Will Switzerland Buy Bitcoin?
Giw Zanganeh, Vice President of Energy and Mining at Tether, and Yves Bennaïm, founder of the think tank 2B4CH, have announced a bold new idea: amending Switzerland's constitution to require the central bank to add Bitcoin (BTC) to its reserves.
Over the next 18 months, the initiative’s creators must collect 100,000 signatures from citizens to move forward.
“We’ve been waiting for the right moment. Now everything is falling into place, so we’ve filed the paperwork and will begin collecting signatures,” Bennaïm told Cointelegraph.
If successful, the central bank would be required to purchase BTC—even though the bank’s president recently expressed a negative opinion on Bitcoin.
Source: Cointelegraph
Will the Mining Market Move to the US in 2025?
Hive Digital, one of the largest Bitcoin mining firms, has announced plans to relocate its headquarters from Vancouver, Canada, to Texas, USA.
Why? The company believes that Donald Trump will create a "business-friendly environment" for mining in the United States. Texas also offers robust energy infrastructure and access to skilled professionals.
If the White House does indeed enact regulations favorable to the mining industry, more companies could follow suit.
Source: hivedigitaltechnologies.com
Ethereum Attracting Long-Term Holders?
Data from the analytics platform IntoTheBlock shows a growing number of long-term Ethereum (ETH) holders. The proportion of ETH “hodlers” has surpassed that of Bitcoin (BTC), with 75.06% of Ethereum investors holding long-term compared to Bitcoin’s 62%.
This trend suggests ETH could increase in value in the coming months, with the market viewing it as undervalued. Over the past year, Bitcoin’s price surged by 108%, while Ethereum’s grew by only 42%.
South Koreans Focus on Cryptocurrencies
South Korea's central bank, the Bank of Korea, recently released a report on cryptocurrency adoption. It revealed that over 15.5 million South Koreans now own digital assets, representing 30% of the country’s population.
Remarkably, the number of crypto investors grew significantly in the last quarter of 2024. In November alone, there was an increase of 610,000 investors compared to October. The total market capitalization of South Korea's crypto market hit 102.6 trillion KRW (approximately $77 billion USD), marking a 100% month-over-month increase.
The average crypto investor in South Korea holds 6.58 million KRW ($4,400 USD) worth of digital assets.
This surge comes as the government announced it would once again delay implementing a tax on profits earned from cryptocurrency trading.
Source: yna.co.kr