In a major shift, the U.S. SEC has rolled back several proposals introduced during Gary Gensler’s tenure. Among the withdrawn rules are the controversial expanded Custody Rule, the DeFi-targeted Rule 3b-16, and stricter ESG reporting mandates. These changes signal a softer regulatory stance as pressure mounts for clearer, more balanced crypto oversight. The move has been welcomed by many in the digital asset space, viewing it as a step toward more practical and innovation-friendly regulation.
The efforts to add Bitcoin and other digital assets to Government Reserves are gaining steam not just in the US but in several other countries as well. Now, UFC superstar Conor McGregor has urged Ireland to create a Bitcoin strategic reserve, saying the move would return financial control to everyday citizens.
Crypto in it’s origin was founded to give power back to the people.
An Irish Bitcoin strategic reserve will give power to the people’s money.
I will be cohosting a Twitter space to talk about what I want to see changed.
Victory to Ireland!
He also announced plans to cohost a Twitter Space to share his vision for Ireland’s crypto future.
Conor McGregor Pushes Bitcoin Into National Spotlight
As McGregor entered the crypto policy arena with this message, the celebrity push is gaining momentum. While he previously backed crypto-related sponsors, his new call for a Bitcoin strategic reserve signals a serious shift in tone.
He didn’t reference any official proposals or lawmakers, but his timing aligns with growing interest in national Bitcoin holdings across Europe. Germany and Switzerland already hold Bitcoin as part of their sovereign strategies.
Crypto analysts believe Conor McGregor’s reach could purport more public support for state-level Bitcoin initiatives. In Ireland, those conversations often touch on independence, innovation, and financial access.
Will McGregor’s Influence Move the Policy Needle?
Some critics doubt whether McGregor’s post will translate into meaningful action. While fans celebrated his stance, Irish government officials haven’t responded. Even so, McGregor’s tweet gained over 735,000 views in under 12 hours. His involvement has pulled Bitcoin back into Irish political conversations.
Last month, Conor McGregor launched a meme coin called REAL to join the growing list of celebrity crypto projects. But the coin failed shortly after launch and lost momentum quickly. The failure raised doubts about celebrity-backed tokens, especially after Donald Trump’s coin also failed to gain lasting investor support.
But meme coins have broken the myth that they can’t be profitable. As of May 10, 2025, the top meme coins reached a total market cap of $59.73 billion. While that’s only a 2.34% increase, it shows steady growth and strong interest in the meme coin space across global crypto markets. Check out the top Meme Coins To Buy In May 2025 here.
Dogecoin (DOGE) is trading at $0.154 today, June 23, with a notable 4.84% gain and more than $1.43 billion in 24-hour trading volumes. The ongoing Dogecoin price rally marks an impressive recovery from the two-month low of $0.142 that DOGE hit yesterday. This bounce has also seen bulls defend a key demand zone that has
Tesla’s Q1 2025 financial report reveals that despite missing revenue expectations, the company still holds over $951 million worth of Bitcoin.
After its initial purchase in February 2021 and the sale of 75% of its Bitcoin holdings in July 2022, Tesla currently holds approximately 11,509 BTC.
Bitcoin Remains a Strategic Asset for Tesla
According to a filing with the US Securities and Exchange Commission (SEC) on April 22, 2025, Tesla’s Q1 revenue reached $19.34 billion. This figure falls significantly short of market expectations, which stood at $21.37 billion.
The electric vehicle segment, Tesla’s primary revenue stream, posted a 20% year-over-year decline. The main reason is a 13% drop in deliveries and a 16% reduction in production.
Despite this, Tesla’s stock price has dropped 41% since the beginning of 2025, under pressure from controversies surrounding CEO Elon Musk’s involvement in government roles and ongoing protests against the company.
A key point of interest in Tesla’s Q1 2025 financial report for the crypto community is the company’s Bitcoin holdings. As of March 31, 2025, Tesla owns 11,509 Bitcoin, valued at approximately $951 million, according to data from Bitcointreasuries.net.
Bitcoin’s 12% decline in Q1 2025 slightly reduced the value of Tesla’s BTC stash from $1.076 billion at the end of 2024. However, today, with Bitcoin prices rising 6% to $93,000, the value of Tesla’s Bitcoin holdings has again exceeded $1 billion.
New regulations by the Financial Accounting Standards Board (FASB) require companies to mark digital assets to market value each quarter, impacting Tesla’s financial reporting. Previously, this rule enabled Tesla to record a $600 million profit from Bitcoin in Q4 2024 due to market appreciation.
Thus, Tesla did not make any Bitcoin-related transactions during this quarter. This indicates the company is sticking with a HODL strategy, treating Bitcoin as part of its strategic investment portfolio. Other major firms, like Strategy and Metaplanet, are also following this long-term holding approach.
Elon Musk Refocuses on Tesla
Tesla’s continued Bitcoin holding amid market volatility shows Elon Musk’s confidence in the cryptocurrency’s long-term potential. However, it also raises questions about the fate of Tesla’s BTC stash, especially as Musk is expected to reduce his focus on DOGE and shift more attention back to Tesla starting this May.
“Not stepping down, just reducing time allocation now that @DOGE is established,” Musk stated.
Tesla now stands at a critical crossroads, with Dan Ives, an analyst at Wedbush, calling it a “code red situation.” If the current scenario persists, Musk may be forced to restructure Tesla’s financial strategy, including its Bitcoin holdings.
BeInCrypto reported that the cryptocurrency market will be volatile in the short term until mid-May 2025, citing economic pressures and trade policy uncertainty. The market might stabilize in mid- to late-Q2, supported by historical trends and loose monetary policy. Strong growth is expected in Q3, driven by Bitcoin’s post-halving cycle, institutional adoption, and clearer US crypto regulations.
