Texas established a strategic Bitcoin reserve with the new SB 21 law. Bitcoin management will diversify Texas's financial portfolio. Continue Reading: Texas Takes Bold Step with Strategic Bitcoin Reserve The post Texas Takes Bold Step with Strategic Bitcoin Reserve appeared first on COINTURK NEWS .
Texas has officially joined the small but growing list of U.S. states moving toward on-chain finance, passing a bill that protects Bitcoin reserves. Key Takeaways: Texas has become the first US state to launch a publicly funded, standalone Bitcoin reserve. Other states like Florida and Arizona have backed away from similar efforts. The move follows President Trump’s executive order to establish a federal strategic Bitcoin reserve. Governor Greg Abbott signed Senate Bill 21 into law on Saturday, establishing a state-funded Bitcoin reserve, the first of its kind in the country. Unlike similar initiatives in Arizona and New Hampshire, Texas is creating a standalone reserve fund entirely separate from the state treasury. Texas Taps Comptroller to Oversee New Bitcoin Fund The fund will be overseen by Texas Comptroller Glenn Hegar and aims to explore Bitcoin as a strategic asset class. “We can buy land, we can buy gold; I think the state of Texas should have the option of evaluating the best performing asset over the last 10 years,” said bill author Senator Charles Schwertner earlier this year. A companion bill, HB 4488, further shields the Bitcoin reserve from being raided during the state’s routine fund reallocations and secures its legal status regardless of when, or if, Bitcoin is purchased. JUST IN: Texas Governor Greg Abbott signs Bitcoin Reserve bill SB 21 into law. Texas is now the third state with a Bitcoin Reserve. pic.twitter.com/2JJOc7anf4 — Bitcoin Laws (@Bitcoin_Laws) June 21, 2025 Despite its potentially far-reaching implications, the initiative was left out of the governor’s list of top legislative priorities. Texas’ move comes as some US states abandon efforts to establish a strategic Bitcoin reserve. In May, Florida became the latest to drop crypto legislation , joining other states, including Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma. Likewise, Arizona’s House Bill 1025, which had advanced further than any other similar bill nationwide, was vetoed on May 3 by Governor Katie Hobbs. She called digital assets “untested investments,” effectively stopping the proposed Digital Assets Strategic Reserve Act in its tracks. The hesitance to embrace BTC comes amid concerns over its price volatility and long-term viability as a reserve asset. On the Federal front, President Donald Trump signed an executive order establishing a strategic Bitcoin reserve . Public Companies Embrace Bitcoin as Strategic Investment Meanwhile, public firms continue to embrace Bitcoin as a balance sheet hedge or strategic investment. Recent data shows 223 public companies now hold Bitcoin, up from 124 just days earlier. In total, more than 819,000 BTC, approximately 3.9% of the total supply, is currently held by public firms, according to BitcoinTreasuries.NET. MicroStrategy remains the largest corporate Bitcoin holder, with 580,250 BTC worth approximately $60.9 billion. Other major holders include Marathon Digital Holdings and Tesla, both with over $1 billion in Bitcoin. As reported, digital asset companies are flooding capital markets to raise funds for large-scale Bitcoin acquisitions , spurred by the cryptocurrency’s rally to a record $111,965 last week. The surge, up more than 50% from early April, has ignited a wave of listings and mergers as firms race to secure funding while investor appetite remains strong. The post Texas Launches State-Funded Bitcoin Reserve — What It Means for BTC Adoption? appeared first on Cryptonews .
