“BlackRock, Bitcoin, and the Next Phase of the Game”

Welcome back to The Bitcoin Street Journal, your go-to signal through the noise — where memes meet markets, and cypherpunk meets Wall Street. Today, we’re digging into something deeper than headlines and hype. We're unpacking a massive narrative shift that's quietly underway, even as the average investor sleeps through the sirens.

You’ve probably seen the name BlackRock splashed across your Bitcoin newsfeed lately. Yes, that BlackRock — the trillion-dollar behemoth that holds the puppet strings of the traditional financial system. The same BlackRock that once scoffed at Bitcoin is now the biggest name in the room when it comes to the U.S. spot ETF.

And look — this isn’t just about an ETF approval. This is about a tectonic shift in how Bitcoin is being perceived, packaged, and positioned. And it’s moving fast.

So let’s zoom out and trace the outlines of what’s really going on. Buckle up — because this one’s going to stretch your perspective.

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From Fringe to Front Row

Bitcoin didn’t need Wall Street’s approval. It was forged in the ashes of the 2008 financial crisis — the exact system BlackRock thrives in. For over a decade, Bitcoiners built an opt-out monetary network — grassroots, open-source, leaderless. It was mocked. It was dismissed. It was criminalized.

And then… it didn’t die.

What happened instead? It survived — and thrived. Every crash, every crackdown, every obituary printed by financial pundits just served to harden it. Now, here we are: Bitcoin is no longer fringe. It’s not just “gold for geeks” or “internet magic money.” It’s becoming the digital monetary asset of the 21st century — and the suits are finally catching up.

Every Time Bitcoin Dips: The Community’s Favorite Punchline

Ah, the Bitcoin dip – equal parts tragedy and comedy. If you’ve spent any time on Bitcoin Twitter, you know the drill: every drop in BTC price unleashes a flood of memes. From SpongeBob’s "I’m never selling" to Willy Wonka’s sarcastic "Tell me again how you bought the top," these moments are a testament to the resilience and humor of the crypto community.

But behind the jokes lies a deeper truth. Dips, for many, are golden opportunities. Michael Saylor, one of Bitcoin’s loudest champions, famously quipped: “Bitcoin could go to $1, and MicroStrategy would not get liquidated; we would just keep buying.” This sentiment reflects the diamond-handed determination of true believers, who see each correction as a stepping stone to future gains.

Let’s be honest, though: dips also test our resolve. Whether you’re a seasoned trader or a newcomer who bought the top, every market downturn is a chance to reassess, regroup, and maybe even double down. So, here’s to the dips – the spicy salsa to Bitcoin’s tortilla chip.

Michael Saylor: The Nation That Prints to Buy Bitcoin Wins

Michael Saylor, the rockstar of Bitcoin maximalism, never misses an opportunity to make headlines. His latest proclamation? “The first nation to print its currency to buy Bitcoin will win.” Bold? Yes. Outlandish? Maybe. But coming from the man who turned MicroStrategy into a Bitcoin treasure chest, it’s worth unpacking.

Saylor’s argument hinges on the idea that fiat currencies are inherently inflationary, while Bitcoin’s supply is capped at 21 million. For a nation willing to leverage its monetary policy to acquire BTC, the long-term payoff could be monumental. El Salvador’s bold experiment as the first country to adopt Bitcoin as legal tender aligns with this vision, though not without challenges.

This philosophy is sparking debates worldwide. Could the Federal Reserve ever embrace such a strategy? Jerome Powell’s recent remarks (more on that later) suggest the door isn’t entirely closed. For now, Saylor’s vision remains a rallying cry for Bitcoin believers everywhere.

MARA Goes Big: $1.5 Billion Bitcoin Purchase

Marathon Digital Holdings (MARA) just dropped a bombshell: a $1.5 billion Bitcoin purchase, funded through convertible notes. This acquisition boosts MARA’s reserves to a jaw-dropping 44,394 BTC, currently valued at $4.45 billion. Talk about putting your money where your mouth is!

MARA’s CEO framed the move as a strategic bet on Bitcoin’s long-term potential. “We’re not just mining Bitcoin; we’re safeguarding our financial future,” he said. With institutional players like MARA making such aggressive moves, it’s clear that Bitcoin’s narrative as digital gold is gaining traction.

