Crypto Hits ‘Banana Singularity,’ Bybit Pauses India Operations, and Further Updates: Hodler’s Digest, Jan. 5 – 11

Hey there! Let’s dive into some exciting crypto news from the past week!

First up, New Hampshire and North Dakota are making moves by introducing bills for a Strategic Bitcoin Reserve. Lawmakers in these states are looking to diversify state treasuries by including digital assets, with New Hampshire’s bill cleverly avoiding the word “Bitcoin” to prevent political tensions.

In another interesting development, Meta shareholder Ethan Peck has proposed that the company convert some of its cash reserves to Bitcoin as a hedge against inflation. With Bitcoin outperforming bonds by 1,262% over the past five years, it’s an intriguing suggestion worth considering.

Switching gears, Bybit, a global crypto exchange, has temporarily suspended its services in India due to regulatory pressures. Starting January 12, Indian users will be unable to trade on the platform, but fund withdrawals are not affected.

In the financial world, a Bitwise survey revealed that over half of US-based financial advisers are more likely to invest in crypto following Donald Trump’s election win. There’s a growing anticipation for a crypto-friendly environment in the US under the new administration.

Unfortunately, things didn’t go as planned for IT engineer James Howells, who lost his legal battle to recover a hard drive containing over $770 million in Bitcoin. The hard drive, mistakenly thrown away and now in a landfill, seems out of reach due to environmental restrictions.

Wrapping up the week, Bitcoin is at $94,691, Ether at $3,271, and XRP at $2.34. The total crypto market cap sits at $3.31 trillion. Among the top performers this week are XDC Network, Bitcoin SV, and Bitget Token, while THORChain, ai16z, and others faced losses.

Stay tuned for more exciting updates in the world of crypto!