Alright, welcome everyone to another episode
of the Bitcoin Street Journal Market Update.
I'm Avery and I'm here with the brilliant Eden
filling in today for the amazing Hannah. How's
it going Eden? Hey Avery, doing great, thanks.
You know, just trying to keep up with everything
happening in the world of Bitcoin. It's like
a full -time job these days. So what do you think
about all of these bullish signals? Increased
search volumes, Cynthia Luna saying Bitcoin is
going to increase dramatically. It's like, what's
not to love? Yeah, it's definitely looking pretty
positive, right? I mean, when you see search
interest going up, it suggests that more people
are like actually paying attention and considering
Bitcoin, which, you know, is always a good sign.
And Lamis, she's been like a major advocate,
hasn't she? So, you know, that's that's always
good to hear. Oh, I forgot one. Tom Lee still
saying Bitcoin could hit like two hundred and
fifty thousand dollars this year. Two hundred
and fifty thousand? Seriously? What's he basing
that on? Uh huh. He's saying it's because Bitcoin's,
you know, responding to global liquidity. Global
liquidity? What even is that? It's basically
how much, you know, cash is floating around in
the global financial system. Like when there's
more of it, there's, you know, more money for
investments like Bitcoin. It's, you know, kind
of like a rising tide lifts all boats kind of
thing. Well, meta shareholders rejected some
kind of treasury assessment. Like 95 % voted
against it. Is that bad? Well, it's hard to say
for sure. I mean, on the one hand, it could show
that they're not really ready to, you know, fully
embrace crypto, you know? And that's definitely
a setback for corporate adoption overall. Yeah,
it's like they're saying, nah, we're good with
the regular stuff. Yeah, exactly. It's like a
vote of no confidence in crypto treasury strategies,
I guess. Okay, so maybe corporate crypto adoption
is slowing down? So it's not all doom and gloom
for crypto in the corporate world, right? I saw
Tether is investing in some chalan company to
grow digital asset infrastructure in Latin America.
That's cool, isn't it? Yeah, I saw that too.
That's actually pretty interesting. It's like...
Okay, maybe the big U .S. tech companies aren't
so sure, but, you know, other players are definitely
seeing the opportunity. Right. Like, there's
still demand, even if it's not, like, the cool
thing to do in Silicon Valley. Exactly. Latin
America has a huge need for alternative financial
systems because of, you know, limited banking
access and, like, high inflation. I think it's
a smart move for Tether. Yeah, Similar Scientific
bought more Bitcoin, like a lot more. But I also
saw something about a Q1 loss. What's going on
there? Okay, yeah, Similar Scientific. They're
interesting. They added like 185 Bitcoin, bringing
their total holdings to over 4 ,000. But yeah,
you're right. They did report a Q1 loss of like
31 .1 million. Ouch. So like... Is this a good
thing or a bad thing? I'm confused. Well, it's
complicated, right? Their Bitcoin holdings yielded
like 27 .7 % year -to -date, which is awesome.
But the Q1 loss probably comes from, you know,
accounting stuff. You know, like mark -to -market
adjustments or things like that, I think. So
it's like a paper loss, not a real loss. Pretty
much. They're playing the long game and... You
know, they're clearly bullish on Bitcoin. It's
like a strategic move, even if it looks a little
rough on the quarterly reports, you know? Uh
-oh. California just passed the bill, right?
About seizing Bitcoin left on exchanges? What's
the deal with that? Like, is my Bitcoin safe?
Okay. So this is like a very important thing
to understand, Avery. California... just passed
a bill that lets the state seize Bitcoin, you
know, and like other crypto left on exchanges
after three years. Three years? Seriously? Yeah,
it's under something called the unclaimed property
law, which like, okay, what does that even mean?
I have no idea. So the state just like takes
your Bitcoin? Yeah, basically. If it's sitting
there, untouched for three years, then poof,
California says thank you very much and just
snatches it. Okay, that's terrifying. What do
I do? This is where that saying comes in, you
know, not your keys, not your coins. If you don't
control the private keys to your Bitcoin, you
don't really own it. You know, it's like you're
trusting the exchange to hold it for you. And
well, well, I mean, anything is possible, right?
I think it would take Like a major shift in how
the world sees money and the whole financial
system. Semmler Scientific bought another 20
million in Bitcoin. Seriously, these guys are
all in. How much do they even have now? Well,
BlackRock's saying nice things about Bitcoin,
too. This is crazy. It's like everyone's finally
realizing what's up. But what does it mean? And
now Trump's getting in on the ETF game. Troop
Social filed for a Bitcoin ETF? What? Wait, seriously?
I hadn't seen that. So is this like a political
play or is he like actually bullish now? I thought
he was, you know, kind of wishy washy on crypto
before. So what about Circle's IPO? Like 1 .1
billion. That's huge. What's that say about the
stablecoin market in general? Well, it means,
you know, stable coins aren't just some niche
thing anymore. They're becoming like a really
integral part of the crypto ecosystem, right?
I mean, institutional investors are obviously
seeing the potential. Wrapping up with some final
bullish takes, sailors saying Bitcoin will cost
a million dollars when banks tell you to buy
it. Right. And Tim Draper, 250k this year. OK.
Alright Eden, thanks for breaking all of this
down with me. Yeah, no problem. It's always fun
to try and make sense of all this craziness.
And thank you everyone for tuning in to the Bitcoin
Street Journal Market Update. We'll keep you
posted on everything Bitcoin.