Bitcoin marked a historic year as it established itself as a mainstream financial instrument with the launch of Bitcoin-focused ETFs in January that attracted over $113.5 billion in institutional demand. By the end of 2024, institutional adoption expanded, with companies like MicroStrategy planning further Bitcoin purchases and amassing over 444,000 BTC since 2020. Meanwhile, Crypto.com introduced a US institutional custody service to enhance its presence in North America. In regulatory news, Russia approved a partial mining ban set to last six years in ten regions, while the IRS reaffirmed that staking rewards are considered taxable income upon receipt. This week’s update highlights MicroStrategy’s ambition to expand its Bitcoin holdings and developments in cryptocurrency custody and regulation, shaping the financial landscape closer to the ethos of decentralization while navigating evolving investor and regulatory environments.

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