Although Japan only has 20k–40k active BTC addresses daily, its huge household wealth could flow in via ETFs and regulated funds.
Japan has officially finalized amendments to its crypto regulatory framework that have the potential to increase global Bitcoin demand.
The reforms aim to clarify custodial liability, stimulate institutional participation, and position the country as a safe haven for digital assets.
Reform Could Boost Bitcoin Demand
According to crypto research and education institution XWIN Research Japan, the Financial Services Agency (FSA) has completed its 2025 Working Group on crypto-asset reform, outlining a redesign of the country’s rules. Central to this effort is the transition from the Payment Services Act to the Financial Instruments and Exchange Act, which will provide stronger investor safeguarding.
Notably, the country’s on-chain activity remains limited, with only 20,000 to 40,000 unique active Bitcoin addresses each day compared with a global range of 450,000 to 800,000. This means that it only contributes a small share to global on-chain demand.
However, the report noted that this view is incomplete because Japan holds one of the largest pools of household wealth in the world, which, if allowed to participate through ETFs, regulated funds, or other institutional products, could see the country become a big source for new demand.
“With increased credibility and easier access for large asset managers, Japan may ultimately exert measurable upward pressure on Bitcoin’s long-term supply-demand dynamics,” wrote the market watchers.
Japan Tightens Crypto Rules
The Asian economic powerhouse’s new regulatory approach focuses on protecting investors, recognizing that crypto has become a mainstream investment even as fraud, unregistered platforms, and information gaps continue to grow.
The changes will introduce new measures, including clear disclosures, rules against unfair trading, explanations of issuer risks, stronger security, and closer supervision of business conduct. The FSA plans to take more action against unregistered overseas services and is considering creating a separate category for decentralized exchanges.
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It is also preparing rules that would require local digital asset exchanges to keep liability reserves to safeguard users from hacks and other operational problems, according to Nikkei. The agency will submit the amendments to parliament in 2026 and is also expected to classify cryptocurrencies as securities under the Financial Instruments and Exchange Act.
If approved, crypto platforms would face bans on insider trading, stricter custody audits, and wider disclosure requirements, bringing crypto rules closer to those applied to traditional financial firms.
These reforms are Japan’s first major step toward creating a transparent, secure, and institution-friendly crypto market. The announcement also comes weeks after reports that the FSA is considering allowing banks to hold and trade digital assets like Bitcoin.
CryptoQuant predicts that the steps being taken could put positive pressure on Bitcoin’s long-term supply and demand.
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The bond lets companies borrow against Bitcoin held by a private custodian, unlocking capital without selling crypto or triggering taxes.
The state of New Hampshire has approved the first municipal debt instrument in the United States to be backed by Bitcoin (BTC).
Industry observers believe the move could open the door for digital assets to enter the global debt market, which is valued at about $140 trillion.
$100M Bitcoin-Backed Financing
According to journalist Eleanor Terret, the state’s Business Finance Authority (BFA) greenlighted a $100 million BTC-secured bond on Monday. The initiative allows companies to borrow money using over-collateralized BTC held by a private custodian. The security is also structured as a conduit, meaning it does not rely on taxpayer money or carry any state financial guarantees.
Designed by Wave Digital Assets and Rosemawr Management, the offering requires borrowers to post roughly 160% of its value in the flagship cryptocurrency as collateral. A safeguard has also been put in place to protect investors should the price fall below 130%.
This allows participants to unlock capital without selling their cryptocurrency or creating a taxable event. Meanwhile, the transaction fees and earnings will be used to support the area’s Bitcoin Economic Development Fund.
The move comes just months after New Hampshire became the first state to allow its treasury to invest up to 5% of public funds in digital assets. Governor Kelly Ayotte, who signed the bill into law in May, said, “I am proud that New Hampshire is once again first in the nation to embrace new technologies with this historic Bitcoin-backed bond.”
Les Borsai, co-founder of Wave, said that their goal was to bridge traditional fixed income with digital assets in a way that is fully institutional, fully compliant, and globally scalable. Furthermore, Republican legislator Keith Ammon, who introduced the Granite State’s Strategic Bitcoin Reserve bill, described the initiative as a test for using the asset as high-quality collateral in government finance.
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Bitcoin Bond Could Tap $140 Trillion Debt Market
The approval of this crypto-backed note has wider implications for the global debt market, valued at roughly $140 trillion, with the U.S. making up around $58.2 trillion of this.
Digital asset-backed lending has existed in private markets for years, but never in U.S. municipal finance. Les Borsai explained that the development shows how public and private sectors can responsibly unlock the value of cryptocurrencies.
Currently, many crypto reserves sit idle, but this structure shows how they can generate yield, support loans, and fund economic projects.
By creating a regulated framework for using digital reserves as collateral, New Hampshire’s model could provide a blueprint for other regions and further encourage institutional investors to explore these financing instruments.
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India leads for the third year, while US crypto activity jumps 50% to $1 trillion.
India and the United States are leading global cryptocurrency adoption between January and July 2025. According to the TRM Labs’ Country Crypto Adoption Index 2025, India retained its top position for the third consecutive year, while the United States held its second-place ranking.
Both countries have demonstrated significant momentum so far this year, driven by expanding retail participation, institutional engagement, and evolving regulatory environments.
Who’s Winning the Adoption Game
TRM Labs found that India’s continued lead reflects its expanding base of crypto users and developers, as well as its rising interest among both retail and institutional investors. Between January and July 2025, India’s position at the top of the index remained unchanged from 2024. Its analysis attributes this to India’s large and youthful population, increasing crypto literacy, and growing engagement from middle-class investors seeking alternative assets.
The country’s crypto ecosystem has also benefited from an expanding developer community and broader digital payments infrastructure, which have supported transaction activity tied to remittances, payments, and value preservation.
Alongside India, the United States continued to show strong growth in transaction activity. The blockchain intelligence platform reported that between January and July 2025, crypto transaction volume in the US increased by approximately 50% compared with the same period in 2024, surpassing $1 trillion.
This growth builds on a similar 50% year-over-year increase recorded in 2024, which confirms that the expansion represents a steady, multi-year trend. The United States remained the largest crypto market in absolute terms, which is measured by transaction volume, as both institutional and retail adoption advanced through 2025.
The report also observed that this acceleration in US crypto activity occurred amid an evolving political and regulatory backdrop. A series of legislative and administrative developments has shaped the landscape since late 2024. Following President Donald Trump’s election in November 2024, crypto-related engagement in the country rose markedly, and TRM data showed a 30% increase in web traffic to virtual asset service providers during the six months after the election.
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99% of Stablecoin Activity Is Legit
Stablecoins are playing an expanding role in global crypto adoption. In fact, the firm reported that stablecoins accounted for 30% of global crypto transaction volume between the same period. Data indicates that over 90% of fiat-backed stablecoins are pegged to the US dollar, while Tether (USDT) and Circle (USDC) together represent 93% of the total stablecoin market capitalization.
