Frontier narxFRONT

A Bitcoin-focused bill has been introduced in the Minnesota state senate, aiming to modernize the state’s financial system and encourage cryptocurrency adoption. The Minnesota Bitcoin Act (SF2661), sponsored by Senator Jeremy Miller, aims to legalize Bitcoin and affirm the possibility of using digital currencies for state-related transactions. If enacted, the bill would allow the Minnesota State Board of Investment to invest state money in Bitcoins and other virtual currencies in the same way that it invests in stocks or bonds. Likewise, state employees may choose to incorporate the Bitcoin investment into their employee retirement funds, which will expand investment opportunities. The bill also allows residents to pay taxes and fees to the state using Bitcoin. This amplifies similar actions that are being undertaken by other states, such as Colorado and Utah, which are trying to incorporate virtual assets into the economy. One of the provisions of the legislation relates to the taxation of cryptocurrency income. Some Bitcoin and other digital asset gains would be eligible for deductions that can help reduce assessable income. As noted by Miller, this approach sought to bring in more investments from the cryptocurrency realm and also offer benefits to residents on the economic front. Miller emphasized that the use of digital currencies is prevalent, and Minnesota had to be at the forefront of this movement. He said that cryptocurrencies can bring new financial prospects and increase the economic potential of the state. “I believe global digital currencies are here to stay, and it’s inevitable that they become more and more mainstream,” Miller noted. Minnesota follows other states that are considering bills for investing in crypto assets. Both Arizona and Texas have come up with similar bills, which shows the growing adoption of state legislation on digital assets. On March 11, lawmakers of the Texas House of Representatives submitted House Bill 4258, which proposes that the state’s chief financial officer invest up to $250 million of the state’s economic stabilization fund in Bitcoin and other cryptocurrencies. Arizona’s Senate also passed the Strategic Digital Assets Reserve bill (SB 1373), which seeks the creation of an Arizona Digital Assets Reserve Fund under the management of the Arizona State Treasurer. At present, at least 18 states are considering crypto reserve bills. As CNF recently reported, Oklahoma passed the Bitcoin Freedom Act, allowing state employees to accept, make or receive payments in Bitcoin. These measures align with a national debate on the use of cryptocurrencies. In July, United States US Sen. Cynthia Lummis introduced the Strategic Bitcoin Reserve Act and recommended the US government buy one million BTC within five years. Lummis recently reintroduced the BITCOIN Act on March 12, suggesting that the government will amass more of Bitcoin beyond this initial target. Bitcoin adoption in the United States has already grown with the ETFs, but the community is expecting more with an American Bitcoin-backed reserve.

Theory: 1. Between 2009-2020 the elite in the USA hoped Bitcoin wouldn’t catch on 2. But in the 2020 cycle they understood that it won’t die, and therefore they had to find a strategy to stack as much as possible on low prices 3. They chose to do a controlled demolition of The Dollar by printing it while stacking bitcoin in silence 4. They also implemented Futures ETFs to manipulate the price 5. They didn’t want to go all in at once because that would instantly kill the fiat system and make plebs insanely rich 6. They want to create FUD, print money and shake out as many plebs as possible on the way 7. China is now seeing the same as USA, and has implemented In-Kind BTC ETFs in Hong Kong 8. Also large companies, banks and hedge funds in the USA have started buying BTC 9. Rumors are that several countries are now front running USA and have stacked more than 100k BTCs 10. We are close to the suddenly moment for Bitcoin where China, Russia, Saudi and USA print their own fiat to shreds to drive the price to infinite fiat and destroys the Fiat system

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JasmyCoin (JASMY) has busted out of a symmetrical triangle setup, which is bullish, according to analyst Crypto front. Price is at $0.01417, trying to go up. The price, however, may be held back from going up higher by steep resistance between $0.01500 and $0.01600. This coming week might be the one that informs us whether JASMY continues to go up or gets rejected . JASMY bulls have managed to push the price above the symmetrical triangle, confirming a breakout. The breakout candle shows increased buying pressure, suggesting a potential upward continuation. However, the price remains below a major supply zone. This region, between $0.01500 and $0.01600, previously served as strong support before a sharp breakdown occurred. If JASMY reclaims this area, it could confirm a shift in market structure. The measured move from the breakout suggests a 27.03% price increase, setting a target of approximately $0.01700. However, this depends on whether the macroeconomic environment supports bullish sentiment. Stock markets and gold prices may influence JASMY’s momentum. Moreover, liquidity remains high, with a tight bid-ask spread. The buy price stands at $0.01418, while the sell price is $0.01417. This indicates strong market participation and interest in JASMY at current levels. The 1-hour chart reflects a previous downtrend, followed by consolidation and a bullish breakout. Higher lows formed before the breakout, further strengthening the bullish case. If JASMY breaks above the supply zone , bullish momentum could extend toward the next resistance at $0.01700. Conversely, if sellers re-enter the market, the price may retest lower support levels. Besides, traders should watch for price reactions within the key resistance zone. A clean breakout and retest above this level could confirm a stronger uptrend. Otherwise, rejection at resistance might lead to a pullback. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.