BlockBeats News, February 16 — Renowned analyst Willy Woo stated that the 12-year valuation trend of Bitcoin relative to gold has recently been broken. Bitcoin’s relative valuation should be higher, but in reality, it has not been achieved, mainly due to market preemptively pricing in potential issues stemming from the risk of quantum computing.
Bitcoin may be patched in the future through quantum-resistant signatures, but this cannot solve the problem of approximately 4 million “lost” BTC (early lost private keys that could be cracked by quantum computers) re-entering circulation. Willy Woo estimates there is a 75% chance that these lost bitcoins will not be frozen through protocol hard forks, so the market needs to account for the 4 million sell pressure in advance.
Since MicroStrategy began accumulating BTC in 2020, the total enterprise and ETF holdings amount to only 2.8 million BTC. These 4 million lost tokens are equivalent to 8 years of enterprise accumulation, which could cause serious supply dilution. Before “Q-Day” (the day quantum computing threats are realized, estimated to be 5-15 years from now), BTC prices will continue to be affected by this cloud.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Over the past 1 hour, the entire network liquidated $183 million, with long positions accounting for over 95% of liquidations.
Gate News: On March 22nd, according to Coinglass data, the entire network experienced @1.83@ hundred million USD in contract liquidations over the past hour, with long positions liquidated at @1.74@ hundred million USD and short positions liquidated at @8.88@ million USD. By cryptocurrency type, Bitcoin contract trading liquidations reached @83.28@ million USD, and Ethereum contract trading liquidations reached @60.34@ million USD.
GateNews26m ago
BTC breaks below 70000 USDT, 24-hour decline 0.72%
Gate News reports that on March 22, market data from a certain CEX shows that BTC dropped below 70,000 USDT, currently trading at 69,995.3 USDT, with a 24-hour decline of 0.72%.
GateNews28m ago
Across the network, million in liquidations occurred in the past 1 hour, with BTC liquidations reaching @E1@ million.
Gate News, on March 22, Coinglass data shows that the total liquidation amount across the network in the past 1 hour reached $116 million, of which long positions liquidated $109 million and short positions liquidated $6.69 million. By coin type, BTC liquidations reached $44.75 million and ETH liquidations reached $42.02 million.
GateNews29m ago
Bitcoin Falls Nearly 2% in 15 Minutes, Consecutively Breaks Below $70,000 and $69,000 Levels
Gate News report: On March 21, according to market data, Bitcoin declined 1.91% in the past 15 minutes on March 22, breaking through two key levels at $70,000 and $69,000, now trading at $68,894.
GateNews30m ago
BTC drops below 69,000 USDT
Gate News bot message: Gate market data shows BTC breaking below 69000 USDT, current price 68970.8 USDT.
CryptoRadar37m ago
BTC drops below 70,000 USDT
Gate News bot message: Gate market data shows BTC has broken below 70000 USDT, current price 69982 USDT.
CryptoRadar42m ago
