Wang Chong, founder of NiuHuaLi, shared his wonderful speech on New Year's Eve | "Mining is equal to 2 times long, and there will never be a liquidation"

On January 7, 2021, the New Year's Eve speech "Riding the Wind" initiated by Yu Jianing, President of Huobi University, was successfully held at the Hangzhou Grand Theater.

Mr. Wang Chong, founder of NiuHuaLi, was also invited as a guest to attend the New Year's Eve speech and shared his wonderful views on the spot, which resonated greatly with the audience. The following video is a transcript of the wonderful speech.

In the past 2020, the two most frequently appearing words in the digital asset industry are institutional entry and Grayscale Capital, and Grayscale Capital is the channel and portal for institutional entry.

After Black Thursday, investment institutions represented by Grayscale bought Bitcoin crazily, and the Bitcoin trust holdings rapidly increased to nearly 600,000 coins in the past year. Due to a series of compliance reasons, they could not sell Bitcoin, and could only form Bitcoin trust shares through continuous purchases and sell them in the capital market.

Grayscale represents the views and cognition of mainstream institutional investors in the United States on digital assets. Among the long list of investment institutions behind Grayscale, we can see the Rothschild family. The Rothschild family established the world's largest financial empire at the time. A family that has stood in the world for hundreds of years, it has continuously financed emerging companies in several new technological revolutions. Having gone through countless booms and busts over the past century, it has a deep understanding and insight into the market.

We also see that the international payment giant Paypal has opened up new ideas. After completing a series of compliance requirements, some US users can directly purchase and hold Bitcoin assets on Paypal. In the future, more merchants will use Bitcoin for payment based on Paypal.

This is the beginning of the effective introduction of digital assets and blockchain into the real economy industry, from a small circle to the big world.

In his speech, Mr. Wang Chong said: "In the field of encrypted digital currencies represented by Bitcoin, mining is the underlying infrastructure of the blockchain. Without mining, there would be no network security on the chain. Cognition is greater than luck, and you will never make money beyond the scope of cognition."

Looking back at the returns of major global asset classes in 2020, according to Wind data, Bitcoin topped the list in terms of returns over the past year, reaching 303.87%. A three-fold increase far exceeded other traditional assets such as gold, S&P 500, and oil.

We have seen that the form of assets has quietly changed. In the past, people's favorite investment targets were gold, oil, stocks, etc. with high returns. However, digital assets represented by Bitcoin have become investment products favored by the younger generation.

Mr. Wang Chong believes: "For newcomers, the best way to participate in Bitcoin investment is fixed investment and mining. Through these two methods, the number of Bitcoins in hand can be increased more reasonably."

“Mining is equivalent to buying coins at a discount. Through mining, you can passively hold and store coins so as not to miss the bull market. Mining is equivalent to 2 times the future of the digital currency you mine, and you will never get liquidated.”

Digital assets have good liquidity, independence, security, programmability and broad application potential. They have transformed from alternative investments to new mainstream assets and will be widely paid attention to and accepted by more people around the world in the future.

The value of digital assets can effectively cross economic cycles. It is a "future asset" and will become the core carrier of wealth inheritance from generation to generation.

Perhaps the impact of digital wealth will last beyond a hundred years, and the critical period will be the next decade.

Wang Chong sighed: "Making money is as easy as breathing, but making coins is harder than climbing to the sky!" As a lucky person who benefits from the dividends of every era, holding on to the digital currency assets in your hands and increasing the number of these assets is the correct way to open up future wealth!