Your weekly pulse on markets, narratives, protocols, and policy.
Market Pulse
Standard Chartered: Sovereign funds fuel Bitcoin exposure via MicroStrategy, $500K BTC target in sight
Standard Chartered Bank reiterated its long-term bitcoin outlook this week, maintaining its ambitious forecast that the cryptocurrency will climb to $500,000 by the end of Donald Trump’s second term. In a report released Tuesday, Geoffrey Kendrick, the bank’s global head of digital assets research, cited newly published investment disclosures as evidence that institutional and sovereign interest in bitcoin is accelerating
$1M Bitcoin by 2030: Big names predict massive debt-driven BTC rally
Some prominent financial commentators and investment analysts are predicting a long-term Bitcoin rally that may send the asset’s price above $1 million before the end of the decade, driven by rising inflation and mounting global debt.
ARK Invest CEO Cathie Wood said Bitcoin (BTC) could reach $1.5 million by 2030 in her firm’s “Bull Case” forecast. In a Feb. 11 video, Wood said the price would require BTC to grow at a compound annual rate of 58% over the next five years, largely fueled by increased institutional adoption.
Japan’s Remixpoint Announces $7M Bitcoin Purchase, Raising Total Holdings to $84M
Remixpoint, a Japanese-listed energy software firm, has approved the purchase of an additional ¥1 billion ($7 million) in Bitcoin, bringing its total cryptocurrency holdings to approximately ¥12 billion ($84 million), the company announced on May 26 following a board resolution.
According to the announcement, the new BTC purchase is separate from the 4.4 billion yen that Remixpoint intends to invest in crypto using funds raised via its 24th stock acquisition rights issuance, which includes an exercise price revision clause. That offering, announced on May 19, is part of a broader fundraising effort of up to 5.6 billion yen.
The company said that timing of the purchase will be determined based on market conditions.
Narratives to Watch
BlackRock In-House Fund Increases Bitcoin exposure by 25%
The world’s largest asset manager is doubling down on Bitcoin. BlackRock’s Strategic Income Opportunities Portfolio has quietly increased its stake in the company’s iShares Bitcoin Trust (IBIT) by 25%, signalling growing institutional confidence in cryptocurrency as a diversification tool. With $11 trillion in assets under management, BlackRock’s latest move highlights Bitcoin’s accelerating integration into mainstream finance.
R3 and Solana Join Forces to Tokenize Traditional Finance
The goal is to converge traditional finance (TradFi) and decentralized finance (DeFi). This will be done by bringing regulated real-world assets (RWAs) onto the Solana public blockchain.
This partnership bridges permissioned and public networks to tokenize traditional finance and reshape capital markets.
Protocol Watch
Kraken Taps Solana Blockchain To Roll Out Tokenized American Stocks and ETFs for Non-US Traders
The San Francisco-based crypto exchange Kraken is bringing tokenized versions of popular US-listed stocks and exchange-traded funds (ETF) to its clients in select non-US markets.
In a statement, Kraken says it partnered with the tokenized stocks and ETF issuer Backed to launch xStocks on the Solana (SOL) blockchain.
Cardone Capital Launches Bitcoin-Backed Real Estate Fund in Miami
The investment fund combines multifamily real estate with BTC, maximizing upside by converting a portion of the monthly cash flows to BTC.
Cardone Capital, a real estate investment firm with over $5 billion in assets under management, launched the 10X Miami River Bitcoin Fund, a dual-asset fund consisting of a 346-unit multifamily commercial property located on the Miami River in Miami, Florida, and $15 million of Bitcoin.
Regulatory Radar
Bitcoin, XRP and Stocks Could Go Tax-Free Under This New Florida Bill
The state of Florida has reportedly proposed a new bill that calls for a 0% tax on crypto gains from crypto assets such as Bitcoin, XRP, and some stocks.
The latest proposal in Florida comes amid a nationwide call for creating state-level Bitcoin reserves. Two American states have already approved Bitcoin reserves, while a couple more are in the final stages of approving one.
US Labor Department reverses course on crypto in 401(k) plans, accuses Biden administration of placing ‘thumb on the scale’
The U.S. Department of Labor reversed earlier guidance discouraging retirement managers from considering cryptocurrency as an investment option in 401(k) plans, marking the latest agency to pull back statements limiting digital assets.
The agency tasked with protecting workers and retirees released guidance in 2022 that encouraged managers to “exercise extreme care” before adding crypto to their investment strategies. Now, U.S. Secretary of Labor Lori Chavez-DeRemer said investment decisions should be made by fiduciaries, “not DC bureaucrats.”
Moonrig Perspective
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