US Greenlights Historic $100 Million Bitcoin-Backed Municipal Bond - First-Ever Approval Shakes Traditional Finance

Wall Street just got a crypto wake-up call that's rattling the marble halls of traditional finance.

The Regulatory Breakthrough

Federal regulators gave the thumbs-up to a $100 million municipal bond entirely backed by Bitcoin—marking the first time Uncle Sam has officially embraced cryptocurrency as legitimate collateral. This isn't some Silicon Valley experiment; it's mainstream adoption hitting government financing.

Market Implications

That $100 million vote of confidence sends shockwaves through both crypto and municipal bond markets. Suddenly, digital assets aren't just speculative toys—they're becoming recognized store-of-value instruments that can fund public infrastructure. Traditional bankers who've been dismissing Bitcoin as 'digital tulips' now face an uncomfortable reality check.

The New Collateral Frontier

Municipal bonds meeting Bitcoin creates a blueprint that other cities and states will inevitably copy. Why stick with conventional Treasury bonds when digital assets offer new liquidity options? Though let's be honest—watching bond traders explain Bitcoin volatility to city council members should provide endless entertainment.

This approval proves crypto's moving from fringe to fundamental—while traditional finance scrambles to keep up with technology it spent years dismissing.

TLDR

• Nvidia reported Q3 revenue of $57.01 billion, beating Wall Street estimates of $54.92 billion, with earnings per share of $1.30 versus expected $1.25
• The company forecast Q4 sales of about $65 billion, exceeding analyst expectations of $61.66 billion
• Data center revenue reached $51.2 billion, driven by strong demand for Blackwell chips, which CEO Jensen Huang said are selling at levels “off the charts”
• Net income jumped 65% to $31.91 billion compared to the same period last year
• Bitcoin climbed back above $90,000 and AI-focused crypto tokens rose 4-5% following the earnings announcement

Nvidia reported third-quarter results after market close on Wednesday that topped Wall Street expectations. The chipmaker posted revenue of $57.01 billion, beating estimates of $54.92 billion.

$NVDA (Nvidia) #earnings are out: pic.twitter.com/kbxWQUcnFA

— The Earnings Correspondent (@earnings_guy) November 19, 2025

Earnings per share came in at $1.30 adjusted. Analysts had expected $1.25.

The company’s net income ROSE 65% to $31.91 billion. That compares to $19.31 billion in the same quarter last year.

NVIDIA Corporation, NVDA

Shares rose more than 4% in extended trading following the announcement. The stock reaction helped push Bitcoin back above $90,000 after it had fallen near $88,000 earlier in the day.

CEO Jensen Huang addressed recent concerns about the AI sector. “There’s been a lot of talk about an AI bubble,” he told investors on the earnings call. “From our vantage point, we see something very different.”

The company’s forecast for the current quarter came in stronger than expected. Nvidia expects about $65 billion in sales for Q4. Analysts had projected $61.66 billion.

Data center sales drove most of the growth. The segment brought in $51.2 billion, surpassing analyst expectations of $49.09 billion. That represents a 66% increase from the prior year.

Blackwell Chips Drive Revenue Growth

Compute revenue, which includes GPU sales, totaled $43 billion. Much of that growth came from initial sales of GB300 chips.

Huang said sales for the Blackwell chip family are “off the charts.” Finance chief Colette Kress noted that Blackwell Ultra is now the company’s best-selling chip family.

Networking sales, which allow multiple GPUs to function as one system, accounted for $8.2 billion of data center revenue. Huang said “cloud GPUs are sold out,” easing concerns about demand from major cloud providers.

The CEO previously stated the company has $500 billion in orders for 2025 and 2026 combined. Kress added on the earnings call that “the number will grow.”

Gaming revenue reached $4.3 billion, up 30% year-over-year. Professional visualization sales hit $760 million, jumping 56% from last year. That segment includes the DGX Spark AI desktop computer announced earlier this year.

China Sales Face Headwinds

Automotive and robotics sales totaled $592 million, up 32% annually. The company highlighted robotics as a key growth area going forward.

Kress expressed disappointment about China shipments. The company cannot send current-generation Blackwell chips to China due to export restrictions. Sales of the H20 chip, which the company did receive export licenses for, only reached $50 million in the quarter.

“Sizable purchase orders never materialized in the quarter due to geopolitical issues and the increasingly competitive market in China,” Kress said. The company’s major customers include Microsoft, Amazon, Google, Oracle, and Meta.

These tech giants recently reported their quarterly results. Microsoft, Meta, Amazon, and Alphabet all increased their capital expenditure forecasts for AI infrastructure. The four companies now expect to spend more than $380 billion combined this year.

AI-focused crypto tokens responded positively to Nvidia’s results. Tokens rose 4-5% following the report. bitcoin mining stocks that have pivoted to AI infrastructure also gained, with some names up 6-11% in after-hours trading.

The company returned $12.5 billion to shareholders through stock buybacks. It paid $243 million in dividends during the quarter.