Swiss policymaker Samuel Kullmann secured a sweeping majority vote for a Bitcoin mining study aimed at optimizing local power infrastructure.

According to Bitcoin (BTC) advocate Dennis Porter, Kullmann’s proposal passed on Nov. 28 and could steer Switzerland toward BTC adoption.

The Bitcoin policy will now explore how the world’s largest decentralized proof-of-work blockchain can stabilize the Swiss energy grid and “use otherwise wasted energy.” Kullmann’s proposal passed following an 85:46 vote in Switzerland’s Parliament.

The founder of the Cardano (ADA) blockchain Charles Hoskinson is leaning bullish on Bitcoin (BTC).

Hoskinson says Bitcoin could skyrocket by up to 436% from the current level within two years. According to the Cardano founder, Bitcoin’s surge will be fueled by growing demand.

“It is my belief that Bitcoin is going to go to $250,000 to $500,000 within the next 12 to 24 months because of the investment inflows and the great interest that has been achieved. This will translate to an ecosystem whose value is starting to approach that of gold, an asset humans have used as a store of value for over 5,000 years.

Simply put, Bitcoin is the store of value for the internet and it will remain in that role for the foreseeable future.”

The Cardano founder says that governments and decentralized finance (DeFi) on Bitcoin could further serve as catalysts of demand for Bitcoin.

“It basically means that you can create a DeFi layer for Bitcoin and pay transaction fees in Bitcoin… [with the taproot upgrade] Bitcoin went from a sleeping-giant-never-to-awaken in innovation coma to an awakened giant that is four times the size of Solana and Ethereum combined.

Reality is that should these floodgates open, it is my belief that DeFi in the Bitcoin ecosystem will eclipse DeFi in all ecosystems in the cryptocurrency industry within 24 months to 36 months. And that’s just because of scale and liquidity.

As good as Ethereum can be, and Solana can be, and Cardano can be… let’s be intellectually honest about this, governments are talking about a strategic reserve of Bitcoin and Bitcoin alone. It’s their entry point.”

Bitcoin’s taproot upgrade, which was designed to enhance the crypto asset’s smart contract capabilities and efficiency, was activated in November of 2021.

Bitcoin is trading for $93,220 at time of writing.

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Metaplanet wants to raise $62 million from its upcoming series of stock acquisition rights to EVO Fund. The firm will use the funds to buy more Bitcoin for its treasury management.

In a Nov. 28 press release, the Japanese investment firm announced its plans to issue its 12th Stock Acquisition Rights to EVO FUND, an investment management firm in the Cayman Islands, through a third-party allotment starting Dec. 16, 2024.

Metaplanet will be issuing a total of 29,000 units. Each unit entitles EVO FUND to purchase 100 common shares. Each subscription right costs 614 yen, resulting in a total issuance price of 17,806,000 yen.

If EVO FUND decides to purchase all the units offered by Metaplanet, they will acquire 2,900,000 common shares with a lower exercise price limit of 1,500 yen. Therefore, Metaplanet stands to gain more than 9,5 billion yen ($62 million) from their 12th Stock Acquisition Rights sale to EVO FUND.

However, the company also noted the transaction is subject to approval from Japan’s Financial Instruments and Exchange Act.

The Japanese investment firm declared that it will use the majority of the funds raised to purchase more Bitcoin(BTC), in accordance with the company’s strategic corporate treasury strategy to focus on “expanding our Bitcoin position.”

“We are prioritizing a Bitcoin-first, Bitcoin-only approach to treasury management. We have made it clear that we intend to utilize debt and periodic stock issuance to systematically increase our Bitcoin holdings while reducing exposure to a depreciating yen,” stated the company in its press release.

In October, Metaplanet completed its 11th series of stock acquisition rights. The company raised a total of 10 billion yen ($66 million) which it also allocated the majority of the funds to purchasing Bitcoin.

Often referred to as “Asia’s MicroStrategy” by market proponents, Metaplanet has amassed the largest Bitcoin trove in Japan with 1,142 BTC, worth $109.36 million at current market prices.

Recently, Metaplanet announced it has been added to the Amplify Transformational Data Sharing ETF or BLOK, a global index that invests in leading blockchain companies including SBI Holding, MicroStrategy and Nvidia.

CEO of Metaplanet, Simon Gerovich, stated that Metaplanet’s inclusion into the ETF signifies the firm’s leadership as “Japan’s leading Bitcoin Treasury Company.”