This acquisition also raises questions: Are we witnessing the dawn of a new era where corporations act as sovereign-like entities, holding Bitcoin as a reserve asset? If MARA’s gamble pays off, it could inspire a wave of similar strategies.

Welcome to The Bitcoin Street Journal Market Update with Anna

Good day, listeners! Welcome to another headline-packed edition of The Bitcoin Street Journal Market Update. I’m your host, Anna, bringing you the latest and greatest from the ever-evolving world of Bitcoin and cryptocurrency markets. Buckle up; we have a lot to unpack today, from regulatory developments in Hong Kong to groundbreaking moves by BlackRock and fascinating global trends that are reshaping the financial landscape.

JUST IN: Hong Kong Takes the Lead

The Hong Kong Securities and Futures Commission (SFC) has approved and listed four new Bitcoin and crypto trading platforms. This development cements Hong Kong’s position as a hub for digital assets in Asia, with whispers suggesting China might be subtly preparing for a more crypto-friendly future.

The SFC’s move signals a departure from the restrictive crypto stance traditionally associated with the region. Analysts believe this could spark a domino effect, encouraging other jurisdictions to reevaluate their own regulatory frameworks. Could we be witnessing the dawn of a new era where China embraces crypto indirectly through Hong Kong? Only time will tell. Furthermore, these platforms are expected to attract a wave of institutional and retail investors, providing a significant boost to liquidity and market stability. The success of these platforms could serve as a blueprint for other Asian markets looking to adopt similar strategies.

Germany: The Case Against Fiat

Joana Cotar, a German Parliament member, has set social media ablaze with her fiery critique of fiat money. Cotar argues that the global inflation crisis stems from the inherent flaws in the money-printing system. Her statement, “You don’t have inflation with Bitcoin,” highlights the appeal of Bitcoin’s fixed supply.

Cotar’s comments underscore a growing sentiment among European policymakers who are beginning to see Bitcoin as a hedge against fiat’s pitfalls. Could Germany become a leader in integrating Bitcoin into its economic system? The implications are monumental. Cotar’s speech has also spurred grassroots movements advocating for Bitcoin adoption at the municipal level, with some towns already exploring local Bitcoin reserves.

Celebrating our 100th podcast episode

A New Wave of Bitcoin Institutional Moves

Hello, and welcome to another exciting episode of The Bitcoin Street Journal Podcast! I’m your host, Anna, and today we’ve got a packed show filled with major developments, jaw-dropping moves, and a whole lot of Bitcoin-related drama. Whether you’re a crypto enthusiast, a financial analyst, or just someone trying to stay ahead of the curve in the world of digital assets, you’re in the right place.

But that’s just the tip of the iceberg. We’ve also got updates on SEC Commissioner Caroline Crenshaw’s non-renomination, a major shift in Bitcoin ETF holdings, and the latest market drama as Bitcoin hits new all-time highs.

So, sit tight as we break it all down. You won’t want to miss this!

Metaplanet Makes a Bold Bet: Accelerating Bitcoin Acquisitions with a Bond Issuance

Let’s start with the big headline out of Japan. Metaplanet, a prominent tech conglomerate, has just issued ¥4.5 billion ($29 million) in bonds, but it’s not just any typical corporate bond issuance. This is part of a larger strategy to accelerate its Bitcoin purchases, a plan that was originally scheduled for 2025.

So, why is this important? Well, this move signals that Metaplanet is seriously betting on Bitcoin’s future, and they’re not waiting around for 2025 to roll around. With Bitcoin trading around its all-time high of $108,000, Metaplanet clearly believes that the time to buy is now.

But here’s the kicker: These bonds will be redeemed with proceeds from the company’s moving strike warrants, which are set to be exercised soon. For those of you unfamiliar with moving strike warrants, they’re essentially financial instruments that allow Metaplanet to lock in favorable terms to acquire Bitcoin at a future date, making this bond issuance essentially a preemptive move to take advantage of those future gains.

What’s Next? The Option for More Bonds

But wait—there’s more! Metaplanet has also included the option to issue an additional ¥5 billion ($32 million) in bonds, which could further ramp up their Bitcoin acquisitions in the coming months. This gives them flexibility to buy even more Bitcoin, further cementing their position as a major player in the crypto world.

