Chapter 916 Bull Market Starts

When the first phase of the C bull market was completed, its price entered a consolidation phase.

At this time, China was one of the world's major markets for cryptocurrencies, so Matrix Capital and Distributed Foundation, which Rami was in charge of, went to China and other parts of Asia (Japan and South Korea) during this process and participated in many related meetings and activities.

And they also invested in many related projects, including exchanges and mining companies.

Although Barron knew that a considerable part of these investments might not make much money in the end, because even though the price of BitC had risen sharply, its total scale was still not large, and the funds they invested in it were relatively limited...

Not to mention that it was only a very small proportion of the investment - for example, the investment in OKcoin and HuoCoin would be enough to cover the total investment in the future...

And from the perspective of expanding Colo's influence in the blockchain industry, these investments are also worthwhile.

It is worth mentioning that Matrix Capital managed by Ami also involves his old business - a fund called Origin Fund with an initial asset size of only 5 million US dollars has also participated in the transaction of digital coins such as BitC and LitC.

This is not Barron's instruction, but Ami himself believes that he can participate in this BitC bull market and obtain part of the profits - anyway, the more than 500,000 BitC owned by the Distributed Foundation and the hundreds of thousands of BitC obtained from Satoshi Nakamoto will not be sold. The "investment" scale of the Origin Fund is very small. After instructing that it should not be the main force of speculation, but just go with the flow, Barron also allowed Rami's operation.

The Origin Fund also made a lot of profits in the first stage of this BitC bull market, and part of the profits were also used by Matrix Capital as funds for investment in the blockchain industry.

In fact, the reason why the price of BitC has risen so much since April this year, in addition to the fact that BitC completed the first halving of production last year, it is also related to the fact that BitC has gained more and more recognition over the years of development, or it can be said that it has gathered a considerable "consensus".

When more and more people think that something is valuable, whether it is a "metal" or a "code", it will gain corresponding value.

In February 2013, the news community Reddit paid service accepted BitC, and then the blog site Wordpress and the domain name server hosting provider namecheap accepted BitC payment.

Since then, more and more websites, including WikiLeaks, which has become more famous because of the "Prism Gate", have begun to support BitC payment.

In addition, on March 16 this year, the Cyprus government, with a population of only 1.1 million, froze people's bank transfers, causing a run on the bank, which led to BitC attracting attention in Cyprus.

Of course, at the current stage, the actual use scenario of BitC cannot be ignored, and it is still the gray and black field. The reason is that the anonymity of BitC makes it the "best" currency for some illegal activities.

For example, in the "black market" in the "dark web" of the deep network, most of the illegal transactions including intelligence, arms, and population are carried out using BitC.

Even recently, many hackers have asked the other party to use BitC to pay the ransom when they were extorting viruses.

There are also many money laundering and asset transfer behaviors that use BitC...

That is why, on March 18 this year, the U.S. Treasury Department's Financial Crimes Enforcement System FINCEN issued virtual currency personal management regulations in order to restrict the use of BitC in illegal activities and tax evasion.

Even so, at this stage, the supervision of "emerging things" such as BitC by various countries is still very lagging.

And Colo has become one of the first countries in the world to recognize the legality of BitC, and has enacted relevant laws to protect the property rights of BitC holders.

In addition, because the world's largest BitC exchange Mt.Gox is in Colo, and both Matrix Capital and Distributed Foundation have a close relationship with the non-profit organization BitC Foundation that continues to develop and promote BitC after Satoshi Nakamoto "disappeared".

Rami is a member of the BitC Foundation, and a considerable number of its members are also closely related to him.

Therefore, with the support of the Distributed Foundation, the first global BitC conference was held in Britta, the capital of Kolo, on May 17 this year.

More than 1,300 people from around the world attended the BitC conference. The participants were professionals who had already invested in the blockchain industry, including exchanges, mining machines and other new projects, as well as senior BitC enthusiasts.

At the same time, this was the first time that Kolo held such a global event - even if this "BitC conference" at this time, whether in terms of influence or popularity, may not be as good as a slightly famous sports event...

Similarly, this was also the first time that almost all the participants of the BitC conference came to Kolo, a small African country that they had never heard of before.

Perhaps in addition to the previous knowledge that the world's largest BitC exchange moved its headquarters here after being acquired.

In their impression, Kolo must be a backward and poor African country. Many people even doubted whether it was a joke to hold the BitC conference in Kolo - would there be mobile network there?

I am afraid that if the Distributed Foundation had not funded this global BitC conference and paid for the air tickets of the participants, there would not be many people coming to this conference, let alone 1,300 people.

However, after arriving in Britta, everyone's impression of Africa was completely overturned...

Britta, the capital built by the Kolo government, was itself participated in by a British design firm. Although it is far inferior to international metropolises such as New York and London, it can also be called a garden city with a pleasant environment and a clean city.

And the central business district (CBD) of the BitC conference in Britta can be said to be full of high-rise buildings, which feels a bit like Manhattan.

Although Colo is an African country with a predominantly black population, you can still see many European, American and Asian people in Colo. With the implementation of Colo's talent introduction policy, there are currently more than 70,000 non-black residents living in Colo, accounting for 1% of the total population...

These people mainly live in large cities such as Britta and Loti, and about two-thirds of them already have Colo nationality. Because Colo recognizes dual nationality, their immigration policy is relatively friendly to foreigners.

And some of those who came to attend the conference stayed here after the conference because of Colo's relatively friendly policy towards blockchain.

After all, a considerable number of BitC enthusiasts today are geeks who like technology. As long as there is a network, life is almost the same anywhere.

And after all these years of development, Colo, especially in large cities such as Britta and Loti, has very good network facilities.