🚨Breaking! Jack Ma has purchased 20 billion BTC!
I have to say some unscrupulous media really know how to hype, this has even become a trending search term.
Let's analyze whether Jack Ma actually needs to buy Bitcoin based on facts.
1. Analysis from Bitcoin's market value
Let's analyze based on the 2020 market value: On May 1, 2020, the price of each Bitcoin was about 63,000 RMB. The total market value of Bitcoin is 1.15 trillion RMB.
Alibaba's market value: 540 billion USD = 5400 * 7.09 = 38,286 billion RMB.
Now Bitcoin is already considered high, but the total amount of Bitcoin is less than one-third of Alibaba's value.
2. Does Jack Ma need to buy Bitcoin?
If Jack Ma creates a cryptocurrency (which would be quite easy for him), it might not exceed Bitcoin's market value. But it wouldn't be too far off. All Jack Ma has to do is come out and say a word, that this cryptocurrency is issued by me. Many people would then exchange Bitcoin for this currency. Jack Ma doesn't even need to spend money to buy it! He can acquire an extremely large amount of Bitcoin (exceeding 20 billion is of course possible), this is the essence of the crypto world! The harsh reality is that Jack Ma doesn't need to spend money to buy.
3. The value of Bitcoin
The current main values are:
First, financial products (transactions, contracts).
Second, it serves a certain international currency function. Holding Bitcoin allows for easy conversion to various national fiat currencies.
Third, the payment function. You can see the ransomware demanding Bitcoin as a glimpse. You can even use Bitcoin to purchase anything you want.
Finally, the dean has been observing the Ethereum chain puppies, feels very promising, worth ambushing!
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