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The parliament of the Swiss canton of Bern has approved a motion to study the feasibility of Bitcoin mining, despite opposition from the Government Council. The report will explore potential energy sources, collaboration with local miners, and the impact on grid stability, drawing inspiration from Texas's energy policies. Proponents argue that Bitcoin mining could attract jobs and promote renewable energy, while critics highlight concerns over energy consumption and market volatility.
The parliament of the Swiss canton of Bern has approved a motion to commission a report on the feasibility of Bitcoin mining, despite opposition from the Government Council. The report will explore potential energy sources, collaboration with local miners, and the impact on grid stability, drawing inspiration from Texas's energy policy.Supporters view this as a significant victory, aiming to attract mining companies and promote renewable energy use. The Government Council raised concerns about energy consumption and market trends, while Switzerland continues to maintain a pro-crypto stance, with notable support from figures like Ripple CEO Brad Garlinghouse.
Bitcoin supporters celebrated as Bernie Moreno defeated incumbent Ohio Senator Sherrod Brown, a key figure against crypto, in a race heavily funded by the crypto industry. With $40 million spent, Moreno's victory signals a shift towards a more pro-crypto Congress, as over 219 crypto-friendly candidates were elected nationwide. Following the election, Bitcoin surged to a record high above $75,000, reflecting the industry's optimism.
Crypto's political spending surged to over $245 million in the 2024 election cycle, with the largest super PAC, Fairshake, investing heavily in key races to support pro-crypto candidates like Steven Horsford in Nevada. Ads often focused on traditional issues rather than crypto, aiming to appeal to a broader voter base. Notably, $40 million targeted Ohio Sen. Sherrod Brown, a vocal critic of the industry, highlighting the strategic approach of crypto advocates in shaping electoral outcomes.
Bitcoin's value surged over 400% from November 2020 to November 2024, while Solana skyrocketed nearly 11,000%. Despite regulatory challenges, the crypto market has made significant strides, with stablecoin assets under management increasing to $177.83 billion. Looking ahead, the market is expected to continue its growth trajectory beyond the 2024 US elections, driven by ongoing innovations and adoption in decentralized finance and tokenization.

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