Fu Rao, executive director of the Hong Kong International Institute for New Economics, pointed out that Bitcoin, as an important part of the digital economy, has gradually transformed from a speculative asset to a mainstream investment tool. Although the long-term trend is positive, short-term market sentiment and speculative capital flows may lead to a price correction. Investors need to be vigilant against the market risks caused by excessive optimism. The Trump administration's friendly policies towards the cryptocurrency industry will continue to provide strong support for Bitcoin. However, it should be noted that there may be uncertainties in the specific implementation process of the policy. For example, if the new leadership of the SEC takes a conservative attitude towards Bitcoin, it may lead to a decline in market confidence.