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As the first application of blockchain, Bitcoin (BTC), after years of development, has surpassed a market value of trillions of dollars, ranking among the top eight global assets. Unlike previous bull markets, the current Bitcoin bull market is driven by institutional investors and high-net-worth individuals.
Against the backdrop of global low-interest rates, institutions are seeking to achieve excess returns through cryptocurrency investments. BTC shares many similarities with gold in terms of inelastic supply, divisibility, and portability. In recent years, both have been inclined towards developing store of value functions. The low correlation and high returns of BTC with traditional assets will further promote its adoption by financial institutions in the future.
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