First, let's talk about a fact that many people are unaware of: the more Bitcoin rises, the more explosive the demand for stablecoins becomes. Why? Because the market needs more USDT and USDC to accommodate these massive transactions. And the play behind these stablecoins might surprise you – the issuers use their dollar reserves to buy US Treasury bonds to earn interest. In other words, every circulating stablecoin is essentially helping the US government "digest debt."

Currently, the total market capitalization of stablecoins is only a few hundred billion USD. But what if one day it reaches a scale of 10 trillion? That would be a super leverage for the US Treasury. So don't naively think that the US doesn't want Bitcoin to rise - it actually prefers the higher the BTC market value, because this directly drives the expansion of stablecoins, and in the end, it is US debt that picks up the tab.

Looking at gold here. Currently, the gold market has a scale of 28 trillion USD, while BTC is still under 2 trillion. To say something that may seem exaggerated: in ten years, the market value of Bitcoin is very likely to exceed that of gold, and once it overtakes, it will be a crushing victory, and gold will never be able to catch up.

Why dare to say that? You can understand from the attitude of global governments and central banks — these people are more realistic than retail investors. When the market cap is small, they pretend not to see it, only recognizing gold; but when the day comes that BTC's market cap truly approaches gold, they will immediately be unable to sit still. It's not that they want to see it, but it has become too big to ignore.

Why does the United States want to embrace Bitcoin? The logic is very simple: the first layer is to amplify the demand for stablecoins to take over US debt; the second layer is that Bitcoin is likely to become the most core value storage tool in the future, continuously siphoning off the remaining global value. The United States certainly does not want to miss out on such a strategic asset.

After all, this is a game of mutual exploitation. The United States hoards BTC and drives up the price, reinforcing Bitcoin's global status as a store of value asset. But interestingly, the U.S. government may decline in the future, while Bitcoin will not.