June 16, 2026

Yesterday, a super rare incident happened. The rooftop was packed with people. Spain faced off against Cape Verde, and they ultimately drew 0:0. In the market, more than 99% of people believed Spain would win. Anyone with 98% believed they would win by a bigger margin. In the end, that championship hot favorite—an entire squad with a total price tag exceeding 1 billion euros—all of their shots were blocked outside the goal by Cape Verde’s goalkeeper, who is over 40 years old. After the match, the goalkeeper cried. I think it was a cry driven by both excitement and the pressure from being “hit” too hard—but in any case, this kind of sportsmanship is truly moving. It’s also worth noting that Cape Verde is a small island nation with a population of 540,000. They made it to the World Cup, and managed to snatch a point from Spain—shocking the world.
Another point worth mentioning is that Elon Musk’s SpaceX stock price has surged. The IPO price was $135. On the first day, it opened at $160 and closed at $192 last night. The after-hours session was even more intense, surging directly to above $210. The current total market capitalization has already been approaching 3 trillion. This market cap is definitely the scale of a true giant. Although Nvidia’s market cap is 5 trillion, the revenue difference between the two companies is more than tenfold. SpaceX’s surge is naturally because the market is giving Musk’s space program a future valuation. Another reason is that in the early stage, the circulating float is limited; before the official unlocking, it’s possible to squeeze in the other direction.
Capital markets are basically similar. Aside from the value theory that you can hold spot assets long term, in the short and medium term, trading and maneuvering matter more. Even for cryptocurrencies that don’t have clear value support, long term also can’t do without operating…