Bitcoin News: LayerZero to Integrate With Bitcoin Sidechain Rootstock

LayerZero, a bridging protocol, announces plans to integrate with Bitcoin sidechain Rootstock, marking its first integration with the original blockchain. The move aims to overcome Bitcoin's limitation of not having native smart contracts.

LayerZero to Connect With Bitcoin Sidechain Rootstock

LayerZero, a bridging protocol enabling communication between different crypto networks, plans to integrate with Bitcoin sidechain Rootstock. This marks LayerZero's first integration with the original blockchain. Rootstock aims to end Bitcoin's isolation from other chains by addressing its lack of native smart contracts, a limitation that LayerZero can overcome.

Strategy Maintains Bitcoin Holdings at 478,740, No New Purchases in Last 7 Days

Michael Saylor of Strategy announced that the company didn't purchase new Bitcoins last week, keeping its holdings steady at 478,740 BTC. The company, known for its Bitcoin-focused business model, has invested over $31 billion in the cryptocurrency since 2020. No new funds were raised through the sale of class A common stock, leading Strategy to pause its aggressive Bitcoin buying.

Utah and Montana Advance Crypto Reserve Bills

Utah and Montana are leading the race among 20 US states to establish crypto reserves, with Utah's House Bill 230 passing the House voting and Montana's House Bill 429 advancing through the committee stage. If approved, these states could allocate public funds to Bitcoin, stablecoins, and large-cap altcoins.

Montana House Committee Advances Bill to Allow Bitcoin as Reserve Assets

Montana’s House Business and Labor Committee has approved a bill, House Bill No. 429, that could enable the state to hold Bitcoin and other cryptocurrencies as reserve assets. The bill passed on February 19 with a 12-8 vote, receiving full support from Republican members while all Democrats opposed it. If enacted, the bill would establish a special revenue account for investing in precious metals, stablecoins, and digital assets with an average market capitalization exceeding $750 billion over the past year. Currently, Bitcoin (BTC) is the only cryptocurrency meeting that threshold.

Avenir Group Solidifies Position as Asia’s Largest Bitcoin ETF Holder

Hong Kong-based Avenir Group, a major institutional player in the digital asset market, has revealed a significant $599 million investment in Bitcoin ETFs, positioning it as Asia’s largest institutional holder of Bitcoin ETFs. This move underscores Avenir’s confidence in the future of digital assets and marks a pivotal moment in its brand evolution and business strategy.