Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.

Today in crypto, a new essay from Strategy's Michael Saylor calls for Bitcoin to expand through banks, credit, securities and higher layers while preserving its base layer, Zcash (ZEC) fell more than 30% as new details were released concerning a now-patched counterfeiting vulnerability, and Bitcoin’s Q1 downturn saw professional investors dump more than 52,000 BTC of exchange-traded funds.

Strategy co-founder and executive chairman Michael Saylor said Bitcoin needs “disciplined expansion” through banks, companies, securities, credit and capital markets, laying out a path for the asset as spot exchange-traded fund (ETF) outflows and a broader market sell-off test institutional demand.

On Friday, Saylor published an essay, saying Bitcoin’s base layer should be treated as “sacred infrastructure,” with most innovation occurring through higher layers, applications, custody systems, credit instruments and financial infrastructure.

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