OKLink Industry Observation: Bitcoin’s market value exceeds one trillion US dollars. What new actions are these institutions taking?

February 16th is the fifth day of the Lunar New Year, and folks call this day “Bao Wu”.
Under the mysterious eastern power, Bitcoin successfully broke through five on the same day broke through the 50,000 U.S. dollar mark , and continued to climb. In the early morning of February 20, it reached a record high of 56,600 U.S. dollars, and its total market value exceeded 1 trillion U.S. dollars — -To achieve this goal, Apple spent 42 years, Google spent 21 years, and Bitcoin only used 12 years.

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(Source: Twitter )

This round of quotations around the Spring Festival was still detonated by the “institutional fever”. The fuse this time was Tesla’s announcement of the purchase of $1.5 billion in Bitcoin.
On February 8, “Earth is famous for calling a single player” Maskra played the first set of the year before, and the price of Bitcoin soared by US$8,000 for two consecutive days, pushing the institutional craze to a new climax. Since then, many new institutions have accelerated their entry, and some old faces in the Bitcoin market have also played some new operations.
Today, let’s take an inventory together. Bitcoin’s market value has exceeded one trillion US dollars. What new actions have institutions taken?

Tesla’s 1.5 billion U.S. dollar pulls, Musk calls global orders

The veteran single-man Musk is becoming a “global ambassador for Bitcoin.”

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Beijing time on the evening of February 8, 3 days before New Year’s Eve, USASECDisclosed Tesi Tension 2020 Annual Report (10-K file). The documents show that Tesla has spent a total of US$1.5 billion to purchase Bitcoin and may acquire crypto assets from time to time for a long time. Tesla will also support the acceptance of Bitcoin in a limited way.
After the company bought Bitcoin, Musk became a “stakeholder” and he spoke more frequently about Bitcoin on Twitter, and praised that “Bitcoin is a form of liquidity that is not as stupid as cash.”
Under the influence of Musk’s “Internationalization Call”, the British ” Financial Times” published an article “Bitcoin Will Be the Mainstream?” on the cover of the weekend edition on February 13th. Why Musker and America’s oldest bank supports this encryption currency “further embrace Bitcoin.

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On February 20th , riding on the east wind of Bitcoin’s skyrocketing, he called the single-man Musk to change his Twitter avatar to a Bitcoin comic character, and tweeted “I just want to ignite your heart”, and he was officially crowned as “Bitcoin.” “Bin Global No. 1 calls single person”.

Micro-strategy pressures another US$1.03 billion, and the listed company becomes the “first village”

Since the second half of last year, MicroStrategy has purchased Bitcoin 5 times and currently holds 71,079 Bitcoins, ranking first among listed companies in the world.
Its founder, Michael Saylor, is an avid supporter of Bitcoin, and also the “Nasdaq No. 1 Expert” before Musk. In December of last year, Musk asked Michael Saylor about the possibility of converting the “large transactions” of Tesla’s balance sheet into Bitcoin and being “smoothly MLM.”

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On 19 May, MicroStrategy and then once threw deep water bombs , announced that the company has passed convertible bonds to raise $ 1.05 billion , after deducting the initial purchasers discounts, commissions after issuance costs and MicroStrategy expects payable, net of the sale of bonds is about 1.03 billion US dollars, all used for the company’s Bitcoin asset allocation .

North America’s first Bitcoin ETF was approved for listing, expanding the market for crypto asset compliance

On February 12, Purpose Investments launched North America’s first Bitcoin exchange- traded fund (BTCC) Obtained the approval of the Canadian financial regulatory agency. On February 18th, the fund began trading on the Toronto Stock Exchange and was sold in Canadian and US dollars. The trading volume on the first day reached 200 million Canadian dollars (about 155 million US dollars), breaking the Canadian record.

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On February 16, Canadian fund management company Ev olve Funds Group Inc announced that its Bitcoin ETF has also been approved by the Ontario Securities Commission ( OSC ).
The North American market finally got two Bitcoin ETFs. In addition, the global asset management giant New York Digital Investment Group (NYDIG) also submitted a Bitcoin ETF application to the US SEC, and the development of the crypto asset compliance market is speeding up.

Visa and MasterCard work together to build crypto asset infrastructure

On February 11, payment giant Mastercard revealed that it plans to provide merchants with crypto asset payment options this year, which will enable Mastercard customers’ crypto asset payments to be settled in the merchants participating in the transaction in an crypto manner. This will be the company This function is realized for the first time. The company has not disclosed which crypto assets it intends to support, and where to support it.
On February 19, Visa, a friend of MasterCard, was not far behind and announced that it has reached cooperation with 35 crypto self-produced platforms or crypto wallets around the world , including licensed and regulated crypto asset platforms such as Wirex and BlockFi.

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Along with MasterCard, Visa and other payment giant crypto owned industrial business and traditional business integration phase , the growth potential of the crypto assets to Bitcoin as the representative received enhanced.

Listed companies accelerate their holdings of Bitcoin, and institutions are hotly upgraded

Under the driving effect of listed companies such as Tesla and Micro Strategy, some traditional listed companies have begun to turn to Bitcoin at the business level and asset reserve level.
On February 13, according to SEC disclosure documents, the US listed company Immersion Technology (code: IMMR) stated that it may choose to buy Bitcoin and other crypto assets in the future.
On February 17, Urban Tea, the parent company of Mingyuntang, a Chinese tea brand listed on NASDAQ, announced that it would launch a key strategic expansion in blockchain and crypto asset mining.

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Urban Tea was founded in 2011 and is headquartered in Hunan, China. It owns the tea brand Mingyuntang. Its current market value is approximately US$45 million. The company revealed that it will gradually expand its business to the entire blockchain ecosystem, including crypto asset mining, blockchain mine construction, and crypto asset trading operations.
As the price of Bitcoin continues to break through, capital power may attract more listed companies and institutions to join the Bitcoin market, and the overall scale of the crypto asset market will continue to achieve breakthroughs.

Double blessing by retail institutions and rapid growth of the crypto asset market

The crypto asset market is a big chessboard, and institutions have already begun to deploy.
Starting from the second half of 2020, as “liquid mining” detonates the crypto asset industry, DeFi tracks are expanding rapidly, and the crypto asset industry as a whole ushered in a rising period. At this time,Grayscale, Micro Strategy, Square and other companies have begun to buy Bitcoin.

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(Source: OKLink )

Up to now, according to OKLink data, more than 24 listed companies around the world have accumulated 149,744.29 Bitcoins, accounting for 0.804% of the total circulation. More than 40 companies and institutions directly hold Bitcoin, and the total holdings account for about 6.27% of the total Bitcoin circulation.
As institutional investors continue to enter the market, the infrastructure of the crypto asset industry has progressed, the integration of traditional finance and crypto assets has accelerated, and the price of Bitcoin continues to break new highs. Capital gains most visually stimulating global retail investors into the market into an unprecedented optimism. With the dual support of retail investors and institutions, the crypto asset market represented by Bitcoin may enter a period of rapid growth .
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