Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. This week, we've got a maple-flavored Bitcoin proposal from Vancouver, MARA Holdings flexing their mining muscles, Ripple's fresh stablecoin approval, and MicroStrategy's prestigious Nasdaq adventure! Get ready to dive into a world where mayors dream in Bitcoin and mining companies buy crypto by the billions! 🎮⚡️

INTEL BRIEF

🟧 Vancouver's Mayor Ken Sim is making waves with a bold proposal to integrate Bitcoin into the city's financial strategy as a hedge against inflation.

🟧 MARA Holdings makes waves with a massive $1.1B Bitcoin purchase and achieves an industry milestone by reaching 50 EH/s hashrate capacity.

🟧 Ripple Labs secures crucial NYDFS approval for its RLUSD stablecoin, marking a significant milestone in its expansion beyond XRP.

🟧 MicroStrategy's Bitcoin-heavy strategy pays off as Bloomberg Intelligence predicts its imminent addition to the prestigious Nasdaq 100 index.

Vancouver Mayor Unleashes Bold Bitcoin Plan To Battle Canadian Dollar Inflation

In what might be the most Canadian approach to fighting inflation since using maple syrup as a strategic reserve, Vancouver's Mayor Ken Sim is pushing for a groundbreaking Bitcoin adoption strategy. On December 11, Sim prepared to introduce a motion that's got more buzz than a hockey playoff game - "Preserving of the City's Purchasing Power Through Diversification of Financial Reserves – Becoming A Bitcoin Friendly City."

Here's the scoop: After watching fiat currency perform more tricks than a beaver building a dam, Sim believes Bitcoin could be the solution to preserving Vancouver's purchasing power. With its 16-year track record (practically a teenager in crypto years), Bitcoin has built what Sim calls a "solid reputation" - which in the crypto world is like saying it's survived multiple winter storms without freezing.

This isn't Sim's first crypto rodeo. Back in 2022, he was already ahead of the curve, accepting cryptocurrency donations during his mayoral campaign. Talk about putting your digital money where your mouth is! The mayor's vision isn't just pulled from thin air - he's done his homework, pointing to success stories from places like Zug and Lugano in Switzerland, Seoul in South Korea, and even El Salvador (because who doesn't look to Central America for financial inspiration?).

But wait, there's more! The proposed strategy could include accepting taxes and fees in Bitcoin, which is either the most revolutionary idea since poutine or the most interesting way to pay parking tickets, depending on who you ask. Sim's got big plans, requesting a comprehensive report by Q1 2025 that'll examine everything from feasibility to risks, because even in the crypto world, you've got to look before you leap.

Mayor Ken Sim wants Vancouver to adopt Bitcoin as part of its financial strategy to combat inflation

The plan could include accepting city taxes and fees in Bitcoin by 2025

A comprehensive study on the feasibility and risks will be conducted before any major decisions are made

Mining Behemoth MARA Flexes Hard With $1.1B Bitcoin Buy While Smashing Hash Records

MARA Holdings just dropped a cool $1.1 billion on Bitcoin like it was shopping at a digital currency discount store. On December 10, the mining heavyweight scooped up 11,774 Bitcoin at an average price of $96,000 per coin.

MARA has just become the first public Bitcoin miner to hit 50 exahashes per second (EH/s), which is basically like having the processing power of a million supercomputers (okay, I might be exaggerating, but you get the point!). Their CEO, Fred Thiel, couldn't resist a humble brag on X, saying they've got "more miners on the shelf" - because apparently, 50 EH/s just isn't enough for these overachievers!

Speaking of achievements, MARA's Bitcoin treasure chest now holds 40,435 BTC, worth a whopping $3.92 billion at current prices. They're following what I like to call the "squirrel strategy" - hoarding their mined Bitcoin like nuts for winter, similar to MicroStrategy's playbook. And they're not doing too shabby with their "BTC Yield" either, boasting a 12.3% return in Q4 and an impressive 47.6% for the year.

However, it wasn't all moonshots and lambos - MARA's shares were up by 2.08% today to $23.28 at the time of writing this. While there overall gain was 586% surge in 2023.

