Bitcoin has entered a new stage of development—institutional capital is pouring in. At a recent industry conference held in Hong Kong, industry insiders pointed out that as regulatory frameworks become increasingly clear, traditional financial giants are also changing their attitudes toward Bitcoin. This not only signifies an increase in market liquidity but also indicates that the deep integration of crypto assets with the mainstream financial system is an inevitable trend. Of course, the influx of institutions also brings new risks and opportunities—we need to continuously monitor policy directions and market trends.