Teacher Fengmi's words are quite representative. My father is one of the earlier stock investors in China, so his acceptance of new things is relatively high. It's actually quite interesting; he has two attitudes towards cryptocurrency. Before 2020, when I talked to him about making some investments, he always told me that when it's time to sell, I should sell and not hold onto it. If I could make short-term trades, I should do that and secure my profits. He hardly ever asked me what my main holdings were. At that stage, his understanding of $BTC was likely the same as that of most non-industry people.

By 2023 and 2024, his understanding began to change, especially after Bitcoin was approved for a spot ETF in the U.S. Even domestic news started to report on it, and some domestic companies began discussing using BTC as an asset. It was probably around this time that he could distinguish between Bitcoin, Ethereum, and other tokens.

During this period, our conversations shifted from short-term trading strategies to investment strategies. He started asking me about investment opportunities in cryptocurrency and was very proactive in discussing Bitcoin's compliance-related issues in the U.S.

The third phase would be after the second half of 2024. The focus during this time was on Trump endorsing BTC and the price of BTC breaking through $100,000. Both of these were groundbreaking for him. He began asking me why the U.S. would consider BTC as a strategic reserve, why BTC would become a safe-haven asset, and why institutions and publicly listed companies would buy BTC. Interestingly, my father not only asked me but also researched a lot of information (he's 70 years old) to judge whether what I said was correct.

This led to him telling me before New Year's Day 2025 not to sell BTC. This was the first time he said to me that holding a certain asset is better than trading it. My father is a typical short-term stock trader, yet he advised me to hold BTC for the long term. This change reflects his understanding of the market.

Unlike Teacher Fengmi's father, my father has known from day one about the legal status of cryptocurrency in China. He is very supportive of my work in this industry and encourages me to write outside of China. He often tells me to do what I believe is right, emphasizing that what you think is correct is more important than what the law tells you is correct.

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