Several Major Events
First is Coinbase joining the S&P 500. The S&P Dow Jones Indices announced that Coinbase (COIN) will replace Discover Financial Services in the S&P 500 before the market opens on May 19.
Approximately $4 trillion in passive index funds tracking the S&P 500 must buy COIN passively before it takes effect, which is a direct benefit for the stock price and liquidity.
Another point is that since the S&P 500's criteria include sustained profitability, scale, and liquidity, the inclusion of CB means that traditional capital markets have officially recognized the business model of crypto platforms.
The second event is Ukraine's establishment of a "National Bitcoin Reserve." Yaroslav Zheleznyak, the Deputy Chairman of the Finance Committee, confirmed that the draft bill for the national Bitcoin reserve has entered the legislative sprint phase.
The goal is to upgrade approximately 46,351 bitcoins (currently about $4.8 billion) from "wartime donation assets" to national strategic reserves, which essentially converts these bitcoins from a "for sale" status to a locked status, which is a positive development.
The third event is the backdoor listing of "American Bitcoin" (ABTC). American Bitcoin, in which Eric Trump and Donald Trump hold a 20% stake, will merge with Gryphon Digital Mining, with a launch expected on Nasdaq in Q3 under the ticker "ABTC."
The last major event is significant for 67495016968 holders, as BTCS has secured $57.8 million in financing led by ATW Partners, aimed at purchasing ETH, expanding validator nodes, and incorporating ETH into its strategic reserves.
Why is this important? You can think of BTCS as a substitute for MicroStrategy, akin to BTCS following the path of MicroStrategy's substantial BTC investments on a spiral upward trajectory.
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