Wu Jihan: The Matrixport analysis report is not planned for widespread dissemination, and short-term fluctuations will not affect the ETF results and BTC's position
ChainCatcher news, Wu Jihan stated on social media that Matrixport's analysts are independent and can express their opinions without any influence or interference from management. Analysts are hired for their exceptional analytical abilities compared to his personal views and other management teams. However, Wu Jihan, like other investors, simply skimmed through the report (the content includes that the Bitcoin spot ETF will not be approved, authored by Markus). Wu Jihan stated that Markus is a talented analyst. At the beginning of 2023, Matrixport was one of the few companies that accurately predicted Bitcoin's low point and maintained an extremely bullish stance. This latest report was prepared for Matrixport's clients, and its widespread dissemination in the media was not part of Matrixport's original plan and is beyond its control.As far as he knows, Matrixport has consistently advised its clients to be aware of risks and leverage, especially considering the market volatility triggered by expectations surrounding the ETF. Looking at Bitcoin's history and future prospects, the current volatility and the uncertainty of a potential approval for the Bitcoin ETF in January 2024 ultimately do not matter. In the long run, Bitcoin will always dominate. From his personal perspective, the approval of a spot ETF by the SEC is inevitable, which will attract new investment funds into Bitcoin. Bitcoin is expected to solidify its position as a store of value and a risk-hedging asset, similar to gold.Earlier, ChainCatcher reported that Matrixport released a report yesterday stating that the SEC is expected to reject all Bitcoin spot ETF applications in January due to all applications failing to meet key requirements. Currently, the SEC voting committee, led by Democrats, is unlikely to approve a Bitcoin spot ETF, as this would legitimize Bitcoin as an alternative store of value. If the SEC denies approval, there will be large-scale liquidation activities in the market, and the price of Bitcoin could quickly drop by 20%. Nevertheless, Matrix on Target still expects that even if the SEC vetoes the ETF, the price of Bitcoin will be above $42,000 by the end of 2024. (The market generally believes that this report led to a rapid decline in Bitcoin last night.)