#Tianfeng: AI and Cryptocurrency Compete for Dollar Hegemony#

Tianfeng Securities believes that AI represents plan A for maintaining the US dollar's dominance, while cryptocurrencies represent plan B for hedging against the US dollar's unchallenged status. The report points out that energy is a core element that cannot be bypassed, whether it's Bitcoin or AI, because the essence of currency is credit, the essence of credit is order, the essence of order is technological competition, and the essence of technological competition is energy efficiency. The report also mentioned that gold has become the darling of investors over the past two years as a beneficiary of de-dollarization. However, MAGA cannot tolerate the dollar's monetary hegemony being shaken, so Trump needs an alternative plan to maintain the dollar's position. This alternative plan must be one that the US can control and influence, and gold is most likely out of the options, while cryptocurrencies, represented by Bitcoin, may still have a chance. However, the essence of currency is credit, and if there is no credit, then credit must be injected.