Bitcoin hitting record highs, the continuation of a rally that has been building for a couple of months. There are a couple of factors the mainstreaming of bitcoin. You may recall earlier this year regulators in the us open and investing opportunities attached to crypto currencies to more investors, and since then funds have been pouring into that. There was a report that huge figures have been raised. That has definitely increased things on the demand side. On the supply side, there is a 0n the supply side, there is a process called halving, part of the bitcoin protocol, only a certain number are issued, and once every four years, a reward for bitcoin miners, that number decreases. That may also have an impact on what investors think the supply will be. All of this i think you can safely say is leading to that craze for laser eyes, the meme that bitcoin fund is used when they are feeling optimistic about it. ~. , they are feeling optimistic about it. We will come back to it. Michelle.
do you think they will be able to get their money back? i think that for the major debt holder, the bond order should be, to be honest, we expect this bond order can still only recover approximately 2% or 3% under liquidation scenario and currently the bond issued by evergrande is only trading at 2 cents of the dollar. at this point we believe the most valuable assets owned by evergrande are still in offshore assets which include the share of the publicly serviced and other electric vehicle divisions. meanwhile we think it is virtually impossible to recover anything from its onshore assets. what are the broader implications for the industry from evergrande s liquidation? actually, evergrande is the first developer, first large developer that has been ordered to liquidate. if you look at the previous example, we also saw that the government between hong kong and mainland china china has unusual recognition for insolvency proceedings. so in theory, liquidators from hong kong sh
you think they will be able to get their money back? i think that apart get their money back? i think that apart from get their money back? i think that apart from the get their money back? i think that apart from the secure i that apart from the secure lender, this should be the one offshore creditors, but to be honest, we expect these bondholders can still on the recover approximately 2% to 3% in a liquidation scenario. currently, by also trading around one to 2 cents on the dollar. so at this point, we believe that the most valuable assets owned by ever grand are still the offshore ones, including the share of the publicly serviced division. so meanwhile, we think that it is virtually impossible to recover anything from its onshore assets. ~ ., anything from its onshore assets. ., ., anything from its onshore assets. ~ . ., , assets. what are the broader implications assets. what are the broader implications for assets. what are the broader implications for the -