Matrixport Co-founder Wu Jihan responds: Analysts’ Independent Operations and ETF Approval are Inevitable
Matrixport Analyst’s Perspective Causes Market Turmoil, Some Community Speculates Motives Behind Bitmain and Matrixport Co-founder Wu Jihan
Wu Jihan, the co-founder of Bitmain and Matrixport, responded to people’s doubts.
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Matrixport Analyst: ETFs Expected to be Rejected in January, Bitcoin to Fall to 36K~38K
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Wu Jihan: Analysts Operate Independently, Unaffected by Interference
Wu Jihan stated:
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Matrixport’s analysts operate independently, and their perspectives are not influenced or interfered with by the management. They were hired for their exceptional analytical abilities, compared to myself and other members of the management team. Like many of you, I simply skimmed through the title of this report.
Marcus, a talented analyst, wrote the book “Crypto Titans” last year, which vividly depicts the price history of cryptocurrencies. His book provides a detailed review of certain events, sometimes even clearer than my own memory, despite some of these events causing personal financial losses.
Looking back at history, in early 2023, Matrixport was one of the few institutions that accurately predicted the Bitcoin bottom and maintained an extremely bullish attitude.
This latest report was prepared for Matrixport’s clients. However, it has been widely circulated by the media and is beyond our control.
To my knowledge, Matrixport has always been reminding clients to be mindful of risks and leverage, especially considering the potential volatility sparked by the recent expectations surrounding Exchange-Traded Funds (ETFs). This volatility has been evident in the high financing costs in the perpetual market and the decline of cryptocurrency-related stocks in the stock market over the past two trading days.
In terms of Bitcoin’s history and its future prospects, the current volatility and the uncertainty regarding the approval of Bitcoin ETFs in January 2024 are ultimately insignificant.
In the long run, Bitcoin will always prevail. In my opinion, the approval of a spot ETF by the U.S. Securities and Exchange Commission (SEC) is inevitable, which will attract new investment capital into Bitcoin. Bitcoin is attempting to occupy a position as a better store of value and a hedging asset than gold.
Matrixport
Wu Jihan
Further Reading
Bitcoin ETFs Will Not be Approved? Cryptocurrency Market Suffers a Loss of Nearly 600 Million Pounds
Matrixport Analyst: ETFs Expected to be Rejected in January, Bitcoin to Fall to 36K~38K
