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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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The Bitcoin Reserve Creation Frenzy Continues to Spread! The Major Blockchain Project is Also Preparing to Create a Bitcoin Reserve! Here are the Details.
Members of the Polkadot community have presented a new proposal for the establishment of a Bitcoin Strategic Reserve for the network's Treasury.
Polkadot Community Proposes Bitcoin Strategic Reserve Using Treasury Funds
The plan currently being discussed in the Polkadot governance forum proposes the allocation of 501,000 DOT to gradually purchase tBTC, a decentralized, Bitcoin-backed token.
According to the offer, the acquisition of tBTC will be carried out over one year using Hydration's Rolling Dollar-Cost Averaging (DCA) mechanism, providing a stable and risk-free entry into the Bitcoin position.
After purchase, tBTC will be deposited as liquidity into the Hydration Omnipool by utilizing the custody-free Bitcoin bridge of the Threshold Network to maintain full decentralization and asset security.
Proponents of the proposal argue that this move will diversify the Treasury's assets, provide a hedge against market volatility, and promote cross-chain liquidity within the Polkadot ecosystem. The proposal is still in the discussion phase and has not yet been put to a vote on-chain.
*This is not investment advice.
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