The improvement of the regulatory environment in the crypto industry, the implementation of BTC strategic reserves, and companies continuously increasing their BTC holdings.

Written by: Blockchain Knight

After a month of market consolidation, it seems that everyone has become accustomed to BTC starting with "8" and has come to the realization that the market may not experience a major reversal in the short term. On one hand, we have to accept the current reality of the market; on the other hand, if we look beyond the market itself, there may be more noteworthy developments.

In my view, there are three key issues in the current crypto space that deserve our attention—improvements in the regulatory environment of the crypto industry, the implementation of BTC strategic reserves, and companies continuously increasing their BTC holdings. Most people either underestimate their long-term impact or selectively ignore them due to the current market downturn.

Last week, Ripple CEO Brad Garlinghouse publicly stated on social media that the SEC would drop its appeal against Ripple. This lawsuit, which has lasted for more than five years, is finally nearing its end. However, the important aspect is not just Ripple itself, but rather the reflection of changes in the regulatory environment. This outcome will become a key milestone for the crypto industry, marking a shift from regulatory confrontation to compliant coexistence.

Similarly, last week the U.S. Securities and Exchange Commission (SEC) held its first crypto working group roundtable. Miles Jennings, the general counsel of a16z crypto, stated at the meeting that the SEC's previous attitude towards crypto was ineffective, "It neither protected investors nor created capital effects, nor did it form an effective market."

Since Trump took office, the U.S. has been seeking a new regulatory framework for crypto, especially among the core members of the Trump administration, more than ten of whom are supporters of crypto.

In the next six months, with the official launch of the "21st Century Financial Innovation and Technology Act" and the regulatory framework for stablecoin issuance and operation, the market is expected to undergo significant changes, which will inevitably reshape the entire crypto industry.

Of course, merely changing the regulatory environment is not enough to instill confidence in the market. Therefore, on March 6, Trump signed an executive order requiring the federal government to establish a strategic reserve of all confiscated BTC, while also creating a reserve composed of digital assets other than BTC.

Although the market showed a "sell on the news" trend shortly after this news broke, and people have even stopped mentioning this event, the true impact of this matter lies in the fact that "they have set an example." After all, six states have already entered the voting process in their respective legislatures regarding BTC strategic reserves, and eight states have submitted proposals for committee review.

Imagine, as one of the world's top two major powers, the government has begun to stockpile BTC. How will other countries respond, and how should other organizations and institutions view this event? For some U.S. regulatory agencies, it is akin to being told directly that this has already become a national reserve asset, yet they are still debating whether to continue pressuring this industry.

Finally, as the top-down regulatory environment begins to shift and BTC rises to a strategic significance, more companies will inevitably increase their investments in the BTC market. After all, there are only 21 million BTC in the world, not counting those that have already been lost or are passively locked.

According to the latest report from BitcoinSuisse, nearly 14% of circulating BTC is currently held in BTC ETFs, corporate balance sheets, and by various governments. In just the past 12 months, over 500,000 BTC have entered the U.S. spot ETF market. Since January 2024, publicly listed companies have been adding an average of over 1,000 BTC daily, and BTC holdings are expected to see an 80% increase in 2024, with this trend accelerating in 2025…

Thus, when we look at these three issues together, we find that changes in the regulatory environment will stimulate more companies and institutions to enter the crypto market. Strategic reserves will demonstrate the regulatory resolve through practical actions, while companies are investing real money to join this race, thereby forming a flywheel. Once the flywheel reaches a critical point, it will undoubtedly bring a tremendous impact to the market.

However, some readers may jokingly point out that these policies and institutions are primarily focused on BTC, and their relationship with the entire crypto industry seems somewhat tenuous. But let me ask, where does the economic foundation of the entire industry come from—still BTC. If the big brother is soaring, won't the little brothers follow suit to some extent?

Looking to the future from the present always requires more courage and confidence, but isn't the bold spirit of "not fearing the floating clouds that obscure the view" the very foundation for the development of this industry? Otherwise, how could BTC, which has been "declared dead" nearly 500 times, still exist and thrive? After all, even the CEO of BlackRock, who criticized BTC eight years ago, has chosen to embrace BTC now. The world may have undergone significant changes.

Recently, there has been talk that BTC will be better and priced higher by 2030, but perhaps we won't have to wait that long to see a brand new era. Of course, I'm not referring to another round of crazy MEME speculation.

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