Bitcoin to 120,000 by the end of the year? Is Trump's support for crypto because he is scared?

Oh, now the discussion about Bitcoin has shifted to whether it can reach 120,000 by the end of the year? Yuanfang, what do you think?

Today, Bitcoin hit a new high, briefly surpassing $106,569, marking the longest seven-week consecutive rise since 2021. This surge was mainly boosted by the remarks of the U.S. president-elect Trump regarding the establishment of a Bitcoin strategic reserve.

Last week, Trump was asked in an interview with CNBC whether he plans to create a cryptocurrency reserve similar to the strategic oil reserve, to which he responded: "Yes, I think so."

Looking back, Trump has repeatedly expressed support for the development of cryptocurrencies during his previous campaign. He has announced multiple times that he would strive to make the U.S. the "cryptocurrency capital of the world." In a recent interview, he stated: "We will do great things in the cryptocurrency space; other countries are embracing it, but we want to be the leaders."

A series of personnel appointments by Trump further confirms his determination to develop cryptocurrencies. He nominated cryptocurrency supporter Paul Atkins as the chairman of the U.S. Securities and Exchange Commission (SEC) and appointed former PayPal COO David Sacks as the White House's first director of artificial intelligence and cryptocurrency affairs. These moves send a clear signal of policy shift to the market, directly boosting investor confidence.

Why is Trump so "stubborn" in supporting cryptocurrencies? Because he has been scared.

According to Trump's son Eric Trump, after the Capitol riots in 2021, several major banks cut off business ties with the Trump family, which made them realize the importance of decentralized finance. Eric stated at the Bitcoin Middle East and North Africa Conference held in the UAE on the 15th that once his father takes office, his administration will be the most cryptocurrency-friendly government in U.S. history. He promised that the U.S. would play a leading role in the "digital revolution," echoing what Trump said during his campaign. Eric told the audience: "You will welcome the most pro-cryptocurrency president in U.S. history."

This is the basic starting point for the national level or large holders, but how can the middle class or ordinary people accept Bitcoin?

The CEO of MicroStrategy, the largest publicly traded Bitcoin holder, Saylor, once said, "Bitcoin is like Prometheus giving us fire; Satoshi Nakamoto gave us a game we can all win." There are some things you don't want to do on a network that can censor what you say and freeze your accounts. Bitcoin is a monetary network that does not censor the money you send or freeze your accounts. Its design ensures that, marginally, over time, you are winning this game.

Just like holding Bitcoin is safe, while your deposits in local banks may face risks. If you need to leave a country or escape a crisis, you can retain the wealth held in Bitcoin, while land, buildings, local currency, or bank deposits may be lost. Therefore, Bitcoin actually represents the most powerful and greatest city in cyberspace, which will become the center of the digital economy in the future.

Rome became precious due to word-of-mouth as a center of wealth, and the lands of Manhattan and New York were once just small ports and gathering places for criminals that went unnoticed in the times of our ancestors. However, those who persist and take action yearn to own this land, at least while it is still on the rise.

Bitcoin may just be one of the choices in life. Buying a house, collecting antiques, or investing in the stock market are all options; Bitcoin is like another form of savings with space, benefiting you in a few years.

No one has lost money by buying Bitcoin, and no one has made money by shorting Bitcoin. So, if you are only looking for returns in four months, four weeks, or four days, you may feel anxious. If you can hold on for 10 years, you will become a legend.