TRM Labs further found that stablecoin transaction volumes reached a record high in 2025, as the figure increased 83% year-over-year between July 2024 and July 2025 to exceed $4 trillion from January through July 2025. Over the same period, leading stablecoins increased their overall market share by 52%.
While TRM assesses that 99% of stablecoin activity is legitimate, the report noted that 60% of all illicit crypto transactions in Q1 2025 involved stablecoins, which may have been due to their low fees, transaction speed, and wide availability on open blockchains such as Tron and Ethereum.
Investment fraud accounted for the largest share of illicit volume growth across the broader ecosystem, while sanctions-related activity declined within major stablecoins by $5.2 billion, even as extortion and blackmail-related transactions surged 380% year-over-year between January and July 2025.
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MENA crypto markets show diverse adoption narratives – retail-driven in Israel, institutional-led in Turkey and UAE, and resilient yet isolated in Iran.
Israel’s cryptocurrency economy has experienced significant growth, particularly following the national crisis triggered by the October 7, 2023, attacks, according to a recent Chainalysis report.
From 2024 to 2025, the country saw crypto inflows surpassing $713 billion in a steady expansion in line with prior trends. Before the attacks, transaction volumes in Israel closely matched expected activity, with deviations averaging just -0.3%. Following the attacks, however, volumes consistently exceeded forecasts and averaged $0.66 billion more per month than predicted.
Israel’s Retail Crypto Activity Explodes
Overall, actual activity surpassed anticipated levels by 60.4% on average, demonstrating a constant increase rather than a temporary surge in response to crisis conditions. This pattern has continued through 2024 and into 2025, in what Chainalysis has deemed to be a lasting behavioral shift among Israeli crypto users and positioning digital assets as a financial refuge during periods of national uncertainty.
The blockchain data platform noted that similar trends have been observed in other countries facing crises, such as Ukraine and Iran, where crypto adoption spiked in response to geopolitical disruptions.
Analysis by transfer size indicates that this growth is largely retail-driven. Small transfers of under $1,000 and mid-range transfers between $1,000 and $10,000 show the most significant spikes. Small retail transfers reached nearly six times their January 2022 baseline in early 2025, while mid-range retail activity grew roughly four to five times over the same period.
Institutional and professional transaction segments also increased, but at a comparatively restrained rate. The retail-led nature of this growth is similar to patterns seen in other regions affected by conflict or economic stress, as individual citizens turned to cryptocurrencies as alternative financial tools.
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Zooming Out: MENA Region
Besides Israel, the MENA region’s major crypto markets present three distinct narratives of adoption. Turkey, for one, has seen crypto inflows soar to roughly $878 billion by mid-2025, as it outpaced all regional markets despite ongoing currency devaluation and inflation. While institutional adoption has remained strong, retail participation has contracted sharply as small and large retail transactions declined by 2.3% and 1.6%, respectively, and professional trader growth dropped nearly 90%.
This divergence reflects affordability challenges, tighter regulations from 2024, and evolving market behavior. Simultaneously, speculative altcoin trading surged from $50 million to over $240 million by mid-2025, which could mean that remaining participants are seeking higher yields amid economic pressures.
Meanwhile, the UAE’s crypto economy expanded by 33% between 2024 and 2025 as it received over $56 billion in inflows. Growth is primarily driven by large institutional transactions, which increased 54.7%, and institutional transfers, up 37.2%. Merchant services, however, saw substantial retail adoption, as seen with small retail transfers (<$1,000), which grew 88.1%, large retail transfers 83.6%, and professional transfers 79.5%.
This indicates a divergence between general crypto usage and commercial applications, as the UAE appears to be quietly emerging as a regulated crypto hub where institutional adoption coexists with expanding everyday transactional use.
Iran’s crypto ecosystem also continued expanding, despite sanctions, economic pressures, and growing isolation from global exchanges, with mid-2025 volumes up 11.8% from 2024. Local exchanges dominate the market: Nobitex.ir accounts for 54.2% of inflows. The sector endured challenges, including a $90 million Nobitex hack in early 2025, but overall growth remained stable.
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CoinLaw found that RippleNet processes more than $15 billion monthly in cross‑border transactions in 2025.
Blockchain technology has rapidly matured into a key pillar of global finance, with cross-border payments emerging as one of its most cornerstone applications, according to a new report by CoinLaw.
The study found that blockchain-based cross-border payments have grown at an annual rate of 45% over the past decade and are projected to reach $3 trillion in 2025.
Blockchain Cuts Costs, Accelerates Payments
The average transaction fees on blockchain networks have fallen by 70%-80% compared to traditional payment channels, while processing times have shrunk to just 3-10 seconds, compared with the 2-5 days typical of legacy systems. RippleNet alone now processes more than $15 billion in cross-border transfers every month.
Meanwhile, over 120 countries are actively developing central bank digital currencies (CBDCs) to streamline international transactions. CoinLaw also found that nearly 40% of global remittance firms now rely on blockchain solutions. Interestingly, Africa is witnessing a 60% surge in adoption amid rising demand for affordable, efficient remittance infrastructure.
The study also found that around 85% of US banks are either piloting or fully integrating blockchain-based solutions into their payment systems. The Asia-Pacific region leads globally in this aspect, with 60% of financial institutions using blockchain, followed by 55% in North America and 50% in Europe.
Visa and Mastercard have reportedly processed over $5 billion in cryptocurrency transactions this year through partnerships with blockchain startups. The report also noted that blockchain-based cross-border payments have expanded at an annual rate of 45% and are projected to reach $3 trillion in 2025.
Insurance companies have increased blockchain usage to 35% for faster claims processing, up from 18% in 2022. Additionally, banks are saving up to 35% on operational costs by eliminating intermediaries and reducing fraud, and the average transaction speed is down to 10 minutes from over 10 minutes five years ago.
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Inflation Drives Massive Crypto Adoption
El Salvador has seen about 35% of its population using crypto wallets since Bitcoin became legal tender. Nigeria leads Africa’s peer-to-peer trading activity, as it accounts for 45% of the continent’s total crypto transactions.
Meanwhile, Argentina and Turkey have recorded a 60% surge in adoption this year as a result of persistent inflation and currency instability.
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Sora Ventures has announced the launch of Asia’s first Bitcoin treasury fund during Taipei Blockchain Week.
Backed by a $200 million commitment from regional partners and investors, the fund aims to acquire $1 billion worth of Bitcoin over the next six months.
BTC Treasury Fund
Unlike existing individual treasury firms in Asia, such as Japan’s Metaplanet, Hong Kong’s Moon Inc., Thailand’s DV8, and South Korea’s BitPlanet, which hold Bitcoin directly on their own balance sheets, the Sora Ventures fund will serve as a centralized pool of institutional capital. The main objective of the company is to support these existing firms while also encouraging the development of new BTC treasuries worldwide.
In its official press release, Sora Ventures also said that the fund will focus on creating “synergies between regional and international treasuries” to strengthen BTC’s role as a reserve asset across markets.
Sora Ventures’ management team has been tasked with guiding the fund and bringing in new institutional investors and collaborators to strengthen Asia’s Bitcoin treasury network. The initiative will help connect existing and emerging treasury firms, increase available capital, and foster a more integrated ecosystem for corporate BTC holdings across the region.