Adam Back, CEO of Blockstream, has publicly endorsed Michael Saylor’s Bitcoin acquisition strategy, emphasizing its significant impact on corporate treasury management and Bitcoin market dynamics. Despite MicroStrategy’s success in accumulating
The SUI/USDT weekly chart is attracting attention as the price action tightens within a defined range. After a period of decline and consolidation , the asset is stabilizing, with key support levels holding firm. The structure suggests that the asset may be gearing up for a potential shift in trend. Price Action Coiling Up — Will SUI Snap Upward? SUI has formed a symmetrical triangle squeeze, a pattern known for preceding explosive moves. Its price recently dipped below the lower trendline, raising alarms for a potential breakdown. However, Atres Crypto Academy noted on X that this may have been a bull trap, a temporary shakeout before a sharp reversal. If SUI snaps back into the triangle with strong momentum, it would signal that the breakdown was a false move, and bulls may be regaining control. In that case, the stage would be for an upside breakou t, with the target set at $3.50 or more. SUI price action is forming a falling wedge pattern, a bullish reversal setup. After dropping 37% from its May highs, the altcoin is now testing a key support zone between $2.70 and $3.00, an area that has typically drawn buying interest. WEBBZ.SUI highlighted that a confirmed breakout could propel the token toward the $4.50 to $5.00 region, and if support fails to hold, the next critical level will be the $2.00 zone. According to Gemxbt, the 1-hour chart is showing a consolidation phase around the $2.85 level, with the price stabilizing above the 5, 10, and 20-hour moving averages, signaling strength and support in this zone. The Relative Strength Index (RSI) is also trending upward, steadily moving away from oversold territory. This suggests that bullish momentum is building . Furthermore, the Moving Average Convergence Divergence (MACD) is approaching a bullish crossover, indicating possible upward price movement if confirmed by increased volume. Signs Of Strength Emerging SUI has quietly surged from under $0.60 to over $4.00 in less than a year, making an impressive nearly 7x gain despite pullbacks. The price-performance underscores the growing interest and momentum behind the token. Emilio Crypto Bojan mentioned that the fundamentals are starting to catch up with the price action. DeFi aggregator volume has now surpassed $45 billion, with a 19% increase over the past 30 days, and bullish vibes are building ahead. SUI is showing signs of strength after holding the critical support zone at $2.70, suggesting that a potential bounce is building. Presently, the market structure shows that conditions are favorable for a reversal, provided the bulls step in decisively. Cult Babe also revealed that the price action appears to be preparing for an upward move, with the key focus of reclaiming the $2.90 resistance level.
Bitcoin (BTC) BTC rallied above $102,000 after briefly falling below $101,000 in a volatile session marked by unusually heavy trading, according to CoinDesk Research's technical analysis model. Market participants reacted swiftly to the dip, which pushed BTC near the bottom of its month-long trading range. The reversal gained momentum as volume accelerated, leading to a strong rebound. The move coincided with a sharply worded post from James Lavish, a Managing Partner of the Bitcoin Opportunity Fund, who wrote on X : “If you are selling Bitcoin because of the possibility of the world going to war, you have absolutely no idea what you own.” The $100K–$110K range has contained price movement for nearly a month. On-chain metrics suggest a balanced market with neither excessive profit-taking nor aggressive accumulation, while derivatives data indicates cautious sentiment with continued demand for downside protection. Technical Analysis Highlights A midnight push lifted BTC above $102,800 with trading volume peaking at 17,906 BTC. Between 05:57 and 06:00, BTC climbed from $102,767 to $102,912, supported by volume spikes over 150 BTC per minute. Peak recovery-period volume hit 184.24 BTC, helping drive price toward $102,990. Minute-level consolidation around $102,680–$102,720 preceded the breakout. A higher support level began forming near $102,870 as volatility decreased. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy .
Crypto bulls were blindsided Friday after the U.S. military launched airstrikes on Iran’s key nuclear sites, triggering a sharp selloff and $595 million in long-position liquidations. The move, announced by former President Donald Trump, saw bombers hit Fordow, Natanz, and Isfahan — three of Iran’s main uranium enrichment facilities. The geopolitical jolt rattled global markets and sent crypto into a tailspin on Sunday. In the past 24 hours, 172,853 traders were liquidated, with total losses hitting $681.8 million, meaning 87% of it was from longs. Ether (ETH) traders took the biggest hit with $282 million in liquidations, followed by bitcoin (BTC) tracked trades at $151 million.Futures tracking other majors, such as SOL, XRP, and DOGE also faced heavy losses, with at least over $22 million in losses.Liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).A cascade of liquidations often indicates market extremes, where a price reversal could be imminent as market sentiment overshoots in one direction. Prices briefly plunged before stabilizing. Bitcoin held near $102,000, while Ethereum traded just above $2,280, both down intraday but avoiding freefall. Bybit and Binance accounted for two-thirds of all liquidations. And with the U.S. threatening “far greater” strikes, traders are likely bracing for more volatility.
