WEBVTT 00:00:00.000 --> 00:00:02.379 The Bitcoin Street Journal Market Update, hosted 00:00:02.379 --> 00:00:05.139 by Anna. Breaking news from the Bitcoin world. 00:00:05.519 --> 00:00:08.039 The winds of change are blowing strong. December 00:00:08.039 --> 00:00:11.839 17, 2024. Welcome back to the Bitcoin Street 00:00:11.839 --> 00:00:14.939 Journal Market Update, your go -to podcast for 00:00:14.939 --> 00:00:17.280 everything you need to know about Bitcoin and 00:00:17.280 --> 00:00:19.379 the rapidly evolving world of cryptocurrency. 00:00:20.260 --> 00:00:22.899 I'm your host, Anna. And let me tell you, the 00:00:22.899 --> 00:00:25.059 markets are heating up and there's no shortage 00:00:25.059 --> 00:00:27.239 of game changing updates to dive into today. 00:00:27.530 --> 00:00:29.690 So buckle up, grab your digital wallets, and 00:00:29.690 --> 00:00:32.229 let's get started. MicroStrategy's megabitcoin 00:00:32.229 --> 00:00:34.609 bet, a billion dollar gamble. Let's start with 00:00:34.609 --> 00:00:38.409 some explosive news coming out of the U .S. MicroStrategy, 00:00:38.829 --> 00:00:40.829 the business intelligence giant that has made 00:00:40.829 --> 00:00:43.829 Bitcoin its favorite digital asset, is back in 00:00:43.829 --> 00:00:45.969 the game, and they're making headlines with a 00:00:45.969 --> 00:00:49.530 massive new purchase. In a bold move, MicroStrategy 00:00:49.530 --> 00:00:53.630 has just acquired a whopping 15 ,350 Bitcoin 00:00:53.630 --> 00:00:57.960 for a cool $1 .5 billion. This purchase brings 00:00:57.960 --> 00:01:00.420 their total Bitcoin holdings to an astronomical 00:01:00.420 --> 00:01:06.799 439 ,000 BTC, valued at $45 .6 billion. Talk 00:01:06.799 --> 00:01:09.879 about a Bitcoin bonanza. This latest acquisition 00:01:09.879 --> 00:01:12.579 not only reinforces their reputation as one of 00:01:12.579 --> 00:01:14.920 the biggest corporate Bitcoin investors, but 00:01:14.920 --> 00:01:17.180 also puts them on the map as a major player in 00:01:17.180 --> 00:01:20.010 the Nasdaq 100. Now, we've seen a lot of people 00:01:20.010 --> 00:01:22.250 scratching their heads over MicroStrategy's long 00:01:22.250 --> 00:01:25.049 -term Bitcoin strategy. But CEO Michael Saylor 00:01:25.049 --> 00:01:27.530 has been firm in his belief that Bitcoin is the 00:01:27.530 --> 00:01:30.349 ultimate store of value. Despite criticisms, 00:01:30.810 --> 00:01:33.390 yes, there are always critics. Saylor is doubling 00:01:33.390 --> 00:01:36.049 down, unshaken by the volatility of the market. 00:01:36.409 --> 00:01:38.969 He's made it clear. This is a long -term play. 00:01:39.409 --> 00:01:42.730 But here's where it gets interesting. As MicroStrategy 00:01:42.730 --> 00:01:45.109 goes full throttle with its Bitcoin strategy, 00:01:45.609 --> 00:01:48.010 the company is reshaping its corporate future. 00:01:48.280 --> 00:01:50.780 Blending traditional business operations with 00:01:50.780 --> 00:01:54.379 Bitcoin as a core asset. It's a fascinating shift 00:01:54.379 --> 00:01:56.780 and we'll be watching closely to see how this 00:01:56.780 --> 00:02:00.459 impacts other corporations considering a similar 00:02:00.459 --> 00:02:03.959 move. This move also ties in perfectly with the 00:02:03.959 --> 00:02:06.459 larger trend we're seeing where institutional 00:02:06.459 --> 00:02:09.400 adoption of Bitcoin is increasing. And it's not 00:02:09.400 --> 00:02:11.960 just about micro strategy. The Bitcoin market 00:02:11.960 --> 00:02:15.300 itself is witnessing massive inflows. We're talking 00:02:15.300 --> 00:02:18.180 about $3 billion per day entering the Bitcoin 00:02:18.180 --> 00:02:20.960 network in the last month alone. That's not chump 00:02:20.960 --> 00:02:23.539 change, folks. Whether it's institutional players 00:02:23.539 --> 00:02:26.080 like MicroStrategy or regular investors looking 00:02:26.080 --> 00:02:28.979 to diversify, Bitcoin's future is looking brighter 00:02:28.979 --> 00:02:31.479 than ever. But that's not all. Oh no, we've got 00:02:31.479 --> 00:02:33.680 more exciting updates in the Bitcoin ecosystem. 