PANews reported on May 13 that according to a chart released by Matrixport today, the security of the Bitcoin network is increasing, mainly due to the increase in computing power and the accumulation of Bitcoin by enterprises. As competition among miners intensifies, Bitcoin's computing power continues to rise, and annual capital expenditures are expected to reach US$10 billion to US$12 billion. This competition not only strengthens network security, but also promotes diversified development. Historical data shows that increases in mining capital expenditures are usually associated with rising Bitcoin prices.
On the other hand, corporate buyers like MicroStrategy are acquiring and holding Bitcoin, effectively reducing the circulating supply. This dynamic suggests that Bitcoin prices may need to rise until the hash rate reaches peak, which has not yet occurred. Taken together, these factors indicate that the Bitcoin network is expanding and demand is growing, both of which ultimately support rising Bitcoin prices.
