The admission of large institutions is not a new situation. It has existed for a long time, but it has attracted more and more attention in the past six months or so. The entry of many large institutions into digital currency and the purchase of bitcoin and other digital currencies means that the traditional financial capital and industrial capital begin to adjust their position on digital currency comprehensively, from observing and keeping a distance to finally admitting the existence of their value, and try to realize a kind of "hybrid advantage" through the combination of traditional financial means and digital currency to influence the discourse of digital currency pricing Finally, it will affect the function of digital currency with the significance of social change.

Because of the large-scale influx of traditional capital into the digital currency trading market, it will inevitably promote the price rise of digital currency, resulting in higher and higher holding costs, and increasing the possibility of excluding the middle and lower classes from owning digital currency. To a certain extent, this is contrary to the original intention of the invention of bitcoin.

However, this does not mean that traditional capital can really transform bitcoin according to its own will. This is because no external force can subvert the mechanism and rules of bitcoin's blockchain foundation and operation mode, and no foreign force can change the ecosystem that bitcoin has formed.

In particular, the influx of traditional capital has led to a periodic balance between the rising price of bitcoin and the cost of capital. While pushing the price of bitcoin up, the rich also have to pay for the expensive bitcoin. When bitcoin reaches its limit, they can't buy it themselves. This is also the most important mechanism in the design of bitcoin. It should also be noted that the rise in the price of bitcoin will stimulate the division of bitcoin and lead the public to become a smaller unit of bitcoin, which also prevents the occurrence of oligopoly to avoid bitcoin. So it's hard to deduce that bitcoin becomes a game for the rich.

The future direction of bitcoin is very clear: because of the continuous inflow and outflow of capital, the price of bitcoin will continue to rise, but it will not be pushed up indefinitely in a one-time or short time.

With the rise of the price of bitcoin, the transaction of bitcoin is small, and the scale of bitcoin owners is increased, which will not be monopolized by a few people. At the same time, there is almost no possibility that bitcoin will be nationalized, and it will continue to be a form of wealth parallel to the national sovereignty law.

(2021-4-6)