Welcome to our daily round-up of the most relevant news in the crypto world. Today, we delve into Senator Cynthia Lummis’ reintroduction of a strategic Bitcoin reserve bill, StarkWare’s establishment of its own Bitcoin treasury, and more exciting updates.
Senator Lummis is back with her strategic Bitcoin reserve bill, the “Boosting Innovation, Technology and Competitiveness through Optimized Investment Nationwide Act,” or BITCOIN Act. This legislation, which aligns with a recent executive order from President Trump, aims to establish a Strategic Bitcoin Reserve to fortify the American balance sheet. The bill had initially been proposed in July 2024 and has undergone minor alterations since. The plan includes the creation of a decentralized network of Bitcoin vaults managed by the U.S. Treasury and a program to acquire 1 million BTC over a predetermined period. This would approximate a 5% stake in the total Bitcoin supply, mirroring the amount of gold reserves held by the United States.
Blockchain scaling company StarkWare is also making waves in the crypto sphere by setting up its own “Strategic Bitcoin Reserve”. CEO and co-founder Eli Ben-Sasson did not disclose the exact amount of Bitcoin that the company holds or plans to acquire, but emphasized, “we put our money where our mouths are”. StarkWare, the main contributor to Ethereum’s Layer 2 Starknet, has in recent years increasingly invested time and resources into Bitcoin research.
Meanwhile, Crypto asset manager Bitwise has launched its Bitcoin Standard Corporations ETF (OWNB). This tracks companies holding at least 1,000 BTC in their treasury. Additionally, Cboe BZX Exchange has filed a form with the Securities and Exchange Commission seeking permission to allow staking in Fidelity’s spot Ethereum ETF (FETH).
Lastly, Taproot Wizards, the Bitcoin Ordinals project, is set to hold its first public sale of its Wizards NFT collection on March 25. The sale will include 2,121 NFTs, and will exclude 13 honorary Wizard images that resemble notable figures in the crypto world.
