Bitcoin breaks through the $40,000 mark, and the industry holds an optimistic view on the 2024 outlook.

The price of Bitcoin recently broke through the $40,000 mark, sparking heated discussions in the industry about a new bull market. Many industry executives view this as the beginning of a bull market, and some even predict that Bitcoin could reach a historic high of $100,000 in 2024.

As of December 2023, the increase in Bitcoin this year has exceeded 120%. The market generally holds an optimistic attitude towards whether this upward trend can continue into 2024. The CEO of a certain company stated in an interview that 2023 has laid the foundation for a bull market, and people are equally looking forward to 2024 and 2025.

Looking back over the past two years, the cryptocurrency industry has faced a series of setbacks, including the collapse of cryptocurrencies, project failures, and legal disputes. However, with the resolution of several major cases, some long-standing issues that have plagued the crypto market seem to have been addressed.

Industry insiders believe that as the speculation craze fades, true innovators can focus on technological development and solving real problems, rather than just maintaining a huge digital casino.

Currently, investors' attention has turned to the positive developments in the industry. First, the Bitcoin exchange-traded fund ( ETF ) may soon be approved, which is expected to attract more traditional investors into the cryptocurrency market. Second, the Bitcoin halving event is expected to take place in May 2024, which is typically seen as a catalyst for price increases.

There are some bold predictions regarding Bitcoin's performance in 2024. A certain bank reiterated its previous expectation that Bitcoin will reach $100,000 by the end of 2024. The bank believes that this surge will be driven by the approval of multiple ETFs.

However, some analysts remind investors to be aware of the risks. They pointed out that the current rebound is largely based on the expectation of ETF approval, and if regulators reject the product again, it could have a serious impact on Bitcoin.

Overall, as the industry gradually shakes off the shadows of the past, Bitcoin and the entire cryptocurrency market seem to be welcoming new development opportunities. However, investors still need to be cautious and closely monitor regulatory trends and market changes.

Thoughts on Bitcoin: From Ancient Currency to Digital Future

Throughout human history, the evolution of currency has witnessed our relentless pursuit of efficiency, trust, and value. From the ancient Yap stones to modern Bitcoin, each iteration of currency has carried the wisdom of our predecessors while also paving the way for new possibilities in the future.

The giant stone currency of Yap Island, although massive and difficult to move, carries immense value. This phenomenon reflects humanity's ability to assign value to essentially worthless items. Bitcoin resonates with this concept in the digital world, relying on the digital consensus of participants to determine its value.

Cattle as a form of currency represent a value carrier with intrinsic utility. Although Bitcoin has no physical form, its mathematical scarcity and the reliability of its underlying technology give it a similar intrinsic value.

During the war, cigarettes became the currency circulating among prisoners of war, demonstrating the adaptability of currency. Bitcoin has the same characteristic; it can be infinitely subdivided, transferred quickly across borders, and adapts to various economic needs.

The birth of the Euro tells the story of currency standardization and unification. Bitcoin, on the other hand, achieves a similar unifying effect globally through its borderless characteristics, creating a universal financial language.

Bitcoin is not only a new form of currency or a technological innovation, but it also redefines the essence of money from a philosophical perspective. It challenges us to rethink the foundations of trust, the meaning of value, and the mechanisms of exchange. Bitcoin not only facilitates transactions but also reshapes the concept of trading, showcasing the potential of future currency as a catalyst for a global interconnected network.

In the context of the evolution of currency, Bitcoin represents a qualitative leap. It not only reflects the collective process of human understanding of value but also serves as a microcosm of humanity's continuous innovation and deep interconnection. From Yap stones to Bitcoin, what we see is not just the history of currency, but a vivid portrayal of the ongoing evolution, innovation, and interconnection of human society.

El Salvador Bitcoin investment is now profitable

In response to the numerous reports and comments regarding El Salvador's losses in Bitcoin investments, the situation has now reversed. At the current market price of Bitcoin, if we choose to sell the Bitcoin we hold, we can not only recover the full investment but also gain an additional profit of 3.62 million dollars.

However, we have no intention of selling these Bitcoins, as that has never been our goal. We fully recognize that future prices will continue to fluctuate, but this does not affect our long-term strategy.

