Bitcoin, Volkswagen Comprehensive News

Funds raised in Bitcoin <Crypto and institutional rights are buying each other>

The current market capitalization of stablecoins is about $145B. Tether, the issuer of the largest USDT (market value of $100B), says that about 75% of its reserves are short-dated US Treasurys. Other issuers may be different, but conservatively, if we set it at around 70%, the US t-bills held by stablecoins will be about $100B.

Japan has about $1.14T and China has about $0.8T of US t-bills, so the amount of US t-bills held by stablecoins would be about 5% of Japan + China. $100B is not a small number considering that it's only been 10 years since stablecoins came into the world.

Meanwhile, ETFs are rapidly absorbing Bitcoin. As of 3/8, there are about 400,000 grayscale and about 400,000 newly entered ETF issuers, a total of about 800,000 BTC are held by ETFs. As of January 14, when the ETF was approved, it increased from 3% to 4% before less than two months ago. (BTC's current issuance volume of 19.65M BTC)

So, coins are buying U.S. government bonds and institutional finance is buying Bitcoin. It's fast, and the results that have already been achieved are significant.

Governments around the world are trying to isolate crypto and institutional finance, but it seems like the containment is already being torn down. It reminds me of the Berlin Wall.



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A German friend who came to Korea as an exchange student while working for a company and attending school for a while once said that Korea is too dependent on Samsung in related industries, and that Germany is too dependent on Volkswagen. In his eyes, Samsung was bigger than we see, and it would never be good for German automakers, including Volkswagen, to take up too much of the overall industrial ecosystem.

At the time, (as far as I know from the outside), I thought, "Germany is the country of that small business?" and accepted that the German with a solid economy and industrial structure was worried earlier.

However, watching Volkswagen recently reminded me of his worries again.

Volkswagen is the face of the German automobile industry and the biggest pillar supporting the German economy. When Volkswagen stops, it will become difficult for numerous small and medium-sized enterprises (which effectively support Germany together) to cooperate with them, and a crisis will inevitably arise in the overall industrial ecosystem. However, in the era of electric vehicles, Volkswagen is now in a position to worry about ontological threats.

The automobile market has not yet undergone a huge transition to electric vehicles. Internal combustion engine vehicles are still well produced and selling well, and some major companies have declared that they will continue to focus on internal combustion engine vehicles, saying that electric vehicles are difficult to become a trend, so some think that it may cause a setback in "electricity."  

But most acknowledge that the shift to the electric vehicle era has already become inevitable. And a massive shift is already taking place at the base. Quite a few people still don't feel the change, or are trying to downplay it because the pivot point is completely different from the one that led the existing industry. The centerpiece of the huge electric vehicle ecosystem, which is completely different from internal combustion engine vehicles, is concentrated in Asia, mainly in China, and Volkswagen, which leads the German economy (which recently became the third-largest in the world), is on the verge of being pushed to the side in the electric vehicle era.

Of course, if Volkswagen makes the transition in a timely manner, this prediction will be beautifully wrong. However, it is true that the current situation in which the huge ecosystem it already owns must be well operated and a new huge ecosystem must be created to make the transition smoothly is a very difficult task. Moreover, China, where the electric vehicle ecosystem is built first and consumers are transitioning first due to its own companies, is a market that Volkswagen relies heavily on.

If you come up with an idea like, "No way. It's Volkswagen," you may change your mind this time. If Volkswagen is to continue producing the cool cars under the group and remain in consumers' perception as a cool traditional company, it must soon demonstrate the possibility that it can move faster and make a transition to build a new ecosystem.