[Ba Shusong: Bitcoin and Gold Rise Influenced by De-dollarization] Ba Shusong, Chief China Economist at Hong Kong Exchanges and Clearing Limited, stated at the 2025 HKEX China Opportunities Forum that the rise in Bitcoin and gold prices stems from concerns over the declining purchasing power of fiat currencies and is closely related to the de-dollarization process. The proportion of the U.S. dollar in global reserves has dropped from 60% in 2000 to 41% in 2025, while the total global market value of gold has surpassed $27 trillion, becoming the second-largest reserve asset.