High School Belle Fell in Love with Me

Chapter 561 - 247: Not Even Dogs Would Buy

Li Yang originally thought Li Xiao wouldn’t sell Bitcoin anymore because Bitcoin was on the rise.

As soon as he arrived at the teahouse, Li Yang saw an Extreme Shadow car.

Upon seeing Li Xiao, he noticed the NFC key of the Extreme Shadow car, and he understood that the car belonged to Li Xiao.

There are hardly any Extreme Shadow cars in Capital City. After all, the service center in Capital City was just set up, and only about twenty or thirty cars are delivered daily.

In a vast city like Capital City, you might encounter one every two weeks, even if you’re out driving frequently.

Anyway, this was the first one Li Yang had seen.

After Li Yang came in, he laughed and said, "Congratulations, brother! You are now worth over a hundred million US Dollars."

Li Xiao quickly responded, "Brother, you’re flattering me. Although the price of Bitcoin has risen, the trading volume hasn’t. Even if I want to cash out, I can’t."

That’s why Li Xiao came to see Li Yang today.

Bitcoin indeed rose, and so did his net worth.

However, the situation is still pretty much the same as before. The trading volume isn’t enough. He could secretly sell a few dozen daily, but anything over two or three hundred becomes risky.

It doesn’t take much; selling three hundred a day for a month would weigh down the market.

After all, only a few thousand Bitcoins are traded across the entire network every day; occasionally, it might reach ten or twenty thousand, with the trading volume constantly fluctuating between several million to twenty or thirty million US Dollars.

To truly unload twenty or thirty thousand, you’d have to trade privately without entering the market.

Li Xiao, who has studied Bitcoin for so many years, knows better than anyone that if you cash out in large numbers now, the hard-earned popularity will crumble.

No one else will come to play. Even if you cash out, you’re merely breaking even or making a small profit, while the rest of the Bitcoin would be stuck in your hands.

Li Yang asked, "I see Bitcoin’s trading volume has doubled since last year. Shouldn’t that make it easier to cash out?"

Li Xiao helplessly replied, "But the price of Bitcoin has tripled. In relative terms, trading has shrunk this year."

He didn’t believe Li Yang didn’t understand.

Li Yang immediately replied, "That’s a good thing. Shrinking volume with rising prices in the stock market means there’s potential for the future. A big market is brewing. It seems like I should congratulate you on your net worth hitting one billion or even two billion US Dollars."

Li Xiao definitely knows that Bitcoin, at this point, just needs an opportunity.

After Li Yang sat down, Li Xiao immediately said, "Brother, I want to sell another batch of Bitcoin."

Li Yang was surprised, "Brother, you shouldn’t be short on cash, right? I feel Bitcoin can definitely hit two thousand US Dollars or even higher. Don’t you feel it’s a loss to sell now?"

Li Xiao said seriously, "I believe Bitcoin can reach twenty thousand US Dollars."

"Ah? Then it’s even more reason not to sell."

Li Yang still wasn’t sure what exactly this guy wanted to do. With such confidence in Bitcoin, why come to him?

Shouldn’t he regret selling fifteen thousand to him?

He only spent less than four million US Dollars in total, and now those Bitcoins are worth fifteen million US Dollars.

Li Xiao’s expression became even more serious, and he said word by word, "I want to build a platform, but I’m short of money. I want to partner with you."

Li Yang quickly waved his hand and said, "That’s not possible. Trading virtual currencies in China is against the rules, and setting up a platform is illegal. You better find someone else for that."

Li Xiao is really daring.

Something he wouldn’t dare to do in a past life, he’s bold enough to try in this one.

Essentially, Li Xiao is a madman. It’s not surprising he has such thoughts.

But Li Yang doesn’t see the need.

Is it lucrative to run a Bitcoin platform?

It definitely is.

Even without knowing future trends, making several tens to hundreds of millions of US Dollars is easy because, in a few years, Bitcoin’s trading volume will be enormous.

Just like brokerage firms, why do they always lead in a bull market?

Brokerage firms face stiff competition; there are more than a hundred brokerages for A-shares. However, if a Bitcoin trading platform gets established, it could easily capture at least thirty percent of the market share.

In a market where daily trading volumes are tens of billions of US Dollars, what does a thirty percent market share mean?

The transaction fee for Bitcoin contract trading is generally 0.02% for posting orders and 0.05% for taking orders.

Let’s calculate based on a minimum daily trading volume of twenty billion US Dollars, the daily fees would amount to 1.4 million US Dollars.

It’s not uncommon for a Bitcoin platform to capture thirty percent of the market share. Platforms that often burst usually have a ten to twenty percent share. If Li Yang wants to do it, he certainly wouldn’t burst even once.

Slowly, it would be possible to expand the share.

Bitcoin runs year-round without holidays, earning at least four hundred thousand US Dollars a day, which is more than a billion dollars a year.

And that’s underestimating it.

In reality, in a few years, Bitcoin will be crazy, with daily trading volumes over a hundred billion US Dollars, even reaching nearly eight hundred billion on particular days.

Average daily trading of two hundred billion is effortless.

In that scenario...one could earn fifteen to sixteen billion dollars a year.

Moreover, contract and spot trading aren’t necessarily related. Bitcoin’s contract trading exceeds spot trading, sometimes by several times.

For example, Binance, in 2019, had an average twenty-four-hour Bitcoin contract trading volume of two hundred ninety billion US Dollars, reaching as high as seven hundred sixty billion in a single day by 2021.

Of course, including both Bitcoin contracts and spot trading, their market share is only about fifty percent.

That’s also why Binance’s CEO was willing to be fined seventy billion US Dollars; he has plenty of money.

If you secretly swallow some contracts using platform privileges, the earnings could be even more.