Happy Friday, In A Nutshell this week:

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🚀⏰ Today’s news should be a ~4.59-minute read (752 words).

🧠 Quote Of The Week

“People throw rocks at things that shine.”

— Taylor Swift

Illinois has become the first US state to impose a direct tax on Bitcoin and digital asset transactions, taking effect in January 2027.

The tax is 0.20% on the gross value of any digital asset exchanged, transferred, or stored. It applies regardless of whether any profit is made.

The law creates a two-tier system that singles out blockchain activity while leaving every comparable financial service untouched. Industry groups say it is a powerful incentive for startups and investment to leave Illinois for friendlier states.

Square has quietly made Bitcoin payments a standard checkout option, rolling out a new toggle that lets customers pay with BTC at eligible stores directly on the Square Register.

No additional training or setup is required for staff, and no third-party integrations are needed. It simply appears as an option at checkout, making it one of the most seamless Bitcoin payment tools available to date.

When the friction disappears, Bitcoin stops being a novelty and starts being a genuine alternative to fiat payments.

Oman has launched a mandatory national Bitcoin mining pool, requiring all licensed miners in the country to join a single state-backed platform called Omanhash.

The move consolidates an estimated 10 exahashes per second of mining power under government oversight, giving the state full visibility into revenue, energy use, and newly minted Bitcoin.

Oman has invested over $700 million in mining infrastructure since 2022 and is now pulling that capacity into a controlled national framework rather than banning or restricting it.

Strategy's STRC preferred stock has hit an all-time low, dropping to $82.50 before closing at $88.59, well below its $100 par value and $90 IPO price.

STRC was designed to trade at $100 by paying a variable monthly dividend currently at 11.50%, and had spent months doing exactly that. This stability appears to have encouraged investors to take on heavy leverage to amplify their yield. When the price began to slip, margin calls triggered forced selling, pushing the price lower and triggering further liquidations.

Buyers at current levels pick up an effective yield of around 13.7%, and if STRC returns to par, they pocket an 18% return. According to analyst Jesse Myers, Strategy can cover dividends for 32 years without Bitcoin appreciating at all.

Kevin Warsh chaired his first FOMC meeting as the new Federal Reserve Chair this week, and markets were unsettled by what they heard.

Rates were held steady at 3.50% to 3.75%, but policymakers raised their inflation forecasts, reduced expectations for rate cuts, and left open the possibility of further hikes. Warsh also scrapped forward guidance entirely, adding uncertainty rather than clarity. Bitcoin fell to around $62,000.

Despite this, large Bitcoin wallets have been accumulating, exchange reserves are falling, and 79% of the supply is now held by long-term holders. The price is weak. The conviction is not.

1. UK Government pushes forward on social media ban for under-16s, and state control expansion

2. BlackRock launches new Bitcoin ETF that generates income using a covered call strategy

3. Mexican Billionaire Ricardo Salinas bets 70% of his portfolio on Bitcoin

4. BOJ raised interest rates to a 31-year high

5. France bans non-quantum-resistant encryption certificates from 2027 and mandates full quantum encryption by 2030

6. Anthony Scaramucci thinks Bitcoin will start to rally from Q4 of 2026 into early 2027

7. G7 leaders issue call to crack down on North Korea’s multi-billion-dollar Bitcoin thefts

8. Ledn says bitcoin-backed lending market could reach $1 trillion

9. Kraken launches CFTC-regulated Bitcoin perpetual futures for U.S. traders

10. Brian Armstrong calls for an overhaul of US accredited investor laws

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