#比特币价格走势 Seeing this list, I feel a mix of emotions. The "cleansing" in 2025 is less an accident and more an inevitable result of cyclical movement.

I still remember the 2017 market rally—how many people's lives were changed forever by going All In once. Saylor's Bitcoin treasury strategy over the years has seemed brilliant, indeed delivering substantial returns before October, but that's the problem—when all eyes are focused on the upward trend of a single asset, we often overlook the other side of the market. From a peak of $3.8 billion to now, a shrinkage to $6 billion, these numbers are shocking. But in the face of cycles, even the strongest foundation appears fragile.

The 59% asset shrinkage of the Winklevoss brothers is also worth noting. Over the years, they have diversified into stablecoins, exchanges, and other sectors, yet they still couldn't escape this calamity. Conversely, Jeremy Allaire of Circle, because he bet correctly on the policy direction of the "GENIUS Act," saw his assets grow by 149%. This contrast clearly illustrates the point— in the crypto space, the risk of simply holding assets is often no lower than the risk of actively engaging.

History has shown me that every major dip hides structural opportunities. The true winners are not those who accumulated the most during a bull market, but those who make the right judgments at cycle turning points. The current difficulties may well be the prelude to the next reshaping of the landscape.