El Salvador Takes a Step Back

PLUS: Czech Republic making moves, BlackRock looks to Europe, and Latin American are establishing Bitcoin Reserves

Author

Michael Stinson
February 07, 2025

Happy Friday, Maestros!

Welcome to the latest Bitcoin Renaissance update.

This week, we explore Bitcoin's shifting regulatory landscape—from El Salvador reversing its legal tender status to the Czech Republic introducing tax exemptions. Meanwhile, Bitcoin adoption accelerates in Latin America, and BlackRock expands its crypto offerings to Europe.

Maestro just released their Event Manager for Bitcoin! More information here!

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🚀 Featured Stories

El Salvador has repealed its law recognizing Bitcoin as legal tender. This decision aligns with requirements from the International Monetary Fund to secure a $1.4 billion loan. Bitcoin is no longer mandatory for transactions or tax payments in the country.

Czech Republic Exempts Long-Term Bitcoin Holdings from Capital Gains Tax. Czech President Petr Pavel has signed a bill exempting Bitcoin and other digital assets from capital gains tax if held for more than three years. This legislation, effective from mid-2025, aligns the country's regulations with the European Union's Markets in Crypto-Assets (MiCA) framework.

BlackRock to Launch Bitcoin Exchange-Traded Product in Europe. BlackRock is preparing to introduce a Bitcoin exchange-traded product (ETP) in Europe, with marketing efforts potentially starting as soon as this month. The fund is expected to be domiciled in Switzerland, marking BlackRock's first crypto-linked ETP outside the United States.

Bitcoin Treasury Adoption Grows in Latin America. Large corporations in Argentina and Brazil are increasingly establishing Bitcoin-based treasuries, mirroring the U.S. strategic BTC reserve plan. This trend signifies a growing acceptance of Bitcoin as a reserve asset in the region.

💡 Spotlight: Magisat

We are excited to feature Magisat, a platform dedicated to rare satoshis and Bitcoin inscriptions. In this spotlight, we will explore Magisat and how they're changing the Bitcoin ecosystem with their unique tools and services.

Magisat Key Features

Rare Sats Explorer: Users can browse and discover various categories of rare satoshis.

Transfer UTXO: A tool for securely sending unspent cryptocurrency balances to another wallet.

Isolate UTXO: Allows users to separate specific unspent transaction outputs from their wallet.

Instant Snipe: Enables quick and precise transaction execution, targeting specific NFTs.

Inscribe: A feature for attaching data or creating inscriptions on the Bitcoin blockchain.

Runes Listing: A partial order book system allowing users to list any amount of runes without splitting, in a 100% non-custodial manner.

Magisat Recent News

Magisat has launched an innovative referral program called the "Magisat Royalties Program, "offering a unique income opportunity for Bitcoin enthusiasts.” This program, inspired by Ethereum royalties, allows participants to earn BTC from trading fees generated by their referrals.

The program is designed for creators, influencers, and community leaders looking to earn Bitcoin while supporting their community's engagement with Bitcoin assets like rare sats, ordinals, and runes

The Future

As interest in rare satoshis, Bitcoin inscriptions, and runes continues to grow, Magisat is positioned to play a significant role in this niche market. By providing innovative tools for discovering, managing, and trading these unique digital assets, Magisat is contributing to the expansion of Bitcoin's use cases beyond simple transactions.

Learn more about Magisat here: https://magisat.io/

📣 Trending on X

Legislation that will allow the state of Utah to invest in Bitcoin passes the House and moves to the Senate for approval.

Former PayPal President, David Marcus, sells gold reserves to ape in on Bitcoin, saying its a better version of gold.

RFK Jr. said the US dollar is broken, saying Bitcoiners have it right: fix the money, fix the world.

Nasdaq has updated their SEC filing for the iShares Bitcoin ETF to enable direct Bitcoin redemptions, rather than cash-only settlements.