Bitcoin Price: $89,606

This week we have 2 institutional players who are helping with Bitcoin adoption and 1 US state that has been implementing their crypto reserve strategy.

The year is 2018 and former CEO Tim Buckley had this to say about Bitcoin.

“You will never see a fund from Vanguard on bitcoin”

…And then a few years later.

It was bound to happen ever since in Mid-2024 Buckley retired and Salim Ramji took over as CEO of Vanguard.

Why?

Salim used to work at Blackrock and he headed up the Global Head of iShares and Index Investments.

He was the person who spearheaded launching the first Bitcoin ETF for Blackrock, which by the way is the most successful ETF launch ever.

So really, it was probably only a matter of time until the crypto ETF’s made it into the Vanguard ecosystem.

But for a company called Vanguard they are very conservative… in fact, the first US based ETF was started in 1993 and Vanguard allowed people on their platform to buy their first ETF’s in 2001, so them being late to crypto should be to absolutely no one’s surprise.

Vanguard has over 50 million clients and manages more than $11 trillion in assets. If those investors decide to allocate 1% to Bitcoin, that means $110 Billion in fresh demand flooding into a market with a hard-capped supply.

Which leads into the second bit of news…

“For investors with a strong interest in thematic innovation and comfort with elevated volatility, a modest allocation of 1% to 4% in digital assets could be appropriate,” Chris Hyzy, chief investment officer at Bank of America Private Bank, said in a statement.

Now for the wealth clients over at Bank of America they couldn’t get access to it and often had to look elsewhere and that was that until this headline came out.

So with this news the wealth advisors at Bank of America can recommend up to a 4% allocation to their clients for Bitcoin and other digital assets.

That’s 15,000 new salespeople for Bitcoin and who knows how it will proliferate from there.

Texas joins Arizona and New Hampshire as states that have a Bitcoin reserve.

Another U.S. state—an actual government entity with taxpayers and balance sheets and audit committees—just walked up to BlackRock and said, “Yeah, we’ll take $5 million worth of your Bitcoin ETF.

Not only that but over time Texas wants to add in another $5 Million as well to it’s cryptocurrency coffers.

The Texas Senate passed SB 21 specifically allowing investments in cryptocurrencies with market caps exceeding $500 billion. Right now, only one asset meets that threshold.

Bitcoin.

And Texas is just the next domino and here’s the real kicker.

This isn’t just about Texas diversifying their rainy day fund. It’s about what happens when other governors look across state lines and think, “Wait... they’re doing WHAT?”

In fact sixteen states total have introduced Strategic Bitcoin Reserve legislation.

When dollars lose value, states need alternatives. When the federal government prints, state treasuries pay the price through inflation.

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