Gu Yanxi: Revisiting Bitcoin's Value and Risks

In the past two days, the price of Bitcoin has risen above $18,000 and has been continuously climbing recently. Clearly, the market is currently filled with optimistic sentiment about Bitcoin. This optimism is justified—after all, American institutional and individual investors are beginning to invest more capital into Bitcoin, which naturally drives up the price of Bitcoin. However, under current market sentiment, it is still necessary to make objective judgments about Bitcoin's essence and its risks, to avoid making wrong investment decisions under the influence of emotion.