Asia in Bitcoin Big League
While the largest Bitcoin treasuries and corporate adoption have historically been US-centric, Asia is now stepping up as a major player in institutional Bitcoin markets. On that aspect, Sora Ventures founder and Managing Partner Jason Fang commented,
“Asia has been one of the most important markets for the development of blockchain technology and Bitcoin. We have seen a rise in interest from institutions investing in Bitcoin treasuries in the U.S. and EU, while in Asia, efforts have been relatively fragmented. This is the first time in history that institutional money has come together, from local to regional, and now to a global stage.”
Metaplanet continues to lead as Asia’s largest corporate Bitcoin holder, as it recently added 1,009 BTC to reach a total of 20,000 BTC. Meanwhile, another Asian player, Taiwan-listed WiseLink, became the first company in the country to adopt a Bitcoin Treasury Strategy.
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India has again ranked as the leading country with local investors adopting crypto. The latest metric comes despite the government’s continuous efforts to discourage digital asset adoption.
According to Chainalysis’ latest research, seen by CryptoPotato, India also led last year’s Crypto Adoption Index.
India Leads Crypto Adoption
The study ranked global countries based on their engagements with centralized services, retail centralized services, decentralized finance (DeFi) services, and retail DeFi services. Unlike the 2023 metrics, this year’s record excluded the Peer-to-peer (P2P) exchange volume, citing “a substantial decrease in activity” in various regions. LocalBitcoins.com, a notable P2P exchange, halted operations last year, triggering the performance drop.
India saw the most interaction with centralized crypto entities. However, it ranked second and third in retail DeFi operations and DeFi services. The latter metric is a decrease from the country’s leading position in the past year.
By maintaining its leading position, investors in the Asian country demonstrate their commitment to boosting crypto adoption despite the government’s stringent stance on crypto assets. A recent report confirmed that the Indian finance minister upholds a 1% tax deducted at source (TDS) rate on crypto trades and a 30% income taxation on crypto profits.
Looking forward, it remains uncertain if the Indian crypto market will maintain its leading position from next year due to the severity of a recent $230 million hack of a local crypto exchange, WazirX. Public data shows that 4.2 million Indians incurred substantial losses from the exchange’s breach.
CSAO Captures $750B in Crypto Inflow
Chainalysis research revealed that seven of the top 20 countries belong to Central and Southern Asia and Oceania (CSAO), a slight increase from last year’s record. These countries include India, Indonesia, Vietnam, the Philippines, and Pakistan.
Between July 2023 and June 2024, CSAO locked in $750 billion in crypto assets inflow, representing 16.6% of the market share. This Index cements CSAO’s third position among leading regions adopting crypto.
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The eagerly anticipated Hong Kong Bitcoin ETF market is scheduled to commence trading on Tuesday, marking a significant milestone in the increasing adoption of the leading cryptocurrency and building upon the success of the US ETF market.
With their approval, the newly regulated index funds are poised for a noteworthy debut, surpassing the first-day inflows in the United States.
HK Bitcoin ETF Market Poised For Record-Breaking Debut
Zhu Haokang, the Digital Asset Management Supervisor and Family Wealth Supervisor at Warsaw Fund expressed great confidence in the trading volume of Hong Kong Bitcoin ETFs on its inaugural day.
This volume exceeded the scale achieved during the US launch on January 10th of this year, which amounted to over 125 million US dollars.
Haokang further stated that Huaxia, one of the three ETF issuers, is confident in becoming the largest ETF issuer on the first day of trading. At the same time, OSL, a digital asset platform, has already completed the initial fundraising with two funds, including Huaxia.
Furthermore, the capital inflow during the Hong Kong spot Bitcoin ETF’s first-day listing transaction has surpassed that of the US spot ETF market.
According to Haokang, this difference can be attributed to two factors: the purchase and redemption of spot and in-kind transactions, which are unavailable in the US spot Bitcoin ETF.
Unprecedented Investment Options
One unique aspect of the China Summer Fund’s Hong Kong spot ETF is its incorporation of Hong Kong dollars, US dollars, and dual counter offers (RMB counters), distinguishing it from the other two offerings.
Additionally, the fund features a non-listed share alongside the listed share, further setting it apart from its counterparts. Given the physical purchase method, investors, including Bitcoin miners, can directly acquire the Hong Kong virtual asset spot ETF using the Bitcoin they already hold.
Moreover, outreach efforts have reportedly been made to attract investors from countries and regions without ETF offerings, such as Singapore and the Middle East, generating significant interest.
Despite the substantial market size of the current US spot Bitcoin ETF market, Hong Kong’s utilization of cash and in-kind subscriptions, coupled with the appeal of open trading during Asian market hours, is expected to attract numerous American investors, according to Haokang.
Mainland Chinese Investors Restricted
Wayne Huang, OSL ETF and Trusteeship Business Manager, highlighted that Victory Securities could facilitate physical purchases, and the winning securities in China can also leverage OSL’s support.
Three vouchers enable physical purchases, with more expected to follow suit. Following the ETF’s listing, various voucher chambers of commerce are likely to participate, increasing the overall ecosystem of the Bitcoin ETF market in May.
On the other hand, Zhu Haokang also clarified that mainland Chinese investors are currently restricted from investing in Hong Kong’s spot ETF market. However, qualified investors, institutional investors, retail investors, and qualified international investors in Hong Kong can participate in the spot ETF race.
Individuals seeking further details are advised to consult voucher providers and sales channels while closely monitoring potential regulatory adjustments and the development of a specific regulatory framework in the future.
Currently, BTC is trading at $63,000 after failing to consolidate above the key $66,000 level in recent days. However, the launch of the ETF market in Hong Kong is expected to significantly impact the price of BTC in the long run.
Featured image from Shutterstock, chart from TradingView.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
The markets are rallying exuberantly for BTC for a couple of reasons this March.
Institutional investors bought deep after the SEC opened up Wall Street access to Bitcoin price exposure through custodial spot ETFs. That only adds to the scarcity shock with the supply halving coming up next month.
However, many blockchain crypto trading strategists think it is hard to overstate the importance of the ETF approvals by the Securities and Exchange Commission. The new paradigm does not merely allow regulated investors to do so.
It caps off a year of incredibly welcoming and accommodating policies for Bitcoin and cryptocurrencies in United States courtrooms and legislatures. The risk of the U.S. passing onerous regulations has long been an important headwind for Bitcoin prices in the market.
As a result of the SEC approving Bitcoin ETFs, that threat is vastly diminished. Instead, you can now buy some of the base layer blockchain cryptocurrency on Wall Street from the same place you can buy a company share of Coca-Cola or Chevrolet.
But it’s not just a party in the USA for Bitcoin this year. Here are seven signals that Bitcoin is still rocking the world outside the United States in 2024.
1. Kimchi Premium Tops 2-Yr High
The kimchi premium, the amount that Koreans pay above the global average prices for Bitcoin at exchange, rose to a 27-month high of 10.32% on Mar. 6, signaling a surge in demand for BTC from South Koreans.