For those watching closely, this is just another indication of how corporations are increasingly adopting Bitcoin as part of their treasury strategy. And when you combine this with the growing number of Bitcoin ETFs holding more than 1.3 million BTC globally, it’s clear that the world is shifting toward a Bitcoin-first mentality.

MicroStrategy’s Michael Saylor: The Bitcoin Advocate Who Won’t Back Down

As Metaplanet makes its big move, we can’t talk about Bitcoin’s institutional adoption without mentioning Michael Saylor and his company, MicroStrategy. Saylor has been one of the most vocal and consistent advocates for Bitcoin, and his latest comments are absolutely golden.

In a viral moment that’s now being dubbed the “Thug Life Mic Drop,” Saylor made it clear that he’s tired of hearing accusations that MicroStrategy is running a “Ponzi scheme” because of its massive Bitcoin holdings. To those who’ve been critical of MicroStrategy’s Bitcoin strategy, Saylor had a simple response: “If holding Bitcoin is a Ponzi, then I’ll take it.”

This quote has gone viral across social media platforms, and it’s a perfect example of Saylor’s unshakable confidence in Bitcoin’s long-term value. Over the years, MicroStrategy has amassed more than 158,000 BTC, worth billions of dollars at today’s prices. And despite the volatility and market corrections, Saylor remains steadfast in his belief that Bitcoin is a superior store of value.

The Bitcoin Street Journal Market Update

Hosted by Anna

Breaking News from the Bitcoin World: The Winds of Change Are Blowing Strong!

December 17, 2024

Welcome back to "The Bitcoin Street Journal Market Update," your go-to podcast for everything you need to know about Bitcoin and the rapidly evolving world of cryptocurrency. I’m your host, Anna, and let me tell you, the markets are heating up, and there’s no shortage of game-changing updates to dive into today. So buckle up, grab your digital wallets, and let’s get started!

MicroStrategy’s Mega Bitcoin Bet: A Billion-Dollar Gamble

Let's start with some explosive news coming out of the U.S. – MicroStrategy, the business intelligence giant that has made Bitcoin its favorite digital asset, is back in the game, and they’re making headlines with a massive new purchase.

In a bold move, MicroStrategy has just acquired a whopping 15,350 Bitcoin for a cool $1.5 billion. This purchase brings their total Bitcoin holdings to an astronomical 439,000 BTC – valued at $45.6 billion. Talk about a Bitcoin bonanza! This latest acquisition not only reinforces their reputation as one of the biggest corporate Bitcoin investors but also puts them on the map as a major player in the Nasdaq-100.

Now, we’ve seen a lot of people scratching their heads over MicroStrategy's long-term Bitcoin strategy, but CEO Michael Saylor has been firm in his belief that Bitcoin is the ultimate store of value. Despite criticisms – yes, there are always critics – Saylor is doubling down, unshaken by the volatility of the market. He’s made it clear: this is a long-term play.

But here’s where it gets interesting: as MicroStrategy goes full throttle with its Bitcoin strategy, the company is reshaping its corporate future, blending traditional business operations with Bitcoin as a core asset. It’s a fascinating shift, and we'll be watching closely to see how this impacts other corporations considering a similar move. This move also ties in perfectly with the larger trend we’re seeing, where institutional adoption of Bitcoin is increasing.

And it’s not just about MicroStrategy; the Bitcoin market itself is witnessing massive inflows. We’re talking about $3 billion per day entering the Bitcoin network in the last month alone! That’s not chump change, folks. Whether it’s institutional players like MicroStrategy or regular investors looking to diversify, Bitcoin’s future is looking brighter than ever.

But that’s not all. Oh no, we’ve got more exciting updates in the Bitcoin ecosystem.

The UK Is Getting Bitcoin Fever: MicroStrategy on Top of the List

Across the pond in the UK, there's some fascinating news from the world of investment. According to The Sunday Times, MicroStrategy is currently the most popular buy on Hargreaves Lansdown, the UK’s number one investment platform. It’s official – the British are jumping on the Bitcoin bandwagon, and they’re trusting MicroStrategy as the best way to gain exposure to the world's largest cryptocurrency.

Now, this is a significant development. When you have a legacy investment platform like Hargreaves Lansdown reporting such a massive uptake in demand for MicroStrategy stock, it’s clear that Bitcoin is no longer a niche asset reserved for tech enthusiasts and blockchain purists. This is mainstream. People are taking Bitcoin seriously. MicroStrategy's success in the U.S. is clearly influencing UK investors to follow suit, and as Bitcoin becomes increasingly integrated into corporate strategies, the demand for such stocks is only going to rise.

