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Becoming a national bank could provide major benefits for crypto companies. It would allow them to lower borrowing costs by accepting customer deposits, which could provide a stable source of funding.

Even as Bitcoin’s price moves up and down, major companies like Strategy and Metaplanet continue to buy more $BTC.

Investor confidence has also been affected by recent economic reports. The University of Michigan’s latest survey showed consumer sentiment dropping to its lowest level since November 2022.