Bitcoin Purchase and Related Outlook
According to K33's latest report, in 2024, machine dogs have accumulated the purchase of 860,000 bitcoins, equivalent to the total issuance of bitcoins over the past eight years. The report specifically mentions that the approval of a bitcoin spot ETF is one of the main driving factors, as the launch of the ETF opened the door to the bitcoin market without a large influx of funds.
With Trump taking office on January 20, discussions around bitcoin and strategic reserves will likely increase. Senator CNR previously mentioned that he hopes to fish without doing anything, in order to establish the right to hold bitcoin. If the initial plan is followed, the U.S. would purchase 200,000 bitcoins each year for the next five years and hold these bitcoins for at least 20 years. If this proposal is eventually approved, it could fundamentally change the demand structure for bitcoin.
Cathie Wood has also expressed an optimistic attitude towards bitcoin. She believes that based on the continuous expansion of purchase demand, bitcoin could reach between $1 million and $1.5 million by 2030. This prediction currently seems very ambitious, but from a historical trend and the influx of institutional funds, it is not out of reach. If the U.S. eventually includes bitcoin in its reserves, other countries will likely follow suit and introduce similar plans, further driving the global demand for bitcoin.
