PANews, May 13 - According to a chart released today by Matrixport, the security of the Bitcoin network is increasingly strengthened, mainly due to the rise in hash rate and corporate accumulation of Bitcoin. As competition among miners intensifies, the Bitcoin hash rate continues to rise, with annual capital expenditure expected to reach $10 to $12 billion. This competition not only strengthens network security but also promotes diversification. Historical data shows that increases in mining capital expenditure are usually associated with rising Bitcoin prices.
On the other hand, corporate buyers like MicroStrategy are acquiring and holding Bitcoin, effectively reducing the circulating supply. This dynamic suggests that Bitcoin prices may need to rise until the hash rate peaks, a situation that has not yet occurred. Overall, these factors indicate that the Bitcoin network is continually expanding, and demand is also increasing, both of which ultimately support the rise in Bitcoin prices.