🟠 Michael Saylor’s Weekly Bitcoin Tracker: The Countdown to More BTC Begins

For the sixth consecutive week, Michael Saylor, the outspoken Bitcoin bull and executive chairman of MicroStrategy, has posted his famous Saylor Bitcoin Tracker, and the numbers? Well, they are just as staggering as you might imagine. MicroStrategy, the business intelligence firm that Saylor leads, has once again added more Bitcoin to its ever-growing stash. They’ve been making headlines for months now, and if you’ve been following along, you’ll know this pattern by heart: MicroStrategy buys more BTC… and they do it every single day after Saylor drops his weekly tracker.

We’re talking about hundreds of millions of dollars in Bitcoin, and Saylor’s personal belief in Bitcoin’s future isn’t just philosophical. It's financial. The company now holds over 140,000 BTC, a stake worth around $4.5 billion at current prices. They’re betting big on Bitcoin’s future, and frankly, that kind of conviction is contagious. Bitcoiners are watching, and this kind of sustained buy pressure has made MicroStrategy the undisputed champion of Bitcoin accumulation.

And speaking of Bitcoin’s future, it looks like MicroStrategy isn’t the only player looking to load up on the digital gold. Let’s take a look at the broader picture.

🇺🇸 Fewer Than 20% of Americans Can Afford a Home. Bitcoin Has a Solution.

In some not-so-good news from the U.S. housing market, fewer than 20% of Americans currently earn the annual income necessary to afford a median-priced home. Yes, you heard that right: homeownership is becoming increasingly out of reach for the average person, and the gap between wages and housing prices is widening.

Now, I know what you're thinking: “What does Bitcoin have to do with this?”

Well, Bitcoin is a solution—or at least, a partial one. With Bitcoin’s ability to store value and hedge against inflation, many see it as an escape hatch from traditional financial systems that don’t seem to be working for the everyday person. If you’re priced out of real estate, why not consider Bitcoin as your store of value? It’s a decentralized, borderless asset that can preserve wealth over time.

Where the U.S. government has failed to protect the purchasing power of its citizens, Bitcoin offers a lifeline. And, the push for a Bitcoin-based financial system is happening faster than we thought.

🏙️ Vancouver’s Bitcoin Presentation: A Glimpse into the Future

Up north in Vancouver, a new Bitcoin presentation is making waves. Anilsaidso, a well-known Bitcoin advocate, recently gave a compelling presentation to the Vancouver City Council, urging them to consider Bitcoin for the city’s financial reserves. As Vancouver battles with housing affordability and economic challenges, the idea of adopting Bitcoin as part of the city's strategy is gaining traction.

The city council is exploring this option seriously, especially as the price of Bitcoin continues to soar. Could Vancouver be the first city to make Bitcoin its official reserve currency? The answer might just surprise you. As governments around the world experiment with Bitcoin, Vancouver could be a trailblazer in the next wave of Bitcoin adoption. This could be the beginning of a new financial strategy for municipalities facing similar challenges.

The Bitcoin Street Journal Market Update: A Global Shift Toward Bitcoin Reserves and Institutional Adoption

Episode: The Surge, the Strategists, and the Shifting Global Narrative

Welcome back to The Bitcoin Street Journal Market Update, where we break down the latest in Bitcoin news, market trends, and everything you need to know to stay ahead in this ever-evolving space. I’m your host, Anna, and today, we’ve got an action-packed episode for you, filled with some of the most seismic shifts in Bitcoin adoption that we’ve seen in a while.

From cities like Vancouver in Canada studying how to adopt Bitcoin into their financial reserves, to major Bitcoin miners like Marathon Digital Holdings making massive moves, we’re seeing more than just the typical bullish price action — we’re seeing Bitcoin integrated into real-world strategies on a scale we couldn’t have imagined just a few years ago.

And speaking of scale, we’re going to talk about Bitcoin’s potential role in U.S. state reserves — including Texas, where one representative has proposed an official Bitcoin Strategic Reserve. We’ll break down how that could change the game not just for Bitcoin’s price, but for its legitimacy as a global reserve asset. And yes, you guessed it, we’re also diving into the growing role of Bitcoin ETFs — the fastest-growing ETFs in history — and why they’re poised to overshadow gold ETFs soon.

