Is it too soon to talk about Crypto yet?

[Complete Turf Care]

At our Rotary club meeting, our speaker was our state treasurer John Fleming. I asked him his thoughts on cryptocurrency. He said that although one state agency does accept cryptocurrency payments, his department is not ready to start dealing with it yet

 

[MinnesotaEric]

View attachment 3216648At our Rotary club meeting, our speaker was our state treasurer John Fleming. I asked him his thoughts on cryptocurrency. He said that although one state agency does accept cryptocurrency payments, his department is not ready to start dealing with it yet

I'd like our municipality to be able to have exposure to Bitcoin through our normal money market manager so that our ROI exceeds inflation rates and we wouldn't need to increase our local levy to cover expenses.

https://twitter.com/x/status/1908210089292419356

Today we see Bitcoin decoupling from risk assets before our very eyes.

https://twitter.com/x/status/1908203921296019903

 

[MinnesotaEric]

While I expect traditional markets to continue bed-wetting over headline risk, a methodical survey published last January highlights that Crypto in general is in the process of going mainstream with Americans. Key findings are an interesting mix of "yeah, yeah, go, baby, go!" and "Is this safe?!"

• Cryptocurrency ownership has nearly doubled in the three years since the end of 2021. In 2025, approximately 28% of American adults, or about 65 million people, own cryptocurrencies.
• 14% of people without crypto plan to buy it in 2025, and 67% of current owners plan to buy even more this year.
• Among those who plan to buy crypto in 2025, Bitcoin, Ethereum, and Dogecoin are among the top three most desired currencies.
• 60% of adults familiar with crypto believe that the value of cryptocurrencies will increase during Donald Trump’s second presidential term, and 46% believe that Trump will boost mainstream cryptocurrency adoption in the U.S.
• Though public enthusiasm for crypto has grown in recent years, 40% of people who own cryptocurrency still aren’t confident that the technology is safe and secure. Nearly one in five cryptocurrency owners have had difficulty accessing or withdrawing their funds from custodial platforms.
  

Meanwhile, back to today, markets don't just go down. In sustained downturns (like from 2007 to March 9th, 2009), downward trends act like a series of deadcats. But like a pop fly ball that keeps floating even though it has run out of momentum to the upside, to the downside, public sentiment for a variety of reasons remains negative after markets actually begin to turn around.

Anyway, the rumor is that we will get domestic stablecoin and market structure legislation before the end of the first recess in August. But if we don't get that confirmation that crypto-friendly legislation is en process, then the lack of legislative movement becomes a serious headline risk for crypto at large which would be exacerbated by the velocity of commerce in the broader economy if it is obviously slowing.

All to say far too early to discuss end-of-the-world, wealth preservation concerns but I wouldn't be a bit surprised to see a series of prolonged deadcats as people become more concerned and start searching for safe havens.

 

[Snobdds]

This guy...the pump is on.

https://www.cnbc.com/2025/04/10/bitcoin-to-hit-250000-mag-7-adopt-stablecoins-charles-hoskinson.html

 

[rumwrks]

Meanwhile Blackrock just dumped a bug chunk of their toxic assets^W^WBitcoin holdings.. and Microstrategies latest 10Q was a fun and amusing read (here's hoping for a good old fashioned margin call!)

 

[quicksandfarmer]

I'd like our municipality to be able to have exposure to Bitcoin through our normal money market manager so that our ROI exceeds inflation rates and we wouldn't need to increase our local levy to cover expenses.

Property taxes in my town are due December 31. If our town clerk had put the proceeds into Bitcoin in December at $109,000 there would have been a revolt this week when it hit $75,000.

 

[MinnesotaEric]

Meanwhile Blackrock just dumped a bug chunk of their toxic assets^W^WBitcoin holdings.. and Microstrategies latest 10Q was a fun and amusing read (here's hoping for a good old fashioned margin call!)

Keep hoping.

https://twitter.com/x/status/1914469328985919785

Property taxes in my town are due December 31. If our town clerk had put the proceeds into Bitcoin in December at $109,000 there would have been a revolt this week when it hit $75,000.

Taxes are paid to the county. The county then at a later date dolls out to your township the levy for that year.

The township's treasurer, at the bidding of the township's board, moves rainy day funds in whatever investments the State allows townships to invest in.

 

[Oaktree]

Taxes are paid to the county. The county then at a later date dolls out to your township the levy for that year.

The township's treasurer, at the bidding of the township's board, moves rainy day funds in whatever investments the State allows townships to invest in.

Maybe in your state, but not all. There is a portion that goes to the county for whatever it is they do but my tax bill comes from the town, and that's who I write the check to.

 

[quicksandfarmer]

Taxes are paid to the county. The county then at a later date dolls out to your township the levy for that year.

The township's treasurer, at the bidding of the township's board, moves rainy day funds in whatever investments the State allows townships to invest in.

In Rhode Island taxes are paid directly to the town. It's the New England way. The only thing done at the county level in New England is state courts.

 

[MinnesotaEric]

In Rhode Island taxes are paid directly to the town. It's the New England way. The only thing done at the county level in New England is state courts.

I just learned something. In MN our property taxes are due on May 15th and October 15th.