Abstract : In his opinion, as a digital asset, bitcoin has been highly financialized.
December 30 (ChainDD) According to the report by 21st century economic, Jianing Yu, the rotating chairman of the Blockchain Committee of the China Communications Industry Association and the president of Huobi University, said that Bitcoin's circulating market cap had reached $500 billion. However, it was still far away from the gold market value worldwide of $10 trillion. Therefore, bitcoin had not yet reached a real milestone.
In his opinion, as a digital asset, bitcoin has been highly financialized. So it probably cannot get rid of the "cyclical" financial law, that is, "if there is a rise, there will be a fall, and if there is a fall, there will be a rise".
Jianing Yu also said that in the period of economic fluctuations, the digital currency and cryptocurrency tended to receive more attention. The rising price of bitcoin is the dividend of the global digitalization cycle.