But first, let's start with some of the most game-changing Bitcoin news of the week.

The Bitcoin Street Journal Market Update: A Global Shift Toward Bitcoin Reserves and Institutional Adoption

Episode: The Surge, the Strategists, and the Shifting Global Narrative

Welcome back to The Bitcoin Street Journal Market Update, where we break down the latest in Bitcoin news, market trends, and everything you need to know to stay ahead in this ever-evolving space. I’m your host, Anna, and today, we’ve got an action-packed episode for you, filled with some of the most seismic shifts in Bitcoin adoption that we’ve seen in a while.

From cities like Vancouver in Canada studying how to adopt Bitcoin into their financial reserves, to major Bitcoin miners like Marathon Digital Holdings making massive moves, we’re seeing more than just the typical bullish price action — we’re seeing Bitcoin integrated into real-world strategies on a scale we couldn’t have imagined just a few years ago.

And speaking of scale, we’re going to talk about Bitcoin’s potential role in U.S. state reserves — including Texas, where one representative has proposed an official Bitcoin Strategic Reserve. We’ll break down how that could change the game not just for Bitcoin’s price, but for its legitimacy as a global reserve asset. And yes, you guessed it, we’re also diving into the growing role of Bitcoin ETFs — the fastest-growing ETFs in history — and why they’re poised to overshadow gold ETFs soon.

But first, let's start with some of the most game-changing Bitcoin news of the week.

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Segment 1: Vancouver — The City Taking Bitcoin Seriously

“Will Bitcoin become the new gold standard for cities? Vancouver might just be the first to try.”

Let’s kick things off with some big news from Canada. Vancouver, the beautiful West Coast city known for its stunning scenery and tech-forward mindset, has officially voted to study how Bitcoin can be integrated into the city’s financial reserves. Now, this is no small decision.

In fact, the proposal, known as “Preserving the City’s Purchasing Power Through Diversification of Financial Reserves”, could see Vancouver join the ranks of forward-thinking cities that are beginning to treat Bitcoin not just as a speculative asset but as a core part of their financial infrastructure.

The motion, passed by the Vancouver City Council, essentially seeks to answer one big question: Can Bitcoin help cities secure their financial futures in a way that traditional currencies and gold simply cannot?

Now, why is this so important? First off, the financial landscape is changing rapidly. With inflation running high globally and central banks printing money at an unprecedented rate, Bitcoin — with its limited supply and decentralized nature — is looking more and more like a safe haven asset. Vancouver, much like other cities, is looking to diversify its financial reserves to preserve the city’s purchasing power for the next century. In other words, they’re thinking long term. They don’t want to risk holding their financial reserves in fiat currency, which could lose value due to inflation or a financial crisis.

This move by Vancouver signals a broader trend we’re seeing across the globe: more municipalities and even nations are considering Bitcoin as a hedge, not just against inflation, but against an increasingly unstable global financial system.

If you haven’t yet, take a moment to let that sink in. A city, not a private investor or institution, is now considering Bitcoin as part of its official reserve strategy. We’ve been talking about Bitcoin as a hedge for years, but now we’re starting to see actual implementation on a local government level. The stakes just got higher, and it makes the conversation around Bitcoin more urgent than ever.

Podcast Title: The Bitcoin Street Journal Market Update

Welcome to another exciting episode of The Bitcoin Street Journal Market Update—the show where we break down the latest trends, ideas, and innovations that are shaping the world of Bitcoin, digital finance, technology, and everything in between. I’m your host, Anna, and today we’re diving into some thrilling updates that are rocking the world of Bitcoin and digital assets. From giant companies making bold moves in Bitcoin to new breakthroughs in encryption and technology, this episode has it all.

So, sit back, relax, and let’s unpack these game-changing stories, starting with some major developments in the stonk market and corporate Bitcoin strategies.

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Segment 1: MicroStrategy Joins the Nasdaq 100 – The Bitcoin Titan on the Rise

Big news coming in for Bitcoin enthusiasts: MicroStrategy is officially set to be announced as a new member of the Nasdaq 100 this Friday. Yes, you heard that right! The company that’s become synonymous with Bitcoin accumulation is now joining the ranks of some of the biggest names in the tech world.

