What does 100,000 Bitcoins mean?

The establishment of the Bretton Woods system in 1944 was a milestone event in the development of the international monetary system. Under the Bretton Woods system, the US dollar was pegged to gold, and other currencies were pegged to the US dollar. This "double peg" system enabled the US dollar to gain dominance in the international monetary system. Gold is the object of anchoring the value of national legal tender and becomes the value support of paper money. In 1971, the "Nixon shock" triggered the collapse of the Bretton Woods system, the anchoring relationship between the US dollar and gold ended, and the world entered the era of credit expansion. This stage is a game between the four elements of interest rate, exchange rate, inflation rate and GDP growth rate. Super monetary institutions such as the central bank of major countries, the IMF, and the World Bank maintain the operation of this post-Bretton Woods system, and the inflation rate and GDP growth rate dominate the political direction of many countries. In 2008, the subprime mortgage crisis triggered the global financial crisis, followed by the European debt crisis, which were the inevitable results of credit expansion. Super monetary institutions such as the Federal Reserve and the IMF effectively maintained the global monetary system in the "credit expansion" stage through QE and other monetary coordination mechanisms. However, the disadvantages of this system have been clearly presented, that is, credit expansion cannot last forever. The US debt has reached a historical high of 36 trillion US dollars. The spillover effects of the US interest rate hikes and cuts often trigger currency crises in other countries, so there are countless countries that have gone bankrupt. This is actually the content of the "Triffin Paradox". Is there a solution to the "Triffin Paradox"? Since it is a paradox, there is no solution. But this is an ultimate problem, and this problem may not happen to our generation, and perhaps not to the next generation. Therefore, the world chooses to ignore this problem for the time being. But it is a problem after all.

There is another story line for the development of the world. The progress of science and technology has promoted the real leap in productivity. In the 18th century, Maxwell proposed the Maxwell equations, which unified electricity, magnetism and light into electromagnetic fields, laying the theoretical foundation for special relativity and quantum mechanics. In 1854, German watchmaker Goebel made the first electric light with a carbonized bamboo filament placed in a vacuum glass bottle. In 1885, German engineer Karl Benz built the first gasoline tricycle in Mannheim, and the car was born. In 2008, the great god with the online name Satoshi Nakamoto published a paper on peer-to-peer electronic payment, and Bitcoin was born.

Since the birth of Bitcoin, the world has quietly changed a lot. In 2014, Russian genius Vitalik invented Ethereum (ETH), becoming the first "next-generation cryptocurrency and decentralized application platform". In 2017, Anatoly Yakovin invented the Solana public chain, which significantly reduced the transaction fees of the blockchain. By 2024, we have seen top-notch public chains and second-layer applications deployed on the global blockchain network. Chainlink, as a blockchain database company, has successfully connected to the SWIFT system, opening up the channel between the traditional financial system and the blockchain; FILE has become the best blockchain data storage company; Circle is expected to become a star company for the next generation of payments. Blockchain technology has quietly occupied many corners of the world and has begun to lead the future direction of the world.

What does 100,000 bitcoins mean? First, as a value store in the digital world, bitcoin is the value support for the development of blockchain. Only when the value of bitcoin rises, will the funds and resources of the traditional world continue to flow into the web 3.0 industry, and the tokens issued on other public chains will have value. In other words, bitcoin is the cornerstone of the entire blockchain industry and the means of production in the digital world, analogous to electricity, minerals, energy, etc. As long as the digital world continues to expand, the value of bitcoin will continue to rise. Second, 100,000 bitcoins means that the crypto industry has entered the mainstream society and become a mainstream asset, and this identity positioning has participated in pricing. With the coming of President Trump, the "FIT21" bill (virtual asset bill) to be proposed in the United States, and the United States' inclusion of bitcoin in the national and state reserve currencies, this means that there will no longer be any questions about "what" bitcoin is? Because bitcoin will be clearly positioned in U.S. laws. The driving force behind the value of bitcoin is the blockchain digital technology that has been formed behind it, which represents scientific and technological progress, and President Trump has farsightedly given this industry a "fairy breath". Third, 100,000 bitcoins have begun to change the financial industry. Since the launch of the Bitcoin ETF in January 2024, the wealth effect of the crypto industry has enabled crypto to maintain a net inflow of funds. Bitcoin is the best performing asset in the past 15 years (no one else). The world will soon enter a new round of multi-party game. When the United States begins to use Bitcoin as a reserve currency, will the United Kingdom, Canada, and Japan follow suit? When BlackRock continues to allocate funds in Bitcoin and Ethereum, will other financial institutions in the world follow suit? Sovereign and institutional funds will push Bitcoin to a higher position. Fourth, Bitcoin will not coexist completely harmoniously with traditional finance. Bitcoin is a "needle" . Bitcoin and related digital networks will puncture the huge bubble of traditional finance. But when this "puncture" will happen, no one knows. This is also an ultimate question similar to the "Triffin Paradox".

In less than half a month from November 6 to 22, Bitcoin rose by more than 40%. Standing at the moment of Bitcoin reaching 100,000 and the beginning of 2025, we are fortunate to see the profound social changes brought about by the technological revolution. From the perspective of the development of the monetary system, we may compare 2025 to 1971. The anchor of the international monetary system has changed again, which will profoundly change the narrative logic of the entire world.