In the past ten years, BTC has experienced countless storms, and has remained strong under the blow of countless bad news. It has reached its current price step by step. Such a high-value BTC, if you simply say that it is a bubble, it is not very appropriate. But I don't think that BTC will continue to increase in price in the future, because it means that there will be countless people who will buy BTC in the future. Although I, like many people who oppose BTC, still insist on my own views, I have to admit that BTC is indeed unique. Whether BTC is a scam or a decentralized currency system in the future, let's analyze some of the value of BTC.
BTC can get to where it is today, with almost half of the market value of the cryptocurrency market, inseparable from the support of capital giants and countless fans swarming in. Whether it is a capital magnate or a fan, supporting BTC is nothing more than two reasons: belief and interest. Beliefs are difficult to change, and it is difficult for people who believe that BTC has technological value to listen to different opinions. But people who are concerned about BTC because of their interests are much more sensible, and they only pursue interests. When BTC cannot bring them enough benefits, they may give up BTC without hesitation.
Although there are many voices that support BTC, the value of BTC is a hype, but it does not change the fact that BTC itself cannot create value. However, BTC itself cannot create value, and it does not delay someone who can use BTC to make money, and they can also make a lot of money. Whether it is BTC miners mining or service institutions that provide BTC transactions, they are all direct beneficiaries of BTC's price increase. Of course, there are countless people who speculate about BTC. In the process of BTC's price increase, as long as they follow the main force, they can also make a lot of money.
Many people benefit from BTC's price increase. Benefits are the basis for supporting BTC.
There is no need to explain the benefits of BTC miners. As long as one BTC is mined, it can be sold on some service platforms. Of course, BTC can also be directly traded offline, but due to the relatively small number of BTC users, offline transactions are actually inconvenient. Including some units that support BTC payments, in fact, the hype is more meaningful than the actual meaning, and the main BTC transactions are still online. So why do some financial institutions also support BTC, don't some of them know what BTC is?
On May 14, the well-known BTC trading platform COINBASE released its Q1 financial report for 2021. As can be seen in the first financial report after the listing, the total revenue in the first quarter was US$1.801 billion, of which net income was US$1.597 billion. Net income mainly comes from information service fees and transaction service fees, of which transaction fees reached 1.54 billion U.S. dollars, accounting for 96% of total revenue. Huge intermediary fees will bring huge benefits to these financial institutions and service platforms. This is one of the reasons why some financial institutions provide technical support and cashing services for cryptocurrencies such as BTC. What these financial institutions support is not BTC, but the benefits that BTC brings to them.
BTC and capital giants actually have a mutually beneficial relationship. No matter what price BTC is hyped up, it is difficult to get rid of the control of capital. Decentralization is just a pseudo-proposition of cryptocurrency, and it is unlikely that BTC will never depreciate unless the world is truly unified in the future.
