The Texas Senate passed a bill on March 6 to create a Bitcoin and cryptocurrency strategic reserve.

Stocks and crypto have been battered by the president's push to tax goods from America's largest trading partners.

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Texas Senate has just voted in favor of a strategic Bitcoin reserve bill (SBR). The bill (SB21) has passed in a 25-5 vote.

Bhutan has quietly amassed nearly $1 billion in bitcoin reserves through sustainable hydroelectric mining, using the cryptocurrency to fund public services and positioning it as a strategic financial model for nations grappling with economic instability.

Bitcoin is currently trading at $90,800 after a strong 13% rebound from the $81,000 level, as bulls attempt to regain control of price action. After days of volatility and uncertainty, Bitcoin's recovery has renewed optimism in the market, but traders remain cautious as BTC faces key resistance levels.

Bitcoin is hardly giving bullish cues despite a BTC reserve potentially being announced by the US within 24 hours.

Mt. Gox is moving its Bitcoin again. On Thursday, the long-defunct crypto exchange moved over $1 billion worth of Bitcoin to an unmarked address.

The Trump-backed World Liberty Financial also revealed plans to hold Sui, sending the price of that token surging Thursday.

Michael Saylor sees the Crypto Summit as key to making Bitcoin the U.S. reserve asset. Industry leaders at the Crypto Summit will discuss regulations and crypto adoption.

White House crypto czar David Sacks claimed Thursday that the federal government's lack of a "long-term strategy" on cryptocurrency has negatively impacted American taxpayers.

Bitcoin derivatives traders are ramping up leveraged positions and boosting open interest ahead of Friday's White House Crypto Summit.

Banking behemoth JPMorgan expects Bitcoin to remain under pressure in the near future, CNBC reports.

Bitcoin and the altcoins selected for the US crypto strategic reserve could stay range-bound in the short term, barring a blockbuster announcement on March 7.

El Salvador President Nayib Bukele says his country will continue accumulating Bitcoin (BTC) despite rumors suggesting otherwise. El Salvador first adopted BTC as legal tender in 2021, but recent pressure from the International Monetary Fund (IMF) related to a recently approved $1.

China's economic stimulus measures and Friday's highly anticipated White House Crypto Summit helped the cryptocurrency enter $90K territory. As Bitcoin Tops $90K, All Eyes Turn to White House's High-Stakes Crypto Summit Bitcoin traded as high as $92,804.

As new details unfold, Bitcoin may see volatility, creating breakout or pullback opportunities.

"Bulls are stepping in to defend key support levels," Ali Martinez claimed.

In a surprising turn of events, Democrats in Washington DC are increasingly embracing Bitcoin, according to Dennis Porter, president and co-founder of Satoshi Action Fund. Porter, a key figure behind efforts to establish strategic bitcoin reserves in over 30 US states, believes that the decentralized nature of Bitcoin aligns well with core Democratic values.

Crypto analyst Master Ananda has asserted that the bottom is in for the Bitcoin price following its massive crash below $80,000 last week. In line with this, the analyst revealed what to expect next from the flagship crypto.

Former U.S. President Donald Trump's decision to expand the country's crypto reserves by adding XRP, Solana (SOL), and Cardano (ADA) alongside Bitcoin (BTC) and Ethereum (ETH) has stirred up the cryptocurrency community.

JPMorgan sees less than a 50% chance of a U.S. strategic crypto reserve gaining approval, citing congressional hurdles.

XRP price is showing strong bullish momentum, with analysts pointing to key resistance levels that could determine its next major move. Recent technical analysis indicates that the Ripple token has successfully broken through its 4-hour resistance level, strengthening the case for a continued rally.

Bitcoin price wavered on Thursday as investors embraced a risk-off sentiment amid the ongoing trade war between the U.S. and its top trading partners.

Crypto exchange Crypto.com's market data will soon be integrated into real-time indices and reference rates for Bitcoin and Ethereum markets. This comes as CF Benchmarks, a crypto indices provider regulated by the United Kingdom's Financial Conduct Authority, has added Crypto.

Sacks faced scrutiny over potential conflicts of interest but confirmed he sold his crypto assets before joining the Trump administration.

Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA) are showing signs of stabilization after recent volatility. Bulls are attempting to regain control, with BTC bouncing off key support, ETH testing critical levels, and ADA showing resilience despite market pressure.

