Bitcoin News

Michigan State Pension Fund Invests $6.6 Million in Bitcoin

Michigan State Pension Fund Invests $6.6 Million in Bitcoin

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Michigan’s state retirement fund has become the 2nd state fund (following Wisconsin) to invest a portion of it’s employees’ retirement funds into Bitcoin, via an ETF.  Their allocation amounts to 4.6% of the fund’s assets, which is a truly meaningful allocation (mirroring what many financial advisors are now beginning to advise clients).  There have been numerous efforts of outreach to Michigan’s lawmakers over recent years.  Proposals have ranged from utilizing the Michigan budget surpluses to hold Bitcoin as a strategic reserve asset, to laws protecting individual rights and freedoms around holding and using Bitcoin.

Michigan continues to be a leader state in Bitcoin-related initiatives.  From its large number of Bitcoin meetups & events, to its circular economic initiatives, Michigan is quickly becoming the nation’s leader in bitcoin adoption.

 

Javier Milei Defends Free Markets & Slams Monetary Debasement at Davos

Javier Milei Defends Free Markets & Slams Monetary Debasement at Davos

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Block 826308: New Argentine President Javier Milei, fresh off leading the government to allow contracts to be denominated in Bitcoin, took the stage at Davos this week to denounce collectivism, monetary debasement, and free market meddling.  This is a speech everyone in favor of sound money should check out:

Some selected quotes:

“The problem with neoclassical (economists) is the model they love so much does not match reality, so they attribute their own mistakes to the supposed market failure, rather than reviewing the premises of their model.

On the pretext of the supposed market failures, regulations are introduced, which only create distortions in the price system, preventing economic calculation, and therefore, also prevent savings, investment, and growth.”

“Today’s states don’t need to directly control the means of production to control every aspect of the life of individuals. With tools like printing money, debt, subsidies, control of the interest rate, price controls, and regulations to correct the so called market failures, they can control the lives and fates of millions of individuals.”

Previously, Milei has this to say about Bitcoin: “The central bank is a scam, a mechanism by which politicians cheat the good people with inflationary tax […] Bitcoin represents the return of money to its original creator, the private sector […] it prevents politicians from robbing you through inflation.”

Perhaps this speech, a defense of freedom and decentralized market forces, right in the heart of the biggest gathering of central planners, could be a moment we’ll look back on as being meaningful in the fight for freedom.