① On February 29, Bitcoin once surpassed 64,000 US dollars, continuing to hit a new high since November 2021. Bulls' optimism is heating up, and they believe it will soon break through the record high of nearly $69,000 hit in November 2021. ② According to Dongwu Securities Research Report, Bitcoin also has an impact on the stock prices of related listed companies, mainly mining companies, trading platforms, and coin holders.
On February 29, Bitcoin once surpassed 64,000 US dollars, continuing to hit a new high since November 2021. Bitcoin has risen on all but 8 trading days since February. The next Bitcoin “halving” will take place in April, and bulls are optimistic that it will soon break through the record high of nearly $69,000 hit in November 2021.
According to the Dongwu Securities Research Report, Bitcoin will usher in triple benefits in 2024: halving, the rise of the Bitcoin ecosystem, and the expectation that the Federal Reserve will cut interest rates. Bitcoin also has an impact on the stock prices of related listed companies, mainly mining companies, trading platforms, and coin holders. The business model of mining companies can be summed up as “early investment - late harvest”. As the Bitcoin ecosystem improves and transaction volume grows, early investment gradually dilutes, and later earnings may grow steadily; trading platform revenue comes from transaction commissions and has the characteristics of “water sellers”; leading trading platforms use scale advantages to establish competitive barriers; coin holders buy large amounts of Bitcoin at a relatively low cost in the early stages to enjoy capital benefits.
According to the Finance Federation's theme library, among the relevant listed companies:
Zhidu Co., Ltd. invests in Bitmain and Bitdeer. As of June 30, 2023, the book value of the company's intangible assets-digital asset (Bitcoin) account was 61.784,800 yuan.
Newegg, a holding subsidiary of Contact Interactive, invested approximately RMB 103 million in Bitmain.