The Bitcoin Street Journal Market Update, hosted
by Anna. Breaking news from the Bitcoin world.
The winds of change are blowing strong. December
17, 2024. Welcome back to the Bitcoin Street
Journal Market Update, your go -to podcast for
everything you need to know about Bitcoin and
the rapidly evolving world of cryptocurrency.
I'm your host, Anna. And let me tell you, the
markets are heating up and there's no shortage
of game changing updates to dive into today.
So buckle up, grab your digital wallets, and
let's get started. MicroStrategy's megabitcoin
bet, a billion dollar gamble. Let's start with
some explosive news coming out of the U .S. MicroStrategy,
the business intelligence giant that has made
Bitcoin its favorite digital asset, is back in
the game, and they're making headlines with a
massive new purchase. In a bold move, MicroStrategy
has just acquired a whopping 15 ,350 Bitcoin
for a cool $1 .5 billion. This purchase brings
their total Bitcoin holdings to an astronomical
439 ,000 BTC, valued at $45 .6 billion. Talk
about a Bitcoin bonanza. This latest acquisition
not only reinforces their reputation as one of
the biggest corporate Bitcoin investors, but
also puts them on the map as a major player in
the Nasdaq 100. Now, we've seen a lot of people
scratching their heads over MicroStrategy's long
-term Bitcoin strategy. But CEO Michael Saylor
has been firm in his belief that Bitcoin is the
ultimate store of value. Despite criticisms,
yes, there are always critics. Saylor is doubling
down, unshaken by the volatility of the market.
He's made it clear. This is a long -term play.
But here's where it gets interesting. As MicroStrategy
goes full throttle with its Bitcoin strategy,
the company is reshaping its corporate future.
Blending traditional business operations with
Bitcoin as a core asset. It's a fascinating shift
and we'll be watching closely to see how this
impacts other corporations considering a similar
move. This move also ties in perfectly with the
larger trend we're seeing where institutional
adoption of Bitcoin is increasing. And it's not
just about micro strategy. The Bitcoin market
itself is witnessing massive inflows. We're talking
about $3 billion per day entering the Bitcoin
network in the last month alone. That's not chump
change, folks. Whether it's institutional players
like MicroStrategy or regular investors looking
to diversify, Bitcoin's future is looking brighter
than ever. But that's not all. Oh no, we've got
more exciting updates in the Bitcoin ecosystem.
The UK is getting Bitcoin fever, MicroStrategy
on top of the list. Across the pond in the UK,
there's some fascinating news from the world
of investment. According to the Sunday Times,
MicroStrategy is currently the most popular buy
on Hargreaves Lansdowne, the UK's number one
investment platform. It's official. The British
are jumping on the Bitcoin bandwagon and they're
trusting MicroStrategy as the best way to gain
exposure to the world's largest cryptocurrency.
Now, this is a significant development. When
you have a legacy investment platform like Hargreaves
Lansdowne reporting such a massive uptake in
demand for MicroStrategy stock, It's clear that
Bitcoin is no longer a niche asset reserved for
tech enthusiasts and blockchain purists. This
is mainstream. People are taking Bitcoin seriously.
MicroStrategy's success in the US is clearly
influencing UK investors to follow suit. And
as Bitcoin becomes increasingly integrated into
corporate strategies, the demand for such stocks
is only going to rise. And here's a fun tidbit.
MicroStrategy stock is now becoming a proxy for
Bitcoin itself. So, if you're looking to get
exposure to Bitcoin without directly purchasing
the cryptocurrency, investing in companies like
MicroStrategy may be an avenue that many are
exploring. Just another reminder of how much
Bitcoin has infiltrated traditional financial
markets. Bitcoin on the Bloomberg homepage, a
changing landscape. Now let's talk about some
media recognition. Bitcoin is taking over the
Bloomberg homepage today. That's right, the world's
most influential business media outlet is giving
the world's top cryptocurrency the spotlight
it truly deserves. This marks another shift in
the way Bitcoin is being perceived by the mainstream
financial world. Not only are institutional investors
beginning to show serious interest, but now Bitcoin
is front and center in the media, often seen
alongside traditional financial assets like stocks,
bonds, and commodities. This mainstream media
attention signals that Bitcoin is no longer just
an obscure digital asset for early adopters.