Crypto traders and saver-investors in South Korea pay higher prices for Bitcoin than most of the world because strict local capital controls create an ongoing shortage of BTC in the East Asian peninsula nation. It’s named the kimchi premium after the signature Korean spicy cabbage dish.
2. El Salvador Holdings Up 50%
The Latin American nation of El Salvador has profited from its government’s investment in Bitcoin to hold in its national treasury. The Central American nation purchased its 2,380 Bitcoins at an average price of $44,300. Meanwhile, the total investment of $105 million is up over 50% and is worth some $166 million today.
The nation of El Salvador overwhelmingly reelected President Nayib Bukele for another term based on the popularity of his crime-reduction policies and forward-thinking about the world. Bukele took the initiative starting in 2021 to officially adopt Bitcoin as a government-approved legal tender.
3. Nigerians and Venezuelans Save in Bitcoin
The Atlanta, Georgia non-profit Foundation for Economic Education (FEE) recently reported that Nigeria is following Venezuela’s trend of over-indexing on Bitcoin adoption to use the secure, inflation-resistant cryptocurrency as a shelter for their savings from catastrophic hyper-inflation in the Nigerian Naira and Venezeulan Bolívar.
Both nations have economies that rely heavily on crude oil exports. Combined with severe mismanagement of the financial system by the governments in both countries for decades, periods of high inflation in U.S. dollars stoke hyperinflation in these vassals of the global petro-dollar economy. Bitcoin has given people who live there a way to keep their savings from turning into mice and pumpkins after the central banks have a ball with the printing press.
Right-wingers like President Bukele enthusiastically support Bitcoin because it could out-compete the currencies of several left-wing nations like Venezuela and Nigeria. But left-wingers may one day begin to adopt Bitcoin with the moral fervor of their counterparts in order to help people in developing economies find a way to save their money.
4. Japan Investment Funds to Hodl
It looks like Japan is clearing the way to allow private venture capital firms to hold Bitcoin. Japanese Prime Minister Fumio Kishida’s administration agreed in February to submit a bill to the government with the changes added to an earlier version his cabinet had approved.
The text of the bill says that “measures will be taken to add cryptoassets to the list of assets that can be acquired and held by investment limited partnerships.” Kishida’s economic agenda to grow Japan’s GDP includes embracing Web 3.0 technologies and easing some of the nation’s restrictions on cryptocurrencies.
5. German Regulated Spot Platform Launches
Germany is the largest economy in Europe in terms of gross domestic product. It just got a new regulated spot crypto platform launched by a domestic capital market firm. German bank Deutsche Boerse announced on Mar. 5 that it had launched a government-regulated cryptocurrency exchange for crypto investors.
The German capital market company announced plans for the exchange last year. It received licenses in February from local regulators. German banking giant DZ Bank announced in February that it will launch a crypto trading service in 2024.
A survey in July 2023 found that 50% of Germans view cryptocurrency favorably as a long-term investment. Meanwhile, 22% suspect it could make them rich overnight.
6. Coinbase Moves to France
While Germans celebrate a new exchange with a schnitzel and a Fanta, the French will soon be able to log in to Coinbase to trade crypto. The San Francisco cryptocurrency exchange started off the year with approval from local regulators to operate in France. Like Japan’s Kishida, French President Emmanuel Macron plans to make his country a major crossroads for AI and crypto.
Furthermore, he has promised billions of euros in government subsidies to help fund French projects. According to French data firm Toluna, 10% of French adults own crypto, and 24% say they plan to buy, sell, or trade such assets in the next year.
7. VanEck Spot Bitcoin ETF in Australia
U.S. exchange-traded fund (ETF) manager VanEck is moving toward launching a spot Bitcoin ETF for the Australian market. Van Eck Australia chief executive Arian Neiron recently said that his company has received a “significant uptick” in demand for a Bitcoin ETF listed on the Australian Stock Exchange (ASX).
Neiron said in a statement that the company still needs approval from the financial regulator, the Australian Securities and Investments Commission (ASIC).
“There are still a number of hurdles from a regulatory and exchange framework perspective that must be worked through, as well as approval from ASIC before we will see a bitcoin ETF on ASX,” he stated.
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Bitcoin has come a long way since its inception, transforming from a digital curiosity into a formidable currency that you can use for a surprising variety of purchases.
Whether you’re an enthusiast looking to spend your stash or a newbie curious about the practical uses of Bitcoin, you’ll find this guide packed with fascinating insights. Let’s explore 14 unexpected ways to use Bitcoin in 2024.
Can You Buy Anything with Bitcoin?
Absolutely! While direct cryptocurrency payments might not be ubiquitous yet, services like the BitPay Card bridge the gap, making almost any purchase possible. Here’s how you can splurge your digital coins.
1. High-Tech Gadgets and Electronics
Fancy the latest iPhone or need a new gaming laptop? Retailers like Newegg accept Bitcoin directly for all your electronic needs, from smartphones by Apple, Samsung, and Google to gaming accessories.
Alternatively, Walmart and Amazon gift cards can be bought through the BitPay app, opening a vast inventory of tech goodies.
2. Betting
For those interested in the evolving world of crypto betting, bitedge.com offers a comprehensive guide to navigating this dynamic landscape, ensuring you’re well-equipped for your next wager.
3. Fashion Finds with a Digital Wallet
Revamp your wardrobe with Bitcoin. Various brands and retailers allow you to purchase clothing directly with Bitcoin or through gift cards. Imagine walking into a store, scanning a QR code, and walking out with a brand-new outfit paid for with digital currency.
4. From Daily Brew to Luxury Yachts
Yes, you read that right. Your morning coffee can now be bought with Bitcoin using the BitPay Card at any MasterCard-accepting coffee shop.
And for those dreaming bigger, luxurious yachts and boats are available for purchase with Bitcoin through Denison Yachting.
5. Real Estate and Precious Metals
Bitcoin is not just for small-ticket items; it’s making waves in big investments too. Through BitPay-partnered brands like Pacaso and Condos.com, you can invest in real estate.
Precious metals like gold and silver are also accessible through Bitcoin transactions, offering a secure way to diversify your investment portfolio.
6. Diamonds Are Forever, and So Is Bitcoin
Add sparkle to your life with diamonds and jewelry from trusted retailers like Idoneus and Icebox, paying with Bitcoin. It’s a modern twist on investing in timeless treasures.
7. Video Games and In-Game Purchases
Gamers rejoice! Video games, in-game purchases, and gaming accessories can be bought with Bitcoin.
Platforms like Steam and Xbox offer gift cards through the BitPay app, ensuring you’re always ready for the next virtual adventure.
8. Booking Your Next Getaway
Thinking of a holiday? Hotels, boutique stays, and even flights can be booked with Bitcoin.
Use gift cards for Airbnb or book directly at crypto-friendly hospitality groups, making travel easier and more secure.
9. Groceries and Dining Out
Bitcoin extends to your daily necessities too. Grocery shopping can be done using the BitPay Card at local stores or by purchasing gift cards for Amazon Fresh and Whole Foods.
