🎥2. Market Background

Bitcoin Ascends as the World's Seventh Largest Asset

Since its inception, Bitcoin has not only revolutionized the financial landscape but has also spearheaded the rapid expansion of the global cryptocurrency market. According to data from CoinMarketCap, as of 2024, the total market capitalization of cryptocurrencies has surged beyond $2 trillion, encompassing over 5,000 distinct digital assets. This remarkable growth highlights not only the increasing interest and confidence of investors in digital currencies but also underscores the broader financial market's recognition and acceptance of this transformative asset class.

The rise of Bitcoin is emblematic of the broader evolution of financial technology (FinTech). The swift advancement of FinTech has been a key driver in the widespread adoption and integration of digital currencies into mainstream finance. At the core of this revolution is blockchain technology, the foundational infrastructure that powers digital currencies. Blockchain has found applications across a diverse array of industries, from cross-border payments and smart contracts to supply chain management and beyond. As the global financial system continues to embrace blockchain, forecasts suggest that the market's revenue could reach billions of dollars by 2025.

A pivotal milestone in this journey was Bitcoin's historic fourth halving, an event that propelled it past silver to become the world's eighth-largest asset by value. However, Bitcoin's ascension didn’t stop there. Today, it has claimed its place as the seventh-largest asset in the world, solidifying its role as a dominant force in the realm of digital finance. Bitcoin's growing influence on the global stage is now an undeniable reality.

In the political arena, the significance of Bitcoin and cryptocurrencies has even reached the highest levels of power. In a bold move, former President Trump made his "Cryptocurrency Presidential Proclamation," while his chief rival, Joe Biden, announced his withdrawal from the 2024 U.S. presidential race. Trump declared, "I will end Joe Biden's war on cryptocurrency, and we will ensure the future of #crypto and #Bitcoin is created in America." This marks the beginning of a new era for cryptocurrency, with significant implications for its future development and regulation.

Global Recognition: Bitcoin's impact is truly global, with acknowledgment from 119 countries. Current estimates project that by 2025, approximately 10% of global GDP could be stored on blockchain platforms, further cementing Bitcoin's role in the world economy.

User Growth Surge: The popularity of Bitcoin and cryptocurrencies is reflected in the surging user base of major platforms. Binance, the world’s largest centralized exchange, now boasts over 100 million monthly active users, with its platform token prices consistently reaching new all-time highs. This growth is a testament to the increasing demand for digital assets and the robust ecosystem that supports them.

As Bitcoin continues to break new ground, its influence on the global financial system grows ever stronger, paving the way for a future where digital assets play a central role in the economy.