More Americans now own bitcoin than gold, according to a new report from River. The milestone comes as Satsuma voted to liquidate, dealing another blow to the treasury-company model, and as seven Senate Democrats rejected the latest draft of the CLARITY Act. Meanwhile, Cathie Wood doubled down on SpaceX despite its sharp stock decline.
Bitcoin overtakes gold in US households
River's report shows that bitcoin ownership has surpassed gold ownership among Americans for the first time. The survey-based study found that a larger share of US adults now hold bitcoin than hold physical gold or gold ETFs. It's a clear sign that digital assets are becoming a mainstream store of value, even as gold has been the traditional safe haven for centuries. The exact percentages weren't disclosed, but the trend line is unmistakable: crypto adoption is creeping into more portfolios.
Satsuma votes to liquidate
Satsuma, a company built around holding bitcoin on its balance sheet, voted to liquidate. The decision is another setback for the treasury-company model — the idea that firms can boost shareholder value by hoarding crypto. MicroStrategy made it work, but many imitators have struggled. Satsuma's dissolution adds to a growing list of casualties in that space. The company didn't say when the liquidation process would begin or how much bitcoin it still holds.
CLARITY Act stalls in the Senate
Seven Senate Democrats rejected the latest CLARITY Act draft, effectively blocking the bill's progress. The legislation aimed to give crypto firms a clear regulatory path — something the industry has been begging for. But the opposition from within the Democratic caucus suggests the bill doesn't have the votes to pass in its current form. Supporters will need to rework the language or find new allies. The timing isn't great: the US is falling behind other jurisdictions on crypto clarity.
Cathie Wood doubles down on SpaceX
ARK Invest CEO Cathie Wood increased her position in SpaceX even as the company's stock took a sharp hit. Wood has been a vocal backer of Elon Musk's ventures, and this move signals she's not wavering. SpaceX's valuation has been under pressure recently, but Wood sees long-term potential in its Starlink internet network and Starship rocket program. The purchase was disclosed in a regulatory filing this week. It's a bet that the current dip is a buying opportunity.
