BTC Hits a New-All-Time High And the Tone Towards Bitcoin Is Changing Fast

While Bitcoin HODLers are still enjoying the benefits of the “Trump pump” from November, this month saw an increase in nation-state interest in Bitcoin, which helped to push the price of BTC above $108,300 for the first time in history. 

The U.S. is the first major global economy to announce the prospect of a strategic national Bitcoin reserve. But they weren’t the only ones. Russia and China also spoke positively about Bitcoin, and the race for nation-state Bitcoin adoption seems to be in full swing.

Oh, and we’ve got some exciting news at Samara Asset Group, with an update to our Nordic Bond and the amount of Bitcoin we’ve acquired. 

There’s a lot to talk about, so let’s go! 

We crossed the $100,000 mark! 🚀

In my last Proof of Words newsletter, I wrote about Bitcoin’s run since the U.S. elections. Make sure to read this one to get a lay of the land.

Almost the entirety of that price increase was due to Trump’s election victory or, as we like to call it, the “Trump pump.”

Things got even more interesting in the last two weeks when we saw the price of Bitcoin hit $100,000 - and stay there - for the first time in history! 

There is one major reason, next to the positive impact of Donald Trump, and that’s the topic of a strategic national Bitcoin reserve in the U.S. 

Throughout his campaign, Donald Trump was very vocal about Bitcoin and how the U.S. should embrace this opportunity and become a crypto powerhouse. 

One major step toward this goal is to use the BTC the U.S. government already confiscates—currently about 210,000 BTC—to reach at least 1,000,000 BTC within the next five years. 

That’s part of the strategic Bitcoin reserve bill introduced by Senator Cynthia Lummis, which I also covered in one of my latest Proof of Words newsletters. 

Such bullish news—you know, the biggest economy in the world casually mentioning a Bitcoin reserve—resulted in a lot of buying. 

$100,000+ per Bitcoin is a reality now; with it, this could start a new era for the most prominent cryptocurrency in the world. 

Russia and China are changing their tone towards Bitcoin 📈

Another net benefit of the U.S. strategic reserve announcement was that other major economies and countries started to express greater interest in Bitcoin. 

Russia and China have become key focus areas, as both countries either changed their tone on Bitcoin or came out in favor of their reserves. 

Russia’s president, Vladimir Putin, was vocal about the possibilities of Bitcoin and that no one can ban it in a recent interview at a state event. 

Russia, an energy-rich country, could expand its Bitcoin holdings further by mining Bitcoin on a state level. Furthermore, a Russian lawmaker proposed creating a strategic Bitcoin reserve and using Russia’s advantage in the energy markets to counteract the U.S.’s plans. 

All of these statements wouldn’t have been imaginable a few years ago, but in today’s climate, where nation-states are fighting for Bitcoin exposure, they’ve become a reality. 

It’s Bitcoin Game Theory at play. 

Next to Russia, China was also in the news with a major announcement regarding cryptocurrencies and their use as personal property. 

A Shanghai court has released an opinion stating that owning Bitcoin and other digital assets is not against Chinese law. In their eyes, cryptocurrencies have property attributes.

This is big news, as China has historically been quite anti-Bitcoin, at one point even forcing miners to leave the country. 

However, they seem to be changing their mind.

While the Chinese Communist Party (CCP) hasn’t officially announced a potential strategic reserve for Bitcoin, clarifying the legal framework for investors to hold Bitcoin is a big step in the right direction. 

Everyone is anticipating and waiting to see which nation-state will first move to buy Bitcoin for its reserves. Interest is definitely there; all it takes now is for the first domino to drop and get the ball rolling. 

Samara raised €20 million to buy more Bitcoin (and make more fund investments) 💪

Back in October, we at Samara Asset Group announced that we’re issuing a Nordic Bond to use the proceeds to increase our Bitcoin treasury and invest in more LP stakes in a range of funds.

And I have some exciting news to share!  

As of the publishing of this newsletter, we hold 540 BTC on our balance sheet, and our estimated net asset value (NAV) per share is €2.69, reflecting an estimated NAV of €246 million. 

The increase in NAV follows the successful issuance of the Nordic Bond, which raised €20 million. With the bond proceeds, we’ve also committed €10.8M to new ventures and alternative fund investments.

I am incredibly proud of my team and the hard work everyone has put into this. 

I’m also excited to be the first European firm to follow the MicroStrategy / Michael Saylor Playbook, issuing a bond to acquire Bitcoin. 

This is the very beginning of the bull market, not just for Bitcoin but for the global economy as a whole! I’m highly encouraged by the market signals we see in crypto and traditional markets. 

Make sure to follow Samara Asset Group on X and LinkedIn for further updates. We aim to get to 1,000 BTC within a year and are on track to reach this goal just in time. 

How cheap energy is fueling a revolution 🔋

It’s not a secret that Bitcoin mining uses a lot of energy. However, it’s a great resource to use excess or renewable energy and incentivize remote areas worldwide to mine Bitcoin. 

One of the most underrated countries in that regard is Ethiopia. 

I had the privilege of having Kal Kassa, an advisor for the Westdata Group, on the Proof of Words podcast to share his insight. 

Not only is Westdata Group’s mining efforts rapidly developing the country’s energy infrastructure by mining 0.7 BTC per day, but it’s also putting the country on the world stage of the energy markets. 

It was a pleasure to have Kal on and hear about the rapid growth in Ethiopia and the mining industry. Tune in here to watch the full episode!

Your fellow stacker in sats, 

Patrick Lowry