NiftyNoon: Even Altcoins Want Bitcoin: Are L1 BTC Treasuries Coming? 🟠💰🤔
Polkadot and Cardano are weighing controversial proposals to convert native tokens to Bitcoin, sparking heated debate about treasury diversification and market impact (June 16, 2025)
Nifty Thought:
A major trend is emerging as leading blockchain ecosystems look to bolster their treasuries by adding Bitcoin. The Polkadot community is currently debating a proposal to convert 500,000 DOT, valued at around $50 million, into Threshold Bitcoin (tBTC). This move would be a first for Polkadot, aiming to hedge its treasury against market volatility and signal its support for a multi-chain future. Similarly, Cardano co-founder Charles Hoskinson has proposed converting $100 million worth of ADA from its treasury into a mix of Bitcoin and stablecoins. The goal is to address Cardano's low stablecoin-to-DeFi ratio and inject much-needed liquidity into its ecosystem.
These proposals have ignited significant discussion within both communities. Proponents view the diversification into a proven store of value like Bitcoin as a prudent long-term risk management strategy, essential for operational continuity. Hoskinson argued that a $100 million sale of ADA could be absorbed by the market over time using strategies like TWAP orders to minimize price impact. However, critics are questioning the timing of these moves, pointing out that they would involve selling native tokens like DOT and ADA while they trade near yearly lows to buy Bitcoin as it holds near all-time highs. Concerns have been raised about creating additional sell pressure on the native assets, with Cardano’s ADA token already seeing a 6% dip amid the debate.
Highlighted News:
🪙 Charles Hoskinson proposes selling 5–10% of the Cardano treasury to build a Bitcoin and stablecoin basket for yield generation:
https://x.com/BitcoinNewsCom/status/1934271297866863047
⚪️ Polkadot is proposing to convert 500K $DOT (~$50M) into Bitcoin over time to build a treasury reserve:
https://x.com/CryptosR_Us/status/1933706992108900661
🌊 Byreal is here. Incubated by @Bybit_Official, born on @Solana:
https://x.com/byreal_io/status/1934085435212308789
📜 Trump Media has secured SEC approval for its S-3 filing, paving way for Truth Social stock offering:
https://x.com/ChainDesk_/status/1933639219127128124
Project and Community News:
Walmart and Amazon Are Exploring Issuing Their Own Stablecoins: https://x.com/UnHedgedChatter/status/1933523866527412379
GameStop announces upsized pricing of $2.25B in Convertible Bonds with an option for an additional $450M for a total of up to $2.7B with a term of 7 years at 0% interest: https://x.com/SwamiSees/status/1933301672337453106
According to the New York Post, a financial disclosure released by the U.S. Office of Government Ethics on June 13 shows that former President Donald Trump earned $57.36 million last year from the crypto firm World Liberty Financial: https://x.com/WuBlockchain/status/1933678525070127492
Russian police found a truck in Buryatia with 95 crypto rigs, stealing power from a 10 kV village line: https://x.com/Cointelegraph/status/1933993012498927738
Vietnam’s National Assembly approves the Law to legalise crypto: https://x.com/BitcoinMagazine/status/1934219359272190130
Ethereum Job Board is live: https://x.com/Geodework/status/1933382729816813752
The first @ethos_network XP rewards for Season 1 are LIVE: https://x.com/ethos_network/status/1933581279590600934?s=46
Circle joining forces with Matera to turn stablecoins into a payment method integrated with core banking systems: https://x.com/circle/status/1933274749427449985?s=46
Alkanes are now live on http://ordinalswallet.com: https://x.com/ordinalswallet/status/1933950394998112474
Alkanes Sniper is now live: https://x.com/lifofifo/status/1934047254987391448
BubbleMaps V2 Live on @SonicLabs: https://x.com/bubblemaps/status/1933509721174004061
Latest from @BlockScholes' insights post-$111K ATH - BTC derivatives now signal caution: https://x.com/OKXInsto/status/1930767007663993150
DCF Capital recently acquired 2.5% of the supply of DRV: https://x.com/dcfgod/status/1933633990046745009?s=
Veo-3 has been built into Yapper: https://x.com/ehalm_/status/1933618739918090479?s=61
The $REKT x @JupiterExchange Partnership, web4 & brand coins: https://x.com/osf_rekt/status/1934205665590808802
Share some of these insights on biggest challenges with onchain indexing on @DuneSim: https://x.com/Dune/status/1933879612502868236
You can now connect your Phantom wallet to make USDC on @base
payments with select @shopify stores: https://x.com/phantom/status/1933331045614825564?s=46
@AdamWeitsman adds Meebit #8369 to his long term collection: https://x.com/AdamWeitsman/status/1933568195211730994
Quick Stats:
👾 Blur ETH Daily Volume: 263.43 ETH (▲ 4.00%)
🌊 OpenSea ETH Daily Volume: 601.21 ETH (▲ 8.40%)
🟠 BTC : $106,777.35 (▲ 1.51%)
🔷 ETH: $2,612.78 (▲ 3.54%)
🟣 Solana: $156.23 (▲ 6.41%)
🟪 Polygon: $0.20 (▲ 2.60%)
Top NFT Sales:
CryptoPunks #2146: 53.50 ETH
CryptoPunks #2600: 52.00 ETH
CryptoPunks #7848: 50.00 ETH
NFT Daily Winners:
🏴☠ Captainz: 0.37 ETH (▲ 5.35%)
⛩ Azuki: 2.19 ETH (▲ 1.86%)
🏳🌈 Chromie Squiggles: 4.68 ETH (▲ 0.97%)
👾 Tensorians: 2.69 SOL (▲ 0.88%)
👩🏻 Milady Maker: 2.12 ETH (▲ 0.11%)
😡 Mad Lads: 35.03 SOL (► 0.00%)
NFT Daily Losers:
🦧 Bored Ape Yacht Club: 11.98 ETH (▼ 0.01%)
🧙♂️ Taproot Wizards: 0.16 BTC (▼ 0.13%)
🚬 CryptoPunks: 42.49 ETH (▼ 0.47%)
🐧 Pudgy Penguins: 9.10 ETH (▼ 0.88%)
💼 Ordinal Maxi Biz: 0.02 BTC (▼ 1.70%)
🧦 Bitcoin Puppets: 0.03 BTC (▼ 2.90%)
🐵 NodeMonkes: 0.03 BTC (▼ 3.25%)
🍭 Mocaverse: 1.19 ETH (▼ 5.70%)
🐱 Quantum Cats: 0.02 BTC (▼ 5.79%)
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