The global trade landscape is undergoing profound changes. The dollar system, once supported by trade and oil demand, now faces an awkward reality—globalization is shrinking, and markets are fragmenting. Traditional methods of passing on pressure are gradually losing effectiveness, and the old approach of maintaining advantages through devaluation and gold is becoming increasingly difficult.

So what should the US do? The key is to find exports that create new demand for the dollar. In recent years, an interesting phenomenon worth considering has emerged: represented by USDC and USDT, dollar stablecoins are quietly infiltrating the global digital currency space. The potential scale of this market may even surpass the era of the petrodollar.

But there is a prerequisite—control over the discourse power and reserve advantage of crypto assets, with Bitcoin being the representative. Recent policy signals seem to be moving in this direction, with the topic of "Bitcoin reserves" frequently appearing, and the strategic intent behind it is worth pondering.

Imagine this scenario: if the US actively promotes a significant devaluation of the dollar against digital currencies like Bitcoin, could it potentially reconstruct the entire global monetary system? Achieving a new round of expansion at the capital level to compensate for trade contraction? From this perspective, establishing crypto asset reserves may not just be an investment move but more like a strategic financial layout.

This reflects a larger logic—when traditional commercial trade can no longer support the monetary system, digital financial infrastructure becomes the new battleground. The global expansion of stablecoins like USDC and USDT is precisely at the forefront of this shift.