Here’s what happened in crypto today
On January 30, 2025, European Central Bank (ECB) President Christine Lagarde stated that Bitcoin will not be adopted as a reserve asset, emphasizing that central bank reserves must be liquid, secure, and safe. This response followed a suggestion by the Czech National Bank Governor to consider Bitcoin in diversification strategies. Meanwhile, Illinois advanced a bill proposing a state-run Bitcoin reserve fund, with a minimum five-year holding period for the asset. Additionally, Tesla reported a significant $600 million gain from its Bitcoin holdings in Q4 2024, thanks to a new accounting rule that allows companies to record the estimated market value of crypto assets on their balance sheets. Tesla's Bitcoin value increased from $184 million to just over $1 billion, reflecting a net gain of $589 million, derived from its holdings of 9,720 BTC.
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