Recently, the cryptocurrency market has experienced a sharp correction, especially altcoins, affected by Google launching the latest quantum chip Willow, triggering discussions in the crypto community about the impact of quantum computing on the 51% attack on the Bitcoin network.
Bitcoin has fallen from around 100,000 dollars, once approaching the 94,000 dollar mark, with altcoins generally falling around 20%, becoming the largest decline in the recent market.
Currently, holding around 100,000 dollars worth, the soul-searching question comes: Is 100,000 dollars for BTC expensive?
Retail investors think it is expensive, so they won't buy at this price level, but look at how institutions and large capital are doing.
The latest public information shows that the cryptocurrency mining chip design company Nano Labs announced that it has invested in Bitcoin through the licensed virtual asset trading platform Hashkey in Hong Kong. As of December 10, the company holds about 55.6 Bitcoins, worth about 5.5 million dollars, with an average price of about 99,400 dollars per Bitcoin (including transaction fees).
In addition, Nano Labs also disclosed that institutional investors such as FENBUSHI US, Longling Capital, and Golden Forest have signed share subscription agreements with it, with specific amounts not yet disclosed. Nano Labs will continue to closely monitor the development of the Bitcoin market and adjust its investment scale and strategy as appropriate based on market conditions.
On-chain data shows that Nasdaq-listed Bitcoin mining company Riot Platforms bought 705 BTC (68.45 million dollars) on December 11, with an average price of 97,090 dollars.
On December 9, Riot announced plans to privately issue 500 million dollars in convertible senior notes, mainly for Bitcoin acquisition and general corporate purposes.
Recently, the price of 100,000 dollars to buy Bitcoin is far more than just one or two places. Moreover, the president's son is 'promoting' Bitcoin.
American businessman, executive vice president of the Trump Group, and son of elected President Donald Trump, Eric Trump, gave a speech at the Bitcoin MENA event in Abu Dhabi, praising Bitcoin as a 'financial paradigm' and a global asset.
And predict that one day the price of Bitcoin will reach 1 million dollars. Eric Trump also predicts that more governments will accept Bitcoin in the coming years and emphasizes that early adopters will be among the winners.
I wrote a similar article in October when BTC was around 70,000 dollars ('Is 70,000 dollars for Bitcoin expensive?'), and the same question arises again.
Now I tell you, this period and the price of 100,000 dollars for the coin are very dangerous, because you are very likely to get off at this price point or hesitate to get on.
So this logic is very important, I emphasize it once again.
Looking ahead, it is almost at the historical peak, indeed expensive, but looking back, some big shots predict this for next year.
There are several predictions for the price of Bitcoin in 2025.
1. Standard Chartered executive: Bitcoin may reach 200,000 dollars by the end of 2025.
2. Bernstein: The 'conservative' prediction is that the price of Bitcoin will reach 200,000 dollars by the end of 2025.
3. The analysis account Bitcoindata21 predicts that the price of Bitcoin will reach 250,000 dollars by 2025.
4. Wharton Business Review's Lan Xiaohua: Bitcoin may break through 300,000 dollars by 2025.
Looking back through history, because you have seen cheaper prices, you feel that the current Bitcoin price is expensive. If you look in the other direction, you will find the exact opposite.
Expensive is a comparative notion. In the past, when Bitcoin was several hundred, several thousand, or several tens of thousands, why didn't you buy?
It's also because at that time you thought the coin price was expensive! Only by comparing with the current coin price do you feel that the price at that time was cheap.
Next year, if one Bitcoin reaches 200,000 or 300,000 dollars, looking back at the current coin price, is it still considered expensive?
Expensive, more due to a lack of understanding, and not enough knowledge. Many people outside still think 1 BTC is the smallest unit.
If you don't even know that Bitcoin can be divided, your understanding of Bitcoin is limited to having heard the three Chinese characters for Bitcoin + reports from the People's Daily, so when you hear 70,000 dollars or 100,000 dollars, you exclaim, 'It's too expensive!'
Where exactly is the upper limit of Bitcoin's value?
In fact, this is asking where the upper limit of the value of freedom lies? A big shot calculated that in 20 years, one Bitcoin will be worth 160 million RMB, and Trump's son said BTC will reach 1 million dollars.
Never let these numbers make you jump to the conclusion of 'SB', without a doubt, those who mention these numbers are at heights we will never reach in our lifetime.
At 10 dollars a gold, do you think it is expensive? Most high-ranking officials have not yet entered the market, so how can it be considered expensive?
Ask a few friends around you if they have BTC. No need to doubt, we are still in the early stages.
If you entered the market before national government agencies, traditional companies, and the public entered in large numbers, you have outperformed most people. Don't you think this is a pretty amazing thing?