Dining out? Use your BitPay Card at local restaurants or buy gift cards for your favorite food delivery apps.
10. Home Sweet Home
Furnishing a home or tackling a DIY project? Furniture and home improvement items can be bought with Bitcoin through gift cards for stores like Pottery Barn and Home Depot.
It’s a seamless way to use digital currency for tangible home enhancements.
11. Donations to Nonprofits
Bitcoin makes it easy to support causes close to your heart. Donating to nonprofits and charities with Bitcoin not only simplifies the process but also offers tax benefits, making generosity more rewarding.
12. Education and Web Services
Investing in knowledge and online presence has never been easier. Web services like domain names, web hosting, VPNs, and servers can be paid for with Bitcoin through providers like NameCheap and ExpressVPN.
This shift towards cryptocurrency payments in the digital sphere highlights Bitcoin’s growing influence beyond just physical goods.
13. Entertainment on Demand
Your leisure time can also benefit from Bitcoin. Pay for your TV service subscriptions through Dish TV and Sling TV using BitPay.
Moreover, movie buffs will be thrilled to know that AMC theaters now welcome crypto payments, making your next movie outing a bit more futuristic.
14. Timepieces and High-End Vehicles
Luxury purchases including high-end cars like Lamborghinis and Ferraris, as well as luxury watches from brands like Jomashop and CRM Jewelers, are now within the Bitcoin spender’s reach.
Dealerships and retailers partnered with BitPay facilitate these extravagant buys, offering a seamless blend of luxury and technology.
The Social Impact of Bitcoin Spending
Empowering Nonprofits
Bitcoin’s role in philanthropy is growing. Many nonprofits now accept Bitcoin, recognizing its potential to streamline donations and maximize the impact of each contribution. This shift not only benefits the organizations but also encourages a culture of giving within the Bitcoin community.
The Convenience of Prepaid Cards
Prepaid debit cards, purchasable with Bitcoin, offer another layer of convenience, making it easier to manage finances and spend digital currency. These cards function just like any other debit card, bridging the gap between digital and fiat currency for everyday use.
The Evolution of Gift Giving
Bitcoin has transformed the way we think about gift-giving. With the ability to purchase gift cards for a wide array of retailers, from Amazon to Foot Locker, Bitcoin makes it easy to find the perfect gift for any occasion, all without the need for a traditional bank account.
FAQs
Can I pay for my gym membership with Bitcoin?
Yes, some gyms have started accepting Bitcoin payments directly or through third-party payment processors like BitPay, allowing you to use Bitcoin for your fitness expenses.
Is it possible to use Bitcoin for educational tuition fees?
While not universally accepted, a growing number of educational institutions around the world are beginning to accept Bitcoin as payment for tuition fees, especially for online courses and digital learning platforms.
Can I buy pet supplies with Bitcoin?
Yes, you can buy pet supplies with Bitcoin either directly from online retailers that accept cryptocurrency or by purchasing gift cards for pet supply stores through the BitPay app.
Are there any Bitcoin-friendly cities where I can use Bitcoin for public transport?
Some cities have started experimenting with accepting Bitcoin for public transport services.
However, this is still quite rare and often facilitated through specific apps or payment systems designed to convert Bitcoin to local currency.
Can I use Bitcoin to purchase insurance policies?
A few insurance companies are beginning to accept Bitcoin for premium payments, particularly for digital and tech-related insurance products, though this practice is not yet widespread.
Is it possible to pay taxes with Bitcoin?
Some jurisdictions and local governments have started to explore the possibility of accepting Bitcoin for tax payments through third-party payment processors. However, this is still not a common practice and varies significantly by region.
Final Thoughts
Bitcoin’s versatility is expanding, bridging the gap between digital currency and everyday transactions. From the simplicity of buying a cup of coffee to the complexity of purchasing a yacht or real estate, Bitcoin is proving to be more than just an investment—it’s a currency for all facets of life.
As we move further into 2024, the possibilities for using Bitcoin continue to grow, making it an exciting time to explore what else you can do with your digital coins.
A vast majority of European residents have expressed optimism and confidence about the future of the cryptocurrency sector.
According to a Binance Survey targeting users in France, Italy, Spain, and Sweden, around 73% of respondents are positive about the future of digital assets.
A Trend of Optimism
The world’s largest crypto exchange surveyed 10,498 individuals from the selected countries between October 14 and November 8, 2023. The results revealed a trend of optimism, exclusive engagement with crypto assets, surging adoption, growing trust, and increasing utility.
While 73% of the participants expressed optimism about crypto’s future, 55% disclosed that they interact exclusively with digital assets. This indicates a positive perspective on the anticipated growth and adoption of crypto and blockchain technology and steadfast confidence in the market. Around 24% of respondents also revealed more than half of their total trading activities involve crypto.
When asked for their primary use cases of digital assets, 34% of the surveyees said they use the assets for their long-term trading, 26% use them for saving, 13% use them for day trading, and 9% use crypto for purchases. Also, 55% of the respondents use cryptocurrencies for everyday purchases, with 10% making crypto purchases weekly.
Over Half Are Active Crypto Traders
Furthermore, Binance found that the primary drivers of mainstream crypto adoption in Europe are the potential for high returns, the allure of decentralization and financial autonomy offered by digital assets, as well as innovation and technology, as acknowledged by 20%, 18%, and 17% of respondents, respectively.
Roughly 82% of the participants reported being involved in crypto for at least a year, with 73% remaining active in the past five years and 9% disclosing their involvement for more than five years. Only 5% joined the crypto space in the last six months.
In addition, 53% of the respondents are active traders, with the majority engaging in monthly trading. Around 65% prefer centralized exchange wallets, compared to 18% who use hardware wallets.
“The growing use of crypto in everyday purchases and its diverse applications highlights the integration of digital assets into our lives. With Europe at the forefront of implementing a secure and harmonized regulatory framework for the industry through MiCA, it’s evident that the region is actively paving the way for the mainstream adoption of digital assets,” commented Binance CMO Rachel Conlan.
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Institutional adoption of the Bitcoin network has been hindered by several challenges, including technical scalability, programmability, and cultural alignment within its developer community.
However, Spartan Group, a leading player in the Web3 space, and venture capitalist and analyst Kyle Ellicott believe the development of layer2 (L2) solutions will help the network overcome these limitations.
Developing L2 Solutions on Bitcoin
According to the “Bitcoin Layers: A Tapestry of a Trustless Financial Era” report by Spartan Group and Ellicott, secondary networks built on the blockchain can “catapult” it into institutional adoption and enable the utilization of its dormant capital.
Bitcoin had a market capitalization of over $800 billion at press time, but most of the capital is currently unproductive. Activating the dormant capital would entail fully harnessing the potential and capabilities of the Bitcoin network.
It is worth noting that developers have made efforts to build protocols on top of, or adjacent to, Bitcoin that enable smart contracts to execute scalable transactions; however, the approaches have faced several issues as BTC evolves beyond its presumed role as just a store of value.
