Oh no, the discussion about Bitcoin has now shifted to whether it can reach 120,000 by the end of the year. Yuan Fang, what do you think?
Today, Bitcoin reached a new high, briefly breaking through $106,569, setting the record for the longest seven-week consecutive rise since 2021. This surge was mainly boosted by comments from the incoming U.S. President Trump about establishing a Bitcoin strategic reserve.
When Trump was asked in an interview with CNBC last week whether he planned to establish a crypto reserve similar to the strategic petroleum reserve, he replied, 'Yes, I think so.'
Looking back at Trump's repeated statements supporting the development of cryptocurrency during his previous campaigns. He has announced multiple times during his campaign that he will strive to make the United States the 'capital of cryptocurrency on Earth.' In a recent interview, he stated, 'We will do some great things in the field of cryptocurrency; other countries are accepting it, but we want to be the leaders.'
A series of personnel appointments by Trump further confirmed his determination to develop cryptocurrency. He nominated cryptocurrency supporter Paul Atkins as chairman of the U.S. Securities and Exchange Commission (SEC) and appointed former PayPal COO David Sacks as the White House's first director of artificial intelligence and cryptocurrency affairs. These moves sent a clear signal of policy shift to the market, directly boosting investor confidence.
Why does Trump support cryptocurrency so 'stubbornly'? Because he is scared.
According to Trump's second son, Eric Trump, after the Capitol Hill riots in 2021, some major banks cut off business ties with the Trump family, which made them realize the importance of decentralized finance. On the 15th at the Bitcoin Middle East and North Africa conference held in the UAE, Eric said that after his father took office, his government would become the most cryptocurrency-friendly government in American history. He promised that the U.S. would play a leading role in the 'digital revolution,' echoing what Trump said during his campaign. Eric told the audience, 'You will witness the most pro-cryptocurrency president in American history.'
This is the basic starting point for national or major players, but how can the middle class or ordinary people accept Bitcoin?
The CEO of MicroStrategy, the largest publicly traded Bitcoin-holding company, Saylor, once said that Bitcoin is like Prometheus giving us fire; Satoshi Nakamoto provided us with a game where we can all win. Some things are not meant to be done on a network that can censor what you say and freeze your account. Bitcoin is a currency network; it does not censor the money you send and does not freeze your account. Its design means that marginally, over time, you are winning this game.
Just like holding Bitcoin is safe, while your deposits in local banks may face risks. If you need to leave a country or escape a crisis, you can retain wealth held in Bitcoin, whereas land, buildings, local currency, or bank deposits may be lost. Therefore, Bitcoin actually represents the most powerful and greatest city in cyberspace, which will become the center of the digital economy in the future.
Rome became priceless due to the word-of-mouth of its wealth center, and the lands of Manhattan and New York were just small ports and gathering places for criminals during previous generations, going unnoticed. However, those who persisted and took action yearned to own this land, at least while it was still in the upward phase.
Bitcoin may just be one of the choices in life; buying a house, collecting antiques, or investing in the stock market are all options. Bitcoin is like another form of savings that has space, with the beneficiary being you several years later.
No one has lost money by buying Bitcoin, nor has anyone made money by shorting Bitcoin. So, if you are just looking for returns in four months, four weeks, or four days, you may feel anxious. If you can hold for 10 years, you will become a legend.
