Matrixport: Bitcoin's Price Surge Driven by Increased Hashrate and Corporate Accumulation

BlockBeats News, May 13th, Matrixport posted on X platform stating, "The security of the Bitcoin mining network is increasingly strengthening. With the continuous rise in hash rate, the competition among miners is becoming more intense, expecting to drive $10 to $12 billion in annual capital expenditure (CapEx). This intense competitive landscape not only enhances the network's security but also further promotes decentralization. From historical experience, the increase in mining capital expenditure is often closely related to the rise in Bitcoin's price".

"Corporate buyers represented by MicroStrategy continue to buy and hold Bitcoin for the long term, further reducing the market's circulating supply. The current structure indicates that until the hash rate has not peaked, the Bitcoin price may still have room to rise — and this turning point has not yet arrived. Overall, the Bitcoin network continues to expand, and market demand is growing in parallel, these factors together provide solid support for Bitcoin's price".