This round of decline is an opportunity for restructuring! Billionaire Val Vavilov "buys the dip" in Bitcoin.

As the cryptocurrency market experiences another sharp fluctuation, Val Vavilov, an early participant in Bitcoin and a billionaire from Latvia, chooses to go against the trend and sees the recent downturn as an opportunity to reposition. Vavilov stated that the significant drop in Bitcoin prices has provided a window for adjusting asset allocation and increasing holdings at lower levels, but he did not disclose the specific scale and amount of his purchases. Last week, the cryptocurrency market faced a new round of "crash", with Bitcoin dropping more than 50% from its peak in October last year, causing significant losses to retail investors and shaking the long-term bullish positions of some. During Wednesday's trading session, Bitcoin fell below $66,000, hitting a new low since the big drop last week. Prominent investor Michael Burry recently warned that Bitcoin's decline could evolve into a self-reinforcing "death spiral". However, there are also indications that some "whales" in the crypto market are re-entering. Different from aggressive bulls, Vavilov holds a more cautious attitude towards Bitcoin. He mentioned that while he is optimistic about the long-term growth potential of Bitcoin and holds a certain proportion in his asset portfolio, digital assets are only a part of his overall investment. In fact, in recent years, he has been pushing his business to accelerate its transformation into artificial intelligence-related fields to diversify the reliance on the crypto cycle. Vavilov is the co-founder of the private cryptocurrency mining technology and hardware company Bitfury Group. The company initially rose to prominence by designing Bitcoin mining hardware and has become a significant player in the industry over the past 15 years. At the same time, Vavilov also holds about 12% of the stock in the Nasdaq-listed company Cipher Mining (CIFR.US). The company's stock price has risen by about 200% in the past year, primarily benefiting from a 10-year, $3 billion cooperation agreement signed with cloud computing company Fluidstack, signaling its business expansion from solely crypto mining to data centers and infrastructure supporting the AI industry.