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Long Bitcoin, Build with SATX" - SATX Labs, a Bitcoin venture capital laboratory, announced the launch of a fund to jointly promote innovation in the Bitcoin ecosystem.

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SATX Labs organizes two rounds of funding each year to provide acceleration and incubation support for new projects. They also host immersive entrepreneurship Hacker House events to help founders tackle real-world business challenges.

Since the birth of the genesis block on January 3, 2009, Bitcoin has been dominating the cryptocurrency industry for 15 years as a pioneer. Its greatest advantage lies in the entire industry chain that encourages innovation, inclusiveness, and openness that has emerged around Bitcoin. From the mining farms that run full nodes at the bottom, to the world's top venture capital institutions behind Bitcoin, and to the most creative and talented open finance teams and individuals gathered on top of Bitcoin, why did Bitcoin, which permanently recorded the headline of "The Times 03/JAN/2009, Chancellor on brink of second bailout for banks" on the front page of the newspaper in the genesis block 15 years ago, become one of the world's top ten assets, and why can its derivatives such as Ethereum attract high attention from the traditional financial industry?

With the large-scale clearance of mining power on May 19, 2021, the United States has accelerated the absorption of Bitcoin-related resources in all aspects. In 2021, the cryptocurrency exchange Coinbase was listed on the NASDAQ, and in late October of the same year, the US SEC approved Bitcoin futures ETF. More and more top-notch graduates from HYPSM and top-tier capital are investing in North America's leading cryptocurrency companies, and top projects are gradually eroding Bitcoin's market share in the global market. Currently, Bitcoin's development has stagnated, and the on-chain cannot absorb large-scale funds. As the price increases, block congestion leads to small ecological trading volume and high transaction wear and tear. The development of the Bitcoin ecosystem cannot wait, and the future will be a normalized competition between Bitcoin and various public chains.

The more pressing issue is that if a Bitcoin entrepreneur, especially a Chinese entrepreneur, hopes to bring some real technological innovation to the impetuous industry, he may encounter problems including but not limited to: investment institutions favoring emerging public chains and their on-chain projects because they can tell more attractive stories to capital, the story of Bitcoin is somewhat clichéd for capital and LP, limited overseas resources and difficulty in attracting customers, and no "policy support" to be obtained. This is even more difficult for Chinese entrepreneurs who are starting businesses overseas.

How many investment institutions and investors dare and are able to invest in entrepreneurs who embrace the original Bitcoin maximalism? Firstly, Chinese entrepreneurs who go abroad find it difficult to obtain support from North American resources. If even Chinese investment institutions and investors who have a complete Bitcoin upstream and downstream industry chain do not support them, then Chinese people's voice in the Bitcoin ecosystem will be difficult to stand out in the game with major capital of emerging public chains.

Currently, many projects born on Bitcoin are mostly imitations and plagiarisms of the technologies already adopted by Ethereum. However, imitations and plagiarisms can only catch up, while technological and innovative breakthroughs have the chance to surpass. The root of technological innovation lies in entrepreneurs and talents, and Chinese entrepreneurs have unique advantages in the Bitcoin ecosystem. Even in the future, a Bitcoin project may need Chinese entrepreneurs as the core in order to bring vitality and opportunities to the Bitcoin ecosystem.

As the fourth halving of Bitcoin approaches after 15 years of official operation, SATX Labs sets sail. We sincerely invite project founders, computing professionals, the Bitcoin community, media representatives, developer communities, and other individuals with a positive attitude towards the Bitcoin ecosystem to join us as partners.

Currently, the investors of the first phase of SATX Labs fund include top-tier USD funds, North American listed companies, leading computing power enterprises, upstream institutions and individuals in the Bitcoin industry. The fund's strategic focus is on investing in Bitcoin Layer 2 protocols and ecosystem assets to ensure the security of the Bitcoin mainnet and build a more prosperous Bitcoin Layer 2 ecosystem.

If you are a startup project, joining SATX Labs will give you:

Top-tier venture capital support: SATX Labs will establish a Bitcoin ecosystem special fund to provide early-stage financing for projects and accelerate their development.

Comprehensive innovation and technical services: SATX Labs will provide one-stop support for qualified projects, helping them complete product research and development from 0 to 1 and accelerate project development.

Regularly invite industry experts: SATX Labs plans to regularly invite industry experts, including Bitcoin core developers, project founders, and partners from investment institutions, for closed-door discussions to provide professional guidance and accelerate project development.

Collaborate with Bitcoin OG in the crypto industry: Qualified projects will have the opportunity to collaborate with Bitcoin OG, helping project teams find suitable partners and developers, and building a vibrant team.

Investors with long-term cooperation intentions are also welcome to join SATX Labs.

As part of its future plans, SATX Labs will organize two funds each year to provide acceleration and incubation support for new projects, as well as host immersive entrepreneurial Hacker House events to help founders solve real-world business challenges. In addition, participants in the SATX Labs event series will receive extensive support from various investment institutions, project founders, crypto communities, university blockchain clubs, global KOLs, and developer communities, all of which will contribute to better promotion and exposure of projects and jointly promote the development of the Bitcoin ecosystem.

As a laboratory focusing on early-stage project exploration and investment in the Bitcoin ecosystem, SATX Labs has always believed that the Bitcoin ecosystem is one of the industries most likely to change the world in the next 15 years. SATX Labs once again sincerely invites Bitcoin ecosystem builders from all over the world to join us in building the future of the Bitcoin ecosystem. Let us contribute our strength to the prosperity of the Bitcoin ecosystem together.

Participation link: https://forms.gle/k5r7tYoQHrruCaq17

English official Twitter: @SATX_Labs

Chinese official Twitter: @SATXLabsCN