Bitcoin climbed to 104.09 million won, approximately $75,000, on Bithumb in the morning of the 21st, rising 16.2% from the previous day’s low of 9.56 million won, approximately $6,900, and moving above $75,000 in dollar terms. SmashFi CEO Baek Hoon-jong said the rally was only beginning, arguing that tokenization—the conversion of real-world assets into blockchain-based digital assets—could establish Bitcoin as foundational financial infrastructure. Under his view, Bitcoin would provide value storage and final settlement, while payments and financial services would run on Layer 2 and Layer 3 networks. The thesis remains unproven, with Ethereum, Solana and existing financial networks competing to settle tokenized stocks, bonds, stablecoins and other real-world assets. Institutional participation and regulatory changes could also determine Bitcoin’s future role and influence its price.