ChainCatcher news, according to SoSovalue statistics, as of now, twenty state-level administrative regions in the United States are initiating relevant legislative procedures. Among them, fifteen states have had their bills formally received by the House and have entered the committee review stage, forming operational legal drafts. The Bitcoin Strategic Reserve Bill is creating a regional legislative wave in the U.S.Taking Utah as an example, Bill HB0230 will allow the state's four public funds (namely, the State Disaster Recovery Restricted Account, the General Fund Budget Reserve Account, the Income Tax Fund Budget Reserve Account, and the Medicaid Growth Reduction and Budget Stabilization Account) to invest up to 5% of their total assets in Bitcoin. According to the 2024 Utah financial report data, this means a potential purchasing power of over $70 million.SoSovalue analysts state that the Strategic Bitcoin Reserve Bill is not only a new breakthrough for Bitcoin in the traditional financial system but also a historic advancement. As more state governments explore similar strategies, the trend of public funds holding Bitcoin may reshape the global market's definition of Bitcoin as an asset, defining Bitcoin not just as digital gold, but as part of national and institutional asset allocation, further solidifying its position in the global financial system.

ChainCatcher news, according to Globenewswire, Canadian tech company Matador announced the acquisition of 3.38 BTC at a price of 500,000 CAD (347,022 USD), with an average price of 102,703 USD. Following this acquisition, Matador currently holds approximately 64.69 bitcoins (and bitcoin equivalents) and plans to acquire an additional 350,000 USD worth of bitcoin in the near future.In addition, Matador announced that it holds approximately 2.3 million CAD in cash reserves and 2 kilograms of physical gold (approximately 264,000 CAD), while also revealing plans to combine the tangible value of physical gold with bitcoin blockchain technology to launch a digital gold product in the first quarter of 2025.

ChainCatcher news, according to Morningstar, Edmund Moy, the senior IRA (Individual Retirement Account) strategist at the US Money Reserve, the main distributor of precious metals for the US federal government, stated that on the surface, Bitcoin could become a competitor to gold, as both are alternative assets that can help reduce risk in traditional portfolios. Cryptocurrency bulls have long touted Bitcoin as "digital gold," and Federal Reserve Chairman Powell recently remarked that Bitcoin is "like gold."Edmund Moy believes that their "differences outweigh their similarities," and that "the correlation between gold and Bitcoin is not strong." Given the uncertainty in the coming year, this may be the strongest reason for investors to hold both.Nevertheless, Edmund Moy stated that investors seeking to diversify their portfolios should remember that diversification alone cannot completely eliminate risk, especially considering the volatility of Bitcoin.

ChainCatcher news, Singaporean crypto investment firm QCP Capital stated today that earlier in the Asian session, Bitcoin surged past $106,500, reaching another milestone. In the past 12 hours, the total amount of short liquidations reached approximately $151 million, driving this rally, as the weekend market lacked liquidity and traders became overly complacent (the funding rate on Deribit briefly turned negative), leading to a squeeze on short positions in the market. The Bitcoin-to-gold ratio reached an all-time high during this wave, further highlighting Bitcoin's status as "digital gold" and solidifying its position as a more popular store of value than traditional gold.The inclusion of MicroStrategy in the Nasdaq 100 index further boosted market sentiment. Michael Saylor hinted that even if the spot price exceeds $100,000, the company may continue to purchase Bitcoin. This inclusion could attract passive capital into MicroStrategy's stock, thereby indirectly making it easier for the company to raise funds to buy Bitcoin. This week's Federal Reserve meeting seems to be merely background noise for Bitcoin, as its movements remain firmly driven by market sentiment. Although the likelihood is low, if the Federal Reserve and Powell take an extremely dovish stance, it could still provide support for further increases in Bitcoin.

ChainCatcher news, according to a post by Bitcoin Magazine on the X platform, the U.S. Department of the Treasury stated in a report that the primary use of Bitcoin in the decentralized finance (DeFi) space appears to be as a store of value, or "digital gold." However, the U.S. Treasury report cautioned that speculative interest seems to play a significant role in the growth of digital tokens.

ChainCatcher message, Federal Reserve Chairman Powell stated that Bitcoin is like gold, just in digital form. Bitcoin is used as a speculative asset; it is a competitor to gold, not a competitor to the dollar.

ChainCatcher news, Bitcoin custody company Casa co-founder Jameson Lopp stated on the X platform that Bitcoin is not just digital gold, nor is it merely an electronic currency; Bitcoin is a trust anchor that can serve as the foundation for building a multitude of rule-based verifiable systems.

ChainCatcher message, BlackRock CEO Larry Fink stated in an interview, "I was a proud skeptic, researching and learning about Bitcoin, believing it to be a legitimate financial instrument. Bitcoin is very useful when countries devalue their currencies due to excessive deficits. Bitcoin is digital gold."

ChainCatcher news, Bitwise CEO Hunter Horsley stated that the term "digital gold" limits Bitcoin's scope as an investment asset. Horsley mentioned that while the "digital gold" image is beneficial for Bitcoin, it has many qualities that surpass gold, and it is time to "move away" from this notion.

ChainCatcher news, BlackRock CEO Larry Fink stated in an interview: "If you are afraid of the government, or worried about the government devaluing currency, then you can see Bitcoin as a huge potential long-term store of value. It is like digital gold."He also mentioned, "Bitcoin is a ledger, but it is an international ledger that crosses borders. It is more powerful than any government. The emergence of Bitcoin ETFs is an example of how we are legitimizing this asset class."