Chapter 505 [Directed Harvesting]
Merrill Lynch has a huge amount of funds of 8 billion U.S. dollars. That is not a joke. The price of Bitcoin does not need that much money at all.
Although the current nominal market value of Bitcoin is 22.2 billion U.S. dollars, it is not small, but it is actually not big, and half of the Bitcoins have not yet been mined.
It is equivalent to saying that half of the nominal market value of more than 20 billion US dollars can be understood as "prohibited stocks", so it is called the nominal market value, and the actual circulation is only about half, which is more than 10 billion US dollars.
Among the 10 billion US dollars, Fang Hong hoarded 3.15 million bitcoins corresponding to more than 3.1 billion US dollars and was not included in the selling pressure, so the circulation dropped to about 7 billion US dollars, and the bitcoins dug out of it There are many forgotten, forgotten passwords, and a lot less.
Otherwise, Fang Hong would not be able to control the board to a high degree.
In general, even if Bitcoin rises to the $1,000 mark, the actual circulation value is far lower than Merrill Lynch’s $8 billion. It’s no wonder if the market’s commitment is not strong. As for the transaction volume exceeding $15 billion, that’s normal .
Because Bitcoin is T+0, every change of hands is a transaction, and N changes of hands are N transactions, and it is a 24-hour non-stop transaction.
At present, people participating in this price can’t hold it. They are greedy and fearful at the same time. Under the T+0 trading mechanism, many people intervene and quickly sell to stop the profit if they have a floating profit. It came up so fast.
At this moment, the price of Bitcoin is fluctuating in the price range of US$1,000 to US$1,050, fluctuating by about 5 percentage points.
Many ultra-short-term participants conduct high-frequency trading in this price range for arbitrage.
Over time, Merrill Lynch's funds were handed over to Qunxing Capital Management, and now they are frantically accepting orders above the price of $1,000 per bitcoin.
Fang Hong launched three main rises in the price of Bitcoin from $0.6 four months ago, pushing the price to the current historical high of $1059.96, during which time his chips were getting more and more.
Until today when Merrill Lynch started to take over the market, the trader team had already collected as many as 4.1 million bitcoins, plus Fang Hong himself had hoarded 3.15 million bitcoins earlier, for a total of 7.25 million bitcoins.
In other words, the number of bitcoins in circulation is already pitifully small, because the total number is only 21 million, and nearly half of the bitcoins have not yet been mined, so they can be highly controlled.
Under normal circumstances, it is almost impossible to ship, and no one will take the order.
But it is not a normal situation now, this is called directional harvesting.
Merrill Lynch's capital account has received 3.5 million bitcoins today, which means it has received about 3.5 billion US dollars, and the remaining part is directly used to make a top form.
...
As time passed, the eastern hemisphere entered daylight, and the big A also opened as scheduled.
Affected by the slump in the external market last night, after the slump in the A-share market on Monday, today it exploded again. The market index opened sharply at 2,468.03 points and opened lower by -2.33% during the bidding stage, setting a new low for the year.
After the market opened, it also opened low and moved low. In fifteen minutes, the index fell to 2437.68 points, a drop of more than 3.5 percentage points.
But then it began to fluctuate and rise, and the market fell by more than 7 percentage points in two days, which was indeed too hard.
It was already seriously oversold yesterday, and it would be a good thing to open lower again today. If there is a flat opening, it will definitely continue to fall. After a sharply lower opening and a quick sell-low, there will also be a retaliatory rebound in the intraday market, not only recovering 2500 points At the pass, it turned red and rose in the afternoon.
The market was immediately repaired within the day, and those who cut the meat in the early trading were so angry that they shut themselves up.
As of the close, the broader market index fell slightly by -0.03%, closing at 2526.07 points, and it closed up just a little bit.
...
In the afternoon, Qunxing Capital.
In the trading room where the Bitcoin trading team is located.
The person in charge of the trader entered the trading room, gathered the 30 people in the team together and said: "Brothers, Welfare is here. Vice President Tian just called me. All 31 members of our team will share 100 million yuan. The bonus package, I have 10 million, you all have 3 million, and it will be distributed directly this month."
As soon as these words came out, the thirty or so people present immediately cheered.
And the person in charge said: "And it's in US dollars, and it's after tax."
Hearing that it was US dollars, the after-tax bonus of 300 US dollars was almost 20 million yuan, and the 30 people present all stood up excitedly and cheered again.
One of the traders couldn't help sighing: "After less than a year in the job, I became financially free..."
At this time, the person in charge turned to emphasize: "However, the ugly words are the first, and we must not leak a word about our work, even your wife must not mention it, otherwise the consequences will be at your own risk, whichever is more important to you It's clear in my heart."
The team members present nodded their heads when they heard this. Everyone was smart and knew it very well. In fact, to put it bluntly, the 20 million bonus was a hush money in a sense.
They all knew what they had done, cut off Merrill Lynch's leeks!
It is a financial institution that is one of the world's five largest investment banks. It is also at the top of the food chain on Wall Street. When someone sends money and entrusts you to make an asset management plan, you will go down with a knife, and the knife will be unambiguous.
One word: ruthless!
One word: dare!
One word: cattle!
They are also curious about how it will end when the time comes.
However, the 30 or so people present also had a nonchalant mentality, as long as they don't gossip and cause trouble, then even if something goes wrong, it's the company's business, and it has nothing to do with them.
After all, their field of vision did not reach Fang Hong's height, and they still thought that Merrill Lynch was the victim, and they didn't even know that the 8 billion US dollars was a sugar-coated shell.
...
Quiet Villa.
Tian Jiayi came back from the company and also reported to Fang Hong the harvest of Bitcoin after this harvest.
At this moment, she is reporting in the study on the second floor: "Merrill Lynch's funds have already received 3.5 billion U.S. dollars. After deducting the operating capital costs, your personal account net income is 2.435 billion U.S. dollars. Counting the 600,000 bitcoins in hand, According to the current market price, there are still about 600 million US dollars here.”
In other words, the profit was about 3 billion U.S. dollars, and the other 600,000 bitcoins worth 600 million U.S. dollars have not yet been realized, and the amount of realization is profit. The cost has been fully recovered, and the profit has exceeded 2.4 billion U.S. dollars .
Tian Jiayi put down the materials in his hand, looked at Fang Hong with doubts and curiosity, and said, "I thought you planned to sell the previous 3.15 million bitcoins as well. 8 billion US dollars, I think the price of Bitcoin can be raised to 2,000 US dollars, and Merrill Lynch’s funds just happened to take over, and the set is even higher.”
She thought that Fang Hong was going to give the 3.15 million bitcoins to Merrill Lynch as well. In that case, Merrill Lynch would take over the 7 million bitcoins at a price of $1,000, which was almost the same as the $8 billion asset management that Merrill Lynch gave to him just now. Funds are cut.
Hearing this, Fang Hong laughed and said: "You can't go to extremes in everything, then it would be too obvious."
Tian Jiayi immediately asked back: "Isn't it obvious now?"
...
(Ps: There is a problem with the computer and the update is delayed)