00:02:34.319 --> 00:02:36.759 The UK is getting Bitcoin fever, MicroStrategy 00:02:36.759 --> 00:02:39.939 on top of the list. Across the pond in the UK, 00:02:40.439 --> 00:02:42.240 there's some fascinating news from the world 00:02:42.240 --> 00:02:45.000 of investment. According to the Sunday Times, 00:02:45.520 --> 00:02:47.879 MicroStrategy is currently the most popular buy 00:02:47.879 --> 00:02:50.800 on Hargreaves Lansdowne, the UK's number one 00:02:50.800 --> 00:02:53.759 investment platform. It's official. The British 00:02:53.759 --> 00:02:56.599 are jumping on the Bitcoin bandwagon and they're 00:02:56.599 --> 00:02:59.560 trusting MicroStrategy as the best way to gain 00:02:59.560 --> 00:03:01.960 exposure to the world's largest cryptocurrency. 00:03:02.620 --> 00:03:05.259 Now, this is a significant development. When 00:03:05.259 --> 00:03:07.599 you have a legacy investment platform like Hargreaves 00:03:07.599 --> 00:03:10.460 Lansdowne reporting such a massive uptake in 00:03:10.460 --> 00:03:13.439 demand for MicroStrategy stock, It's clear that 00:03:13.439 --> 00:03:16.439 Bitcoin is no longer a niche asset reserved for 00:03:16.439 --> 00:03:19.580 tech enthusiasts and blockchain purists. This 00:03:19.580 --> 00:03:22.819 is mainstream. People are taking Bitcoin seriously. 00:03:23.800 --> 00:03:26.060 MicroStrategy's success in the US is clearly 00:03:26.060 --> 00:03:29.139 influencing UK investors to follow suit. And 00:03:29.139 --> 00:03:31.539 as Bitcoin becomes increasingly integrated into 00:03:31.539 --> 00:03:34.280 corporate strategies, the demand for such stocks 00:03:34.280 --> 00:03:37.500 is only going to rise. And here's a fun tidbit. 00:03:38.120 --> 00:03:40.900 MicroStrategy stock is now becoming a proxy for 00:03:40.900 --> 00:03:43.819 Bitcoin itself. So, if you're looking to get 00:03:43.819 --> 00:03:46.139 exposure to Bitcoin without directly purchasing 00:03:46.139 --> 00:03:48.960 the cryptocurrency, investing in companies like 00:03:48.960 --> 00:03:51.599 MicroStrategy may be an avenue that many are 00:03:51.599 --> 00:03:54.060 exploring. Just another reminder of how much 00:03:54.060 --> 00:03:56.000 Bitcoin has infiltrated traditional financial 00:03:56.000 --> 00:03:58.939 markets. Bitcoin on the Bloomberg homepage, a 00:03:58.939 --> 00:04:01.439 changing landscape. Now let's talk about some 00:04:01.439 --> 00:04:04.219 media recognition. Bitcoin is taking over the 00:04:04.219 --> 00:04:07.080 Bloomberg homepage today. That's right, the world's 00:04:07.080 --> 00:04:09.439 most influential business media outlet is giving 00:04:09.439 --> 00:04:12.219 the world's top cryptocurrency the spotlight 00:04:12.219 --> 00:04:15.080 it truly deserves. This marks another shift in 00:04:15.080 --> 00:04:17.139 the way Bitcoin is being perceived by the mainstream 00:04:17.139 --> 00:04:20.339 financial world. Not only are institutional investors 00:04:20.339 --> 00:04:23.100 beginning to show serious interest, but now Bitcoin 00:04:23.100 --> 00:04:25.600 is front and center in the media, often seen 00:04:25.600 --> 00:04:28.220 alongside traditional financial assets like stocks, 00:04:28.699 --> 00:04:32.350 bonds, and commodities. This mainstream media 00:04:32.350 --> 00:04:34.889 attention signals that Bitcoin is no longer just 00:04:34.889 --> 00:04:37.250 an obscure digital asset for early adopters. 