
财经少华|Jul 27, 2025 07:29
The two things that have risen the most recently are Bitcoin and stablecoins. Bitcoin has almost doubled in three months, from $76000 during the trade war to nearly $120000 now.
The Federal Reserve hasn't officially cut interest rates yet, but Bitcoin has started to show off. So why is it rising? It's very simple, because no one buys US Treasury bonds. The US dollar is slowly weakening, and this year's US dollar index has fallen by 10%. However, stablecoins are pegged to the US dollar, turning it into a digital dollar. They can go global to do business, settle with USDT, and make payments with USDC. In fact, behind it all is the US dollar. Don't think that stablecoins are just a technical tool, in fact, they are the second life of the US dollar on the blockchain. This is the gameplay of smart people.
Previously, people relied on the US dollar, but later on hard bonds. Now, they rely on stablecoins to sell their bonds without fear of default, because blockchain is transparent and the US dollar can dominate the world with added technology. Therefore, what you are copying is not the currency, it is the script of the United States, and what you believe in is not the market trend, but the exchange of hegemony.
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