Source: Brokerage China
Original title: Bitcoin breaks $30,000
Crazy! 1 yuan becomes 12 million in 10 years! Bitcoin broke $30,000 and its market value surpassed TSMC to catch up with Ali! More institutions estimate that the currency price can reach 400,000 US dollars…
On the evening of January 2, the price of Bitcoin exceeded $30,000, meaning that each Bitcoin exceeded RMB 200,000 for the first time.
According to the calculation of the global asset market value rankings, the market value of Bitcoin has surpassed TSMC, ranking ninth in the world with a market value of US$570 billion, slightly inferior to the eighth-ranked Alibaba. Hong Shuning, a blockchain expert who once worked at the People’s Bank of China, said on January 2 that it took less than a month to reach a new level, breaking through US$30,000, which fully demonstrated the strong confidence in the market and the complete loss of resistance to short funds. The future is limitless.
Bitcoin has also benefited many stock investors. As the price of Bitcoin continues to rise, the share price of Bitcoin mining company Bit Digital, which is listed on the US stocks, has risen 53 times in the past year. Some analysts on Wall Street even believe that the price of Bitcoin may reach $400,000, but the skyrocketing trend may be suspended in early 2021. Although the price of Bitcoin is still quite bullish in the medium term, the current round of Bitcoin prices is likely to be It peaked in early January 2021.
One Bitcoin is equivalent to RMB 207,000
Since Bitcoin broke through $20,000, the price of Bitcoin has repeatedly hit new highs. Throughout 2020, the price of Bitcoin has increased by a full three times. In the first two trading days of 2021, the price of Bitcoin has continued to increase by leaps and bounds. , Broke through 30,000 US dollars on the evening of January 2, and the price of each bitcoin reached 31,726 US dollars, equivalent to about 207,100 yuan.
If the long time line is drawn, the price of Bitcoin corresponding to the first time in 2010 after the birth in 2009 is calculated from about 0.0025 US dollars. As of the publication on January 2, 2021, the price of Bitcoin has increased by more than a record 1,200 in 10 years. Ten thousand times. In other words, when you invested 1 yuan at the beginning, you could buy 61.3 bitcoins, which has now appreciated by more than 12 million yuan.
The current market value of Bitcoin has reached 3.85 trillion yuan (US$590 billion). This is a staggering number. It means that the market value of Bitcoin can be outspoken in the A-share market. Looking at the global asset market value ranking, Bitcoin The market value of the currency has risen to the 9th place as of 22:00 on January 2, 2021, surpassing TSMC. The market value of TSMC is now at 565.4 billion U.S. dollars. Alibaba’s current market value is 629.6 billion U.S. dollars, ranking 8th, which is Bitcoin The market value is already slightly lower than that of Alibaba.
Bitcoin’s price performance fully demonstrates the “core assets” emphasized in stock value investment, and it has already been transplanted to the cryptocurrency market by institutional investors. Just like many small-market penny stocks in the A-share, Hong Kong, and U.S. stock markets, no one cares about making money. Although Bitcoin has continued to rise, more than 90% of the digital currencies in the cryptocurrency market lack funding attention, and institutional funding continues The “core asset” of popular, focused and popular Bitcoin has led to the market value of Bitcoin accounting for 71% of the total market value of global cryptocurrencies.
On January 2nd, Hong Shuning, a blockchain expert who worked at the People’s Bank of China, stated on Weibo that the first phase of the bull market started in February 2019 and was suppressed by the sell-off of PlusToken for a long time. It will be again in early 2020. After the start, it was severely affected by the epidemic, marking the end of the 312 plummet. The characteristics of this stage are twists and turns.
The second phase started in March 2020, all the way to the daily limit, and successfully reached a new high and exceeded $20,000 by the end of the year, confirming the official arrival of the bull market, but the future is still unclear.
