Bitcoin... Bima... USBD...

PLUS: Yona partners with BitcoinOS, Texas bill for strategic Bitcoin reserve, Bitcoin price forecast, and more

Author

ZUSHAN HASHMI
December 15, 2024

Happy Friday, Maestros!

We’re back again with an another edition of the Bitcoin Renaissance.

Nation states continue to focus on easing regulation on Bitcoin, increasing their holdings and growing their reserves. Meanwhile Infra as always, is not slowing down!

And, of course, Maestro continues to make the magic happen.

PS. Don’t forget to follow us on X here.

🚀 Featured Stories

Bitcoin Mining Tied to Iran's Power Blackouts: Unauthorized mining, fueled by subsidized electricity and bitcoin's rise to $100,000, is partly responsible for rolling blackouts in Iran. The state-owned power company reported abnormal power consumption by unlicensed miners, matching a major manufacturing province's needs.

Swiss Canton of Bern Approves Proposal to Explore Bitcoin Mining for Surplus Energy Utilization: The canton has passed a motion with an 85-46 vote to study how Bitcoin mining can utilize excess energy, stabilize the power grid, and promote renewable energy development, despite initial government opposition and concerns over energy consumption.

Bitcoin Forecast to Hit $150,000 by Mid-2025: Nigel Green, CEO of Devere Group, predicts bitcoin will surge to $150,000 driven by rising institutional investment and growing investor FOMO, establishing it as a 'must-have' asset in portfolios.

Texas House of Representatives Introduces Bill for Strategic Bitcoin Reserve: A new bill allows Texas to accept taxes, fees, and donations in bitcoin, held for at least five years, to boost fiscal stability and bitcoin innovation, potentially serving as a model for a national reserve.

Australian wealth manager AMP Ltd. has invested $17.2 million in Bitcoin futures, citing "structural changes" in digital assets. The 0.05% allocation reflects cautious optimism, though regulators remain skeptical of Bitcoin’s role in the economy.

💡 Spotlight: Bima and USBD

USBD, brought to life by the BIMA protocol, is a stablecoin fully collateralized by Bitcoin. Inspired by trailblazing projects like MakerDAO and Prisma Finance, USBD aims to bridge the gap between Bitcoin's volatility and the need for financial stability in decentralized finance (DeFi) and beyond. Have a closer look:

Key Features

  • Bitcoin Collateralization: USBD is backed by staked BTC (stBTC), leveraging Bitcoin's security while enabling users to earn yield on their holdings.

  • Multi-Chain Compatibility: Operates seamlessly across Bitcoin Layer 2 solutions, Ethereum Virtual Machine (EVM) chains, Solana, and more.

  • High Collateralization Ratio: Requires a minimum collateral ratio of 225%, ensuring stability and resilience even during market volatility.

  • DeFi Integration: Supports lending, borrowing, liquidity provision, and other DeFi activities, making it a versatile tool in the ecosystem.

Impact on the Bitcoin Ecosystem

USBD transforms Bitcoin’s utility by addressing its inherent volatility and expanding its use cases:

  • Enhanced Stability: By collateralizing with staked BTC, USBD provides a stable store of value while maintaining Bitcoin’s technological backbone.

  • Broader Accessibility: Its chain-agnostic design allows for integration across multiple blockchain ecosystems, fostering inclusivity.

  • DeFi Empowerment: Enables stablecoin liquidity pools, lending platforms, and other financial instruments without compromising decentralization.

Real-World Use Cases

USBD unlocks a wide range of applications that extend beyond traditional crypto markets:

  1. Remittances: Facilitates low-cost, fast cross-border payments for migrant workers.

  2. E-commerce: Provides online retailers with a stable payment option backed by Bitcoin's security.

  3. Savings and Investments: Offers individuals a secure way to save and invest without exposure to Bitcoin’s price swings.

  4. Disaster Relief: Ensures rapid and transparent distribution of aid during crises.

  5. International Trade: Reduces currency exchange risks for businesses engaged in global commerce.

The Future

BIMA envisions USBD as more than just a stablecoin—it’s a catalyst for financial inclusion and innovation. By integrating with Web2 payment processors and forging partnerships with platforms like ALEX Protocol and OKX Wallet, BIMA is paving the way for mainstream adoption of Bitcoin-backed stablecoins.

As USBD continues to grow its TVL and expand its ecosystem, it promises to redefine how we interact with money—bridging traditional finance with the decentralized future.

Learn more here.

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