The violent market finally gave investors who had been struggling in the past a chance to feel proud. Since the dust settled on the US presidential election, the market FOMO sentiment has become increasingly strong, and the BTC daily chart has achieved 7 consecutive increases, which is quite rare.
BTC broke through $70,000 from the bottom range of $67,000. On November 13, it broke through $80,000 again. After the integer barriers were continuously broken through, BTC passed five levels and exceeded $90,000, reaching a high of $93,265.
Ethereum, which was once the subject of crazy FUD, also followed Bitcoin and achieved 7 consecutive daily increases, from the bottom of $2,400 to nearly $3,400, and the highest to $3,387. The market value of Ethereum rose to about $400.07 billion, surpassing Procter & Gamble and ranking 32nd in the global asset market value. After SOL broke through $212, its market value once exceeded $100 billion.
In terms of altcoins, there has been a massive surge, with significant increases in Meme, AI, public chain, and ecological projects. According to coinglass data, $650 million was liquidated across the entire network in the last 24 hours, with long positions liquidated at $278 million and short positions at $371 million.
A few days ago, Michael Saylor stated that MicroStrategy has increased its holdings by approximately $2.03 billion with 27,200 BTC, at an average cost of $74,463. As of November 10, MicroStrategy holds a total of 279,420 Bitcoins, worth $11.9 billion, with an average cost of approximately $42,692 per Bitcoin.
As of November 10, MicroStrategy's Bitcoin holdings have seen an astonishing unrealized gain of $13 billion.
dForce founder Yang Mindao marveled, 'The money MicroStrategy has made in the past six months is more than all the crypto VCs have made in the past five years, and this is just Michael Saylor's operation.'
According to data disclosed by Trader T, global Bitcoin ETF holdings have exceeded 1.2 million BTC, accounting for 5.7% of the total supply.
On another front, more and more countries, like Bhutan, Argentina, and El Salvador, are taking bold measures to adopt Bitcoin as a reserve currency and investing national resources into mining. Many countries are researching their own Bitcoin strategies and have proposed frameworks to support digital asset innovation. In the U.S., there is an increasing bipartisan call to establish strategic Bitcoin reserves.
Saylor remarked in an interview, 'The world will be reshaped; finance is undergoing a digital transformation. While Saylor and many others still focus on Bitcoin, the world he refers to includes many significant changes that collaborate with the traditional financial system.'
However, amidst the noise, we must recognize one thing: we are at a critical juncture. Cryptocurrencies are rapidly entering a stage of large-scale deployment and are about to reach a critical mass that will impact the global financial system. The cryptocurrency industry is maturing, driving the financial digital transformation that has been brewing for over a decade into the mainstream. However, the process of reshaping the financial system is extremely complex, which is why this transformation has taken so long to 'warm up.'
In short, all of this illustrates two points: first, to drive the outdated financial system into the 21st century, numerous factors need to work in synergy; second, the speed of future changes will only accelerate.
Fortunately, what drives this integration and innovation is not just technology but also strong cultural and macro trends such as demographic shifts, institutional adoption, currency devaluation, and global competition—this also explains why the decline of the traditional financial system has almost become a foregone conclusion.
As a Web3 entrepreneur, the cryptocurrency experience of the past few years has been both exhilarating and confusing. In re-evaluating the current financial environment and trying to understand why the financial landscape has seemed so chaotic in recent years, I have been exploring the underlying logic hidden behind it. For those concerned with and invested in the crypto space, these years have been filled with a confusing regulatory environment, contradictory statements from the media, and skepticism from traditional institutions—not to mention the enormous volatility of emerging digital assets.
For cryptocurrencies, this means that the past decade has been spent largely under the scrutiny of TradFi institutions. Especially during the Biden administration's past four years, the U.S. crypto market has been in a highly hostile regulatory environment, implementing strategies such as 'Operation Choke Point 2.0' to try to curb the adoption and liquidity of cryptocurrencies. Of course, our country's stance is also very clear; in 2021, it completely banned the holding and mining of cryptocurrencies.
But cryptocurrencies continue to prove their value proposition. Despite the various measures taken by traditional institutions, emerging technologies continue to develop and expand unaffected. The core believers leading the crypto movement are continually increasing their investments, testing new use cases, and driving the expansion of important functions.
Millennial retail investors are more digitally native, skeptical of traditional institutions, and have already embraced these emerging financial technologies. They have a higher risk tolerance and view speculative assets from a perspective different from previous generations.
Banks and asset management companies are integrating blockchain and crypto-native solutions to remain competitive. Stablecoins are almost entirely denominated in U.S. dollars, completing $8.5 trillion in transaction volume in the second quarter of 2024, more than double Visa's $3.9 trillion during the same period. Companies like Microsoft and Tesla are also testing their Bitcoin strategies.
At the government level, countries and companies are realizing the global nature of crypto and the enormous economic potential of leading in this transformation. Although cryptocurrencies were banned a few years ago, the news now suggests that our country seems ready to lift the ban. BRICS countries are formulating plans to utilize digital currencies. Dubai has just announced that it will accept cryptocurrencies for real estate investments, and many countries, including the U.S., are advancing crypto-friendly policies. Sovereign Bitcoin mining is also becoming increasingly popular.
These macro trends are driving TradFi institutions to continuously adjust their strategic allocations and future investments, resulting in an increasing number of strong cases and the emergence of exciting new enterprises. In addition to the obvious Bitcoin and Ethereum ETFs, there are examples like the Texas Stock Exchange, which is expected to launch in 2026, aiming to compete directly with the NYSE and Nasdaq.
We will see wealth transfer from the baby boomer generation to the millennial generation, witnessing trillions of existing assets being migrated on-chain. More global monetary supply will flow into top cryptocurrencies as people try to escape the fiat currency system that undermines their economic power. It is foreseeable that the crypto industry will gradually expand, ultimately integrating the entire economy and financial sector.
As the famous venture capitalist and writer Chris Dixon said, 'What smart people do on weekends, others will do on weekdays a decade later.' Those who choose to take action now—whether developers, investors, or entrepreneurs—will be able to seize the initiative in this new paradigm and may even shape emerging systems at the founding level.
Crypto integration is not just an economic trend—it is a multilateral movement for change aimed at reforming and reshaping global financial mechanisms. By decisively adapting to this change and embracing integration rather than resisting it, we will all benefit from one of the most significant opportunities of this era. The next 12 months will be a crazy time. For those who focus their efforts, 2025 could become a pivotal year that changes lives.