It is important that those who previously made critical remarks and the media should retract their statements. A responsible approach would be for them to issue a statement acknowledging their mistake and apologizing, or at least acknowledging the fact that El Salvador is now making a profit, just as they were eager to report our losses before.

If they consider themselves true journalists, they should report this new reality with the same vigor as they do when reporting our losses.

We are looking forward to it.

El Salvador Exploration Trip: An Emerging Country

Last week, I flew from New York to El Salvador for an inspection. This trip left a deep impression on me and allowed me to see a country full of opportunities and vitality.

First of all, if I were an investor looking for international investment opportunities, I would not hesitate to set up an office in El Salvador and actively seek investment opportunities. Whether it's starting new businesses or supporting existing ones, there is immense potential here. Several industries, such as tourism, hospitality, and real estate, are showing rapid development.

I stayed in San Salvador and Bitcoin Beach for a week. From the modern and efficient airport to the warm and friendly people, and the new constructions and infrastructure renovations everywhere, I was deeply impressed. The people here are friendly, hardworking, proud, entrepreneurial, and family-oriented.

El Salvador seems to be working hard to become the Singapore of Latin America: business-friendly, growth-focused, and tough on crime. Based on what I have seen and heard, this goal is achievable, and they are making progress.

In terms of safety, I feel very secure and relaxed in El Salvador, even safer than in the best areas of New York City. Police and private security are visible everywhere, and they are professional, polite, and alert. In conversations with locals, I learned that measures to combat gangs have greatly improved the business environment.

Regarding Bitcoin, I realize that it has brought unexpected value to El Salvador. It not only boosts tourism but also promotes broader education, covering areas such as computer science, technology, finance, and personal development. Young people are learning about Bitcoin-related knowledge, which will create opportunities for their future employment and entrepreneurship.

Overall, El Salvador left me with an image of a rising nation. It is undergoing a national transformation, showcasing the human spirit of perseverance and victory through difficult history. I encourage more people, especially professionals in the financial sector, to personally experience the changes in this country. El Salvador not only offers a unique story of economic development but also boasts authentic cuisine, coffee, surfing, and natural scenery.

Bitcoin: The Potential Guardian of Western Civilization

I have been thinking about a point recently: Bitcoin may be a key factor in the continuation of Western civilization.

History shows that countries with reserve currency status often tend to inflate their money supply and increase deficit spending until they lose that advantage. Many have discussed this trend in the United States. While the Renminbi and Euro are currently not viable alternative options, people seem to overlook the existence of cryptocurrency as another choice.

In the face of inflation, people may start to transfer fiat currency into cryptocurrency. Contrary to some people's concerns, I believe this will not pose a threat to the dollar and the United States; rather, it may become a natural balance and supplement to the dollar, benefiting the long-term interests of the United States and broader Western civilization. Shifting from the dollar to cryptocurrency is preferable to moving to fiat currencies of other countries or regions.

I foresee that fiat currencies and cryptocurrencies will coexist in the long term; they are more complementary than substitutive. USD-supported stablecoins will play an important role in unifying these two areas.

This topic needs further thought and discussion. Everyone is welcome to share more views.

El Salvador's Bitcoin Experiment: Exploring a New Economic Model

El Salvador's adoption of Bitcoin as legal tender showcases a unique economic model. Here, 1 BTC is always equal to 1 BTC, reflecting the true essence of a Bitcoin economy. While profits calculated in USD remain important, this significance may gradually diminish as the economy becomes more Bitcoinized.

Some people refer to Bitcoin as an experiment, but it is worth noting that the Euro was only launched a little over 20 years ago, and the dollar, which is not backed by gold, has only a history of about 50 years. Modern major fiat currencies are all relatively new concepts. Only time will tell which currency system is truly enduring.

El experimento de Bitcoin en El Salvador no solo se trata de moneda, sino que también involucra un desarrollo educativo y tecnológico más amplio. Los jóvenes están aprendiendo sobre Bitcoin, lo que podría brindarles oportunidades de empleo y emprendimiento en el futuro. A largo plazo, esta práctica podría traer beneficios al país de diversas maneras.

Despite differing opinions on El Salvador's approach, it undoubtedly provides us with a unique window to observe new economic models. Over time, we will be better able to assess the impact and significance of this practice.