00:04:37.790 --> 00:04:40.149 It's a legitimate part of the financial conversation. 00:04:41.790 --> 00:04:45.910 Speaking of global shifts, there's another fascinating 00:04:45.910 --> 00:04:48.329 story out of Europe that's making waves in the 00:04:48.329 --> 00:04:51.769 Bitcoin space. According to Forbes, Bitcoin mining 00:04:51.769 --> 00:04:54.649 is playing a key role in Europe's energy transition. 00:04:55.310 --> 00:04:58.089 How, you ask? Well, Bitcoin miners are stepping 00:04:58.089 --> 00:05:00.430 in to help stabilize Europe's energy grids by 00:05:00.430 --> 00:05:03.490 leveraging excess energy. In other words, Bitcoin 00:05:03.490 --> 00:05:05.610 mining operations are using energy that would 00:05:05.610 --> 00:05:07.930 otherwise go to waste and turning it into value. 00:05:08.470 --> 00:05:10.850 Not just for the Bitcoin network, but for the 00:05:10.850 --> 00:05:13.970 energy sector as a whole. And if that's not impressive 00:05:13.970 --> 00:05:17.389 enough, many of these mining operations are integrating 00:05:17.389 --> 00:05:20.769 with renewable energy sources, such as wind and 00:05:20.769 --> 00:05:23.829 solar power, helping to reduce the continent's 00:05:23.829 --> 00:05:26.360 carbon footprint. Bitcoin mining may have once 00:05:26.360 --> 00:05:28.720 been viewed as a wasteful enterprise, but now 00:05:28.720 --> 00:05:31.519 it's being recognized as a potential ally in 00:05:31.519 --> 00:05:33.540 helping Europe achieve its clean energy goals. 00:05:34.100 --> 00:05:36.339 Pretty cool, right? Jack Mallers and the Trump 00:05:36.339 --> 00:05:38.500 connection. Could the US be stockpiling Bitcoin? 00:05:39.120 --> 00:05:41.079 Now let's move to some speculation that's got 00:05:41.079 --> 00:05:44.600 the crypto world buzzing. Jack Mallers, the CEO 00:05:44.600 --> 00:05:47.220 of Strike and one of Bitcoin's biggest advocates, 00:05:47.879 --> 00:05:50.550 has hinted that President Donald Trump may be 00:05:50.550 --> 00:05:53.029 considering an executive order to acquire Bitcoin 00:05:53.029 --> 00:05:56.670 for the US national reserves. If true, this would 00:05:56.670 --> 00:05:59.769 be huge. For the US government to make such a 00:05:59.769 --> 00:06:02.649 move would mark an unprecedented level of institutional 00:06:02.649 --> 00:06:06.069 adoption and signal a major shift in how Bitcoin 00:06:06.069 --> 00:06:08.970 is viewed not just as a store of value, but as 00:06:08.970 --> 00:06:11.870 a strategic asset. Mallers has always been vocal 00:06:11.870 --> 00:06:14.689 about Bitcoin's potential, and his latest comment 00:06:14.689 --> 00:06:17.800 has ignited some interesting discussions. If 00:06:17.800 --> 00:06:19.939 the Trump administration were to pull the trigger 00:06:19.939 --> 00:06:22.980 on this, we could see Bitcoin officially transition 00:06:22.980 --> 00:06:26.139 from a digital asset into a national treasury 00:06:26.139 --> 00:06:29.040 reserve asset. Only time will tell. But we're 00:06:29.040 --> 00:06:31.480 keeping a close eye on this one. Jack Dorsey's 00:06:31.480 --> 00:06:34.259 Bitcoin love, the white paper is poetry. And 00:06:34.259 --> 00:06:36.160 speaking of influential figures in the Bitcoin 00:06:36.160 --> 00:06:39.199 space, let's talk