Trump went on national television Saturday night and demanded that Iran “make peace,” just two hours after the US military bombed three major Iranian nuclear sites. Speaking from the White House, Trump said any future strikes would be “far greater and a lot easier” if Iran retaliated. He gave no details about what kind of peace he expects or what Tehran would need to do. But the threat was clear: stop now, or get hit harder. According to reporting from Tasnim and other official statements, Iran didn’t wait long to respond, it launched missiles at Israel, officially escalating the fight. Trump had spent weeks saying he wanted a nuclear deal with Iran, even after Israel’s initial attack. He claimed Iran was open to it. But by Tuesday, his tone changed. First, he told reporters he didn’t want a ceasefire—he wanted “an end, a real end.” Hours later, on Truth Social, he posted “UNCONDITIONAL SURRENDER” in all caps. Two days later, he gave himself a two-week deadline to decide whether to launch a strike. He said there was still a “substantial chance” for diplomacy. By Saturday night, that chance was gone. US jets hit Iran’s Fordow, Natanz, and Isfahan sites, pulling American forces into another war in the Middle East. Crypto bounces after modest drop Bitcoin and other major cryptocurrencies dropped fast when the attack news hit. Within minutes, Bitcoin fell below $100,000, SOL hit $121, Ether dropped to $2,300, and XRP touched $2.09. But two hours later, prices had bounced back. Bitcoin was back above 102k, SOL rose over 130, and Ether and XRP held steady. The crypto market’s reaction was fast, chaotic, and short-lived. Investors didn’t wait to panic though at all. They bought the dip and moved on. Meanwhile, the Iranian foreign ministry called Trump’s strikes a “dangerous war against Iran.” In a statement carried by the semi-official Tasnim news agency, the government said the US had “betrayed diplomacy” and described Israel as “genocidal and lawless.” It said Trump’s actions violated international law and the UN Charter and warned of “grave consequences and dire repercussions.” They also said it was Iran’s “legitimate right to fully and resolutely resist” and defend its national interests “by all necessary means.” Iran called on the UN and the International Atomic Energy Agency to respond immediately. The government asked the UN Security Council to hold an emergency meeting. The statement urged international bodies to condemn what it called “a flagrant and criminal act of illegality.” Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
A Florida investor alleges he was defrauded of $860,000 by a Denver-based crypto trading school and a fake exchange promising lucrative trade signals. The lawsuit reveals how the Alpha Stock
The post Exclusive: How a 77-Year-Old Indian Brand is Betting Big on Bitcoin Despite Tough Taxes appeared first on Coinpedia Fintech News It’s not every day you hear about a 77-year-old Indian business shifting gears to embrace Bitcoin. But that’s exactly what Jetking, a name once known for making radios and televisions in India, has done. The company, which later moved into IT education, faced tough times during the COVID-19 pandemic. As the world shut down, Jetking’s 200 centers across India saw business dry up. Forced to rethink their future, the leadership explored around 15 different ideas to revive the company. In the end, they made a big move: to transform into a Bitcoin-centric company. In an interview with Coinpedia, CFO Siddarth Bharwani said, “Jetking’s decision to hold Bitcoin as a treasury asset has had both symbolic and financial implications, The move sparked interest from a new class of investors, particularly younger or tech-savvy retail investors.” The company is aiming to hold 210 Bitcoins by the end of 2025. Navigating India’s 30% Crypto Tax India’s strict 30% tax on crypto profits hasn’t made things easy. But Jetking has taken a different route. “We follow a ‘Never Sell Bitcoin’ strategy,” Bharwani explained. This means the company doesn’t realize profits on its Bitcoin holdings, avoiding taxable events. Any changes in value are simply noted as revaluation reserves in the financial reports. Handling RBI’s Crypto Concerns The Reserve Bank of India (RBI) has repeatedly raised concerns about crypto being used for illegal cross-border transfers, like hawala. Jetking says it takes these worries seriously and uses a compliance-first approach. All Bitcoin is bought via regulated, FIU-registered exchanges and stored with institutional-grade custodians that follow KYC and AML checks. Hopes for Better Crypto Laws in India As India works on a formal set of crypto rules, Jetking hopes for fairer regulations. The company supports government oversight but wants a shift from the flat 30% tax to a graded capital gains model based on how long crypto is held. “We expect shift from a flat 30% tax on gains to a graded capital gains tax model based on holding period. Enable carry-forward and offset of losses, as is the case with other financial assets and GST exemption or clarity when crypto is used purely as a treasury reserve, not as payment or service,” they said.
A crypto strategist known for nailing the 2022 Bitcoin bottom says that BTC may be on the verge of igniting a parabolic surge. In a new strategy session, pseudonymous analyst DonAlt tells his 66,600 YouTube subscribers that Bitcoin may be mirroring gold’s 2024 price action, when the precious metal struggled to clear resistance at $2,100 for multiple weeks before sparking a huge upside burst. According to the analyst, Bitcoin is likely consolidating below $110,000 to set the stage for a breakout and a parabolic rally to new all-time high prices. “Look at the $2,000-ish level [of gold]. This is the kind of asset we are now. If you expect anything else other than this, I think you’re just wrong… You see that breakout level that got tested four times, and you [had] false breakouts… I mean [gold] didn’t move for the longest time, and then it just went up only forever, which is kind of nuts to observe. But basically, I feel we’re that asset now, where you’re going to flirt with the same level like three or four times and people are going to lose all their money before it breaks out.” Source: DonAlt/YouTube At time of writing, gold is worth $3,368 while Bitcoin is trading for $102,114. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Analyst Sees Bitcoin (BTC) Mirroring Gold’s Parabolic Breakout of 2024 – Here’s His Outlook appeared first on The Daily Hodl .