BlackRock's Bitcoin holdings have exceeded Grayscale.
This means that the market selling pressure led by Grayscale is no longer enough to affect the market. At present, there is only one Mentougou left in the entire market.
Why is the market optimistic that Bitcoin will reach at least 12 in this bull market?
Because ETF institutions such as BlackRock have entered the market and continuously harvested chips, their holding costs are concentrated at 68,000.
They will lose money if the price is lower than this, but will BlackRock do a loss-making business?
BlackRock's ambitions go far beyond this. They have already applied to open an exchange on their own.
This move is certainly not aimed at traditional financial products, but various financial products specifically for cryptocurrencies, such as Bitcoin ETF, Ethereum ETF and other cryptocurrency ETFs.
This will be a pioneering move.
BlackRock, the first to try, is likely to eat up this wealth opportunity.
Let's look back at Hong Kong's web3, which is hard to describe.
If all mainstream exchanges withdraw, how can you play? The thinking of wanting both is useless for an extremely innovative track.
I still hope that this problem can be properly solved.
If you wake up one day and find that OKX has passed the Hong Kong registration application, don't be surprised. This is the correct way to open the web3 innovation capital.
However, the road ahead is full of thorns.
Some bad habits really need to be changed. Others will not indulge you and play with you.
