of $39 million.

What’s more, on Monday, the three ETFs managed by China Asset Management, Harvest Global, Bosera and HashKey, They recorded a combined daily net outflow of 519.5 BTC.

I say goodbye with this phrase from Cathie Wood: «Bitcoin is a new asset class that can provide a hedge against the devaluation of traditional fiat currencies».

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