The unit price of Bitcoin exceeded US$18,000, which was an increase of nearly 360% compared to the low of US$5,000 in the “3·12 Black Swan”, so that most people felt ” unreal “. Nearly three years after its peak at the end of 2017, Bitcoin has recently entered the public eye again and again. The important change is that mainstream financial institutions are reexamining this strong ” alternative asset “.
Finishing: Annoying
“Fidelity: People have these most common misunderstandings about Bitcoin, let’s respond one by one”
The price of Bitcoin is too volatile, Bitcoin is used for illegal activities, Bitcoin is a waste of resources… Please tell ordinary people who don’t know Bitcoin, these are all misunderstandings of Bitcoin. Fidelity Digital Asset Research Director Ria Bhutoria believes that Bitcoin is a unique digital asset, and an increasingly digital world needs to dig deeper than the surface to understand its core attributes and trade-offs.
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“Fidelity’s Bitcoin investment report, take you to understand the reasons behind the mainstream financial institutions’ increase in Bitcoin”
News of PayPal’s support for digital asset transactions and Singapore’s DBS Bank’s preparations for a digital asset transaction platform came out in the same month. The interest of mainstream financial institutions in Bitcoin is clear. In an environment where stock valuations of listed companies are high, bond yields are low, and wealth is shifting to millennials, people’s interest in alternative investment solutions is increasing day by day. In late October, the Fidelity Digital Assets Division of the traditional asset management giant Fidelity Group released the “Bitcoin Investment Theory: The Role of Bitcoin as an Alternative Investment” report, which summarized the reasons for funding Bitcoin in detail. The report has attracted a lot of attention in the traditional investment market. Linkwent selected and translated most of the content of the report for readers.
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“The famous investment fund Paradigm preached Bitcoin to enlightened doubters”
Paradigm, co-founded by ByteDance angel investor Huang Gongyu and Coinbase co-founder Fred Ehrsam, is currently one of the most active cryptocurrency investment institutions. In their daily work, they must face those investors who are interested in Bitcoin but skeptical, especially institutional investors from traditional investment institutions and family offices, and they often need to invest in these huge assets. People explain the value of Bitcoin. In the end, Huang Gongyu decided to write an article explaining clearly the value of Bitcoin in his eyes and answering the most concerned questions of these investors. If you are an open-minded Bitcoin skeptic, you may wish to start with this article to get a good understanding of the value of Bitcoin as a new currency asset.
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“7 Bitcoin Classics Institutional Investors Must-Read”
Seven classic discourses on understanding Bitcoin from the perspective of economics and finance: Bitcoin wallet company Xapo founder Wences Casares, famous hedge fund manager Paul Tudor Jones, well-known venture capital a16z co-founder Marc Andreessen and other bigwigs shared their opinions on Bitcoin The unique cognition of the currency.
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“Bitcoin Prequel: This is how hacker and cypherpunk culture was born”
Deeply combed and analyzed the sub-cultural trend of hackers resisting traditional companies full of oppressive and moral dispute management and employment methods that appeared before the birth of Bitcoin. Only by understanding these contents can we truly understand the sociological significance of the huge impact brought by Bitcoin and other cryptocurrencies. This article is an excerpt from the report “What is the Essence of the Cryptocurrency Phenomenon” written by Iterative Capital.
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“Bitcoin Becomes the Flag of Technology”
Balaji S. Srinivasan, former CTO of Coinbase and former general partner of a16z, believes that Bitcoin represents a clear encoding of the values previously implied by the technology community. It implies decentralization, extreme deflation, networking, digitalization and other technical values. It is not only a software, it is a Schelling point, a symbol. Therefore, in the 1920s, it will become a recognized technology banner.
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“Understanding Bitcoin White Paper: The Farthest Way, Perhaps the Fastest Way”
Ten years later, the Bitcoin system seems to have not changed its core design as Satoshi Nakamoto had hoped. This also means that today, ten years later, the Bitcoin white paper is still the most important document when we understand Bitcoin and even the blockchain.
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“Meet the era of negative interest rates, re-examine the investment value of hard currency Bitcoin”
Everyone is talking about negative interest rates. Yes, we are not far from the world of negative interest rates. As an asset class that has never appeared, Bitcoin not only has the need to hedge against inflation, but some investors also regard it as an emerging value-preserving asset to hedge against the downside risks of traditional global finance.
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“The world is releasing water, Bitcoin is a weapon against the continued imbalance of credit expansion”
Bitcoin is not yet a safe haven, but the strongest anti-fragile competitor in an imbalanced financial system. The simplicity that Bitcoin represents-it is nothing but a personal freedom, the freedom to convert real world values into a form of currency that cannot be manipulated. The promise of Bitcoin is a more stable currency system. But it does not promise what the price will be on any given day; the only guarantee it provides is that the supply will not be controlled or systematically injected by a central bank (or anyone).
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“The application and value of Bitcoin in the context of global water release”
Since the 2008 financial crisis, central banks have injected unprecedented new funds into the global financial system. And this has directly led to a huge difference in wealth distribution. This unbalanced wealth distribution has now gradually evolved into severe systemic risks. When the global economy is in turmoil and countries have over-issued currency overdrafts, Bitcoin has emerged as an almost “perfect” stored value and safe-haven asset.
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Extended reading｜Bitcoin ecology has been building
Although Bitcoin is not the most active cryptocurrency in the development ecosystem, Bitcoin has always made new progress in privacy protection, off-chain expansion, and even cross-chain to Ethereum DeFi. The following three articles are for advanced readers with more hard cores .
“Bitcoin is also evolving! Understand the main plans and development potential of Bitcoin privacy protection”
Dandelion, Schnorr, and Taproot starting from the underlying network, as well as the Liquid and Lightning network explored on the second-layer network, are the main forces in building Bitcoin’s privacy protection function.
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“How to expand Bitcoin? Understand the progress of expansion technology and investment status under the Bitcoin chain “
In the field of expansion under the Bitcoin chain, investments in Lightning Network infrastructure and user services have always increased significantly, while the narratives of side chains such as Liquid and RSK developed by Blockstream have mostly turned to interoperability.
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“How to Introduce Bitcoin to Ethereum in a Decentralized Way: Understanding the Cross-Chain Solution of tBTC Assets and Vulnerability Remediation”
How does tBTC perform cross-chain Bitcoin assets safely and decentrally? How are vulnerabilities fixed after the mainnet goes live?
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