It's a legitimate part of the financial conversation.
Speaking of global shifts, there's another fascinating
story out of Europe that's making waves in the
Bitcoin space. According to Forbes, Bitcoin mining
is playing a key role in Europe's energy transition.
How, you ask? Well, Bitcoin miners are stepping
in to help stabilize Europe's energy grids by
leveraging excess energy. In other words, Bitcoin
mining operations are using energy that would
otherwise go to waste and turning it into value.
Not just for the Bitcoin network, but for the
energy sector as a whole. And if that's not impressive
enough, many of these mining operations are integrating
with renewable energy sources, such as wind and
solar power, helping to reduce the continent's
carbon footprint. Bitcoin mining may have once
been viewed as a wasteful enterprise, but now
it's being recognized as a potential ally in
helping Europe achieve its clean energy goals.
Pretty cool, right? Jack Mallers and the Trump
connection. Could the US be stockpiling Bitcoin?
Now let's move to some speculation that's got
the crypto world buzzing. Jack Mallers, the CEO
of Strike and one of Bitcoin's biggest advocates,
has hinted that President Donald Trump may be
considering an executive order to acquire Bitcoin
for the US national reserves. If true, this would
be huge. For the US government to make such a
move would mark an unprecedented level of institutional
adoption and signal a major shift in how Bitcoin
is viewed not just as a store of value, but as
a strategic asset. Mallers has always been vocal
about Bitcoin's potential, and his latest comment
has ignited some interesting discussions. If
the Trump administration were to pull the trigger
on this, we could see Bitcoin officially transition
from a digital asset into a national treasury
reserve asset. Only time will tell. But we're
keeping a close eye on this one. Jack Dorsey's
Bitcoin love, the white paper is poetry. And
speaking of influential figures in the Bitcoin
space, let's talk about Jack Dorsey, the co -founder
of Twitter and CEO of Block, who recently declared
that the Bitcoin white paper is poetry. This
quote encapsulates the philosophical and ideological
allure of Bitcoin. For Dorsey, Bitcoin is more
than just a financial instrument. It represents
a decentralized future, a world where financial
freedom is accessible to all. This isn't just
a poetic moment. It's part of a larger narrative
where Bitcoin is increasingly being seen as not
just an investment, but a movement. Dorsey's
unwavering support is helping to bridge the gap
between Bitcoin's technological innovation and
its ideological appeal. The market at a glance,
Bitcoin price action and ETF flows. Now let's
bring it back to the Bitcoin price action. With
Bitcoin recently hitting an all -time high of
$107 ,000, it's clear that the bull market is
in full swing. Satoshi Nakamoto has now officially
become the 15th richest person in the world,
a truly symbolic milestone that highlights just
how far Bitcoin has come. Meanwhile, in the world
of exchange traded funds, ETFs, BlackRock's iBit
ETF recently bought up a massive $418 .8 million
worth of Bitcoin. The institutional flows are
growing stronger every day, and it seems the
path to mainstream adoption is becoming clearer.
Closing thoughts, what's next for Bitcoin? So
what does all of this mean for Bitcoin's future?
Well, it's looking more and more like Bitcoin
is on the verge of becoming a cornerstone of
both the global financial system and the technological
revolution. As the year closes out, we expect
to see more big announcements, price rallies,
and market adoption that will propel Bitcoin
into new heights. Will Bitcoin reach $200k in
2025? Could it even hit $339k? Only time will
tell, but if the trends we're seeing today continue,
there's no telling just how high this market
could soar. That's all for today's update on
the Bitcoin Street Journal Market Update. I hope
you enjoyed this whirlwind tour through the latest
Bitcoin news. As always, stay tuned for more
updates and remember to Hodiel tight. The future
of Bitcoin is looking brighter than ever. Thanks
for listening. I'm Anna and this is the Bitcoin
Street Journal market update. See you next time.