jakiro
Let me correct it first: What I want to express in yesterday’s article is that the situation of the crypto ecosystem (rather than Bitcoin) cycle every four years may be broken due to the influx of entrepreneurs and the outbreak of the ecosystem.The current situation of Bitcoin’s cycle every four years shows no signs of being broken.
The most eye-catching news about the crypto ecosystem in the past two days is that Yunfeng Finance, which is closely related to Jack Ma, has purchased Ethereum as the company’s strategic reserve.
According to online information, Jack Ma personally holds Yunfeng Finance11%In addition, Jack Ma holds Yunfeng Finance through Yunfeng Fund47.25%Shares.
Judging from the relevant data, Jack Ma has a lot of say in Yunfeng Finance.Therefore, many articles on the Internet interpret this action as Jack Ma’s strategic deployment of Ethereum.
When I first saw this information, I immediately thought of it: Since it is a strategic reserve, why didn’t I buy some Bitcoin?Then, I remembered Jack Ma’s point of view in a public speech (the general idea is): Bitcoin has no value, but blockchain technology is valuable.
In the public announcement released by Yunfeng Finance, there is a passage:
“WillETHIncluded in the company’s strategic reserve assets in accordance with the Group’sWeb3Layouts in frontier fields and canFor real-world assets (RWA) Tokenization activities provide critical infrastructure support.”
“To achieve a comprehensive and organic integration of finance and technology for customers,Effectively strengthen customer service experience and financial sovereignty.”
Based on Jack Ma’s previous views and the announcement released by Yunfeng, we understand why the company buys Ethereum instead of Bitcoin, and the reason is clearer:
The company considers the layout of technical facilities more than the financial investment.
forRWAIf the services provide infrastructure support, it means it is best to operate the Ethereum nodes yourself and strive for block packaging; “strengthening customer service experience and financial sovereignty” also means you need to operate the Ethereum nodes yourself and strive for block packaging.
In addition to Yunfeng Finance, in Jack Ma’s business territory, Ant has become more active in the crypto ecosystem in recent years.Ant announced a while ago that the company is developing a second-layer expansion based on Ethereum, preparing to deploy it.RWAEcology.
Now Yunfeng Finance’s actions are just in line with Ants.
I rememberedTom LeeHe once said that he believed that banks would buy Ethereum in large quantities in the future because banks need to operate their own Ethereum nodes in order to carry out their own business.
Yunfeng Finance’s current behavior has been verifiedTom LeeThe prophecy of the past.
From the perspective of liquidity, Yunfeng bought Ethereum from the perspective of infrastructure construction. Such operations will not be easily sold due to price fluctuations. Therefore, such buying will firmly lock in Ethereum’s liquidity.
According to Yunfeng Finance (HK 0376)2024At the end of the year, the total investment it holds is probably789HKD 100 million.The total amount of Ethereum purchased this time is approximately3.4Hong Kong dollars (440010,000 US dollars), it is a very small number in its entire investment territory, accounting for a proportion of0.5%Neither.
So this investment is very eye-catching for Volkswagen, but it is basically just a slight test for the company.
What’s more interesting is the price it bought for Ethereum.
According to information, the company invests a total of4400Buyed $10,0001Ten thousand Ethereum, then the average price is4400About US dollars.
Recalling this round of other companies that have entered the market to buy Ethereum, they (for exampleSharpLink,BMNRThe initial purchase price of3000Dollar~ 4000US dollars, and continue to buy in the future.
So overall, the price range for companies entering this round of entry to buy Ethereum is probably3500Dollar~ 4400Between US dollars.
This price range will create a psychological hint for subsequent buyers in the future.
Bitcoin’s pricing power has completely shifted from retail investors to institutions, and this trend is now repeating itself in Ethereum.
In the future, when more and more institutions and funds enter to buy Ethereum, I believe3500Dollar~ 4400This psychological suggestive price of the US dollar will become their reference price.
The market is booming now. When this bull market is over and the next bull market starts again, I estimate that the price of Ethereum will fall again.3500It may be difficult to get below the US dollar.
