If Bitcoin goes to zero overnight, it will have a series of complex impacts on the financial market.
Scenarios of Bitcoin going to zero
1. Global ban: Countries join forces to strictly ban Bitcoin trading and mining.
2. Technical vulnerabilities: Blockchain technology is found to have major security vulnerabilities and suffers devastating attacks.
Impact
Miners: Lose the motivation to mine and stop supplying new Bitcoins.
Cryptocurrency market: The market with a market value of about $2.5 trillion collapses, causing wealth to evaporate.
Institutional investors: Institutions holding Bitcoin ETFs such as hedge funds and banks will face huge losses.
Corporate financial health: Companies like MicroStrategy and Tesla will suffer huge losses due to the Bitcoin they hold, affecting their stock prices and financial conditions.
Financial market volatility: It may cause sharp fluctuations in the stock and bond markets in the short term.
Small impact on retail investors: But overall market confidence is damaged, which may lead to broader economic consequences.
The possibility of Bitcoin going to zero
Despite the above extreme situations, the actual possibility of Bitcoin going to zero is low. Reasons include:
Bitcoin has become one of the top ten assets in the world and has a certain degree of market recognition.
Even in the face of serious events in history (such as the 2011 mtGox incident), Bitcoin has survived.
Advances in security technology have made the Bitcoin network more robust and more resistant to attacks.
In summary, although there are frequent claims that Bitcoin will eventually return to zero, the current situation shows that the probability of such an extreme outcome is very low. More importantly, for many people, it is better to worry about whether a potential investment opportunity has been missed than to worry about Bitcoin returning to zero.
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