Welcome to the Bitcoin Street Journal, Bitcoin
Market Update, where we bring you daily live
Bitcoin market updates, current Bitcoin technical
analysis, BTC price, market capitalization, and
market supply. In this breaking headline news
edition of episode one week, 21, Tuesday, May
30th, 2023, we've got all the latest news and
insights into the Bitcoin world you need to stay
ahead of the game. Don't fall victim to the government
or central banks. Subscribe to our podcast and
stay updated on all things Bitcoin. In today's
episode, we'll cover the global financial instrument
market and its potential for Bitcoin, the current
parity of Bitcoin with USD, retail investors'
preference for Bitcoin, the US government's printing
of money out of thin air, and MicroStrategy's
continuous increase in Bitcoin holdings. Have
you heard about the total global amount of financial
instruments on planet Earth? It's roughly $400
trillion. Now, imagine if Bitcoin captured just
a percentage of that global amount. We could
be talking about $1M, $2M per Bitcoin. Can you
imagine that? It's like Satoshi Nakamoto said,
it's a magical property that has yet to be discovered.
In this case, it's Bitcoin's ability to be transported
over communication channels. It's truly a game
changer. But not everyone is on board with Bitcoin.
Some have even proposed a digital asset mining
energy tax. However, It seems like that proposal
has been taken off the table, according to US
Congressman Warren Davidson. Did you know that
on February 9th, 2011, Bitcoin reached parity
with the US dollar for the first time? Since
then, depending on how you look at it, either
dollars got way cheaper to buy or Bitcoin got
way more expensive to buy. It's all about perspective.
It's interesting to see which CEOs own Bitcoin.
From Tesla and Uber to PayPal and Reddit, it
seems everyone is following the money and investing
in Bitcoin. What about retail investors? Well,
according to a recent report by Bloomberg, US
retail investors prefer holding Bitcoin over
USD, especially if the US hits the debt ceiling.
It's not surprising considering how much Bitcoin
has been growing in popularity. Speaking of growth,
MicroStrategy's Bitcoin holding keeps going up.
Since August 2020, their Bitcoin holding has
increased every quarter. It's clear that they
see the value in investing in Bitcoin. And finally,
It's important to remember that the U .S. government
prints money out of thin air. U .S. Congressman
Brad Sherman even admitted it and said, maybe
we do, but we're the U .S. government. It's no
surprise that people are opting out of this madness
and turning to Bitcoin instead. And speaking
of Bitcoin, have you heard about the Lightning
Network and Liquid Network? They complement each
other well and make transactions easier and faster.
In today's episode, we discuss the vast potential
of Bitcoin as a financial instrument and its
increasing value compared to the US dollar, as
well as the growing interest of retail investors
and companies like MicroStrategy in this cryptocurrency.
Thanks for listening to today's episode. I'll
see you guys at the next one. And don't forget
to subscribe.