Buy a Bitcoin ticket and go see the world together.

Bitcoin’s car has started, and the ticket has exceeded the US$70,000 mark, setting a record high. At the same time, the market value exceeds that of silver and ranks first in the world. Assets No. 8. If Bitcoin rises to $150,000, its market value will even jump to the second largest asset in the world, second only to gold.

The Bitcoin car has started

According to data from Kaiko Research It shows that during Bitcoin’s record rally, approximately 1,500 new “million dollar wallets” were added daily. This year, the day with the largest number was March 1, with 1,691 new “million dollar wallets” added.

Since the launch of the U.S. Bitcoin ETF in January this year, demand has been extremely strong. Kaiko Research said that even so, the current daily increase of one million US dollars The number of wallets remains lower than during the previous bull run in 2021, when an average of more than 4,000 wallets crossed the million-dollar threshold every day.

From the address, we can also analyze that many individuals, companies, and even sovereign countries have joined this wave of Web3 and made a lot of money because of the "Bitcoin ticket".

For example, El Salvador President Nayib Bukele’s Bitcoin buying strategy has paid off handsomely.

El Salvador’s cryptocurrency vaults are currently making $85 million in profit, according to the Nayib Tracker website. Bitcoin prices hit an all-time high on March 11, exceeding $72,000. Dollar. El Salvador’s entire portfolio contains 2,861 BTC and is currently worth $207.3 million.

In addition, according to Arkham tracking results, Tesla's wallet currently holds approximately 11,509 Bitcoins, an increase of 1,789 Bitcoins from the 9,720 Bitcoins held in the last financial report. Tesla's current floating profit is US$455 million, and SpaceX's floating profit is US$132 million.

While funds from various sources are surging, many large institutions and sovereign countries are holding or even planning to expand their Bitcoin investment portfolios.

For example, BlackRock plans to add Bitcoin ETF exposure to its $36.5 billion Strategic Income Opportunities Fund; Merrill Lynch, a subsidiary of Bank of America Securities and Wells Fargo provide customers with Bitcoin ETF products; MicroStrategy, which holds 193,000 Bitcoins, plans to privately issue US$600 million in convertible senior notes after making a floating profit of US$7 billion, and use the net proceeds to purchase Bitcoins; El Salvador, who holds about 2,380 Bitcoins, still said he would not sell after a 50% profit.

The trading volume of South Korea’s local cryptocurrency on Sunday exceeded the local stock market trading volume on Friday. South Korea’s cryptocurrency exchanges recorded 11.8 trillion won (about $9 billion) in trading volume on Sunday, surpassing the 11.47 trillion won (about $8.7 billion) in the stock market on Friday.

Under strong market conditions,Bitcoin is attracting more funds to accelerate its inflow into the market, and the outside world has reached a bullish consensus on its market outlook.

Behind the surge in market value of the crypto market is the continued inflow of funds. Glassnode data shows that approximately $50 billion has flowed into the crypto market in the past 30 days, marking the highest inflow since October 2021. Among them, the capital volume of multiple Bitcoin investment products has also reached new highs in the near future.

For example, according to data released by Bloomberg analyst Eric Balchunas, the daily trading volume of the U.S. Bitcoin spot ETF exceeded $5.5 billion, the second highest in history.

Thrown off

But the market There are always people who are happy and people who are sad.

Grayscale before 2021 was unrivaled. Until January 10 this year, the good days came to an abrupt end.

SoSoValue statistics show that since January 11, GBTC has outflowed more than 10 billion U.S. dollars, andthe total net asset value has dropped to 27 billion U.S. dollars. It is the only product among the 10 spot Bitcoin ETFs with constant net outflows.

Facing pressure, on February 15, Grayscale email notification showed that 5 altcoin trust private placements have been opened to accredited investors Subscription.

In one sentence, the private placement of five cryptocurrency trusts, BCH, LINK, LTC, SOL, and XLM, is open for subscription by qualified investors. But currently, except for the Bitcoin Trust GBTC, other crypto trusts are still closed-end funds and cannot be redeemed in both directions in the market.

Coinglass statistics show that in less than a month after the opening of private placement subscriptions on February 15, these five crypto trusts held positions in all Grayscale funds. showed an obvious net inflow, but only SOL was out of stock - a net increase of more than 97,500 pieces, with a value of more than 13.5 million US dollars.

The sorrow of home is more than just grayscale.

On March 6, 2024, unlike the smooth sailing after breaking through the $20,000 mark in 2020, this time Bitcoin did not hit a new high, but instead Turning to a sharp drop - the flash drop was fierce and large, reaching a low of 59,000 USDT at 3:55 a.m. the next day, falling by more than 14.5% in 5 hours.

At the same time, Ethereum fell from a high of 3821 USDT to a low of 3179 USDT in the early morning, and the drop was as high as 16.8%. The altcoin market is also bleeding.

Coinglass data shows that the entire network has liquidated positions of more than 900 million US dollars, of which long positions liquidated US$753 million, accounting for over 83%, it is completely a one-way massacre targeting multiple armies, passively completing a wave of leverage clean-up for the "hot" market.

Written at the end

When the value of Bitcoin breaks In the sky, the barrier of 70,000 US dollars was easily broken through. Just like an explorer discovering a new continent, its market value has surpassed that of silver, shining brightly.

In the digital ocean, money is pouring in like a tide

Within thirty days, the flow of US$50 billion continued

Individuals, companies, and countries have entered the game >

From Tesla to El Salvador, BlackRock to banks

The light of Bitcoin illuminates the road to investment

However, this road is not smooth. In early spring, March , Bitcoin and Ethereum suddenly fell. The entire network was wiped out, causing countless losses. Huidu Zhou also felt a lot of pressure.

In more than ten years, Bitcoin tickets have become increasingly valuable

The journey is as endless as an epic

Let us cherish the present and buy tickets together to board the train

In this world, explore the unknown and enjoy the scenery of the journey.