No, California is not adopting bitcoin | Protos
A Saturday news broadcast on X and YouTube by BitcoinNews.com claimed that the fifth largest economy in the world has adopted bitcoin. It had not. The livestream headline and much of its commentary dangled the inference that California had somehow just ‘adopted’ bitcoin as other governments like El Salvador had ‘adopted’ bitcoin. Many were fooled. The broadcast misleadingly suggested that an obscure announcement by the City of Santa Monica meant that the entire State of California – which is the world’s fifth largest economy by some metrics – had ‘adopted’ bitcoin. Read more: Fake news again! This time it’s Kamala Harris and ‘unrealized crypto gains’ No, it did not. California did not change any policy regarding bitcoin over the weekend. What actually happened is that on July 10, one city in California opened an office in partnership with a non-profit foundation. That office is called the Santa Monica Bitcoin Office. The city allocated $0 to its budget. Screenshot of the announc...