Previously, only retail investors and whales purchased it. After the whales bought it, they would place it on the exchange to manipulate the market and reap the profits from the retail investors.
Now that the old money from Wall Street is coming in, they are buying things in a rush, but after buying they cannot trade them at will, resulting in a decreasing number of circulating bitcoins, which is less than 1.8 million.
Next, the national teams of other countries will take the field. At this time, the competition is not about price but pricing power.
It's like you have the only two stamps in the world, one of which can be sold for 1 million. If you burn one now, the remaining one may be worth 10 million.
There is an interesting phenomenon.
Society's evaluation of Bitcoin is deeply divided, with two extremes emerging: believers say it is digital gold, while skeptics view it as a ghost.
On the one hand, this rift is due to the fact that Bitcoin, as an emerging asset, is always associated with the "dark web" and "black industry", and people's understanding of it is insufficient, which easily leads to prejudice; on the other hand, it is also because Bitcoin has natural financial attributes and there are many people with interests involved.
Bitcoin has the following advantages:
1. Strong liquidity. In the era of digital currency, Bitcoin has the strongest liquidity.
2. Anti-censorship. Gold is easy to be checked, what if it is confiscated from you?
3. Anonymity: If you don’t want anyone to know that the Bitcoin is yours, you can hide it for a lifetime.
4. Easy to carry. When traveling with valuables, is it easier to carry gold or Bitcoin?
5. It cannot be counterfeited. There are fake gold, fake banknotes, fake jewelry and antiques, but Bitcoin cannot be counterfeited.
6. Scarcity. The total amount of Bitcoin is limited and will always be limited, but you never know when a new gold mine will be discovered.
7. Divisibility. You can spend Bitcoin one satoshi at a time, but you can’t spend gold one gram at a time.
I don’t know whether the price of Bitcoin can reach 1 million in the future, but at least the prospect is definitely promising.
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