Bitcoin’s global reserve currency in the bull market: today, bitcoin broke through 24000 again. Although it did not create a new price peak, it strengthened the development of the upward trend. For the follow-up market continued to break through laid a more solid foundation. Driven by the price, the activity on the bitcoin chain remained up, and the newly added sentiment was at a record high. Meanwhile, the market activity was greatly increased from 88 yesterday to 93, and the strength of short-term fluctuation was increased. With the continuous development of the market, even if the short-term may still face a large decline consolidation, but the market more clearly shows the upward momentum of development. The market development has established more effective asset reserve and profit effect for bitcoin, and promoted bitcoin to develop towards global reserve assets. With the crisis of global economy under the influence of multiple factors, the devaluation worries of French currencies such as the US dollar, especially the position of the global reserve currency of the US dollar has been shaken, which has brought many unstable factors to the traditional economy. Brendan Blumer, founder of EOS, tweeted: looking at the growth of US dollar circulation in the past 12 months and the trajectory of the next 12 months, it is easy to see that bitcoin’s growth in 2020 will not be large, and the continued entry of institutions and sovereign states into the cryptocurrency field will dwarf everything at present. Banks and institutions are hoarding cash and fiat money will be less valuable than ever as the economy as a whole is expected to recover from the effects of the new epidemic in 2021 and return to normalisation, while capital begins to be lent (using some of the reserves to borrow). Whether it is investment profits or risk aversion, capital needs a new export, and the US dollar also needs a new replacement. And bitcoin’s rising market has won bitcoin an opportunity to join the mainstream finance. BB believes that bitcoin may become the next global reserve currency! From the current institutions and increasing the purchasing speed of bitcoin, we can clearly feel that the traditional finance is entering bitcoin rapidly and hopes to occupy the early advantage, and has greater competitive advantage and strength in terms of price and quantity. As a new economic situation, bitcoin is not only the inevitable trend of the development of science and technology, but also the best solution to the current economic crisis. It has been recognized by institutions. From the perspective of the institutional nature of bitcoin investment at present, it includes wall street, which represents the top level of traditional finance, covers the mainstream of investment such as hedge funds, family financial offices and listed companies, including enterprises, banks and insurance, and individuals including millionaires, billionaires and celebrities. Bitcoin has begun to gain more comprehensive recognition. This is an important reason why bitcoin can penetrate into mainstream investment with a new economic model, and it is also the basis for bitcoin to replace the US dollar as a safe haven asset or even a global reserve currency. When the value consensus of bitcoin is recognized in a wider range, it can promote the broader value development of bitcoin. Behind the ever expanding value of bitcoin, the participation of institutions has contributed to the development background! We know that the reason why bitcoin has made great progress this year, whether in terms of risk aversion, profit effect, or long-term development trend, the large-scale entry of institutions has become the key to the breakthrough of bitcoin development! Of course, in order to become the main reason to promote the market, bitcoin “institutional bull” was born. Dan morahead, chief executive of Pantera capital, said the “bitcoin shortage” would push up the price of bitcoin. He said companies such as PayPal and MicroStrategy have made large-scale purchases, and major institutions are buying bitcoin faster than miners are mining bitcoin, which clearly led to the rise in bitcoin. Bitcoin compliance Road under the development of the market, bitcoin has brought a greater consensus foundation. At present, both the cognitive level of bitcoin and the infrastructure construction of bitcoin are developing rapidly with the market. Bitcoin also provides a clearer alternative to fiat money, overvalued stocks and gold. According to Dr. Cao Jing, founder of bitmax, bitcoin has gradually become the allocation target of mainstream finance. Under this mainstream development trend, bitcoin and its related transactions also require more compliant and secure services, which promotes the progress of bitcoin compliance. At the same time, institutions will continue to accelerate their embrace of bitcoin, the regulatory framework will be constantly improved to provide strong market transparency, and governments will begin to explore direct exposure. This creates an irreversible situation, and the next global reserve currency will be an open, global, limited, programmable and publicly verifiable currency. In this context, in the long run, every first and second tier exchange will take the regulatory route, and the space for non-compliance will become smaller and smaller. The reason for the wild growth in the past is largely due to the failure of regulators to keep pace with it. Once a clear regulatory approach is provided, all exchanges will move in this direction. Recently, the listing of coinbase, which has attracted much attention outside the circle and aroused a lot of heated discussions, is the result of the development under this background. At present, the amount of cryptocurrency funds is far less than that of traditional financial assets. However, the emergence of gray scale, which can lower the investment threshold and more compliance institutions, will bring more opportunities for traditional funds to enter the market. This will certainly change the current amount of cryptocurrency funds, thus playing a strong role in boosting the market. Therefore, no matter from which perspective, the current cryptocurrency market has a clearer development prospect, which is an important reason why bitcoin has become an important part of more and more institutional and individual investment.