Bitcoin's New High Sparks Debate: A 2019 Incident of a Hangzhou Woman Buying Bitcoin and Being Sent to the Hospital Resurfaces, Who is More Rational?
After Trump was elected President of the United States, Bitcoin has continuously refreshed its historical high, approaching $90,000, and the crypto community believes the bull market has arrived. At this time, a five-year-old news article has once again sparked heated discussions in the community.
A screenshot of an article shows "A Hangzhou Woman Bought Bitcoin and Was Sent to a Mental Hospital by Her Husband," published on November 14, 2019. The content describes that on the eve of Singles' Day, a woman in Hangzhou spent over 3 million RMB to buy about 60 Bitcoins. When her husband saw the bank account emptied, he sent her to a psychiatric hospital. The attending physician stated that she had severe compulsive buying disorder, and the patient was receiving treatment. However, Toutiao is a Chinese social media platform that recommends content based on algorithms, with mixed sources of information, and the article is old, making it difficult to determine its authenticity.
This article was also widely circulated in the crypto community in 2021, when the Bitcoin bull market peaked at $69,000, and people believed the woman's husband should have been the one sent to the hospital. In this round of the bull market, Bitcoin reached a peak of $89,940. According to calculations, if the woman had held onto her investment, the 60 Bitcoins could be sold for about 39 million RMB at the highest price. Based on the highest price of $9,505 just before the incident, the cost of 60 Bitcoins was about 3.99 million RMB, yielding a net profit of about 35 million RMB, with an increase of 875%.
Although many people ridicule the woman's husband for not understanding the value of Bitcoin, very few people can hold 60 Bitcoins for 5 years. In the short term, Bitcoin plummeted to between $6,000 - $7,000 in December 2019, so perhaps the woman's husband was more rational.
