Hey, everyone, and welcome to the Bitcoin Street
Journal podcast. I'm Laura. And I'm Avery. We're
super excited to dive into the latest Bitcoin
happenings with you. That's right. We're aiming
to keep you in the loop with everything important
in the Bitcoin world, but in a way that's, you
know, easy to digest. Exactly. Think of this
as your quick coffee break update on Bitcoin.
We'll be covering a few key stories today, keeping
it all under 20 minutes. So grab your headphones,
maybe a cup of coffee, and let's get started.
All right, so kicking things off, let's talk
about the latest buzz around Bitcoin ETFs, Lara.
Specifically, there's been some interesting movement
with BlackRock's iShares Bitcoin Trust, ticker
symbol IBTC. Oh yeah, I saw something about that.
What's the deal? Well, it looks like they've
updated their S1 form with the SEC. And get this,
they've listed Jane Street and JP Morgan Securities
as authorized participants. Jane Street and JP
Morgan? That's pretty huge, right? I mean, those
are some major players in the financial world.
Absolutely. It basically means that these firms
will be able to create and redeem shares of the
ETF. Think of it like they're the market makers,
ensuring there's enough liquidity. Ah, OK, that
makes sense. So more liquidity, potentially smoother
trading for the ETF? Exactly. And it's a big
vote of confidence, I think. Having names like
Jane Street and JP Morgan attached adds a certain
legitimacy to the whole Bitcoin ETF thing. Definitely.
It's like saying, hey, we're serious about this.
And so are these established financial institutions.
So how does this affect the average Bitcoin enthusiast
or someone just getting into crypto? Well, for
starters, a Bitcoin ETF makes it way easier for
people to invest in Bitcoin without actually
holding the Bitcoin themselves. You know, no
need to worry about private keys or complicated
wallets. It's just like buying any other stock
or ETF. Right. Lower barrier to entry. I can
see how that would appeal to a lot of people
who are curious about Bitcoin, but maybe intimidated
by the tech side of things. Exactly. And the
fact that BlackRock, with these major players
on board, is pushing forward, it could potentially
open the floodgates for more institutional investment
in Bitcoin, which, of course, could drive up
demand and potentially the price. So good news
for Bitcoin holders, potentially. Potentially,
yeah. I mean, nothing is guaranteed, of course.
but it's definitely a positive signal. Okay,
next up, let's dive into something a little different.
There's been some interesting developments with
Bitcoin mining and energy consumption. Did you
see that report about the Bitcoin Mining Council's
findings, Avery? I did catch a glimpse of that,
yeah. Something about the environmental impact,
right? Lay it on me. OK, so the Bitcoin Mining
Council, they released their Q4 2023 report,
and it actually showed some pretty encouraging
trends regarding the sustainability of Bitcoin
mining. Oh, really? I always hear about how Bitcoin
mining is like, you know, destroying the planet.
Right. That's the common narrative. But this
report paints a slightly different picture. Apparently,
the sustainable electricity mix used for Bitcoin
mining increased to 54 .5 % in Q4 2023. Wow,
over half!