This is a huge milestone for Michael Saylor’s firm, which has been on a Bitcoin-buying spree over the years. With over $40 billion in Bitcoin under its belt, MicroStrategy’s entry into the Nasdaq 100 represents more than just a stock market listing—it signals the growing legitimacy of Bitcoin as a store of value, and institutional investors are taking notice.

What does this mean for the broader Bitcoin ecosystem? As MicroStrategy continues to stack sats, it’s pushing the narrative that Bitcoin is not just a speculative asset but a legitimate part of a diversified corporate strategy. It could also trigger a wave of institutional investments, with analysts predicting a $2.1 billion buying spree in Bitcoin ETFs once the firm’s Nasdaq debut is officially announced.

That’s right: MicroStrategy is about to make history again.

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Segment 2: JetkingLtd in India Surges on Bitcoin Strategy – Corporate Bitcoin Adoption Worldwide

In a surprising turn of events, JetkingLtd, a publicly listed Indian company, saw its stock surge 20% this week after announcing its corporate Bitcoin strategy. This is yet another sign that Bitcoin adoption is spreading far beyond the traditional Western tech hubs.

JetkingLtd, which specializes in IT education, is positioning itself as one of the first major companies in India to publicly embrace Bitcoin as part of its treasury strategy. The news sent waves through the market, with investors eager to see how the company will leverage Bitcoin in its operations.

The Global Bitcoin Movement - From Hawaii to Russia and Beyond

Intro:

Welcome back to The Bitcoin Street Journal Market Update, where we bring you the latest, most exciting news and insights from the world of Bitcoin, blockchain, and the broader digital asset landscape. I’m your host, Anna, and today’s episode is packed with game-changing stories that are shaping the future of Bitcoin adoption worldwide. Whether you're a seasoned crypto investor or a newcomer just starting to explore the world of Bitcoin, this episode will keep you ahead of the curve.

We’re covering everything from Hawaii’s adoption of Bitcoin to Russia's strategic plans to hold Bitcoin as a reserve asset, and of course, the latest moves by Bitcoin giants like MicroStrategy. Let’s dive in!

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Segment 1: Hawaii’s Bitcoin Moment - Local News and Cameos

Let’s kick things off with some positive news from the Aloha State. Recently, Hawaii local news ran a segment covering Bitcoin adoption across the state, and it’s causing quite a stir. The segment wasn’t just about Bitcoin’s growing popularity—it featured some notable cameos from local entrepreneurs, tech enthusiasts, and crypto advocates who are helping to spread the word about the benefits of adopting Bitcoin.

Hawaii, with its strong ties to technology and innovation, has always been a place where new ideas are embraced. And now, Bitcoin is making its way into the local economy. It’s not just about individuals using Bitcoin for transactions; Hawaii is seeing businesses and local government agencies take a closer look at how they can incorporate Bitcoin into their operations. Whether it's accepting Bitcoin for services, or potentially using it as part of public treasury management, Hawaii is proving to be a key player in the Bitcoin adoption movement.

With the state’s increasing interest in digital currencies, it’s clear that Bitcoin is no longer just a speculative asset for investors—it’s becoming part of the local infrastructure, and that’s something worth celebrating.

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Segment 2: Russia’s Bold Bitcoin Reserve Proposal

Next up, let’s turn our attention to Russia, where big moves are afoot in the world of Bitcoin. A recent report from RIA Novosti has revealed that Anton Tkachev, a deputy in Russia’s State Duma, has proposed the creation of a “strategic Bitcoin reserve” for the country.

Yes, you heard that right. A government-backed Bitcoin reserve. Tkachev’s proposal argues that Russia could benefit greatly from acquiring and holding Bitcoin as part of its foreign currency reserves. With its reputation for being skeptical of Western financial systems, Russia is exploring Bitcoin as a potential hedge against economic instability and a way to diversify its financial holdings.

This proposal is a clear signal that Bitcoin’s role as a global store of value is gaining recognition, even in countries with traditionally conservative financial systems. Russia’s move could have significant implications for how Bitcoin is viewed on the international stage. If adopted, it might pave the way for other countries to consider Bitcoin as part of their national reserves. This is a bold step forward for Bitcoin’s legitimacy as a sovereign asset.

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