To ease Bitcoin’s transition into a foundational technology platform for the trust-minimized financial system, Spartan Group and Ellicott have introduced a concept focused on a group of secondary networks, including Stacks, Lightning, Rootstock, and Liquid. The Bitcoin Layers concept will be led by the protocols tagged the “Big Four.”
Fixing Bitcoin’s Limitations
Partly inspired by Ethereum’s layered architecture, the Big Four aims to fix Bitcoin’s limitations by introducing functionalities like increased transaction speeds and data availability to blend the network with traditional and decentralized financial systems.
Stacks, which brings smart contracts and decentralized applications to Bitcoin, began operating in 2020 and is preparing to launch an upgrade – the Nakamoto Release – around the time of the upcoming Bitcoin halving in April. The upgrade promises to increase transaction speed and inherit 100% of the network’s reorganization security and finality, enabling users to move their BTC between Bitcoin and the L2.
Lightning Network facilitates fast and low-cost Bitcoin transactions, Rootstock adds smart contract capabilities to the network, while Liquid is a sidechain used for more confidential transactions and digital asset issuance.
Although the Big Four lead the new concept, developers are conducting several experiments to bring more protocols to the market. Spartan Group believes the ongoing L2 development positions Bitcoin for institutional adoption, just like Ordinals marked a cultural shift in the network’s landscape.
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On this day, 15 years ago, Satoshi Nakamoto mined the genesis block of the Bitcoin network, laying the foundation for the cryptocurrency industry.
Since 2009, the community has celebrated Bitcoin’s birthday every January 3, reminiscing about one of the most significant moments in crypto history.
Bitcoin’s 15th Anniversary
The genesis block contains the first 50 BTC earned as a reward for the transaction, which was released on Sourceforge, a web-based service offering developers a centralized online location to control and manage free and open-source software projects. Sourceforge was the original repository for Bitcoin’s open-source code base before it was moved to GitHub.
Due to the absence of a previous block to be referenced, the first 50 Bitcoins are unspendable and have remained in the transaction address.
The block contains a message from Nakamoto quoting a headline from the UK’s Times newspaper: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
The mysterious Bitcoin creator released the project’s whitepaper the year before in the aftermath of the 2008 financial crisis, considered the most severe economic fallout since the Great Depression in 1929. The Bitcoin concept introduced a pseudonymous, decentralized, and trustless financial system far from the reach of banks and intermediaries, which Nakamoto did not like.
How Far Has BTC Come?
Fifteen years down the line, BTC has altered the landscape of digital assets and the financial market as a whole. Bitcoin has evolved into a network with a market capitalization of more than $888 billion, leading an ecosystem worth $1.8 trillion while maintaining 52% dominance in the cryptoverse.
Although BTC is currently worth around $43,000, its value once rose above $68,000. The asset has garnered the interest of governments, banks, traditional finance giants, corporations, and high-networth individuals, leading to the creation of several derivatives, including exchange-traded funds (ETFs).
The crypto community anticipates the launch of the first spot Bitcoin ETF in the US, a feat that more than a dozen asset management firms are vying for. There is also the upcoming Bitcoin fourth halving set to reduce the production rate of BTC.
Meanwhile, BTC finished 2023 as the best-performing asset with an increase of 160%, ahead of stock indexes, bonds, equities, and gold.
A survey conducted by Binance indicates that close to 50% of its users depend on crypto as a means to generate additional income. The latest observation was part of its new campaign, “Crypto is better with Binance.”
Based on data from a survey with a sample size of 1,172 participants from November 15, 2023, to December 6, 2023, on the Binance Survey platform across Asia & Pacific, the Middle East, Europe, Africa, and Latin American users, the findings revealed that nearly half – 45% – identified earning additional income as their main purpose for using crypto.
Following closely were savings, with 19%, and mitigating inflation, with 9%. A significant portion of respondents, nearly 36%, highlighted that the primary incentive for using crypto for savings was to attain financial security and independence.
Binance Survey Findings
The results shared with CryptoPotato revealed that 19% of respondents surveyed expressed high fees to be a major hurdle when dealing with legacy financial systems and services. Another 14% of respondents said that slow transaction times were also one of the largest challenges with such infrastructures.
The majority of participants – 76% – expressed the view that crypto can contribute to reducing income inequality and financial disparities in society.
Of those surveyed who primarily use crypto to generate additional income, 23% expressed the intention of using it as their main source of income. Another 23% use it to save towards home, while 21% allocate it to invest in alternative digital assets.
More than one-third – 36% – of survey participants utilize cryptocurrency for weekly transactions. Among them, a majority – 58% – employ crypto for online purchases, covering a range of items such as goods, services, and digital products. Additionally, 12% use it for international transactions and remittances, while another 12% utilize crypto for in-store purchases.
A significant portion of respondents, totaling 59%, have been involved in cryptocurrency for a duration ranging from 1 to 5 years. Another 14% have a more extensive experience of over five years, while 12% are relatively new to crypto, having engaged with it for less than six months.
36% of users employ cryptocurrency as a means to save money, seeking financial security and independence. Additionally, 16% utilize it to earn higher interest on their savings, and 14% use crypto for saving towards retirement.
Participants also revealed the positive effects of crypto on their lives, with 20% noting an increase in the value of their investment portfolios, 18% citing opportunities for additional income through trading or staking, 15% enjoying greater access to financial services, 14% experiencing improved financial control, and 12% benefiting from faster and more cost-effective cross-border transactions.
Crypto Adoption
According to Chainalysis’ Global Crypto Adoption Index, India is the biggest crypto market in the Central & Southern Asia and Oceania (CSAO) region and leads the world in grassroots adoption.
The index indicated a decline in global grassroots cryptocurrency activity following the 2022 FTX collapse. However, lower-middle-income countries, as classified by the World Bank based on wealth, have exhibited the strongest rebound in grassroots crypto adoption over the last year.
Nigeria and Vietnam captured the second and the third spots respectively on the blockchain analytical firm’s Global Crypto Adoption Index.
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A recent report from Grayscale Investments revealed an unexpected diversity in Bitcoin (BTC) ownership, with 74% of addresses holding less than 0.01 bitcoin, equivalent to approximately $380.
Grayscale’s research dispels the inaccurate public belief that Bitcoin is predominantly owned by a few individuals, revealing around 40% of BTC’s supply is concentrated among institutions like exchanges, miners, governments, public companies, and long-term holders.
Bitcoin’s Widespread Ownership
As of November 6th, 2023, 74% of Bitcoin addresses hold less than 0.01 BTC, equivalent to approximately $380 at the time of writing.
The statistic highlights the accessible nature of Bitcoin, contrasting with traditional high-risk, high-return assets like private equity and venture capital, often limited to accredited investors. Bitcoin, unlike these traditional assets, is available to a global audience with internet access.
An analysis of the top BTC wallet addresses reveals that the largest holders are not individual investors but institutions such as crypto exchanges and government entities.
The report reveals that about 40% of Bitcoin’s total supply is held by identifiable groups and public companies like Tesla and MicroStrategy, mining firms, ETFs, and dormant addresses.
