The blood bar of God has appeared! 100,000 bitcoins have stepped onto the stage to challenge gold

The great river flows eastward, washing away all, and the past is gone; the figures of the wind and flow still look to Bitcoin! Bitcoin stands tall at the $100,000 milestone, living up to the expectations!

From being worthless at the beginning, to 2010 when 10,000 Bitcoins were exchanged for two pizzas; to 2011, when early participants cheered as Bitcoin was about to break $10; to 2017, when it first broke $10,000, causing a global sensation, and then to 2024, when the Bitcoin spot ETF was approved and entered the U.S. stock market… This "internet bubble," once ridiculed, has now become the "digital gold" that Wall Street financial giants like BlackRock and Fidelity are eager to chase. Every transformation of Bitcoin is astonishing, rewriting people's understanding of currency, value, and wealth.

This round of Bitcoin reaching $100,000 should first thank three "contributors." Although they act out of self-interest, it is better to walk alongside the noble than to watch coldly from the sidelines.

From $16,000 to $30,000, we must thank Grayscale, which has consistently absorbed Bitcoin like a mythical beast and achieved a crucial victory in its lawsuit against the SEC.

From $30,000 to $60,000, we must thank the ETFs, especially BlackRock and Fidelity, as these traditional institutions brought their users and hot money from the U.S. stock market into Bitcoin.

From $60,000 to $100,000, we must thank MicroStrategy. In fact, it is very difficult to break through key integer points, especially under the invisible pressure of various technical indicators. However, MicroStrategy's faith and determination allowed them to use cash from bond issuance and stock sales to directly eliminate the pressure, pushing Bitcoin into a vacuum zone.

Why can only Bitcoin repeatedly rise after falling, moving forward through doubts and suppression, crossing milestones?

The narrative charm of Bitcoin lies in its simplicity; it does not require technical delivery and cannot be falsified, like a perfect closed loop. Every crisis reinforces rather than weakens its value proposition.

In 2009, it was born from the ruins of the financial crisis, with the mission to combat inflation and the banking system;

During the pandemic in 2020, unlimited quantitative easing and money printing by various countries made Bitcoin's scarcity narrative shine even brighter;

In 2022, during the Russia-Ukraine war, Bitcoin became a weapon in the invisible financial war, illustrating what a super-sovereign currency is and once again validating the importance of decentralized assets;

In 2024, with the Federal Reserve cutting interest rates and geopolitical turmoil intensifying, Bitcoin perfectly played the role of a safe-haven asset.

From the early "digital gold" to the later "super-sovereign asset," and then to the "cornerstone of Web3," every narrative of Bitcoin has been reinforced in reality.

In the crypto world, we have seen too many grand visions and complex technical solutions, but the one that has withstood the test of time is precisely the simplest Bitcoin. It does not require marketing, does not need a roadmap, and does not need promises of technological upgrades. Its value proposition is as simple and undeniable as the law of gravity: a decentralized, scarce, and immutable value network.

This is why it can only be Bitcoin. Because in a world full of uncertainties, the most precious thing is certainty. What Bitcoin provides is just such certainty: a definite supply, definite issuance rules, and a definite operating mechanism.

Is Bitcoin a competitor to gold?

Federal Reserve Chairman Powell said that Bitcoin is not a competitor to the dollar; it is actually a competitor to gold. The once frail intern in the corner can finally step into the arena surrounded by spotlight and cheers to challenge the once unattainable opponent.

Bitcoin's market cap is $2 trillion, while the global gold market cap is $18 trillion; the two have a tonnage gap but not an insurmountable strength difference.

Ten years ago (December 2014), gold was 250 yuan per gram; ten years later, it is 630 yuan per gram, a 2.5 times increase over ten years.

Ten years ago (December 2014), Bitcoin was $360 per coin; ten years later, it is $100,000 per coin, a 277 times increase over ten years.

Bitcoin is still over 7 times away from gold's market cap of over $15 trillion; perhaps for many in the crypto asset circle, this may not seem like a very difficult thing for Bitcoin, which has grown 277 times in ten years, because we have already seen the bloodline of the gods, and the rest is just a matter of time.

Most of the time, gold serves as a hedge against inflation risk in many people's portfolios, which can also be seen as a manifestation of a safe-haven asset. However, the fact is that gold has not outperformed inflation for most of the time. But Bitcoin, which consistently breaks new highs, has a fixed supply chain limit, and undergoes halving every four years, seems to have never disappointed anyone in this regard.

Due to widespread consensus, gold has very low volatility, while Bitcoin is the opposite. Therefore, Bitcoin carries higher growth potential but also bears higher risks. However, Bitcoin's volatility is gradually decreasing, and it is truly becoming a viable "hedging tool" for high-inflation countries.

Next, we need to look at Trump's "boost." Whether it is announcing the establishment of a strategic Bitcoin reserve or nominating a crypto-friendly SEC chairman, Trump's election seems to usher in the most favorable regulatory environment for the crypto industry in history, thus opening up Bitcoin's recent upward channel. However, in the medium to long term, the real driving force pushing the crypto industry forward is clearly not Bitcoin's price, but whether Trump can fulfill those verbal commitments to crypto and start providing more space for the crypto market from a legislative level.

With the right timing, location, and people, Bitcoin waves its fists to break through the mundane and pressure, roaring challenges at the dominance of traditional finance; it has become stronger and more respectable.