Bitcoin News: How BIP-42 Saved Bitcoin’s Absolute Scarcity on Its 11th Anniversary

In the ever-evolving world of cryptocurrency, Bitcoin continues to stand the test of time, with its scarcity being a cornerstone of its value proposition. On its 11th anniversary, a key proposal known as BIP-42 played a pivotal role in ensuring the longevity of this feature, averting a potential supply crisis centuries into the future.

How Bitcoin’s Absolute Scarcity Was Saved on Its 11th Anniversary

Bitcoin has stood the test of time, unlike many human-made structures. On its 11th anniversary, we remember BIP-42, a proposal submitted by Pieter Wuille on April Fool’s Day 2014, which averted a potential supply crisis 240 years from now. Based on a solution proposed by Gregory Maxwell, BIP-42 ensured Bitcoin’s scarcity, a CORE feature intended to make it last far longer than bridges and dams. Subscribe to the Supply Shock newsletter for full editions.

Sen. Tuberville Revives Crypto Bill to Allow Bitcoin in Retirement Plans

Senator Tommy Tuberville (R-Ala.) voiced strong support for President Trump’s economic agenda, particularly its emphasis on deregulation and access to cryptocurrency. Tuberville spotlighted his “Freedom’s Act,” a policy that would allow Americans to invest their retirement funds in Bitcoin (BTC) and other altcoins. The Senator introduced his act in 2022 and 2023 but it failed to make notable progress. He hopes that with President Trump’s backing, his vision can become a reality, stating, “This would be something good for everybody… diversify. It’s a free country, do what you want with your money.”

Eric Trump Calls Bitcoin One of the Greatest Stores of Value

Eric Trump, son of United States President Donald Trump, has doubled down on his bullish stance on Bitcoin, stating that the digital asset is “one of the greatest stores of value” during an interview on Fox Business. The remarks come as the U.S. becomes increasingly pro-crypto under Trump’s administration. Eric Trump, who has been a “hard asset guy” all his life, mainly investing in real estate, noted that his perspective changed once he realized how powerful banks had misused their influence. He mentioned that banks have been politicizing their power to cancel and lock out individuals they disagreed with.

M2 Money Supply vs. Global Liquidity: Don’t Get Mistaken!

The crypto market shifts based on global money trends. A debate is confusing traders as different sources define M2 Money Supply and global liquidity differently, leading to mixed market signals. For Bitcoin (BTC), M2 Money Supply growth is a key factor in price movements. M2 measures available cash reserves, including cash deposits, checks, savings, market accounts, funds, and deposits of less than $100,000. Some traders see bullish signs, while others don’t, due to varying M2 measurements.

Tether’s Bitcoin Reserve Reaches 92,646 BTC After Major Purchase

Tether, the giant stablecoin issuer, has made a strategic acquisition of 735 million USD worth of Bitcoin, bringing its total Bitcoin reserves to 92,646 BTC or approximately 7.8 billion dollars. This acquisition marks a turning point for the company and places it among the largest holders of Bitcoin in the world. The move is seen as a way to strengthen its reserves and diversify its investments. The crypto markets often disappoint short-term traders, but for long-term holders (hodlers), it’s a different game, as they remain calm and patient amidst market fluctuations.