Twenty One Capital has new moves in the BTC strategy. The company's CEO Jack Mallers recently revealed a key investment approach: "To hedge against the dollar devaluation risk, our asset allocation strategy incorporates both shorting the dollar and going long on BTC."

This statement reveals several pieces of information. First, as the BTC price stabilizes at $92.83K, more and more institutions are hedging fiat currency risk by allocating to Bitcoin. Second, the logic behind shorting the dollar is based on judgments about global liquidity and monetary policy—institutions are using alternative assets like BTC to build defensive positions.

Twenty One Capital, where Jack Mallers is based, is a professional digital asset management firm. The strategy adjustments by such institutions often represent new ideas among market participants. By simultaneously shorting the dollar and going long on BTC, they are essentially expressing a view: in uncertain macro environments, hard asset allocation is more attractive than holding a single fiat currency.