The Concept of “Sticky Supply”
Another takeaway from the report is the concept of “sticky supply,” referring to bitcoin held for long-term purposes and less likely to be sold in the short term. This includes 14% of the supply, which hasn’t been touched in over a decade, possibly such owned by Bitcoin’s mysterious creator, Satoshi Nakamoto, or simply lost BTC.
Regarding supply dynamics, specific segments like miners and exchanges, which account for 20% of the total Bitcoin supply, exhibit price inelasticity. The characteristic suggests these groups are less likely to sell their holdings in response to price fluctuations, further contributing to the limited liquid supply of Bitcoin.
The aspect of sticky supply is relevant in the context of upcoming events, such as the potential approval of a spot Bitcoin ETF in the US. Spot ETF approvals could further tighten Bitcoin’s already constrained supply, amplifying the asset’s demand-related price dynamics.
The research concludes that the diverse and distributed nature of BTC ownership and the growing presence of institutional investors signifies a significant shift in the cryptocurrency landscape.
As we approach significant milestones like the 2024 Bitcoin halving and potential regulatory changes, BTC’s ownership and supply dynamics could play a pivotal role in shaping its market behavior.
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In a recent study conducted by Coinbase, a paradigm shift has emerged among the young American population. An impressive 38% of younger Americans now believe crypto and blockchain technology can provide significant economic opportunities not commonly found in the traditional finance sector.
Interestingly, this stands in stark contrast to older generations, where approximately 26% share the same belief in the potential of blockchain technology.
Younger Generations Attraction to Digital Assets
The gravitation towards cryptocurrencies is based on more than just disillusionment with the traditional system. There is a proactive push from young people to scour for new economic opportunities aligning with their lifestyles and financial needs.
As per the study, younger generations are highly frustrated with the current financial system. According to Coinbase’s report, only 9% of Gen Z (18-25) and 19% of Millennials (26-40) still believe in the attainability of the American Dream through conventional means.
Only 7% of these demographics believe the current financial system serves their needs well. Over 52% of the respondents in the study period reported infrequent use of the system, with fewer than 20% considering the U.S. financial system superior to those in other countries.
Moreover, about 31% of younger individuals own cryptocurrency compared to 12% of older generations. 16% of the younger people note that the international availability of digital assets is a compelling attribute for crypto.
Interestingly, the report also indicates that since most millennials and Gen Z adults have grown up using internet-based applications, they expect financial institutions to adapt to modern technology.
Because of these expectations, most younger generations refer to the system as political, expensive, outdated, and not innovative or speedy. About 30% of millennials and Gen Zs aged 18-40 think the system is costly, while about 19% consider it confusing.
Younger Generations to Impact Future Elections
The question of next year’s election was asked to the respondents, and according to Coinbase, 51% of the younger ones signaled a possibility of supporting crypto-friendly candidates in the upcoming 2024 elections.
The number of Millenials and GenZs adults representing 40% of the voting population. Moreover, by 2028, millennials and GenZs will likely represent the majority of American voters.
About 39% of the younger generation believes that “politicians and policymakers should support technologies like cryptocurrency and blockchain to help future generations, versus 28% of older Americans.”
This report is part of Coinbase’s ongoing research on crypto. The previous report mentioned that over 50% of Fortune 100 companies are looking into blockchain tech to stay competitive. In another poll by Coinbase, it was established that about 55% of voters would prefer a candidate who backs web3.
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MicroStrategy will release software applications and solutions powered by the Bitcoin Lightning Network in 2023.
MicroStrategy executive chairman Michael Saylor spoke about his company’s plans in a Twitter Spaces room on Wednesday, shedding light on some of the offerings currently in the works at the software firm.
Saylor mentioned that as part of his transition from CEO to executive chairman, the company’s Bitcoin arm has been able to have a deeper focus on ways it can not only buy and hold BTC but also contribute to the ecosystem. As it seeks to branch out of regular software applications and into Bitcoin, MicroStrategy can leverage its existing knowledge to provide enterprises with tooling for the Bitcoin and Lightning ecosystem.
“We want to make it possible for any enterprise to spin up Lighting infrastructure in an afternoon” and onboard thousands of employees or customers, Saylor explained. “We want to plug it into enterprise technology and make it a marketing strategy for any forward thinking CMO.”
Areas that MicroStrategy is exploring for Lightning services include online content monetization, enterprise marketing, web paywalls, and internal corporate controls. Every chief marketing officer should be able give away satoshis –– Bitcoin’s smaller denomination unit –– as incentive for customers to post reviews or give feedback, Saylor said.
“We have teams working on it and are looking to bring something out by next year. We expect to show something in the first quarter.”
Saylor also said in the Twitter Spaces conversation that MicroStrategy’s upcoming Bitcoin event will feature a “Lightning for corporations” agenda, which should dive deeper into the company’s plans for how it wants to explore and contribute to the ecosystem and drive greater adoption.
This is an opinion editorial by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transitioning to the Finance Corps.
I love listening to Greg Foss on podcasts, especially when I’m gearing up for a heavy dead lift or something like that. His no-nonsense talks about bonds just really gets my blood flowing and my mind focused. But when I send stuff like that to my less finance-minded buddies, they often have trouble understanding what he’s talking about.
Here’s my attempt at some potentially oversimplified math to explain the debt spiral.
As of October 13, 2022, the United States has $31,144,952,729,330.20 worth of outstanding debt. This is updated daily by the Treasury. To make the math a little more simple, let’s just call it $30 trillion. After all, what’s another trillion, give or take?
This implies a $621 billion annual interest payment on the debt this year. The Washington Post estimates $580 billion. Let’s split the difference and call it $600 billion.
If you’ve been paying attention, the Federal Reserve is aggressively raising interest rates and the market is equally aggressive in bidding up yield on government debt.. Every basis point that is added to the average rate on U.S. government debt will add about $3 billion in additional interest expense. That’s if the debt stays at its current level.
That unfortunately is not going to happen. Currently, the annual budget shortfall sits at $946 billion per year with no signs of ever going to zero. Since this is the case, not only will the U.S. government have to issue more debt at a rate of nearly $1 trillion more per year, it will be doing so while interest rates are going up fast.
The higher interest rates go, the more interest on the debt will be required to be paid. The more interest on the debt required to be paid, the larger the deficit gets. The larger the deficit gets, the more debt must be issued. More debt issued, more interest on debt. Even if the Fed dropped rates back to zero, the debt would continue to grow at a compounding rate because of the nature of the deficit.
Even more concerning is the above graph depicting the debt as a percentage of gross domestic product. The upward slope of the line since the mid-1980s implies that the debt has been growing faster than the economy for decades.
The nature of the perpetual budget deficit ensures that this situation is an inevitability; the Fed is just accelerating it at the moment. Debt begets more debt as long as the deficit exists.
Hopefully you get it now. This is what Greg Foss means by a debt spiral. The debt never actually gets paid off; it just keeps getting rolled over, growing at a compounding rate. On this trajectory, it will start to accelerate.