about Jack Dorsey, the co -founder 00:06:39.199 --> 00:06:42.019 of Twitter and CEO of Block, who recently declared 00:06:42.019 --> 00:06:45.379 that the Bitcoin white paper is poetry. This 00:06:45.379 --> 00:06:48.079 quote encapsulates the philosophical and ideological 00:06:48.079 --> 00:06:51.560 allure of Bitcoin. For Dorsey, Bitcoin is more 00:06:51.560 --> 00:06:53.980 than just a financial instrument. It represents 00:06:53.980 --> 00:06:56.579 a decentralized future, a world where financial 00:06:56.579 --> 00:06:59.199 freedom is accessible to all. This isn't just 00:06:59.199 --> 00:07:01.939 a poetic moment. It's part of a larger narrative 00:07:01.939 --> 00:07:04.480 where Bitcoin is increasingly being seen as not 00:07:04.480 --> 00:07:07.920 just an investment, but a movement. Dorsey's 00:07:07.920 --> 00:07:10.199 unwavering support is helping to bridge the gap 00:07:10.199 --> 00:07:13.019 between Bitcoin's technological innovation and 00:07:13.019 --> 00:07:15.910 its ideological appeal. The market at a glance, 00:07:16.250 --> 00:07:19.170 Bitcoin price action and ETF flows. Now let's 00:07:19.170 --> 00:07:21.589 bring it back to the Bitcoin price action. With 00:07:21.589 --> 00:07:23.910 Bitcoin recently hitting an all -time high of 00:07:23.910 --> 00:07:27.730 $107 ,000, it's clear that the bull market is 00:07:27.730 --> 00:07:30.970 in full swing. Satoshi Nakamoto has now officially 00:07:30.970 --> 00:07:33.709 become the 15th richest person in the world, 00:07:34.089 --> 00:07:36.490 a truly symbolic milestone that highlights just 00:07:36.490 --> 00:07:39.449 how far Bitcoin has come. Meanwhile, in the world 00:07:39.449 --> 00:07:43.629 of exchange traded funds, ETFs, BlackRock's iBit 00:07:43.629 --> 00:07:48.699 ETF recently bought up a massive $418 .8 million 00:07:48.699 --> 00:07:51.899 worth of Bitcoin. The institutional flows are 00:07:51.899 --> 00:07:54.300 growing stronger every day, and it seems the 00:07:54.300 --> 00:07:56.579 path to mainstream adoption is becoming clearer. 00:07:57.000 --> 00:07:59.060 Closing thoughts, what's next for Bitcoin? So 00:07:59.060 --> 00:08:01.160 what does all of this mean for Bitcoin's future? 00:08:01.980 --> 00:08:03.939 Well, it's looking more and more like Bitcoin 00:08:03.939 --> 00:08:06.379 is on the verge of becoming a cornerstone of 00:08:06.379 --> 00:08:09.439 both the global financial system and the technological 00:08:09.439 --> 00:08:12.930 revolution. As the year closes out, we expect 00:08:12.930 --> 00:08:15.069 to see more big announcements, price rallies, 00:08:15.290 --> 00:08:17.230 and market adoption that will propel Bitcoin 00:08:17.230 --> 00:08:20.910 into new heights. Will Bitcoin reach $200k in 00:08:20.910 --> 00:08:26.709 2025? Could it even hit $339k? Only time will 00:08:26.709 --> 00:08:29.170 tell, but if the trends we're seeing today continue, 00:08:29.550 --> 00:08:31.329 there's no telling just how high this market 00:08:31.329 --> 00:08:34.490 could soar. That's all for today's update on 00:08:34.490 --> 00:08:37.629 the Bitcoin Street Journal Market Update. I hope 00:08:37.629 --> 00:08:39.990 you enjoyed this whirlwind tour through the latest 00:08:39.990 --> 00:08:43.409 Bitcoin news. As always, stay tuned for more 00:08:43.409 --> 00:08:47.570 updates and remember to Hodiel tight. The future 00:08:47.570 --> 00:08:50.330 of Bitcoin is looking brighter than ever. Thanks 00:08:50.330 --> 00:08:52.210 for listening. I'm Anna and this is the Bitcoin 00:08:52.210 --> 00:08:54.190 Street Journal market update. See you next time.