GM Explorer,

As Bitcoin continues to gain traction and solidify its influence, it’s becoming a go-to asset for many investors and institutions, but not everyone’s jumping on the bandwagon.

A good example is Microsoft, which has firmly decided to keep its wallet close to Bitcoin. And the reason for their decision? Let’s just say it might surprise you.

Here’s what we got for you today:

• ❌ Microsoft Rejects Bitcoin Investment!

• 🤯 Italy ditches 42% crypto tax!

• 🔎 Market Insight

• 🧱 Around the Block: Ripple’s RLUSD Stablecoin wins approval from the New York Department of Financial Services (NYDFS).

❌ Microsoft Rejects Bitcoin Investment!

Microsoft shareholders have officially shut down a bold proposal that would’ve seen the tech giant leap into the world of Bitcoin.

The idea was to diversify 1% of Microsoft’s massive $78 billion cash reserves into Bitcoin as a way to hedge against inflation. 

However, much to the crypto crowd's disappointment, the board wasn’t on board with the idea.

Their reason? Bitcoin’s infamous volatility.

It turns out Microsoft prefers its investments calm, predictable, and drama-free—because, really, who wouldn’t prefer “steady income” over “wild rollercoaster rides”?

Well, maybe not MicroStrategy’s Michael Saylor.

The ever-passionate executive chairman wasn’t about to let this one slide without a fight.

In a pre-recorded pitch, Saylor went all out. (Really, you should see it; it was epic!)

He argued Microsoft had essentially left $200 billion on the table over the last five years by prioritizing dividends and stock buybacks instead of embracing Bitcoin.

He didn’t stop there; he hyped Bitcoin as “the greatest digital transformation of the 21st century” and “the highest-performing uncorrelated asset.”

Oh, and let’s not forget this little jab—Bitcoin, he said, was outperforming Microsoft by 10x annually. Talk about throwing shade!

He also made a case that buying Bitcoin would be a smarter move than buying back Microsoft stock or holding onto bonds.

But despite his passionate plea and colorful metaphors, the board wasn’t budging. Bitcoin, they insisted, is too risky for Microsoft’s cautious investment strategy.

So, for now, Microsoft is sticking to its tried-and-true approach, reassuring everyone that they do consider Bitcoin—just not as a priority.

And after all the back-and-forth, the markets barely blinked.

Microsoft shares stayed steady at $446, while Bitcoin dropped over 4% to $95,000 in the 24 hours following the vote.

Sure, it wasn’t the groundbreaking shift the crypto world hoped for, but hey, Saylor got his moment to speak his mind and even got to throw in some memorable soundbites, too.

Want to dive deeper into the story? Full details right here.

🤯 Italy Ditches 42% Crypto Tax!

Italy is rethinking its plans to impose a hefty 42% tax on crypto capital gains.

Reports show lawmakers are now considering a kinder cap of 28% or possibly keeping the current 26% rate, despite intense industry pushback and internal disagreements.

This shift highlights a growing understanding of the crypto market's potential to boost the economy.

Lawmakers are concerned that steep taxes could push crypto transactions underground—definitely not what anyone wants!

As Italy works on its 2025 budget, this move could make the environment more favorable for digital asset investments.

With other countries adjusting their crypto tax strategies in Russia and the Czech Republic, it’s clear that the global conversation around cryptocurrency is evolving.

Click here to dive deeper into the full story!

🔎 Market Insight

Yesterday, many altcoins returned to key levels, confirming these levels as support.

TIA is one example of this trend.

It has also achieved a Golden Cross.

For those unfamiliar with the term, a Golden Cross is a bullish breakout pattern that forms when a short-term moving average (like the 50-day moving average) crosses above a long-term moving average (such as the 200-day moving average).

This indicator generally has three stages:

1. The first stage requires a downtrend to bottom out, with buyers overpowering sellers — something we witnessed with TIA.

2. In the second stage, the 50-day moving average crosses over the 200-day moving average, triggering a breakout and confirming the reversal of the downtrend. TIA got this confirmation today.

3. The final stage is a continuing uptrend following the crossover. During this stage, the moving averages serve as support levels on pullbacks. TIA has not yet reached this stage; however, coins such as SOL, SEI, APT, and others found support at the 50-day moving average yesterday after a significant pullback.
   
   

   

   SOLUSDT Daily Chart

   
   Here's SEI's chart
   

   

   SEIUSDT Daily Chart

We believe the bottom is in and that the trend has flipped bullish.

However, based on the phenomenon we discussed in yesterday’s piece, Bitcoin usually experiences a major downtrend during weeks 6, 7, and 8 of the parabolic phase, and since we are still in week 6, we need to be cautious.

Even though we believe the downtrend is over, we cannot overlook Bitcoin's seasonality.

We suggest holding some cash to buy the dip in case the market experiences further declines.

Keep an eye on the 200-day moving average (MA) for potential support in the future.

By the way, if you'll like to know when this bull run might potentially end, watch this video:

🧱 Around The Block

• Ripple’s RLUSD Stablecoin wins approval from New York Department of Financial Services (NYDFS).

• Bitcoin retail panic selling meets aggressive institutional buying on Coinbase.

• El Salvador and Argentina regulators sign agreement to help develop Crypto Industry.

• Amazon shareholders give the green light to buying Bitcoin.

• Google’s Quantum success won’t threaten Bitcoin security, experts say.

• Bitcoin will eventually be seen as 'Just Money', says Binance co-founder CZ.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.