Bitcoin Is Protection
Based on math alone, the Federal Reserve cannot continue to raise rates for much longer, nor keep them this high because the interest on the debt will become completely unmanable. There is a lot to be said about a Fed Pivot and when they will decide to taper their taper to lower interest rates back down. When will they actually do it? I’m not sure, but the Fed will have to eventually drop rates back down to try and slow the bleeding. And when it does, the rally that the bitcoin price will have is going to melt your face off.
While I am not particularly interested in the price anymore — unlike some — I am concerned with everyday people being able to hop on the bitcoin life raft before it shoots off into space.
Absolute scarcity is an absolute imperative in a world bereft of monetary scarcity. Be a good friend: help people grasp this concept, because most don’t understand what’s coming.
This is a guest post by Mickey Koss. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
This is an opinion editorial by Andy Flattery, a certified financial planner.
An observer of modern culture paying even the slightest attention might aptly compare today’s world to the Roman Empire in the sixth and seventh centuries. This was a period of cultural decline, where barbarian invasions destroyed cities, libraries, laws and even governments. During this time, it was medieval monks, such as St. Benedict, who preserved and built up Western civilization. The monks did this by preserving ancient texts, saving agriculture in Europe and preaching the Gospel.
Today, the Benedictines of Mary, Queen of the Apostles, are doing their part to build up a civilization in the midst of cultural rot. And they are doing it with the help of bitcoin. These traditional Catholic nuns are a monastic order who follow St. Benedict’s rule and buy, receive and hold bitcoin in cold storage on behalf of their monastery. They survive on self-sufficiency and financial support from around the world — they have nuns from Mexico, England, Germany, the Netherlands and Lithuania — making bitcoin their ideal money.
While driving through the hills north of Kansas City, Missouri, en route to the monastery, I wondered, “What could possibly be the connection these nuns have to bitcoin?” Father Matthew Bartulica, chaplain of the monastery put it to me this way:
“The monastic life is probably the greatest example of low time preference! It’s all about passing on the traditions to future generations … This also has a huge impact on the culture, because it’s not all about satisfying one’s immediate desires, but building a better future. Today’s world doesn’t offer much hope because nothing is valued, partially because the money is broken — just like it was in Ancient Rome. The Benedictines helped rebuild civilization 1,500 years ago and I believe that the life of the Abbey is like a citadel, a popular term with bitcoiners, that will help to rebuild civilization in the 21st century.”
Father Bartulica is the orange-pilled, Catholicpriest at the monastery. He ably references Dr. Saifedean Ammous, author of “The Bitcoin Standard,” on issues such as fiat architecture and fiat food. I was introduced to the priest by a mutual friend. “You’re a Catholic who is into bitcoin … you have to meet this priest!”
It was Father Bartulica who set up the sisters with hardware wallets and taught them how to send, receive and get on the path toward financial sovereignty. He is on a mission to convert local Catholic parishes to a bitcoin standard. So far, the Benedictines of Mary have been most ready and able.
You can see some parallels between the bitcoin ethos and the way these nuns live. The sisters walk the walk by dedicating their lives to the long term, even into the eternal. Following the model of “ora et labora,” which means work and pray in Latin, they demonstrate low time preference by praying eight times a day, growing their own produce and raising their own cattle and chickens. These nuns even release award-winning and soul-lifting chant and hymn music.
Mother Abbess Cecilia is the young and vibrant abbess of the monastery, and put it this way:
“What we are doing is building up civilization. We are hanging onto the traditions of the Church and the traditions that built up Western culture. We are stable, we have order, we know what we’re supposed to do and we do it every day. We do it with love, with diligence.”
One thing I was immediately struck by when visiting the monastery is the brand new, awe-inspiring church that dominates the grounds. I expected to drive up to a modern, utilitarian building, as (disappointingly) can be expected from any average suburban church today. Instead, the sisters built an architecturally beautiful structure that includes hand-painted murals, Italian marble, vaulted ceilings and stained-glass windows.
This was possible thanks to generous bitcoin donations made in 2017. These donations allowed the Benedictines to build a church for the ages without the burden of debt financing. Mother Cecilia described her first encounter with bitcoin in 2017:
“They [their bitcoin benefactors] knew we had a need to build the Church and, boy, did that help us! I mean, wow, what a blessing. Without it, I don’t know if we’d still be paying off a loan on this beautiful building.”
So despite the reputation that Bitcoiners may have as miserly hoarders, generosity shone through and the nuns were able to sell proceeds (tax-free) for the purpose of building their Church.
“We have had such beautiful success with several very large bitcoin donations to help build this house of prayer. If I were someone who had means, I would want to assist in making tangible goods, not something that is slapped up to last for 50 years; something that’s going to last, something that will be passed down from generation to generation, to last a thousand years, this beautiful monument to God’s glory. — Mother Cecilia
At first glance, it may seem incongruous to see traditional Catholic nuns embracing bitcoin — these are nuns who wear the full habit — but technology has assisted them in seeing significant growth in their order of religious sisters.
Many young women have discovered the Benedictines of Mary by searching for Catholic monasteries online, and traditional Latin mass ones in particular. The internet, and now the Bitcoin network, have also made it possible for generous benefactors around the world to easily play a role in building a monastery. Their music has now been streamed over 3.5 million times on platforms such as Spotify; the sisters’ prudent embrace of technology has paid off.
My favorite part of the trip, beyond the spiritual benefits, was witnessing the number of things the nuns do to prepare their own food. The sisters treated me to a lunch of vegetable and beef soup, homemade rolls and butter, all produced on site. The conversation was over ideas on honest money, how the Church could benefit by adopting bitcoin and the health benefits of raw milk.
“Who knows how to farm anymore? This is one thing we do and are hopefully getting better at every year, just self sustaining. So we can work closely with the ground, the soil and God’s creation, and produce our own food right here. It’s really a beautiful thing.” — Mother Cecilia
While admittedly foreign to many of us living in the clown world, myself included, the desire to join traditional religious life is growing. Every year the Benedictine sisters host over 150 visiting women from around the world to discern the process of joining their order. Out of these women, around 10 will take permanent vows. As a result, their space is bursting at the seams and plans are in the works for another new monastery to be constructed in southern Missouri.
It may be the case that the importance of traditional religious organizations, such as the Benedictines of Mary, adopting bitcoin will become more essential as the creeds they profess grow more deplorable among the mainstream. The sisters are familiar with their unpopularity in the eyes of our conformist culture and have even been the target of shootings in recent years. One can imagine this sort of animosity being used as justification to impede an organization’s use of their own bank account, as in the Canadian truckers’ situation in early 2022 — even for a group of unassuming religious sisters.
While churches and monasteries exist to stand as a refuge against a declining culture, their own finances are still at the whim of artificial inflation and the traditional financial system. The permissionless nature of bitcoin ensures that these spiritual citadels can be immune to financial censors while simultaneously interacting with the global monetary network. So long as they choose to adopt bitcoin.
The sisters accept bitcoin donations on their website.
This is a guest post by Andy Flattery. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
