Since Bitcoin first emerged in 2009, and with the blockchain’s decentralized mechanism at its core, it has profoundly reshaped the global financial and digital economy landscape. At the same time, it comes with economic risks that cannot be ignored, so its development value must be viewed dialectically.

From a positive economic perspective, first, it has revolutionized the cross-border payment system. Traditional international remittances come with high fees and settlement cycles that can last for several days; Bitcoin enables cross-border transfers on a minute-level timescale, significantly reducing the cost of labor remittances and benefiting 1.7 billion unbanked people worldwide, thereby enhancing financial inclusion. After El Salvador designated Bitcoin as legal tender, remittance fees paid by overseas workers dropped sharply, and residents’ retained income increased significantly. Second, it has given rise to a complete digital industry chain. Industries such as mining rig manufacturing, crypto trading platforms, blockchain technology research and development, and asset custody have grown rapidly, creating large numbers of technology jobs across Europe, the United States, and multiple locations in Southeast Asia. This has also promoted the development of supporting industries such as chips and clean energy, driven the iteration of financial technology, and pressured traditional banks to optimize their settlement and custody business processes. Third, it has formed a new type of store-of-value asset. With a total supply fixed at 21 million coins, its scarcity has led it to be regarded as “digital gold.” In periods of inflation and sovereign currency depreciation in multiple countries, it has become a choice for institutions and individuals alike to diversify asset risk. After the U.S. spot Bitcoin ETF was launched, large amounts of institutional capital entered the market, enriching the asset allocation categories available in capital markets.