#内容挖矿升级 Bitcoin only truly possesses hedging properties after all major commodities have risen and then fallen; because at that time stocks cannot be held, bonds are questioned, and the yuan's credit is challenged, so if not Bitcoin, what else would rise?

There is also a narrative that in the future, agents will use USDC for payment under the x402 protocol, but if the US dollar fails, the issue of insufficient computing power will eventually be resolved, and once resolved, Bitcoin will also become a true store of value like stocks. When agents gain autonomy and computing power is satisfied, then the excess will flow to Bitcoin.

These are the two major new narratives that have emerged this year.