News:
At the moment Elon Musk hit the enter key, the 'butterfly' of the cryptocurrency world flapped its wings again—this time, is he going to send Bitcoin to Mars?
1. Musk's words set the cryptocurrency world ablaze.
On July 7, when asked on the X platform whether the U.S. party would embrace Bitcoin, Musk dropped a line: 'Fiat currency has no hope, so yes,' directly igniting the market. Bitcoin soared past $110,000, rising over 0.7% within 24 hours, institutional ETF funds poured in crazily, and retail chat groups were filled with shouts of 'Musk has taken us flying again.'
Zhuque's view: Musk's recent maneuver is essentially 'using traffic to endorse policies.' The U.S. has just classified Bitcoin as a reserve asset, with giants like BlackRock and Grayscale raking in over $4 billion in ETF funds. Musk's endorsement at this time is akin to giving Bitcoin's 'legalization' a 'celebrity filter'—policies need confidence, and Musk needs topics; it's a perfect match.
2. Institutional 'shopping spree': Bitcoin becomes the new benchmark for 'digital gold.'
The current trend in the cryptocurrency world is: Bitcoin feasts while altcoins sip broth.
MicroStrategy holds 597,000 BTC, worth $63 billion, equivalent to buying half of Silicon Valley;
BlackRock's ETF scale has surpassed $75 billion, controlling half of the market share;
Even traditional financial giants can't sit still—on its first trading day, the first Solana ETF in the U.S. saw $8 million in transactions, but the SOL price remained unchanged, indicating that institutions only recognize 'certain assets.'
Personal view: The 'institutionalization' of Bitcoin is reshaping the rules of the cryptocurrency world. Previously, retail investors chased highs and lows, now institutions are voting with real money. Why? Because Bitcoin has 'three axes':
3. Altcoins 'collectively silent': Is decentralization just a slogan, or a real demand?
In stark contrast to the Bitcoin frenzy, mainstream altcoins like Ethereum and Solana are collectively 'lying flat':
Ethereum has fallen below $2,600, and Solana below $150;
Bitcoin's market capitalization share has reached 64.6%, hitting a nearly three-year high, while the overall market capitalization of altcoins has only grown by 3%.
Personal view: The plight of altcoins is fundamentally that the story of 'decentralization' is no longer believed. Vitalik Buterin warned: 'If decentralization remains merely a slogan, Ethereum may become the 'tear of the era.' Why? Because institutions seek 'certainty,' while the technical bottlenecks and regulatory risks of altcoins have made them synonymous with 'high risk and low return.'
4. Musk's 'Mars plan': Is Bitcoin to become 'interstellar currency'?
Zhuque's view: This statement is essentially Musk painting a big picture for Bitcoin. Using cryptocurrency for a Martian colony? It sounds like science fiction, but Musk needs this story to maintain the heat in the cryptocurrency world—after all, Tesla's market value needs new stories, SpaceX's Mars plan needs funding, and the concept of Bitcoin as 'interstellar currency' just happens to attract global geeks and speculators.
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