My fintech empire.

Chapter 1244 [Crazy Market Conditions in Cryptocurrency Market]

Qunxing got this thing off the ground and successfully established a nationwide unified market for storage and computing services. In the future, when they make money, they will be able to bring more tax revenue to Zhongyang Finance. You should know that the majority of the tax contributed by Qunxing goes into the treasury of Zhongyang Finance.

Because there are two account books divided into 8800% and 88% respectively, the portion of the million yuan tax that is ultimately paid into the national treasury is million yuan, which is %.

Considering the absolute amount of tax that Qunxing contributes each year, it is not an exaggeration to say that it is a super money bag for the country. In addition to the tax base, the country also owns shares in Qunxing Capital.

The five major Guo Jia team institutions hold shares, and the corresponding asset prices rise, which also means an improvement in currency derivative capabilities.

To put it simply, it can bring greater debt expansion capabilities. For example, in the past, the corresponding net asset value of 1 million yuan could be mortgaged to borrow 6000 million yuan. Now that the net asset value has expanded to 10 billion yuan, the same proportion can be mortgaged to borrow 6 million yuan.

It can be seen that the country has made a clear calculation. There are so many benefits in all aspects, and overall the benefits definitely outweigh the disadvantages. It would be unreasonable not to strongly support it.

……

Shortly after the news broadcast reported that the "4 trillion yuan plan to build an integrated storage and computing center" was officially confirmed, the encrypted digital currency market went crazy, rising and falling sharply during the day, and people were worried that Fang Hong would choose April Fools' Day to make trouble.

Now it is 100% confirmed, and people are talking about it on the news, how can it be false? Moreover, in the half-hour news broadcast, reporting on this matter alone takes up one-third of the time, which shows how serious this matter is.

In the encrypted digital currency market, Bitcoin, Ethereum and other varieties have exploded in response, and the whole currency circle is boiling.

"Fuck, they sold out..."

At this moment, a small domestic cryptocurrency trader was watching the trend of Bitcoin and screaming and slapping his thigh, because the price of Bitcoin had broken through the previous high of the day, and the increase soared to 78 percentage points, and the price soared to US$1673 per coin.

He had just entered the Bitcoin long position and made a floating profit of nearly 20 points in less than a minute. The rise was so exaggerated that he was afraid of a fall so quickly that he quickly closed his position and cashed in the profit. Unexpectedly, the price soared.

After a while, he switched to another product and took a look. It was Ethereum, which is also a very famous product at the moment. He couldn't help but exclaimed when he saw the latest trend of Ethereum: "What the hell? It soared +197% in one day. Is this crazy?"

At this time, the price of Ethereum has soared to $178, and the corresponding market value has exceeded $50 billion, setting a historical high since the birth of this product.

The increase in Ethereum is much stronger than that of Bitcoin, but this is also based on the fact that the market cap of this variety is relatively much smaller. It soared nearly 2 times during the day and the total market cap only exceeded 50 billion US dollars, while Bitcoin next door increased by 80 percentage points but the corresponding market cap was 350 billion US dollars.

However, at this moment, whether it is Bitcoin or Ethereum, they are still rushing up madly, and other miscellaneous varieties are also standing on the cusp of the trend and soaring into the sky. Some have even soared seven or eight times, and some have even increased ten times in a day. Those miscellaneous varieties have smaller plates and are more likely to explode.

Everyone in the cryptocurrency world came out of the ICU and immediately went to KVT to have fun, the scene was boiling with excitement.

As time went by, the price of Bitcoin continued to rise, and soon it doubled in a day, breaking through the $2000 mark.

"It's still rising? Damn, it's still rising? The short sellers have been busted!" A retail investor in cryptocurrencies was thrilled by the trend of Bitcoin. At 20:44 in the evening of Eastern Time Zone 2700, the price of Bitcoin had further soared to US$187, with the intraday increase soaring to +%. Countless cryptocurrency players were stunned.

The major forums in the cryptocurrency circle are extremely popular.