Russian Deputy Finance Minister Vladimir Kolychev's statement on Wednesday that Bitcoin (CRYPTO: BTC) will not be included in the National Wealth Fund mirrors President Vladimir Putin's historically cautious approach to cryptocurrency. What Happened: Kolychev, speaking to Interfax on Wednesday, confirmed that the country's national wealth fund will maintain its focus on gold and yuan, with allocations of up to 60% in yuan and 40% in gold, explicitly rejecting Bitcoin due to its volatility.

The Japanese context and future prospects

The crypto market is uneasy as fear is creeping in, reflected in CoinMarketCap's index sitting at 30/100, a clear sign of bearish sentiment among traders. Yet, something unexpected is happening.

Pi Network remains in a price-discovery phase after its recent mainnet launch. After initially rising to $2.98 on February 28, the token has crashed to $1.8, mirroring the price action of other altcoins.

The highly anticipated White House Crypto Summit could bring game-changing developments for Bitcoin.

The U.S. Federal government sold roughly 195,000 Bitcoin over a decade, pocketing an estimated $366 million from criminal seizures like Silk Road.

Bitcoin (BTC) has been experiencing high volatility in recent trading as investors have proved exceptionally reactive to rumors and news.

On March 6, the company announced that it had started purchasing BTC. It is joining a growing number of traditional finance companies incorporating Bitcoin into their portfolios.

According to a March 6 report by The Korea Herald, South Korea's Democratic Party has indicated that it could revamp the country's crypto policy.

BlackRock's Bitcoin holdings are up as the crypto market extends its recovery in Thursday's trading session. According to blockchain analytics platform Lookonchain, on March 6, the group of 10 Bitcoin ETFs saw a positive net inflow of 80 BTC worth $7.22 million, with BlackRock's iShares Bitcoin ETF leading the charge.

Bitcoin Magazine Brazilian Publicly Traded Méliuz Adopts Bitcoin Treasury Strategy Brazilian Publicly Traded Méliuz Adopts Bitcoin Treasury Strategy This post Brazilian Publicly Traded Méliuz Adopts Bitcoin Treasury Strategy first appeared on Bitcoin Magazine and is written by Vivek Sen Bitcoin.

TL;DR Michael Saylor reaffirms that Bitcoin should be the central asset in the U.S. crypto reserve, emphasizing its decentralized nature and dominant role in the digital economy. Donald Trump initially included XRP, Solana, and Cardano in the reserve, but after criticism, he clarified that only Bitcoin and Ethereum would be part of the plan.

El Salvador appeared to contradict a recent agreement with the IMF to cease public investment in Bitcoin.

David Sacks' observation mirrored President Donald Trump's initial vision for a “strategic Bitcoin stockpile.”

Schwartz defended the company's XRP sales strategy, emphasizing its role in funding ecosystem growth, refuting claims of unlimited token creation, and asserting that Ripple acts in its own interest while addressing concerns over dormant XRP holdings.

The crypto market continued its upward trajectory, with the market cap increasing by over 4% to reclaim the $3 trillion mark. Most cryptocurrencies traded in positive territory, and Bitcoin (BTC) reclaimed the $90,000 level after an increase of nearly 6% over the past 24 hours.

After a spree of enforcement actions against criminal activity, the US stacked an impressive amount of Bitcoin over ten years. Crypto Czar David Sacks argues that selling the confiscated Bitcoins for a pittance has cost US taxpayers a fortune ahead of the planned Crypto Strategic Reserve.

One of the core promises that XRP (XRP 4.66%) extends to its target users -- financial institutions -- is that they'll be able to transfer their money more quickly and more cheaply if they use the token instead of using an alternative technology. The token's feature set is expanding to include the ability to make the same snappy transfers of other assets, too.

The US government's lack of a long-term Bitcoin strategy highlights missed financial opportunities and raises concerns about asset management. The post Trump's crypto czar David Sacks says US government missed out on $17 billion by selling Bitcoin too early appeared first on Crypto Briefing.

The crypto market's volatility index could shoot up further this Friday as investors brace for the upcoming White House digital currency summit. Trump's announcement of a US Crypto Strategy Reserve last weekend set off a wave of market reactions.