The significance of BTC's current bull run reaching 120,000 USD.

What are the changes that have initiated this bull run?
The focus of the bull run is only one.
But behind each round of BTC bull run, there are unique historical significances.

🟧2009-2011 bull run: born and proven to serve both as an asset and as a currency.
🟧2011-2013 bull run: In March 2013, the Cyprus financial crisis broke out, leading to bank runs. People saw an excellent alternative during the significant devaluation of fiat currency, a new hope: BTC.
🟧2015-2017 bull run: Global retail investor recognition significantly increased. 2019-2021 bull run: Global financial institution recognition significantly increased.
🟧The ongoing bull run from 2023 to 2025: BTC is being legalized, formalized, and securitized in different countries. The general public, lacking any professional knowledge and unwilling to research exchanges and cold wallets, will start to truly engage with cryptocurrency by purchasing BTC spot ETFs launched by securities firms in the US, Hong Kong, Europe, and others.

Future scenarios include: a 22-year-old blonde beauty from Ohio, who just graduated from university, comes to New York to work. During her time at university, she saved up some money and walks into a brokerage firm to open an account, intending to use this money to trade stocks. However, the account manager suggests that she also open a BTC account and shows her the net increase history of the past decade.
The girl was shocked at first; with increases of thousands, hundreds, and dozens of times over the years, she compared it to the history of the US stock market's rise. Although she had never heard of BTC, she told the account manager that compared to this, isn't the US stock market garbage? The account manager smiled and said there are stock markets in the world that are far more garbage than the US stock market, which has barely moved 3000 points in ten years. Thus, under the account manager's advice, the girl invested in both the US stock market and Bitcoin.