Who knows how to operate this rental income strategy that Fu Peng mentioned? Teach me, thanks!\nFu Peng talks about the underlying logic of Bitcoin: big players have become 'landlords', and retail traders using leverage are just paying rent.\nOn April 25, Fu Peng, the newly appointed Chief Economist of New Fire Group, released a series of tweets on platform X, breaking down what he sees as the underlying logic of Bitcoin. Fu Peng stated that the underlying business models of Bitcoin perpetual contracts and ETFs are essentially the same as the 'rollover fees/overnight fees' in traditional finance's gold/commodity spot trading, which is a stable cash flow model where big players hold long positions to collect rent, while retail traders pay to go long with leverage, and platforms indirectly skim off the top.\nLarge spot holders aren't just mindlessly speculating; they're like 'landlords': holding long-term positions + hedging operations to collect funding fees, continuously reducing their holding costs. As long as positions don't shrink, the longer the time, the lower the cost, almost achieving 'zero cost or even negative cost'. 'Many people mistakenly believe that the big players are only shorting; in fact, they are the rent-collecting landlords. The premiums and discounts of CME Bitcoin futures are essentially the market's pricing of this holding cost/rent, completely in line with the logic of spot warehousing, financing, and delivery back in the day.'\nBlockBeats believes that Fu Peng's comments are not about bullish or bearish views on Bitcoin, but rather, from the perspective of a hedge fund manager, narrating the evolution of Bitcoin: Bitcoin has evolved from being purely emotion-driven speculation to a mature asset with structural positive yields (rent/funding rates) like gold and commodities. The big players and platforms are the long-term beneficiaries of this game, and the retail traders' long-term enthusiasm for leverage is essentially just paying rent to others. $BTC \n