2025 Bitcoin Dynamic Observation: Policies and Technologies Advance Together, Industry Faces New Challenges and Opportunities

Regulatory and Supervisory Developments

New Trends in the U.S.: The U.S. government announced it is considering including Bitcoin in its national strategic reserves and will host the first Crypto Asset Summit at the White House, aimed at strengthening the U.S. as a global digital currency center. This policy is seen as deepening Bitcoin's position in mainstream finance.

Local Policy Innovations: Rhode Island plans to pass a bill allowing residents to conduct monthly Bitcoin transactions below $10,000 tax-free, providing policy support for the application of digital currency in daily life.

Technological Developments and Industry Ecosystem

Central Bank Digital Currency (CBDC) Impact: Wang Yongli, former deputy governor of the People's Bank of China, pointed out that sovereign digital currencies may gradually replace the stablecoin market. Central banks around the world are drawing on stablecoin technology to optimize the architecture of digital currencies, which may have a long-term impact on Bitcoin's regulatory framework.

Mining Machine Industry Chain Active: The total network computing power continues to grow (reaching 814 EH/s in 2025, an increase of 177% compared to 2022), with mining companies like Canaan Creative reporting a recovery in the industry, showing stable demand for high-performance mining machines, and the entire industry chain is exhibiting a prosperous trend.

Market and Security Challenges

ETF Fund Flow Slows: Although the U.S. Bitcoin spot ETF attracted nearly $100 billion after approval in 2024, the influx of funds significantly slowed at the beginning of 2025, and market focus gradually shifted to the implementation of long-term policy effects.

Security Threats Rise: In the first quarter of 2025, over 60 hacking incidents occurred globally, with losses as high as $1.63 billion, highlighting the necessity for the industry to strengthen security measures and regulatory cooperation amidst rapid development.