[Crazy, crazy!]
[Both those who trade cryptocurrencies and those who don’t trade cryptocurrencies were stunned.]
[Ethereum has soared 350%, Bitcoin has soared 200%, damn, I missed out, seriously missed out, epically missed out.]
[Mad was so angry that he fainted. He only made 20 points, but he didn’t dare to chase it. As a result, the price kept rising.]
[I am devastated. I was forced to short Bitcoin at 2300 and my account was liquidated overnight. I lost $12, which doubled during the day.]
[Haha, I opened Ethereum at more than three times the price and it increased tenfold in one day. It’s a pity that the capital was 3000 US dollars, but I was satisfied with making 3 US dollars. I quickly closed the deal and put the money in the pocket. It was too exciting. My hands were shaking when I was trading.]
[Why is it still rising? Is the sky the limit? I feel bad. I missed out on this market.]
[The benefits are too great.]
[Awesome! Bitcoin price has once again reached the $3000 mark. Damn it… Today is going to be a new all-time high. Is Merrill Lynch, which is stuck at the top of the mountain, going to get out of this trap?]
[Merrill Lynch should have cut its stake long ago, right?]
[Not cut?]
[It broke, it broke, $3400, a record high! Merrill Lynch is going to sell off and I’m going to cry in the toilet, haha!]
[6666666...]
[Crazy, crazy, all crazy, I dare not reach out!]
……

The cryptocurrency world was in a complete uproar, and the price of Bitcoin was still rising violently. By the early hours of the morning, the final price of the daily K-line was locked at $3756.18, and since Bitcoin is traded 24 hours a day.

This night is destined to be a sleepless night for players in the cryptocurrency circle, as the short sellers were hammered today.

Bitcoin soared from $940.15 to $3756.18 in one day, with an intraday increase of 299.53%, tripling its nominal market value to $788 billion.

Relevant financial media at home and abroad are reporting on the crazy market conditions in the cryptocurrency market.

Just during the day, or even just an hour ago, no one would have thought that Merrill Lynch, which was trapped at the top of the mountain, would be untied like this. As long as the players in the cryptocurrency circle are not newbies who have just entered the market, the old players all know that Merrill Lynch was tricked by Fang Hong four years ago and was trapped at the historical high of Bitcoin. It was big news at the time.

Over the years, Merrill Lynch has not cut its trapped chips, and it has not cut them even now that it has broken through the historical high.

……

The next day, Qunxing Capital's plan to "invest 7 trillion yuan to build a storage and computing center" made headlines at home and abroad, and mainstream media newspapers also reported extensively.

Foreign media such as The New York Times, The Times, and The Wall Street Journal are also following up on the report, with headlines using the words "over one trillion US dollars" to attract attention. This matter has to be reported.

During the three-day holiday, the 7 trillion yuan issue was all over the news, overshadowing all other news.

At the same time, in the hardware market, the prices of graphics cards and other products from major manufacturers have taken off, and hardware manufacturers such as NVIDIA and AMD have also received a surge in orders. The demand is simply too great and the expectations are incredibly strong.

On Monday, April 4, the A-share market was still closed and would not reopen until Wednesday, April 3, but the U.S. stock market in the peripheral market was open.

Just today, the share prices of Nvidia, AMD and other related hardware manufacturers in the U.S. stock market skyrocketed, especially Nvidia, which soared +72% on the day, setting a historical high. Not only did it break the $1200 billion market value mark for the first time, it was directly pushed to a height of more than $ billion in one breath.

This company's market value was less than 2016 billion three years ago, but now it has been taking off since , riding on the trends of blockchain, encrypted digital currency, AI, etc. Especially at the current trend, the demand for storage and computing power in the Greater China market is setting off a craze for the construction of infrastructure for storage and computing power centers, and all major hardware manufacturers in the world combined are not able to supply enough.

It is worth mentioning that under Moore's Law, the performance of current chips is rapidly iterating and upgrading, and is increasing exponentially. Under Moore's Law, the performance of chips can easily double in a year and the price can be halved.

This is also one of the important reasons why Qunxing Capital wants to divide the 7 trillion into 1 trillion per year. Otherwise, it would be a huge loss. Even under the classic computing architecture, the chip performance in two years will be far better than it is now.

However, one trillion yuan per year is a very exaggerated incremental market demand for this industry.

……

(End of this chapter)