QCP Capital: Market risk appetite rebounds, and funds are clearly shifting to digital assets

Planet Daily News: QCP Capital stated in its channel that amid news flooding, a $3 billion Bitcoin fund has become the focus. Cantor, SoftBank, Tether, and Bitfinex are joining hands to launch the 21 Capital fund, led by Brandon Lutnick, aiming to acquire a large amount of Bitcoin. The fund plans to raise $350 million through convertible bonds and conduct a $200 million private equity financing. Its structure is similar to the Strategy company that was once heavily invested in Bitcoin, but 21 Capital has a new twist: converting Bitcoin holdings into equity, issuing shares at $10 per share, effectively valuing Bitcoin at $85,000 per coin. This is seen as a prototype of large-scale institutionalized cryptocurrency exposure. The fund's launch coincides with a shift in US policy stance, with the Trump administration supporting the "digital gold" concept, boosting the crypto market. Bitcoin broke through the $88,800 technical resistance level, surpassing the $90,000 psychological barrier, with trading prices reaching $93,500. Meanwhile, gold prices dropped 6%, highlighting a recovery in market risk appetite and a clear shift towards digital assets. Institutions are no longer tentative but fully committed to the cryptocurrency field. As Strategy fades out, 21 Capital is poised to become the new benchmark for cryptocurrencies. Macro risks remain, but key issues seem to have been resolved. Trump stated he will not replace Federal Reserve Chairman Powell, causing long-term yields to fall and reducing tail risks. Although the bond market is stabilizing, the US stock market remains near the historical high of 5,400 points, with the market responding moderately and cautiously. However, the overall outlook is complex, with trade friction, geopolitical tensions, and regulatory opacity still posing challenges. Investors need to be wary of rapid market changes and watch for potential turning points.