Bitcoin prices have been on the rise, trading at $66,312.32 as of 11:30 on the 26th, marking a 2.97% increase from the previous day. After a drop to $63,500 due to a decline in U.S. tech stocks, Bitcoin has rebounded and continued to gain. The previous “Trump Rally,” which had been dampened by the tech stock plunge, has recovered thanks to renewed support.
The U.S. stock market showed mixed results: the Nasdaq index fell by 160.69 points (0.93%) to 17,181.72, while the Dow Jones rose. Anticipation is building as former President Donald Trump and Senator Cynthia Lummis are expected to deliver supportive remarks for cryptocurrency at the Bitcoin Conference in Nashville, boosting market sentiment.
Independent candidate Robert F. Kennedy Jr. has announced that the federal government plans to purchase Bitcoin in proportion to gold reserves. His recent meeting with Trump in Milwaukee included a request for cooperation, and it remains to be seen if they will meet again at the Bitcoin conference.
Bitcoin Magazine and MicroStrategy have launched “Enterprise Bitcoin,” a new initiative aimed at encouraging corporate adoption of Bitcoin. This program offers extensive resources and educational content to promote global Bitcoin integration. MicroStrategy co-founder Michael Saylor revealed the initiative at the Bitcoin 2024 Conference. “Enterprise Bitcoin” will serve as a comprehensive platform for businesses, providing curated content, newsletters, success stories, and practical tools and training for executives.
Mike Germano, President of Bitcoin Magazine, emphasized that the collaboration aligns with their mission to advance Bitcoin education and promotion. Saylor highlighted that the program aims to deliver significant benefits and broad influence through various membership levels.
In Japan, SBI Holdings and U.S. asset management firm Franklin Templeton are teaming up to create a new Bitcoin ETF, with plans to launch by year-end. According to Nikkei, SBI Holdings will hold a 51% stake, while Franklin Templeton will own 49%. This joint venture represents Franklin Templeton’s entry into Japan’s digital securities and Bitcoin ETF market.
If Bitcoin ETFs become available in Japan, they could offer tax advantages. While spot Bitcoin is taxed as other income at up to 55%, Bitcoin ETFs, classified as capital income, are subject to a 20.315% capital gains tax rate. ETFs are considered capital income and can be held for up to 3 years, with potential exemptions from final reporting under specific accounts.
Although Bitcoin ETFs can only be traded during stock market hours, potentially limiting trading opportunities compared to Bitcoin’s 24/7 availability, their tax and security benefits may attract significant investment. CoinPost notes that ETFs could be advantageous for both individual and institutional investors looking for medium- to long-term holdings, and they may also become eligible for inclusion in Japan’s NISA (small investment tax exemption system).
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