Did you know that Bitcoin's first real-world transaction was in 2010 when a programmer paid 10,000 BTC for two pizzas?

What this shows is that early adopters can significantly benefit from new technologies, even if their value isn't obvious from the start.

In this edition of Equity Eats, we have the following articles for you:

• Bitcoin Slips: Despite reaching a record high near $74,000 in mid-March, Bitcoin has recently fallen 📉

• Tesla Stock Is Soaring: Tesla's stock has surged, fueled by the recent approval of Elon Musk's 2018 pay package 🚀

• Soft Retail Sales In May, Or Were They? May's retail sales growth appeared sluggish at 0.1%, missing economists' expectations 😮

Stay tuned as we explore these topics and provide insights to help you navigate the world of trading. Have a great read!

Bitcoin Slips 📉

Bitcoin has fallen to $64 ,079 after hitting a record high near $74,000 in mid-March amid a surge of interest from new spot exchange-traded funds.

What’s odd about the decline is that crypto usually does well when risk assets do well and government bond yields decline.

Recently, equities are making new highs and bond yields are well below the highs of the year.

While the decline in Bitcoin has been modest so far, the break in correlation with other assets is noteworthy, and price action is worth monitoring for the Crypto enthusiasts 🔍

Tesla Stock Is Soaring 🚀

Elon Musk’s approved pay package is the main reason behind the recent move higher.

This past week, shareholders re-approved Musk’s 2018 pay package, awarding the CEO some 300 million incentive-laden stock options.

They had to vote again because a Delaware judge voided the deal in January, citing inadequate disclosures to investors 🏛️

Wedbush analyst Dan Ives called the pay vote a $20 to $25 overhang on Tesla stock.

If he’s correct, that would put Tesla stock at about $200.

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Soft Retail Sales In May, Or Were They? 😮

May seemed to be another lackluster month for consumer spending as retail sales rose by just 0.1% in May from the previous month.

The figure was below economists’ estimates calling for a 0.3% uptick.

According to commentators, the “May numbers and April revisions show pretty clearly that the consumer and broader economy are hitting a wall.”

It might have taken two years, but the Fed’s hawkish policy in 2022 and 2023 is finally having an effect.

But few mentioned that “Control Group” retail sales rose by 0.4% over the prior month, which came right in line with expectations 🎯

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