Bitcoin’s Historic Leap: New Hampshire Pioneers Municipal Bond Backed by BTC

In a groundbreaking development for both traditional finance and the cryptocurrency sector, New Hampshire has officially approved the first Bitcoin-backed municipal bond in United States history. This landmark $100 million conduit bond, structured through a collaboration between Wave Digital Assets and Rosemawr Management, represents a pivotal moment in the institutional adoption of digital assets. The bond introduces a sophisticated collateral mechanism requiring borrowers to post 160% in Bitcoin value, with an automated liquidation trigger set at 130% to manage risk. This innovative structure not only provides a new, crypto-integrated financing tool for municipalities but also signals a maturing convergence between blockchain-based assets and conventional public finance frameworks. As of early 2026, this move by New Hampshire is being closely watched as a potential blueprint for other states, potentially unlocking significant capital inflows into Bitcoin from the vast municipal bond market. The development underscores a growing confidence in Bitcoin's role as a legitimate collateral asset and highlights the accelerating trend of digital asset integration within regulated financial systems, setting a precedent that could reshape public sector financing in the coming years.

New Hampshire Launches First Bitcoin-Backed Municipal Bond in U.S.

New Hampshire has become the first U.S. state to approve a municipal bond backed by Bitcoin, marking a significant milestone in the integration of digital assets into traditional finance. The $100 million Bitcoin-backed conduit bond, structured by Wave Digital Assets and Rosemawr Management, requires borrowers to post 160% BTC collateral, with an automatic liquidation mechanism triggered if the value falls below 130%.

The state's Business Finance Authority acts as a conduit, ensuring no risk to taxpayers or public funds. Governor Kelly Ayotte hailed the move as a strategic advancement in digital finance. Fees and gains from the collateral will support the state's Bitcoin Economic Development Fund, setting a potential model for other states.

Bitcoin Tests Key Support at $90K Amid Falling Wedge Formation

Bitcoin plunged to $90,000, testing the lower boundary of a critical falling-wedge pattern that has defined its downtrend since the $126,000 all-time high. The 1.7% intraday drop marks BTC's most precarious technical position since mid-year, with price, momentum, and volume converging in a high-risk zone.

Despite robust institutional inflows earlier this quarter, market exhaustion is evident as bitcoin trades below all key moving averages—the 20-day, 50-day, 100-day, and 200-day SMAs—a unanimous bearish signal. The descending wedge, typically a harbinger of trend reversals, now hinges on whether bulls can defend the $90,000–$91,000 support level.

At press time, BTC hovered at $90,931.48. A breach below the wedge could accelerate declines, while a rebound may set the stage for a bullish breakout.

Canaan Shares Surge as Bitcoin Mining Demand Drives Revenue Growth

Canaan Inc. (CAN) saw its stock price leap 20% following a robust third-quarter earnings report, with revenue more than doubling year-over-year to $150.5 million. The surge underscores renewed appetite for Bitcoin mining hardware as institutional demand rebounds.

North American clients accounted for nearly a third of total sales, signaling a strategic shift toward recurring orders from industrialized miners. The company itself mined 267 Bitcoin during the quarter at an average value of $114,485 per coin, expanding its treasury holdings to 1,610 BTC.

While still reporting a $27 million net loss, the figures represent significant improvement from last year's $75 million deficit. CFO James Jin Cheng attributed the performance to 'substantial new orders' and strengthening fundamentals in Core markets.

Bitfury Shifts from Bitcoin Mining to $1B Tech Investment Fund

Bitfury, a 14-year-old Bitcoin mining pioneer, is pivoting from its core business to launch a $1 billion investment fund targeting AI and crypto startups. The fund, set to debut in Q4 2025, will focus on ethical emerging technologies including quantum computing and decentralized systems.

The company has a proven track record in spinning out successful ventures, including NASDAQ-listed miners Cipher Mining and Hut 8. Bitfury's existing AI expertise—through LiquidStack cooling solutions and chip firm Axelera AI—positions it uniquely for this transition.

This strategic shift comes as Bitcoin mining profitability declines, with network difficulty surging 52% year-over-year while BTC prices remain 26.2% below their October peak. CEO Val Vavilov frames the MOVE as bridging the gap between innovation and ethics, leveraging Bitfury's operational experience and investor network.

Arthur Hayes Foresees Bitcoin Volatility: $80K Drop Before $250K Surge

Former BitMEX CEO Arthur Hayes posits Bitcoin's recent decline below $90,000 stems from tightening dollar liquidity rather than waning institutional interest. The cryptocurrency, which erased its 2025 gains this week, now faces a critical technical breakdown as traditional equity markets hover NEAR record highs.

Hayes frames Bitcoin as a barometer for global fiat liquidity, anticipating a potential drop to $80,000 before a parabolic rally to $200,000-$250,000 by year-end. This projection hinges on market corrections triggering renewed monetary expansion. The thesis emerges alongside record ETF outflows, including BlackRock's IBIT shedding $463 million in a single session.

Institutional participation reveals complex dynamics—major ETF holders predominantly employ basis trades rather than long-term holdings, creating distorted signals for retail investors. The market structure suggests volatility ahead, with some analysts warning of broader bearish momentum across crypto assets.

Michael Saylor Defends MicroStrategy’s Bitcoin Bet Amid Stock Decline

MicroStrategy CEO Michael Saylor remains steadfast in his Bitcoin advocacy despite the company's stock decline and broader market volatility. The executive dismissed short-term price fluctuations as typical for an emerging asset class, emphasizing Bitcoin's historical resilience and long-term appreciation trajectory.

Saylor highlighted Bitcoin's decreasing volatility—from 80% in 2020 to 50% currently—as evidence of market maturation. He projects this trend will continue, eventually stabilizing at roughly 1.5 times the S&P 500's volatility while maintaining superior returns. "We're indestructible," Saylor declared during a Fox Business interview, framing Bitcoin as the ultimate sound money play for institutional investors.