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Cryptocurrency News Articles

Bitcoin Adoption Surges Among Nations And Major Corporations

Dec 15, 2024 at 11:30 am

Hamada's proposal reflects a broader interest in diversifying national reserves with cryptocurrencies, particularly following recent discussions in the Japanese parliament about reserve movements in the US and other countries.

Bitcoin Adoption Surges Among Nations And Major Corporations

Japanese Lawmaker Pushes for Strategic Bitcoin Reserve amid Surging Institutional Interest

In a recent development, Japanese Member of Parliament Satoshi Hamada has called on his government to establish a Strategic Bitcoin Reserve, aligning Japan with a growing global trend where nations like the United States are exploring similar initiatives.

Hamada's proposal comes amid broader interest in diversifying national reserves with cryptocurrencies, especially following recent discussions in the Japanese parliament about reserve movements in the US and other countries.

This surge in interest follows Texas's significant legislative efforts, with the Texas House of Representatives introducing a bill to create a strategic Bitcoin reserve, led by Republican state Representative Giovanni Capriglione.

The proposed legislation would allow the state to accept taxes, fees, and donations in Bitcoin, with a commitment to hold these assets for a minimum of five years.

Capriglione, who announced the bill at an X Spaces event, highlighted the potential for such a reserve to enhance Texas's fiscal stability and strengthen its leadership in Bitcoin innovation.

“Probably the biggest enemy of our investments is inflation,” he said, adding that a strategic Bitcoin reserve could create a win-win scenario for the state.

The legislation, titled "An Act Relating to the Establishment of a Bitcoin Reserve within the State Treasury of Texas and the Management of Cryptocurrencies by Governmental Entities," reflects a broader trend of increasing institutional interest in Bitcoin as a strategic reserve asset.

This movement is not limited to nations; after President-elect Donald Trump's proposal for a US strategic Bitcoin reserve at the National Bitcoin Conference in Nashville earlier this year, there has been a marked increase in BTC adoption by various countries and private companies.

Bitcoinist reported that nine major firms from sectors like finance, healthcare, and artificial intelligence have adopted the market's leading cryptocurrency as a strategic reserve asset in the past month alone.

أكتوبر 2025 كأعلى نقطة رئيسية قادمة لسوق العملات الرقمية المشفرة BTC?

As these developments unfold, BTC has closed the week above the $100,000 mark, sparking speculation about its future trajectory.

Crypto analyst Ali Martinez points out that if Bitcoin follows historical trends observed in previous market cycles, the next market peak could occur in October 2024.

The analyst observes that in the last two cycles, it took approximately 1,065 days from the market bottom to the market top, while the duration from one market bottom to the next was around 1,430 days.

Martinez also identifies a critical support level for Bitcoin at $96,870, where roughly 1.45 million addresses accumulated around 1.42 million BTC. He adds that as long as this demand zone holds, there's a high probability that Bitcoin will continue its bullish momentum.

BTC trades at $101,477 at the time of writing, up 2% for the week after a brief consolidation period and a 7% drop towards $91,000.

DALL-E featured image, TradingView.com chart

News source:www.newsbtc.com

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