Meanwhile, Bitcoin's been doing its usual roller coaster impression, sitting at $100,240 after recently touching a spicy new all-time high of $104,000.

MARA Holdings purchased 11,774 Bitcoin for $1.1B, bringing their total holdings to 40,435 BTC

They've become the first public Bitcoin miner to achieve 50 EH/s hashrate

Despite the massive Bitcoin purchase and hashrate milestone, MARA's stock declined 4.4%

Ripple Launches USDT Challenger As New York Gives Green Light To RLUSD Empire

Ripple Labs just got the thumbs up from New York regulators for their RLUSD stablecoin, and they're not playing small ball! CEO Brad Garlinghouse dropped this news on December 10.

Speaking of ambitious plans, Ripple's got their sights set higher than a space-bound rocket - they're eyeing a market cap of $2 trillion by 2028 for their RLUSD stablecoin. That's not just reaching for the moon; that's aiming for a whole different galaxy! To put that in perspective, the current big players USDT and USDC are sitting pretty at a combined $180 billion market cap.

The stablecoin will be backed by good ol' Uncle Sam's favorites: USD deposits, short-term Treasury bonds, and other cash equivalents. And for those worried about XRP feeling left out, Ripple's president Monica Long assures us that RLUSD will be "complementary and additive" to XRP.

The company's already got quite the party lined up, with exchanges like Uphold, Bitstamp, and Bitso ready to join the RLUSD dance floor. And while Garlinghouse is busy planning this stablecoin soirée, he's also making TV appearances on 60 Minutes and still duking it out with the SEC over XRP. Because apparently, running a groundbreaking stablecoin project isn't enough excitement for one company!

NYDFS has approved Ripple's RLUSD stablecoin, with exchange listings coming soon

Ripple ambitiously targets a $2 trillion market cap for RLUSD by 2028

The stablecoin will be fully backed by USD deposits, Treasury bonds, and cash equivalents

MicroStrategy Storms Into Nasdaq 100 As Bitcoin Play Creates Wall Street History

Michael Saylor's Bitcoin-buying bonanza is about to earn MicroStrategy a seat at the cool kids' table! Bloomberg Intelligence is betting their bottom Bitcoin that MSTR will join the Nasdaq 100 on December 23rd, and this isn't just your average Wall Street gossip.

Think of it as the corporate equivalent of getting verified on X - MicroStrategy will officially be among the Nasdaq's 100 largest stocks by market cap. Not bad for a company that basically turned into a Bitcoin fanclub with a side of software business! According to Bloomberg's Eric Balchunas, MSTR is expected to strut into the index with a 0.47% weight, making it the 40th biggest holding. That's like getting automatic invites to all the fancy Wall Street parties!

But here's where it gets really juicy - this move will expose MSTR to a whopping $550 billion in institutional capital that tracks the index. The company will be rubbing shoulders with tech giants in the Invesco QQQ Trust, which manages a casual $322 billion. (In an ironic twist, they're reportedly replacing Moderna - I guess Bitcoin is the new vaccine)

And speaking of numbers that'll make your head spin, MicroStrategy's Bitcoin shopping spree has turned $25 billion into an eye-watering $42 billion worth of Bitcoin. That's approximately 425,000 BTC. The strategy has helped MSTR surge about 2,500% since 2020, outperforming practically everyone except Nvidia. Even better? The stock's trading at double the value of its Bitcoin treasury, because apparently, having your cake and eating it too is totally possible in crypto land!

MicroStrategy (MSTR) is expected to join the Nasdaq 100 on December 23rd with a 0.47% weighting

The inclusion will expose MSTR to over $550 billion in institutional capital flows

Company's Bitcoin holdings (425,000 BTC) are now worth $42 billion, showing $17 billion in unrealized profits

And that's a wrap, my lovely PoI readers! I hope this edition left you feeling informed, entertained, and maybe even a little bit richer (in knowledge, of course). Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five! 🙌✨

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community! 📣❤️ Share the newsletter

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