Once upon a time, Bitcoin was neglected. In 2013, its price was less than $13 per coin, and almost no one cared about it; by 2015, when the price climbed to about $300 per coin, the market was full of doubts about the "Ponzi scheme"; in 2021, when Bitcoin hit a high of $60,000 per coin, it was immediately completely banned, and all parties were wary of the recurrence of the "tulip" bubble. On June 25, 2025, the price of Bitcoin has reached $108,000 per coin, and market participation policies have also begun to loosen, and ordinary investors are expected to gradually gain opportunities to participate.
Since the introduction of the stablecoin bill, the cryptocurrency market landscape has been accelerating. Many companies are vying to apply for virtual asset trading licenses in Hong Kong, and the industry's popularity continues to rise. On June 25, Guotai Junan successfully obtained a Hong Kong virtual asset trading license, realizing an important transformation from a traditional securities intermediary to an exchange identity. This breakthrough means that customers can directly conduct cryptocurrency transactions on the Guotai Junan International platform. The news has aroused strong market attention once it was announced. For practitioners and investors who have been dormant in the currency circle for many years, this is undoubtedly a major benefit, and the situation of "hiding" in the past is expected to end. Those billionaires in the currency circle who once went to Abu Dhabi and other overseas regions to develop also have the possibility of returning to China to invest in industry construction. The cryptocurrency industry seems to be ushering in a new spring of development, and it also heralds that the global financial monetary system may face profound changes.
Digital asset legislation will bring two key impacts:
On the one hand, the promotion and popularization of stablecoins will greatly change the global flow of funds. Stablecoins, represented by USDT, are pegged to the US dollar. In actual operation, the fiat currency received is often used to purchase US Treasury bonds, which can alleviate the US debt pressure to a certain extent, which is more beneficial than harmful to the United States. The circulation of stablecoins makes the exchange between fiat currency and virtual assets more convenient, and the restrictions on cross-border flow of funds are expected to be further broken.
On the other hand, when countries launch stablecoins pegged to their own fiat currencies, the risk of currency devaluation will be significantly increased. From an operational point of view, it is difficult to guarantee that the issuance of each stablecoin can be supported by sufficient corresponding fiat currency reserves. The large influx of stablecoins into the market is essentially no different from the disguised issuance of currencies by various countries. In this context, cryptocurrencies represented by Bitcoin, which are closely related to stablecoins, may receive more attention and asset allocation from global investors. At the same time, the rapid devaluation of currencies will also drive up the price of gold significantly, which may far exceed people's current expectations. In essence, it is not that the value of gold itself has increased, but that the purchasing power of global fiat currencies continues to decline.$BTC #币安Alpha上新
