Many people may not realize that perceptions of Bitcoin are undergoing a significant shift. Except for the relatively isolated region of China, the rest of the world is gradually opening its doors to Bitcoin. For instance, top-ranked companies worldwide are starting to express their intentions to hold Bitcoin reserves; Bitcoin ETFs have entered the U.S. stock market, the Hong Kong stock market, and the European market; the number of cryptocurrency investors in South Korea exceeds that of stock investors; and Trump announced that the U.S. government will continue to purchase Bitcoin over the next five years.

Whenever a disruptive new thing emerges, people's mindset will inevitably go through five stages: invisible, contemptible, incomprehensible, too late, and unattainable.

Why invisible? Many people may think it's due to limited information channels, but that's not entirely true. The more fundamental reason is inadequate cognition and insufficient knowledge reserves. As a result, you may have encountered it somewhere before, but since it doesn't intersect with your knowledge background, you simply don't realize its existence.

Why contemptible? Because new things are weak and have a small following in their early stages. If you don't deeply understand their destructive power and directly compare their early stage to the late stage of a giant, it's easy to underestimate them. This seems like laziness, but it's actually a problem of knowledge reserves. It takes a lot of effort to deeply understand and comprehend them, so people are lazy about it. If you already have relevant knowledge reserves, deep understanding only requires filling in gaps in other areas of knowledge, making it more likely for you to delve into it.

Why incomprehensible? When a new thing survives rounds of attacks from the remnants of the old world, people will take notice because it can't be easily defeated. But when they look into it, they find it hard to understand—this is normal. If it were easy to understand, its destructive power would usually be less significant. At this point, many people want to participate but hesitate. The essence is that they don't understand it, so they don't take action. Even if they do, they can't hold on to it or play it well.

Why too late and unattainable? The development of new things is like this: when they are weak, even if their size doubles, you won't notice. For example, in a large lotus pond, you can't see the difference when one lotus leaf turns into two. But when half the pond is covered with lotus leaves, it only takes one day for the entire pond to be covered. You'll be shocked—even though the speed is the same, you're only shocked when the absolute value reaches a perceivable change. And when you're shocked, it's already too late and unattainable.

In its early stages, Bitcoin was outside the mainstream world, so transactions, storage, and innovations related to the entire blockchain industry were slow. Even though it was making significant progress, most people couldn't enter this market, so they couldn't see its advancements. Until it gradually became one of the assets with the largest market capitalization in the world, the mainstream world started to open channels to it, making it easier for ordinary people to enter. From then on, its subsequent progress accelerated.

Similarly, the story of Bitcoin has just begun since the moment it became easily accessible to the mainstream world.

Many people may not realize that perceptions of Bitcoin are undergoing a significant shift. Except for the relatively isolated region of China, the rest of the world is gradually opening its doors to Bitcoin. For instance, top-ranked companies worldwide are starting to express their intentions to hold Bitcoin reserves; Bitcoin ETFs have entered the U.S. stock market, the Hong Kong stock market, and the European market; the number of cryptocurrency investors in South Korea exceeds that of stock investors; and Trump announced that the U.S. government will continue to purchase Bitcoin over the next five years.

Whenever a disruptive new thing emerges, people's mindset will inevitably go through five stages: invisible, contemptible, incomprehensible, too late, and unattainable.

Why invisible? Many people may think it's due to limited information channels, but that's not entirely true. The more fundamental reason is inadequate cognition and insufficient knowledge reserves. As a result, you may have encountered it somewhere before, but since it doesn't intersect with your knowledge background, you simply don't realize its existence.

Why contemptible? Because new things are weak and have a small following in their early stages. If you don't deeply understand their destructive power and directly compare their early stage to the late stage of a giant, it's easy to underestimate them. This seems like laziness, but it's actually a problem of knowledge reserves. It takes a lot of effort to deeply understand and comprehend them, so people are lazy about it. If you already have relevant knowledge reserves, deep understanding only requires filling in gaps in other areas of knowledge, making it more likely for you to delve into it.

Why incomprehensible? When a new thing survives rounds of attacks from the remnants of the old world, people will take notice because it can't be easily defeated. But when they look into it, they find it hard to understand—this is normal. If it were easy to understand, its destructive power would usually be less significant. At this point, many people want to participate but hesitate. The essence is that they don't understand it, so they don't take action. Even if they do, they can't hold on to it or play it well.

Why too late and unattainable? The development of new things is like this: when they are weak, even if their size doubles, you won't notice. For example, in a large lotus pond, you can't see the difference when one lotus leaf turns into two. But when half the pond is covered with lotus leaves, it only takes one day for the entire pond to be covered. You'll be shocked—even though the speed is the same, you're only shocked when the absolute value reaches a perceivable change. And when you're shocked, it's already too late and unattainable.

In its early stages, Bitcoin was outside the mainstream world, so transactions, storage, and innovations related to the entire blockchain industry were slow. Even though it was making significant progress, most people couldn't enter this market, so they couldn't see its advancements. Until it gradually became one of the assets with the largest market capitalization in the world, the mainstream world started to open channels to it, making it easier for ordinary people to enter. From then on, its subsequent progress accelerated.

Similarly, the story of Bitcoin has just begun since the moment it became easily accessible to the mainstream world.