Bitpush Editor's Daily Selected Web3 News:
【BTC Reaches Historic High, Approaching $110,000】
BTC surged to a historic high of approximately $109,400 during Wednesday's US stock trading session, 121 days after the previous peak, and has accumulated a 47% increase since bottoming at $74,508 on April 9.
Jag Kooner, Bitfinex derivatives head, stated that this new high emerged after a "near-perfect setup" driven by geopolitical easing, improved regulatory environment, and macroeconomic tailwinds.
【Texas May Become Third US State to Establish Strategic BTC Reserve】
Texas Blockchain Council founder and chairman Lee Bratcher told The Block that Texas is likely to soon become the third state to establish a strategic Bitcoin reserve.
Bratcher believes Governor Greg Abbott will sign the bill into law if passed by the state legislature. On Wednesday, Texas legislators overwhelmingly voted to pass Senate Bill 21, which allows establishing a Bitcoin reserve.
If Governor Greg Abbott ultimately signs the Bitcoin bill (Bratcher expects it within "one or two weeks"), Texas will become the third state after New Hampshire and Arizona to sign such legislation.
【"TRUMP Token Dinner" to be Held Early Morning Beijing Time on 23rd】
According to foreign media, US President Trump will invite the 220 largest TRUMP token holders to a dinner, with the top 25 having the opportunity to visit the White House.
The dinner will be held at Trump National Golf Club in Potomac Falls, Virginia. All invited guests must complete a background check. While the 220 invitees remain anonymous, some have publicly confirmed attendance, including Justin Sun, a representative from Singapore crypto company MemeCore, and Australian crypto investor Warwick.
【TRON Founder Justin Sun Holds $21.9 Million TRUMP Tokens, Becoming Largest Holder】
According to CoinDesk, TRON founder Justin Sun confirmed he is the largest holder of the TRUMP concept token, holding $21.9 million worth through an associated Solana address. This holding qualifies him for a private dinner with the US President in the Washington DC area.
Sun has previously invested $75 million in the DeFi project World Liberty Financial, supported by the Trump family.
【Arthur Hayes: Bitcoin May Hit $150-200K by Late Summer, ETH Reaching $5000 by Year-End Considered Successful】
Arthur Hayes revealed in a Bankless YouTube interview that his family office Maelstrom's crypto asset portfolio is primarily dominated by two market cap leaders, with approximately 60% allocated to BTC, 20% to ETH, and the remainder to various Altcoins and token investment term sheets.
Hayes believes Bitcoin will target the $150-200K range from now until late summer, potentially reaching $250,000 before the end of 2026. He considers ETH reaching $5000 by year-end successful, which would restore market confidence and potentially drive the bull market cycle to $10-20K.
He also noted that an Altcoin season is inevitable, but likely won't involve tokens with inflated valuations and minimal circulation.
【Bitcoin Miners Sold 115% of Production in April, Highest Ratio Since 2022 Bear Market】
Despite BTC reaching a historic high of $109,000, miners were forced to sell a record Bitcoin reserve in April. Public miners sold 115% of their production, the highest ratio since the 2022 bear market.
The primary reason is continued pressure on mining revenue (Hashprice), currently around $55/PH/s, significantly lower than during the previous BTC peak. High network difficulty and low transaction fees have exacerbated revenue pressures.
Despite challenges, top miners like CleanSpark and IREN continue expanding computing power. Mining companies are also changing hardware acquisition methods, with some signing agreements to pay for mining machines with BTC while retaining buyback rights.
Mining stocks have rebounded after a challenging first quarter, with some rising over 60% in April, though most remain down year-to-date. Only CleanSpark and MARA Holdings have seen stock price increases.
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