#夏日创作营

CZ is bullish on the next year because he believes BTC will definitely rise. But I think what he’s really bullish on isn’t the price. It’s the trend. In recent months, the SEC has kept easing regulation, ETF products have become increasingly diverse, and institutions have been steadily buying BTC; more and more traditional financial institutions are starting to move into blockchain.
Institutions are gradually opening the door to enter the crypto market. In the past, many institutions wanted to buy but couldn’t. Now more and more institutions want to buy and can. That’s the real change.
Crypto asset penetration is still under 1%. What he’s trying to convey is that this market has only just begun to be accepted by mainstream capital. The largest incremental growth in the future may not be retail investors, but banks, funds, pension money, insurance capital, and an increasing number of listed companies.
So I’ve always believed that what truly drives the next round of the market cycle may not be FOMO, but rather more and more traditional capital treating crypto assets as a normal allocation. And when an asset starts getting allocated by institutions, the story often is just beginning.