The hallmark of the third stage is that it took less than a month to reach the next level, breaking through $30,000, fully demonstrating the strong confidence of the market, and the bears have completely lost resistance. The future is limitless. This stage will end with a rapid bubble, and it will also announce the end of this bull market. After the market pulls back for a period of time to accumulate enough energy, the next bull market will be launched.
Daisy, a senior analyst at Huobi Research Institute, said: At the beginning of 2021, Bitcoin is still creating a record high. At present, it is still the initial stage of starting the halving market. The supply factor for the long-term halving of output is getting stronger and stronger. From quantitative to qualitative change, the pace of institutional admission is orderly. With the outbreak of the epidemic, the logic of the weakening of the dollar still exists. In addition, the SEC in the United States has recently begun to strengthen supervision, and it has launched a strong blow to Ripple. Ripple is facing a large-scale delisting. Ripple investors may transfer problematic assets to high-quality assets. Therefore, Bitcoin has gained greater demand, which is also Bitcoin. One of the reasons why prices are still being pushed up. The strengthening of supervision this time reflects the significance of decentralization and has a very positive impact on Bitcoin.
U.S. stock companies skyrocketed 53 times a year on Bitcoin
Bitcoin’s bull market has also led to a strong rise in related stocks.
Brokerage China reporters noticed that Bit Digital’s (NASDAQ: BTBT) share price has risen 53 times in the past 12 months. Bit Digital is a NASDAQ-listed company focused on Bitcoin mining. It has become one of the biggest winners in the U.S. stock market in 2020, corresponding to a 53-fold increase in stock prices. Over the same period, the S&P 500 and the Nasdaq have only increased 15.5 this year. % And 43.4%.
Just 5 days ago, Bit Digital disclosed its financial report for the first three quarters of 2020. The financial report showed that as of September 30, 2020, the company was operating 22,869 mining machines, of which 16,964 were added in the third quarter, and the cumulative output of bitcoin was 814.23, of which 739.51 were newly added in the third quarter.
The company achieved revenue of $8.6 million in the first three quarters, of which $7910,000 in the third quarter. Due to the continuous enhancement of operating capabilities and the allocation of fixed expenses such as personnel management, the company achieved a profit of $100,239 in the third quarter, regardless of the discontinued business. In the case of overall consideration, the company still completed the balance of payments in the third quarter.
As of press date, due to the signing and fulfillment of more mining machine acquisition agreements and the overall favorable environment, the company’s subsequent computing power and profitability will be greatly improved.
In addition, Marathon Patent Group, an intellectual property and patent holding company listed on the U.S. stock market, has also seen consecutive stock price increases recently, making its annual stock price increase 10 times. In order to further stimulate the stock price, Marathon Patent Group announced on December 28, 2020 that it would buy 70,000 S-19 Antmines equipped with ASIC chips from the Chinese mining machine manufacturer Bitmain at a sky-high price of 170 million US dollars. The company expects that the order will be delivered before the end of next year, when its total number of mining machines will exceed 100,000.
However, Bitcoin’s short-term gains are too great, and the boost of follow-up funds makes it possible for Bitcoin to pull back in the short-term. Some Wall Street analysts believe that Bitcoin’s skyrocketing trend may be suspended in early 2021, and there will be opportunities to buy on dips. Given that Bitcoin has just hit a record high, it is still quite bullish in the medium term. In the short term, the cycle The composite index shows that Bitcoin will peak in early January.
Regarding the long-term price of Bitcoin, more and more funds believe that the constant characteristics of Bitcoin make it impossible to be continuously supplied. This is similar to gold. Even considering that gold resources are still being discovered, the total of 21 million Quantity means that the price of Bitcoin will become scarcer.
Scott Minerd, chief investment officer of Wall Street giant Guggenheim Partners, said his company’s fundamental analysis shows that Bitcoin should be worth $400,000. According to Minerd, the price target is based on two points, namely the scarcity of the asset and its relative value relative to gold. Earlier news, the US$5 billion Guggenheim Macro Opportunity Fund applied to the US SEC to invest in Grayscale Bitcoin Trust, or allocate US$530 million in Bitcoin.
