#深度创作营 “The Godfather of Bitcoin” Liquidates Bitcoin: Is It a Faith Collapse or an Era Shift?

Wu Jihan’s liquidation has triggered a shockwave in the crypto community comparable to the “94 Incident.” For old-school Bitcoin believers, this is a collapse of faith. They believe in “Bitcoin is eternal, hold until it rises,” and as an early participant and industry giant, Wu Jihan should have been the most steadfast guardian of this creed. Now, leading the charge to “cut positions,” is undoubtedly a heavy blow to the narrative of “digital gold.” But for more discerning observers, this seems more like an era transition.

1. Mining Logic Has Changed: As Bitcoin mining difficulty soars and electricity prices remain high, the “mine and hold” model has become unsustainable. Converting output into cash promptly, locking in profits, and maintaining cash flow are the hard truths for survival in winter.
2. Strategic Focus Shift: Bitdeer is no longer just a Bitcoin mining company. It is investing heavily in AI computing power and data center businesses. Liquidating Bitcoin is to raise ammunition for this new battle.
3. Respect for Cycles: Wu Jihan has experienced bull and bear markets in 2013, 2017, and 2021. He knows better than anyone that there is no eternal bull market. Staying calm during market frenzy and cashing out before the cycle peaks is the survival wisdom of top players.

This event offers us a lesson: don’t bet your faith on anyone.

Wu Jihan’s decision provides a profound lesson for all crypto participants:
Don’t idolize anyone: even the “Godfather” will adjust strategies based on market changes. Entrusting your wealth and destiny to a single person’s faith is the biggest risk.
See the essence, not just the narrative: The essence of Bitcoin is technology and consensus, not the backing of a big shot.
When narratives start to waver, we need to return to understanding the technology itself and market cycles.
Embrace change, don’t cling to the past: The crypto world is changing rapidly, with new tracks like AI, Web3, and RWA emerging. Clinging to past successes will only lead to being left behind by the times.
Wu Jihan has liquidated his Bitcoin, but he has not left the industry. He has simply moved from one track to a more promising one.
And for each of us, the real question has never been “Will Bitcoin go up again?” but rather “Can we keep up with this ever-changing world?”