🏔️ Rent-a-Volcano

Happy Friday, In A Nutshell this week:

• 🏔️ Rent-a-Volcano

• 🥇 China Discovers $83 Billion in Gold

• 🇨🇭Swiss State Votes to Study Bitcoin Mining

• 😱 The FCA: Incompetent At Best

• 🌎 Why Save The Children Are Embracing Bitcoin

• …and much more

If you enjoy the newsletter, please pass it on to a friend, you can earn free sats (see bottom of the email).

 🚀⏰ Today’s news should be a ~4.12-minute read (629 words).

🧠 Quote Of The Week

“It’s impossible only if we make it so. It’s impossible only if we refuse to attempt it.”

– Eglantyne Jebb

🏔️ Rent-a-Volcano

El Salvador’s President, Nayib Bukele, has shared a bold new idea: “Rent-a-Volcano.” It’s a (theoretical) plan to let Bitcoin miners harness the country’s geothermal energy for their operations.

Although this is not official news, the move would align with Bukele’s ongoing push to position El Salvador as a hub for Bitcoin innovation.

🥇 China Discovers $83 Billion in Gold

China has struck gold, literally. A massive deposit worth $83 billion has been discovered in Hunan province, adding over 1,000 tonnes to the country’s reserves.

China's recent discovery of over 1,000 tonnes of gold in Hunan province adds approximately 0.5% to the estimated 201,000 tonnes of gold mined globally to date.

You can’t discover more Bitcoin like you can Gold.

🇨🇭Swiss State Votes to Study Bitcoin Mining

The parliament of the Swiss canton (state) of Bern has passed legislation to study Bitcoin mining. The vote was 85 to 48 in favour of the legislation. 

The canon could potentially utilise unused energy for producing Bitcoin and they will also explore how Bitcoin mining could potentially be used for stabilising the energy grid. 

😱 The FCA: Incompetent At Best

A parliamentary report has criticised the UK's Financial Conduct Authority (FCA), labelling it "incompetent at best, dishonest at worst." The report highlights the FCA's failure to protect consumers and small businesses from financial misconduct, citing a defective culture and inadequate responses to financial scandals.

Current and former FCA staff said the regulator had a “defective culture” in which “errors and inaction" were "too common”.

🇧🇷 Brazil Proposes Sovereign Bitcoin Reserve

A Brazilian federal deputy introduced legislation to create a national Bitcoin reserve that would hold up to 5% of the country’s international reserves.

But here is the caveat…

The proposed reserve would back the issuance of Drex, Brazil’s CBDC, and include advanced monitoring systems using artificial intelligence and blockchain technology to ensure transaction integrity.

🌎 Why Save The Children Are Embracing Bitcoin

“Bitcoin doesn’t have a use case.”

We all likely have someone who says this. Well, this is THE EPISODE to send them.

Antonia leads Bitcoin innovation at the global humanitarian organisation, Save The Children and in our latest episode we chat about how they are exploring Bitcoin as a force for good and a force for financial inclusion.

This is a must-listen/watch: Apple Podcast, Spotify, YouTube

🔥 What else have you missed?

1. Video platform Rumble Adds Bitcoin to Its Treasury.

2. Bitcoin explained like I’m 5 (Book launch).

3. Namecheap Amasses $73 Million in Bitcoin Revenue With Over 1.1 Million Transactions.

4. Germany's $3 Billion Mistake—Is it Too Late to Buy Bitcoin?

5. Resurfaced Naval Ravikant tweet from 2014 about Bitcoin.

6. MicroStrategy has acquired another 55,500 BTC for ~$5.4 billion.

7. Senator Ted Cruz: I aim for Texas to be a hub for Bitcoin and cryptocurrency.

8. Former CFTC Chair says US Bitcoin Reserve "makes a lot of sense".

9. Hong Kong to eliminate capital gains tax on Bitcoin and crypto for hedge funds and family offices in bid to become global crypto hub.

10. Japan's largest electricity provider makes unexpected move with bitcoin.

🍾 Friday Fun!

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